you to identify and find good wholesale real estate properties you can pass on to them so they can meet their real estate investing goals, whether those goals involve rental or rehabbing. As you move through your real estate investing career, resist the immediate temptation to rehab properties. It’s what you watch on TV. It’s exciting. It’s sexy. But it’s high risk. And it takes an incred- ible amount of involvement and activity. And there’s a learning curve you need to go through before you rehab your first property. So I caution you. Second, resist the temptation to go right into wholesaling properties. I know it seems really easy, and it’s quick and exciting because you can make quick cash profits. In many cases, you do not even have to put money down. Beware of that. You’ve got to build a great network
of investors in order to be able to sell to them. And you’ve got to develop some unique sources that you can use, and leverage and work to buy deeply discounted properties off-market at a price attractive enough that you are able to sell them to other investors. It takes a long to time to build your network, your knowledge base and your experience in order to be a suc- cessful wholesaler. That is what led me to those rental properties first. I thought it was a great low-risk entry point into real estate investing as a part-time investor. It was a great learning platform. And it was a great first step to building long-term wealth and success. When it comes to building wealth, the earlier you start, the better, because obviously it accumulates over time. And that’s my recommendation to you.
If anything—whether you follow my path or a different path—I encourage you to take that first step. I encourage you to start now toward building your wealth through residential real estate investing as a part-time investor. •
Kevin Guz is a Dallas, Texas-based residential real estate investor with more than 10 years of investing experience. He owns a HomeVestors (or “We Buy
Ugly Houses”) franchise as well as the Clear Key companies, which focus on residential real estate wholesaling, rental property management and self-storage leasing. He also is a licensed real estate agent in the state of Texas. He enjoys sharing his ongoing personal experiences, perspectives and learnings from his start as a part-time or “weekend investor” and full-time corporate professional through his ultimate transition to a full-time real estate investor and business owner. You can listen to his podcasts at www.blogtalkradio.com/kevinguz.
96 | think realty magazine | may :: june 2016
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