Recently LoveToKnow Business had the opportunity to talk with Real Estate Investor and owner of GT Investing Solutions, Greg Freund. We talked with him about how to start a real estate investment business. He shares from his own success and offers tips so you can do the same.
Greg comes from a large family that has remained close over the years, which he credits to a father who worked hard so his mother could stay home with the kids. Greg worked as a service manager at car Dealerships for 20 years and wanted to be able to create the same lifestyle for his family. In reality, this just didn't work these days. Greg found renewed hope in an education system that helps to develop new business owners and real estate investors. Today as a business owner of GT Investing Solutions, he works hard to build his new business and shares the opportunity with others who are looking to change their lives. Now he has time for family, volunteer work and helps others achieve their dreams and goals as he networks with other business owners instead of just working for them.
After 20 years in management, how did you break into the real estate investment business?
These days you can't just rely on a job anymore. I found this opportunity through the Nouveau Riche University. They have several courses, set up just like any other university, 100 to 400 level courses. So anyone, no matter what knowledge you have about real estate or investing, can learn what you need to know to become successful. The classes are held for a week, every other month, so you don't have to quit your day job until you get your business off the ground and profitable. The best part is the community that you become a part of that is there to assist you and mentor you. There are also local seminars and briefings, the instructors from the school travel to our local communities to train on a regular basis. There are on-line courses and training modules available. This has opened many avenues and opportunities for me and my family.
Did you have to be a licensed real estate agent to start GT Investing Solutions?
Becoming a Real Estate Investor does not require a license or a degree. There are a lot of laws that you need to know and follow; they differ from state to state. You can start your business as a sole proprietor, an S-Corp, an LLC, or a C-Corp. You can start where ever you are at with your knowledge and skills after you take some classes. The instructors also assist and mentor you on your first deal or two. We do work with licensed agents and brokers when we need comps. We are a group of private investors with the resources to help homeowners by buying their house in a quick manner. We are not realtors and we are not associated with any real estate agency. No fees, no open houses, no anxious wait.
What does your business have to offer that is beneficial to the home owner?
I have knowledge in several strategies and a large community of other Investors that are knowledgeable in other strategies that are ready and willing to help out or take over a deal depending on the circumstances. We are a community of Investors that want to help educate homeowners about what their options are so they can make the best decision for their situation. We want to create Win-Win solutions.
With today's market can a business like yours help to stop foreclosure by buying a house?
That is actually one of the most popular strategies in today's market. Many investors, including myself have learned to do what is called a "short sale". We go to work for the homeowner by negotiating with the banks and lending companies. Most of the time, the homeowner can get out of their tough situation with some dignity and get a fresh start.
If you don't charge a fee, how do you make money?
We have a very unique opportunity; it's a double income opportunity. We get paid a commission from Nouveau Riche for referring other students, and we make money by finding great real estate deals, like doing fix and flips, or wholesale properties, and for the long term buy and hold and rental properties. Nouveau Riche has available to it's students exclusively, The Investor Concierge. They have properties available online that have been purchased with great equities, most of them are rental property with tenants already in them, and guaranteed cash flows after all expenses!
As a business, how do you finance the purchase of these homes?
To start out, most people use money partners. I have the knowledge and the connections, I do the negotiating and footwork, my partner has the money and credit. Or, you can find other investors that want to buy the property that you find, or they will "hard money" lend you what you need for a short term. After a while, if you market and build up your business as they teach, you create a stream of income that gives you the money you need.
What tips do you have to offer for others interested in starting a real estate investment business?
- Get the right education.
- Find the right person to mentor you.
- Get involved in a community of like minded people.
- NEVER GIVE UP.
I believe the best education in the country is Nouveau Riche University, our community is second to none, and we won't let you give up. We will help you across the finish line to SUCCESS. Just a note, Nouveau Riche has been featured in Success magazine 3 times so far this year, January in "Your Business at Home", June/July "Success 50 Greatest Entrepreneurs of all Time", and "Success From Home" [October].