Real Estate Investing Gives New Investor More Time at Home

As a commercial fisherman, Bill spent four to five days a week away from his family in New Jersey.

His wife Bobbie needed him to be home more often to help care for two of their children who are autistic. He also needed to supplement his retirement, and to plan for the future care of all three of their children.

Coaching speeds process
Bill had always seen the possibilities of real estate. He bought his first home at the age of 20, and then six years later rented it out to purchase a bigger home.

But Bill did not fully jump into investing until he became a No Down Payment Coaching student in 2004.

Today, Bill owns six rental properties, totaling 11 units. His net worth is $991,500 and he has a positive cash flow of $3,165 a month.

That first property became a springboard for subsequent purchases.

“I was able to leverage my rental property, which was free and clear, to make these purchases,” ill explains.

Investor finds niche
Property values were high in his coastal location, and investing in single-family properties did not show a positive cash flow. Bill found his niche in “side by sides”—two houses on one lot—and
in multifamily properties.

His favorite purchase was a three-unit property situated on the bay with a view of Manhattan. “It took nine months to close on that property,” Bill shares. “There were problems at every level.” But it was worth it. Due to its location being right on the bay, Bill is hoping to put condos on the property at some time in the future.

Recent project
And then there’s his most recent project, which is an office condo. He negotiated the office condo’s purchase whereby the seller’s real estate agent would hold a $60,000 note for the purchase price. When the agent had trouble liquidating the money out of his IRA, Bill’s aunt stepped in so Bill wouldn’t lose the sale.

And today, Bobbie is the owner-occupant of that office condo, and has fulfilled her dream of opening the Autism Center for Educational Services (ACES) there.

Through research and education about all the challenges, education, and care of her own children’s special needs, Bobbie became a licensed Professional Development Provider and is able to help other parents of autistic children.

Different approach
“The program has made me more aggressive and think more actively,” Bill says. “I never would have approached things in these manners before.

“Today, we’re happy and healthy—and getting more wealthy!” he beams.