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In 1979 I first decided that I wanted to be a real estate investor. To this day, I
can recall my father reminding me that I had never fixed anything correctly in my life. In fact, he was quick to point out that I had even stripped my bicycle pedal while trying to reattach it. Furthermore, I stripped everything with threads whenever I had applied a wrench. So how could I possibly expect to handle the day-to-day demands of investment property?
I always thought that I would be rich and have all of the expensive things that kids dream about. Unfortunately, I found myself at the age of 28, married with 2 step-children, and Roger Jr. was on the way. I was on a dead-end job making $5.63 per hour. My life was over as fast as it had started.
There weren’t very many options open to me at the time. I felt that I had 2 alternatives: go back to college, or invest in real estate. That’s all that I could come up with to get rich. So, I started sharing my big idea of investing in real estate with family members to get some feedback.
My father was trying to discourage me because he didn’t want to see me fail, or lose what little money that I had. He wanted what was best for me. He had good intentions, just like the people who try to discourage you. I didn’t, however, invest in real estate to spite my dad, but in spite of him.
I went home from my sewer inspection job one night and told my wife my big idea of quitting my job and investing in real estate. She asked if I was sure that I could do it and become successful. I assured her that based upon the 2 houses that I had already bought, I couldn’t lose. She told me to go for it and to make sure it worked.
Although my father was against it, the person who really mattered was behind me one hundred percent. Once I had her backing, I walked into my city job and quit outright the very next morning. It didn’t make any sense to continue a job where I couldn’t even afford to buy a fast food lunch. Why wait?
To make a long story short, it worked out for me. I was lucky. Back in the day, there were no mentors, or books, explaining how to get started. It seemed the harder I worked, the luckier I got. I did, however, make a few mistakes and paid for them dearly. All in all, though, over time I managed to develop strategies and techniques that worked effectively.
Many students have asked over the years how long it took until I had realized that I had made it. It only took 1 year until I realized that I would never have to work a regular job again!
In 1979 I began landlording, and in 1981 I started flipping properties. Students ask which they should do, flip or landlord. As for myself, I prefer both landlording and flipping at the same time. This way you can cherry pick properties for yourself, and flip others that you don’t want to buy. I advise students to analyze their own situations and do what accommodates their time availability and temperament. Whenever possible, I advise for students to invest in both, as well.
At the height of my landlording, I owned and managed over 1220 units with rents in excess of $400,000 per month. I am down to 274 units right now.
Unfortunately, my mother drilled into me that I would be a loser unless I had a college degree. To this day, I still feel that void. I had always wanted to become a professor of History at The Ohio State University. That didn’t happen, but my hobby of teaching real estate fills that void by making me feel intelligent and important. Not too many people have written as many books and courses as I have, nor give seminars in
I feel fortunate that my job, real estate investing, and my hobby are the same thing. For most people, they don’t have that luxury. For example, a person could be an engineer for his job and fish for a hobby. Some might also consider this a curse, but I see it as an advantage. I can give a speech and get fired up. Afterward, I can race home and put all that inspiration to work.
As for how it all ended, it hasn’t yet. So far, though, I’ve been married this year for 30 years to that same girl who told me to “go for it” back in 1979. I maintain residences in both
H. Roger Neal™
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