1) How long have you been involved in real estate investing? What were some of your jobs before doing real estate full time?

20++ years now.international as well.
I had been worked as restauntuer owner,construction management, outdoor advertising owner, Audio reinforcement/repair, engineering, x-ray repair and sales

2) How did you first get started in real estate? What strategies do youuse and why?

I bought my first house in 1982 and doubled my money in 2 years.
 
I buy cheap repossed properties from the local banks or auction-do a mild rehab- then lease option or sell and hold a 20% second mortgage.

3)Which property types interest you? (Apartments, Commercial, Duplexes/Fourplexes, Land, Multi-Family homes, owner finance, etc)

I have been mostly interested in single family homes, but now I started looking for multi-family homes.

4) What types of financing do you regularly utilize? Have you ever used Private mortgage or private fund?

Conventional and it sucks! Usually i buy cash and I use an equity line-it’s easier

I’d love to use PMI!-I have a particular property that I need a private lender for right now!-it’s in title seasoning and too low in price for a conventional loan.

5) How did you go about finding properties?

Local papers and websites

6) What is your average purchase price?

Believe it or not-a 3 bdrm/2bath all brick can be had for 22K. I’ve paid as low as 13K with them being appraised 6 months later for 60K

7) How do you typically sell properties?

Lease option-most of the time I have to repair the tenants credit and hold a 20% second to qualify them

What is your average net profit per deal?

20K+

9) Describe your first deal and how much you made on it?

Bought for 50K- invested 12K- sold for 120K in 2 years

10) Describe your biggest deal (purchase price) and how much you made on it?

Built a hacienda in baja mexico for 80K and sold it for 400K 5 yrs later

11) What is your goal one year from now?

I want enough properties to make a  residual income of 3K a month after management with 200K cash to relocate to Venualza or Panama . I live modestly

12) What are some of your philosophies on life and success?
 
Give everyone the benefit of the doubt-and be fair. treat others as you wish to be treated.

13) What are some of the pitfalls of real estate investing, especially when starting out?

Learning the mortgage industry and realizing that you should use business lines of credit instead of purchasing properties with conventional mortgages

14) What is the one thing you love most about being a real estate investor?

Working for myself and helping others realize their dream of home ownership.  I myslef, could care less, I’ve had the big 6 bedroom house on an acre in the burbs and hated it! I’d rather live in a RV or small home on the beach

15) What is the most important quality someone can have to be a successful real estate investor?

Patience! and the ability to learn form others’ mistakes