How I Got Started in Commercial Real Estate Investing
I'm often asked about my background because many investors are curious if success is based upon some sort of pedigree or simply good luck that befalls a fortunate few. I'm happy to say that, specifics aside, you'll probably find that my route to success is something you can indeed relate to.
In the not too distant past (around 1995 to be exact), I was working with a landscaping company and it was tapping me to my very core. I was struggling to make ends meet, unable to see any better future, and quite honestly burned out.
The economy was a little better then than it is now but you couldn't have convinced me of that. I had a whopping $800 in the bank, chronic fatigue from busting my hump in the landscaping business all day long, and little other experience on which to place any hope of a better future.
In short, things weren't looking real good and, even when I first discovered the vehicle that would eventually lead me to my true passion (and fortune), what did I get? I got the "Dave, you're making a big mistake!" speech from those closest to me. How do you think that felt? Maybe I don't need to ask because I'm sure many of you have had similar experiences.
One of the things of which I'm most proud is that I didn't get lucky with my real estate business. I focused on the fundamentals of real estate that I first learned and then put into action, one property at a time. Because I am from the northeast (where there are a lot of multi-family properties), it so happened that apartments were easy to come by and introduced me to the amazing cash flow that can come from holding properties.
Another aspect of business that I latched onto right away was the acquisition of outside funding. I found out real quickly that good businesses attract money and I felt I had a good one with what I was doing. It started out pretty small but I'm proud to say that time has a way of amplifying something that is good. In 2007 alone, I was able to raise over $22 million in private money to fund nearly a dozen apartment deals that together were worth $87 million.
Fourteen years from when I started, I now control over $160 million in real estate across the country. If you don't think you can work this business, start at the beginning of the article and reread it. Folks, anyone can do this and I am living proof of that. Follow the steps, embrace the business, and the rewards can be yours.
In the not too distant past (around 1995 to be exact), I was working with a landscaping company and it was tapping me to my very core. I was struggling to make ends meet, unable to see any better future, and quite honestly burned out.
The economy was a little better then than it is now but you couldn't have convinced me of that. I had a whopping $800 in the bank, chronic fatigue from busting my hump in the landscaping business all day long, and little other experience on which to place any hope of a better future.
In short, things weren't looking real good and, even when I first discovered the vehicle that would eventually lead me to my true passion (and fortune), what did I get? I got the "Dave, you're making a big mistake!" speech from those closest to me. How do you think that felt? Maybe I don't need to ask because I'm sure many of you have had similar experiences.
One of the things of which I'm most proud is that I didn't get lucky with my real estate business. I focused on the fundamentals of real estate that I first learned and then put into action, one property at a time. Because I am from the northeast (where there are a lot of multi-family properties), it so happened that apartments were easy to come by and introduced me to the amazing cash flow that can come from holding properties.
Another aspect of business that I latched onto right away was the acquisition of outside funding. I found out real quickly that good businesses attract money and I felt I had a good one with what I was doing. It started out pretty small but I'm proud to say that time has a way of amplifying something that is good. In 2007 alone, I was able to raise over $22 million in private money to fund nearly a dozen apartment deals that together were worth $87 million.
Fourteen years from when I started, I now control over $160 million in real estate across the country. If you don't think you can work this business, start at the beginning of the article and reread it. Folks, anyone can do this and I am living proof of that. Follow the steps, embrace the business, and the rewards can be yours.
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