Real Estate Investing Mogul Shares Insider Knowledge

T here's no doubt about           that passionate about what he's    it—the Orange County          discovered. The biggest surprise   housing market today is a       element in his story is he's not   tough place to live. In fact,         a successful senior citizen or     everyday we read headlines about      even a bonus-baby boomer.          people either a) seeking creative     Donaldson is only in his           financing to purchase their           mid-thirties.                      Orange County dream home, or b)                                          figuring out where to move            Donaldson began investing in real  outside Orange County to              estate in his early twenties.      live—and still find a job.          Within ten years, in 2004 he                                             "retired" from corporate life.     But what if you could have a job      Today, he is president of Avalon   you love that lets you live           Properties, which owns more than   anywhere you want and not worry       one hundred Orange County housing  about how to afford it? What if       units, along with mobile home      that job had unlimited income         properties and storage units in    potential, promised both personal     several out-of-state locations.    and professional growth, let you                                         spend time with friends everyday,     "I've always had an                and benefits others while it          entrepreneurial spirit,"           benefits you? Orange County           Donaldson said, "so I know that's  businessman Corey Donaldson           helped. But what I've learned in   insists in can be done. In fact,      a relatively short time convinces  he's living proof.                    me that almost anyone who wants                                          to be free from the nine-to-five   An entrepreneur since his college     grind can do it."                  years, Corey not only knows the                                          secret, he's eager to share it        By relatively short, Donaldson     with anyone who'll listen. He's       refers to a period of about ten    years. In that time, there have       rents from someone who owns a      been a few failures—as there        home or apartment, works for a     are with all attempts. But each       business that owns property or     failure, Donaldson says, has          does business with people who      provided an opportunity to learn.     rent or own property. Life         And each fall is a little less        happens in places and on places.   painful than the last, with a         Buildings, ground, space—we all  speedier recovery.                    use it. So it's a natural                                                resource for investors and         Donaldson's winning ways do not       provides greater stability with    involve getting rich quick.           less risk than other commodities.  Rather, he emphasizes, finding a                                         life that works for you. "When                                           you love what you're doing, it        The stock market, for example,     doesn't seem like work at all. I      offers great potential rewards.    know a lot of people are              But the losses can be              frustrated in their jobs, but         devastating, and sudden. Even      finding something fun to do that      with all the help available from   makes money for you isn't as hard     books, radio programs and TV       as it looks. If I can do it,"         analysts, it's a risky business    Donaldson said, "anyone can."         to be in. A stock that looks                                             great today can tank tomorrow.     Look for Real Opportunity             Real estate is different. While                                          it, too, fluctuates, the roller    The particular world Donaldson        coaster ride is a lot slower. You  has succeeded in involves real        can watch it and anticipate the    estate, which is something            dips, curves, highs, lows and      everyone deals with at some time      wild moments. In time, a smart     in their lives. After all,            student of the real estate market  everyone either owns a home,          learns to predict future trends.                                         anything to work, you must be                                            ready to make a commitment you     Donaldson's adventure began when      can't turn back on. People who     he bought his first place, a          make it, Donaldson said, are       duplex in Costa Mesa, and rented      those who don't mind living        out the other half. Between rent      "close to the ground," willing to  money and his day-job, he was         trade a wealthy lifestyle now for  able to move up to a triplex          long term profits down the road.   within a year. Timing was right       "If anything claims to be easy,"   and his property values rose.         said Donaldson, "like many of      Before long, he had two four          those late night infomercials on   plexes. His plan—an important       TV—be suspicious," and be very   thing to have from the                afraid.                            get-go—was working beautifully.                                                                              That said, when you understand                                           how real estate investment works   Today, in addition to owning          the possibilities are almost       multiple properties, Donaldson        endless, Donaldson said. Just be   offers seminars to help others        ready to do the work it takes. In  succeed. While there's a lot to       other words, once you start to     learn, he points to four key          paddle out, don't turn around and  elements that have helped spell       head back for shore.               success for him.                                                                                               2. Build Your Knowledge            What You Need to Succeed                                                                                       No matter what we might want to    1. Make a Commitment                  do these days, there's some way                                          to learn it. Where we go wrong is  Recognize nothing worth having        in failing to read the             comes easily. If you want             directions! "What I see are too    many people buying property all                                          over the place without really         Bottom line: find others who've    studying what they're buying          been where you want to go as well  first," Donaldson said. "I            as those headed in the same        recommend becoming a local market     direction, and learn all you can   expert, because all real estate       from them. Which brings us to tip  is essentially local. Know what       number three.                      