Ken Corsini - Profit Like the Pros: The Best Real Estate Deals That Shaped Expert Investors

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PROFIT LIKE THE PROS

PROFIT LIKE THE PROS

THE BEST
REAL ESTATE DEALS
THAT SHAPED
EXPERT INVESTORS

KEN CORSINI

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Profit like the Pros: The Best Real Estate Deals That Shaped Expert Investors

Ken Corsini

Published by BiggerPockets Publishing LLC, Denver, Colorado

Copyright 2020 by Ken Corsini

All Rights Reserved.

Publishers Cataloging-in-Publication Data

Names: Corsini, Ken, author.

Title: Profit like the pros: the best real estate deals that shaped expert investors / by Ken Corsini.

Description: Denver, CO: BiggerPockets Publishing, 2020.

Identifiers: LCCN: 2020936157 | ISBN: 9781947200319 (pbk.) | 9781947200326 (ebook)

Subjects: LCSH Real estate business. | Real estate investment. | Success in business. | Real estate developers--United States. | Real estate development--United States. | Wealth. | BISAC BUSINESS & ECONOMICS / Real Estate / General | BUSINESS & ECONOMICS / Investments & Securities / Real Estate | BUSINESS & ECONOMICS / Small Business | BUSINESS & ECONOMICS / Personal Success | BUSINESS & ECONOMICS / Real Estate / Buying & Selling Homes

Classification: LCC HD255.C655 2020 | DDC 332.63/24--dc23

Printed on recycled paper in the United States of America

10 9 8 7 6 5 4 3 2 1

Dedication

This book is dedicated to my wonderful wife and partner, Anita. It would not have been a reality without your unwavering support and encouragement these last 20 years to take risks and chase my dreams (even the crazy ones).

TABLE OF CONTENTS

CHAPTER ONE
ANSON YOUNG | Mentoring Through an Inherited Mess

CHAPTER TWO
FRANK ROLFE | From Billboards to Trailer Parks

CHAPTER THREE
COREY PETERSON | Life-Changing Multifamily Deal

CHAPTER FOUR
STACY ROSSETTI | Negotiating 50 Percent Off a Storage Facility

CHAPTER FIVE
KRYSTAL AND DEDRIC POLITE | The Polite Way to Virtual Wholesale

CHAPTER SIX
BRANDON TURNER | Fourplex Makeover

CHAPTER SEVEN
OLA DANTIS | The Perfect FHA House Hack

CHAPTER EIGHT
ANNA MYERS | From Data Analytics to Airbnb Investing

CHAPTER NINE
SEAN CONLON | A Bet on Ralph Lauren

CHAPTER TEN
LEE ARNOLD | Code Enforcement Meth House

CHAPTER ELEVEN
BRETT SNODGRASS | The Substitute Teachers Land Flip

CHAPTER TWELVE
NANCY WALLACE-LAABS | From Small Roth IRA to Huge Payday

CHAPTER THIRTEEN
ANNA KELLEY | A Big Leap from Single-Family to Multifamily

CHAPTER FOURTEEN
GLENN AND AMBER SCHWORM | Massive Profits in an REO Mistake

CHAPTER FIFTEEN
NICK AALERUD | Cutting Through Red Tape Pays Off

CHAPTER SIXTEEN
JOE LIEBER | No Money, No Financing, No Problem

CHAPTER SEVETEEN
ZEONA MCINTYRE | From Rental Nightmare to Short-Term Rental Dream

CHAPTER EIGHTEEN
LIZ FAIRCLOTH | The 2 Percent Duplex Using Other Peoples Money

CHAPTER NINETEEN
SHAWN WOLFSWINKEL | The Same-Day Purchase

CHAPTER TWENTY
FELIPE MEJIA | Pioneering the Single-Family Room Rental

CHAPTER TWENTY-ONE
ANDRESA GUIDELLI | Candy Shop Triplex

CHAPTER TWENTY-TWO
CORY BOATRIGHT | Short Sale to Tall Profit

CHAPTER TWENTY-THREE
STERLING WHITE | Owner-Financed Multifamily

CHAPTER TWENTY-FOUR
MELISA CLEMENT | Great Reputation Equals Built-In Buyers

CHAPTER TWENTY-FIVE
JACK BOSCH | Buying Land at Pennies on the Dollar

INTRODUCTION

I started flipping houses in 2005 at the ripe old age of 28but I guess you could say I got my real start in middle school. It wasnt houses, though. It was candy.

I remember it clearly: I was 12 years old, and my parents were dragging me through the aisles of Sams Club as I waited patiently for the bulk candy aisle. Surely they would let me spend my hard-earned allowance on a gigantic box of Jolly Rancherswhich in this instance, they did.

After that trip, I was stuffing my face with Jolly Ranchers when a lightbulb went off. My young, entrepreneurial mind launched into some quick mental arithmetic, and it hit me: I had purchased an entire bag of Jolly Ranchers for $10. If I resold each individually wrapped piece for 10 cents, I could make $20!

The profit spoke, and I answeredit was ingenious! The next day, I filled my backpack with candy, got to school, and started spreading the word: If you needed a fix, I was your dealer. Within days, I had sugar-addicted clients that needed my product, inventory that needed to move, and the promise of extravagant profits from my candy-selling enterprise.

Now, I was a pretty good student back thensolid grades, well-behaved, and liked by most of my teachersbut this new candy-dealing business was technically not allowed. For a good student like me, it was pushing the envelope, but I pushed on.

A week or two into my black-market candy biz, I started losing my stomach for deviousness. The under-the-desk exchange of money for candy and the close calls with teachers were simply too much stress for little Ken Corsini. With only $5 to go before reaching that $20 goal, I took my earnings, devoured the remaining inventory, and quit.