What inspired you to become interested in real estate investing?
The seed of Real Estate was planted when I was 20 years old back in 2007 I was a college student at the time. A family member recommended the amazing purple book known as Rich Dad Poor Dad, by Robert Kiyosaki. What really caught my interest from this book was that I wanted to know what rich people did differently from poor people. Now of course the "poor" dad in the book is a well-educated man with a pretty good income but with a poor financial mindset. The savvy "rich" dad in this book is who truly inspired me to become financially literate and to acquire more assets than liabilities.
Tell us about one of your favorite real estate transactions
My favorite real estate transaction thus far is on a duplex that I purchased through seller financing for my oldest son who will be 18yrs old when this property is paid off. My son could sell or refinance to use the funds for college tuition or to any business venture.
I received an email from a seller that owned a duplex. She asked if I had any interest in purchasing her duplex cash as she noticed that I recently just purchased the corner duplex on that same block. I responded and asked if she would be interested in owner financing the duplex and she replied yes. Her terms were 3 large payments split up into 3 years equaling up to $140,000 dollars as that was her asking price. I responded asking if she would be interested in 120 months with a 10% down payment and I didn't mention the interest rate which was part of my strategy. We both ended agreeing to 100 months, 10% down, and 0% interest rate!
Do you have any real estate mantras, rules, or words of wisdom you try to follow in your investing?
"Approach everything you do with a beginner's mindset and you will forever grow."
Please share a favorite business or real estate-related resource.
Books
The E-Myth, by Michael Gerber,
The Richest Man In Babylon, by George Clason
Raising Private Capital, by Matt Faircloth,
Rental Property Investing, by Brandon Turner
Managing Rental Properties, by Brandon Turner.
Podcast
Biggerpockets Real Estate
Biggerpockets Money
Earn Your Leisure
Jocko Podcast
What do you like to do during your "off" time?
Spend time with my family. I have two boys, twelve and four years old.
Play basketball
Shooting Range
Exercise Daily
Read (Self-Development, Spiritual, Business, and Real Estate)
What else would you like your fellow meetup members to know about you?
Before I read Rich Dad Poor Dad I had no clue about investing nor how to do it. I believe this book helped transform my mindset on the importance of saving and putting my money to work by investing in real estate.
During our college years my wife and I saved 10% of our earnings and increased it up to 40% once we entered our career jobs. We saved for 11 years until we started to put our money to work in real estate. We came up with a plan to buy and hold and set our criteria to 2-4 units focusing on the Southside and Far West side of San Antonio. Our first real estate purchase was in January 2019 and since then we have acquired 12 doors, 11 of the doors are long term rentals and 1 short term rental. Another thing I like to share is to cherish and take care of your relationships with the good people you meet because real estate is a relationship business.
What is the best way for someone to get in contact with you?
Insatgram: @alejandra.greg.txrealestate
Facebook: https://www.facebook.com/greg.martinez.965
Email: g.regmartinez324@gmail.com
Other Thoughts?!
"You could continue to get ready or step forward and say I arrived."
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