My passion for real estate started when I was a kid. My Dad was a real estate appraiser, and he and I would constantly talk about all-things real estate. Frequently on the weekends, I would go with him on his appraisal appointments. While driving all over the county we would listen to Carleton Sheets, a get rich off real estate guy who was popular back in the 80s. We talked about buying and selling property, i.e. flipping. My preoccupation with all-things real estate really started with my Dad. After going to college for a degree in economics, I worked at a savings and loan as a Wholesale Rep. In this position I learned about the mechanics of buying and selling real estate. Later in 2008 when the market crashed, I went out on my own. During my time as a Wholesale Account Executive I secured my Real Estate Broker license. As the market deteriorated, I opened my brokerage, ScottWay Capital. It was a difficult time! The market had crashed. Banks weren’t lending. Foreclosures were at historic highs. The market was filled with a glut of available homes for sale.
As the market deteriorated, I opened my brokerage, ScottWay Capital. It was a difficult time! The market had crashed. Banks weren’t lending. Foreclosures were at historic highs. The market was filled with a glut of available homes for sale. I knew if I was going to succeed that I had to diversify my skill set. The only real opportunity as a real estate business during this time was working with buyers who had great credit, or by working with cash investors. As a result, I started working with both in the purchase of homes and multi-family units. Many of my investor clients who were buying at the lows of the market wanted to fixup and hold these properties until the market had improved. They began to entrust me with the fix up and long-term management of these properties. With time my experience grew, and I was becoming well versed in income property. But it wasn’t enough. I began going to night school for 4 years learning various construction trades like HVAC, plumbing, and electrical. With time I found myself overseeing and doing larger construction projects. Eventually I earned my General Contractor License.
I now hold my Real Estate Broker and General Contractor License. I’ve combined them under one roof to give my clients the necessary tools to transform and maximize their real estate holdings. I suppose all those years back my dad and Carleton Sheets really imparted on me the idea of fixing and flipping property. Now I want to bring the real estate principals I have learned and share it with anyone who is trying to improve their home, purchase a property, sell a home, or manage their rental unit.
In the current market, now more than ever, it is essential that you safeguard your real estate investment. Whether you manage your income property or you hire a property management company on your behalf, the same fundamental concepts apply. The elements of a successful property manager are: their ability to lease and sell the property, the company’s skill in preservation and maintenance, the essential skill of accounting and knowledge of the current laws that affect both tenants and owners, and the overall ability of the property manager to maximize the return of the client’s investment.