A real estate investment success story: from prison to wholesaling - Business Insider

Growing up, he was a good kid and an avid athlete. But after hitting high school, he started hanging out with "the wrong crowd," as he described it to Business Insider.

After Lovro was released, he went to live with his aunt and uncle in Columbia, South Carolina, where he began waiting tables at a small restaurant called The Blue Marlin."I would work every single day, relentlessly. I would just work and save, work and save," he continued. "So I started investing in that. I figured I could have one of the largest DJ companies in town and hire a bunch of DJs that I could book out. But then I read the book "," and it completely changed the trajectory of my life," he said.

He studied for about six months before he purchased an investment property out of state for $18,000. Lovro described the investment as a high risk one. "For a new investor, it wa probably not the wisest place to start." It took him nearly eight months to sell it, and he made just a $5,000 profit. However, it was through that first investment that he stumbled into wholesaling — a process in which the wholesaler contracts a home with a seller and then finds someone to buy it.

Lovro then hired another assistant, also in the Philippines, to pull public data for him on distressed properties in his area. Using this public data, Lovro would connect with homeowners to see if they would be interested in selling. "I had so much trouble breaking through that standstill point," he said. "But then I just got better with the systems and the processes and I brought on a couple new cold-callers and got more strategic with the lists that we were hitting.

Now, just three years after his first investment deal, his business brings in an average of five deals a month — which equates to about $50,000 monthly.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Phone booth-like tiny room could be an office inside your living room - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Accenture talks real estate plans and remote work on earnings - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »

PwC innovation lead on company investments during coronavirus - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Tanium valued at $9 billion after Salesforce investment - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. More evidence of a massive tech bubble that has eclipsed the Y2K tech bubble.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Nike posts surprise loss as COVID-19 hits wholesale businessNike Inc on Thursday reported an unexpected quarterly loss - its first in more than two years - hurt by closures of department and retail stores due to lockdowns spurred by the COVID-19 pandemic. Looting? Supply Chains fueled by10 year old kids in sweat shops making $3 a week isn't enough to keep Nike in the black? Maybe their Chinese overlords will make up the difference.
Source: Reuters - 🏆 2. / 97 Read more »