Business
I had the pleasure of speaking to James Furlo, founder of Furlo Family Homes. James began his real estate investment journey when he was a child. He told his mother that he was interested in investing in Real Estate. Over time he went to College and left California to move to Oregon. He got a job out of college in the tech sector and was able to save up some money to buy a home. Many people in his position would have just bought a home but James was intentional in the fact that he wanted to buy a an investment property first. He had this talk with his wife and they went out and bought their first investment property. James bought his property and began interviewing prospective tenants. He was going through the interview process for his tenant and he knew the tenant wouldn’t be a good tenant. His initial gut reaction was to say no but the tenant was able to convince him that he would be able to get a job soon. The job that the tenant was expecting to get never came. James’ tenant said he wouldn’t smoke inside apparently the garage wasn’t inside. The tenant kept being behind on rent until they got a massive tax refund. This was the moment when something changed within James where he realized that he had to be tougher on his tenants. After this realization James laid the law down on his tenants after this that tenant was gone within 30 days of him telling him that he would have to pay on time. There are two important things to note about this James had read a lot of real estate investment books prior to buying this property. He had an idea what he was doing but doing it was different. Also the other point to pay attention to is that James could have just quit after this set back with this tenant. Now years later after this first “horror” tenant he likes being a land lord. He went on to buy more properties after this and used this as a learning opportunity for him to grow. James was able to continue to buy properties every other year by saving a large portion of his and his wife’s paycheck. By living frugally they were able to continuously grow there property empire. Doing these small things over several years allowed James and his wife to transition out of full time work into self-employment. If you want to find out more about James real estate investing business go to http://furlo.com/. I had the pleasure of speaking to James Furlo, founder of Furlo Family Homes. James began his real estate investment journey when he was a child. He told his mother that he was interested in investing in Real Estate. Over time he went to College and left California to move to Oregon. He got a job out of college in the tech sector and was able to save up some money to buy a home. Many people in his position would have just bought a home but James was intentional in the fact that he wanted to buy a an investment property first. He had this talk with his wife and they went out and bought their first investment property. James bought his property and began interviewing prospective tenants. He was going through the interview process for his tenant and he knew the tenant wouldn’t be a good tenant. His initial gut reaction was to say no but the tenant was able to convince him that he would be able to get a job soon. The job that the tenant was expecting to get never came. James’ tenant said he wouldn’t smoke inside apparently the garage wasn’t inside. The tenant kept being behind on rent until they got a massive tax refund. This was the moment when something changed within James where he realized that he had to be tougher on his tenants. After this realization James laid the law down on his tenants after this that tenant was gone within 30 days of him telling him that he would have to pay on time. There are two important things to note about this James had read a lot of real estate investment books prior to buying this property. He had an idea what he was doing but doing it was different. Also the other point to pay attention to is that James could have just quit after this set back with this tenant. Now years later after this first “horror” tenant he likes being a land lord. He went on to buy more properties after this and used this as a learning opportunity for him to grow. James was able to continue to buy properties every other year by saving a large portion of his and his wife’s paycheck. By living frugally they were able to continuously grow there property empire. Doing these small things over several years allowed James and his wife to transition out of full time work into self-employment. If you want to find out more about James real estate investing business go here.