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Day: December 1, 2022

Business

Middle-Tier Need Not Apply: Why Cole Gordon and Closers.io Vet Candidates to Build Self-Sustaining Sales Teams That Run Themselves

by CEO Weekly Staff

December 1, 2022

If your business is looking for a reliable, dedicated and successful team of sales representatives, it’s time to consider Cole ...

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Lifestyle

How to Have it All: Your Travel and Career Dreams

by CEO Weekly Staff

December 1, 2022

Throughout the pandemic, many people spent their time amidst shutdowns fostering an unprecedented wanderlust. Once the travel world started to ...

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Business

Former Disney Imagineer Ryan Harmon Reimagines Experiences Outside the Parks

by CEO Weekly Staff

December 1, 2022

Ever since the country reopened following the shutdown of most available entertainment experiences brought about by COVID-19, consumers have been ...

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Business

Scale your existing real estate portfolio with Tom Cruz @tcruznc

by CEO Weekly Staff

December 1, 2022

Real estate investment is considered one of the best methods to make money and accumulate wealth. It is a fact ...

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Real estate investment is considered one of the best methods to make money and accumulate wealth. It is a fact that property investment is a minimum-risk investment and can benefit in several ways, like earning from rent, mortgages, and sales with a huge profit. While all of it is true, many people struggle to find the right mix to make it big in this industry. To understand the secrets of the real estate market and how to improve an existing or develop a profitable real estate portfolio, we took our curiosity to a real estate legend, Tom Cruz, also known as “The Section 8 Guy,” and @tcruznc on social media. Known for building an empire from scratch in just nine years, Tom Cruz is not only an inspiration but a guru for many in this industry. With his expertise and knowledge, Tom has traded over 500 units and holds more than 500 properties. On social media, Tom emerged as the “Section 8 Guy” under the handle @tcruznc for his understanding of, and expertise with, the Section 8 of the US Housing Act of 1937. With his remarkable property dealing skills, Tom went from no net cash flow to earning over $500,000 per month. Tom stated, “I was working in an IT industry and struggling financially. I didn’t know how I was going to fight myself out of such a crisis until I stepped into the real estate industry. I self-studied everything and hunted opportunities like a predator, and in just nine years, I elevated my net worth to 25 million dollars.” Now, if you are inspired by Tom’s journey to the millionaire club and ready to step into this industry, there are some essential tips to keep in mind. These tips can help scale your real estate portfolio. As Tom says, while experience matters, it must be realized that real estate is not rocket science. It is all about how much research you put in before buying any property. Work on your financial resources. It is always advised to keep a check on the financial resources to grab the right opportunity in time. In the real estate business, timing is critical. So it is better if you can borrow or liquidate your assets for your convenience. Tom’s advice is to keep an eye on the credit score and maintain it above 740, as it can help in getting a low-interest rate. Also, people need to keep a check on their debt-to-income ratio as well. Banks scrutinize such things before approving the loans. Make sure to do the research and evaluate options before committing to any contract. Search for a good market. The best way to earn and scale the portfolio quickly is by searching for an emerging marketplace. Such places usually have the potential to grow exponentially in a relatively shorter period of time and don’t cost too much. According to Tom, in the world of real estate, never limit yourself. Locate promising markets and seek out regions with forecasted growth. An increase in the labor force and demographic trends are further considerations. New initiatives, like the opening of an Amazon fulfillment center, are particularly encouraging. Additionally, you should consider affordability and look for areas with high absorption and low vacancy rates. Build a strong network. Networking serves as a tool to create relationships for mutual benefit. In the real estate business, it is to build reliable and robust connections. It is imperative to team with dependable individuals that can contribute to the success of your initiatives. You want to find project managers, contractors, real estate agents, financing brokers, and deal sources who are credible, knowledgeable, and would become trusted associates. Having a solid network of professionals will allow you and them to learn, grow and improve your market advantage. Doing your homework is key to making any investment profitable. Capitalize on opportunities when they are present. Being able to expand a portfolio quickly is contingent on two abilities: 1) your capability to utilize the available cash to make a profitable deal, and 2) finding new and reliable financial sources. Master these elements, and you’ll be paving your way to being successful in the real estate business.

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