Blog Post
#1-Interview
By Salvador
Garcia
Not
all real estate activities are constrained to being a Realtor. A real estate
entrepreneur focuses his/her efforts to improve real estate in hopes of
increasing value for consumers. The
gained value is seen as a benefit to the consumer allowing for a trade for the
added value. A successor entrepreneur is an individual that purchases such
opportunities with the ability of gaining capital or revenue through lease or
sale of a property. Eric Nasalroad is an instructor for entrepreneurship at Fresno
State University he is one entrepreneur that adds value to his portfolio by
practicing such methods and below he shares his insight on real estate.
What is your background concerning real
estate?
Investor:
rehabber, portfolio owner.
What got you into real estate investing?
Statistics
– I had read that many millionaires made their money in real estate.
Economics
– limited supply of land…increasing demand…seemed like a no-brainer.
How did you fund your first investments?
I
saved up money for a down payment.
How do you fund your current
investments?
I
save up money for down payments or I use a private lender for our rehabs.
How many homes have you worked on
overall?
20
or so.
Were there any problems you've
encountered in your investments?
Problems?
Like…unexpected things? Yes. The only real problems come when dealing with
local and state government, though. Everything is just a matter of doing what
it takes to accomplish the goal. With government, it’s not that easy.
What have you learned from those
problems?
There’s
money to be made in specialty scenarios, but a person can make money in many
types of real estate ventures.
What would you recommend for someone
before considering investing into a property?
Know
your numbers. Have at least 2 exit strategies. Make sure the property will cash
flow if you keep it.
What resources would you recommend for
someone that would have an interest in real estate investing?
Kiyosaki
– the Real Book of Real Estate
Foreclosures.com
(Alexis McGee)
Fortunebuilders.com
What is your view on today’s current
housing market?
Prices
are up from six months ago
What do you use to keep up on recent
market events?
Gazarian
Center for real estate. MLS. Trade articles.
What are your future plans for investing
in real estate?
To
invest more.
How many homes are you currently working
on?
None.
But we are holding a small portfolio.
I currently have a property in Kansas and
am interested in using it to leverage it for a loan to kick start my business.
I have the option of selling the home or leveraging it to try to acquire an
investor. I have decent credit but do not work, what steps would you recommend
for me to take or do you have any advice?
If it were me, I would only take out as much
money from the Kansas property that would keep the property cash flowing each
month. You don’t want a chunk of money if you just have to pay back the Kansas
deal each month. Rather, make it so you continue to cashflow in Kansas and take
the loan money to work your next deal. I would also shore up some monthly
income from a part-time job first. Real estate investing isn’t a full-time gig
at first. You can take care of your first deals in your free time.
The ability to gain on investing in real
estate is a great opportunity that I would like to inquire about more. The
opportunity to gain on Eric Nasalroad’s insight in this area was very
insightful. I currently have a property and see FIN 180 and this interview as a
great resource to gain knowledge in this area of investing.
Special thanks to Eric Nasalroad for taking the time to share this information
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