Aaron Adams - 10 Tips And Tricks: From a Millionaire Real Estate Investor

Twelve years ago I was teaching High School. I taught U.S. History and Spanish. I made less than $40,000/year with over $200,000 in debt. I wasnt financially destitute and I actually had excellent credit. I was living the typical American Dream of a mortgage, a car payment, credit card bills and a 9-5 (well actually 7-3 for teachers ) job. One Friday night I saw an infomercial that would forever change my life.

My wife was out of town and I was home alone on the couch watching TV. As I channel surfed, I came across an infomercial from a man who was explaining how to invest in real estate. Interested, I got on the internet and logged into eBay and purchased a used version of his investing program for $20. The book arrived a few days later and I began to read.

Ironically enough, at this same time, I was also working on completing my MBA at California Polytechnic Institute in Pomona California. I had been taking MBA classes for almost a year when I purchased the real estate investing book. I was mildly irritated that none of my professors had taught me any of the techniques I was learning in this book. Looking back, I now know that it was because none of my professors themselves had really made any money, much less in real estate!

After finishing the book, I had a ton of questions. But being a risk taker at heart, I decided to take the plunge and buy an investment property.

I found a duplex in Hemet, California that I could buy for $100,000. It needed about $10,000 in work but would generate $750/month in rent per side. After realizing that I could live in one side and pay my mortgage from the rent on the other side, I put my 3 bedroom house on the market to sell and jumped in with both feet!

Through all my years of college, I was fortunate to work full time and pay for my tuition/books/fees without having to borrow any student loan money. However, I ended up taking out a student loan to pay for the $10,000 in work the duplex needed. Between borrowing the 3% down I needed for the mortgage, borrowing the money I needed for closing costs and borrowing the money I needed for the rehab on the duplex, I essentially borrowed 100% of the purchase and rehab costs I needed to own this duplex. Not ONE PENNY of my own money was spent to buy this property!

I few short months later, I was able to sell my duplex for $175,000! After the closing, I was amazed at the thousands and thousands of dollars I just earned and thought about how little time I had spent earning that money.

This is just one example of the many techniques that I teach Real Estate investors at my Bus Tours all over the country. www.indybustours.com

It was at this moment that a fire lit inside me that still burns strong today almost 2000 properties later I have purchased single family homes, duplexes, apartment complexes and trailer parks. I have also been involved in hard money lending, private equity partnerships, new construction, and almost every type of business transaction that exists for real estate. One thing I have learned through my experience is that real estate is BEST learned from one person to another face to face with questions and answers.

My purpose of this book is NOT to teach you everything you need to know about real estate. I found it IMPOSSIBLE to learn what to do with question and answer alone. I have also had mentors and experienced investors who taught me the pros and cons of each strategy and who helped me pick an individualized strategy for where I was living and the real estate climate that existed in early 2000. What I really hope to accomplish through this book is to give you some ideas and proven techniques that I have used over and over again to make money AND outline ways that you too can start making money from real estate investing in just a short amount of time.

For those of you who ALREADY have some real estate investing experience, these may be some new ideas you havent thought of before OR new ways to use old ideas you already were familiar with. None of these ideas are 100% mine, but the experiences are and they are backed by the hundreds and hundreds of properties I have purchased over the years. ENJOY the tips and tricks and I look forward to meeting you in person at one of our events down the road.