you own."                                                                                                      3. Find a Mentor                   Tools for learning can be as                                             intense as a seminar, as              No matter what we want to learn,   informative as reading books, and     we can learn it better and faster  as basic as studying the market.      from someone else who already      Learn how someone else did it,        knows the secrets.                 then take those tips and modify                                          them to fit your own unique           "One of my first business          personality and work lifestyle.       opportunities," Donaldson                                                recalled, "came when a woman who   For a couple of years now,            lived in my home town back in      Donaldson and his partner, Kyle       Connecticut asked me to recoat     Kazan, have hosted seminars on a      her driveway for her. I'd never    regular basis. These forums           done anything like that before!    provide a great way to share          But she asked, ‘Do you know how  information, learn from others,       to paint a wall?' I figured,       and network. Clubs are another        sure! She told me that she had     great learning forum. "I host one     seen her husband do it a million   in my home every month,"              times and she would teach me. The  Donaldson said. "It's a great way     job took about 4 hours and she     to meet people and help them get      paid me $200 for my efforts. I     started."                             was able to turn that $200 into    what became the largest               what he would charge me for this   residential sealcoating company       training. ‘Nothing,' he          in the state of Connecticut. The      answered. ‘I had the best time   sealant business that I started       of my life.'                       that day paid for my college                                             education—and that of my            "I couldn't believe it! Here was   brothers and about 5 long time        this great, successful man,        friends.                              teaching me virtually everything                                         he knew—for the love of helping  Then there was the time Donaldson     someone else succeed. Well,        decided to go right to the            needless to say—I was hooked.    source—he called Ernest Tew,        I've been in the mobile home       the acknowledged "godfather" of       business ever since. And I love    mobile home estate investing.         to teach others how to do what I   Sometimes finding mentors takes a     do."                               little boldness. For Donaldson,                                          this move paid off in spades.         4. Cultivate a Support System                                                                               "He invited me to spend a few         Have you ever been a member of a   days with him in Florida, so I        team, either in sports, at work,   did. What a treasure hunt I was       or just for fun? Remember what it  about to embark on! As he             was like, having everyone working  traveled the state, I went            for the same goal? Successful      everywhere he went, zigging where     people do that in their            he zigged and zagging where he        professional lives. They build     zagged. En route, I must have         teams of like-minded people,       asked him at least a thousand         networks of folks headed in the    questions.                            same direction. "It's great!"                                            Donaldson said. "I get to spend    "At the rainbow's end, I asked        all day, everyday, with my         friends."                             determined not to let other                                              people down.                       Where can you meet people like                                           that? It's not as hard as you         "When I set out to help someone    might think. Maybe you've even        else succeed, I see it through,"   mastered the technique to some        said Donaldson. "Of course, there  extent. Most of us have friends       are seminar junkies in every walk  who enjoy the same hobbies or         of life. These are people who      interests. What Donaldson             attend everything and go nowhere.  advocates is just an extension of     That's where you need to take      that idea—finding friends in        that first step—make a           your chosen profession.               commitment. If you can't decide    Everyday we read headlines about      or you're unwilling to take a      corporate deception, greed and        risk—even a relatively safe      corruption. Sadly, the pressures      risk like real estate—you're     of competition often bring out        better off not wasting your time   the worst in people. The end          or money."                         result: no one wins. But when                                            your goals involve helping others     Wherever you hope to succeed,      succeed, Donaldson observed, that     Donaldson believes these           competitive edge softens              principles will help you get       substantially. Most people really     there. Be committed to your        want to help others make it.          dream, learn all you can about                                           it, find a mentor who's been       Know Yourself                         where you want to go, and                                                cultivate a strong support         Another critical piece in             system.                            achieving success is to know your                                        own core values. Take pride in        "With these tools, you'll reach    who you are and what you do. Be       your destination and have a great  time on the journey. And maybe,       Orange County—and have a few     like me," Donaldson grinned,          bucks left over."                  "you'll find you can live in                                          About the Author: You can learn more about investing in mobile homes by visting http://www.mobilehomeuniversity.com Source: www.isnare.com