We love giving you practical information, resources and a contact for some great realtors (www.aminvali.com) to work with you. Occasionally, however, we want to do something a little different. Today we want to feature a successful real estate investor and tell you his story. We think this may help you finally make the move and contact a real estate agent (www.aminvali.com) and take the first step.
The success story we want to feature is Donald Bren. He has an estimated net worth of $17 billion and is currently the Chairman of the Irvine Company. If you survey a group of real estate investors and real estate agents who work with investors, you will find that the most important concern is financing.
In 1958 Bren received a $10,000 loan and built his first house in Newport Beach. He went on to build home after home and he was able to sell the homes he built and the properties he bought at a profit, allowing him to start several real estate companies and completing multiple multi-million-dollar projects. He started investing in multi-family properties and several apartment complexes. However, it all started with 1 bank loan to build a home (in your case it could be to buy a home) and good planning.
A lot of Bren’s success can be credited to him investing in projects with other investors, he invested in single family projects and multi-family projects (multi-family properties tend to be more lucrative even with investment partners splitting the profits). This allowed him to mitigate risk and increase his income. He started with building one home to sell for profit many years ago, but he now owns 110 million square feet of real estate, this includes every type of property you can think of, including homes, multi-family properties, and commercial properties. Not only does Bren now own one-fifth of Orange County, he also owns real estate in New York.
Of course, not every real estate investor will be as successful as Donald Bren, but he is proof positive that you can start your real estate investing career with building, flipping or buying just one home. It makes calling a realtor or real estate agent (www.aminvali.com) so much easier when you know you can think big but start small.
In conclusion, the journey to a wildly successful real estate investing career, starts with building a buying a single home.