Joel C. Was a First-Time Investors with Big Goals
Joel C. was a first time investor, but his goals were different than most first timers. He wanted to invest in real estate so that he would have enough passive income to create stability for his future family.
“I had been doing research and reading books for years, so I knew how much time was involved,” said Joel. He turned to a real estate agent to help him get started and take some of the pressure off figuring it all out by himself. “I finally realized that if I want to be an entrepreneur and an investor, I couldn’t do it all myself. I had to find an expert who could do that work for me.”
Joel’s agent started by putting him on a drip email campaign that would send him information about properties in the area. He knew what he wanted was cash flow. “I could look at these properties and make sure the numbers worked. If it didn’t I’d just delete it and move on,” he said.
If the numbers worked out, he and his wife visited the properties with his agent. “When we went to the properties he gave me expert advice, sometimes for and sometimes against purchasing the property.” Eventually, they found a property, and qualified for an FHA owner-occupied loan.
“We’re getting the house for free because someone else is paying the mortgage,” said Dani. “It’s not like we have an abundance of money coming out of nowhere, so we really had to plan for what we wanted to do.”
“In 10 years I’ll be investing in large apartment complexes. It’s something to look forward to,” he said.” Ultimately, the combination of research, a clear plan, and expert advice from his agent helped Joel and Dani take the first step towards achieving their wealth-building goals.