Nathan Cron is the broker at New Western in San Antonio and Austin. They did 370 deals last year!
Nathan is also a good friend of mine and we have done a lot of business together. He is one of my ‘go-to’ guys whenever I wholesale a deal.
In this episode, Nathan shares how he got started in this business by answering a newspaper ad after college. He credits his success to being blessed to get started with that company and getting the proper training. He now gives back by helping people get started through New Western.
He shares the stories of a couple of deals where he bought them, fixed them up and then rented them out for incredible cash flow.
Nathan shares my belief that it’s important to buy conservatively (cheap) and try to stay as debt free as possible. We talk for a while about how the market is always cyclical and if you want to be successful throughout each cycle, you have to be somewhat conservative.
Nathan’s strategy for attaining his goal of $10,000 month in passive income is just plain smart. He waits until he has the cash to buy the house without a loan. This way he gets incredible cash flow, tax benefits and security. He’s also a little different in that he rehabs these houses as if he is going to sell them. Most landlords do lesser rehabs for rentals to save money. He doesn’t want to have calls about broken toilets and clogged drains so he makes sure his rentals will be as maintenance free as possible. This also does wonders with attracting the “right” tenants. The tenants that won’t make your life miserable.
We also talk about how being resourceful is what separates those that succeed at real estate investing from those that do not