There are many house flippers, who end up becoming real estate wholesalers. I think many people feel you become a wholesaler first, and then work your way up to flipping. Many very successful real estate investors like to wholesale, because it takes less time and less money than flipping. On today’s episode of the InvestFourMore Real Estate Podcast, I interview Cory Boatright, who is a real estate investor and entrepreneur. Most real estate investors, think of themselves as entrepreneurs, but Cory has started over 40 companies. Not all of them succeeded, in fact most of them failed, but a couple of businesses hit it big. Cory tells us all about how he started out in real estate at age of 21, started many non real estate related companies and has evolved from flipper, to wholesaler to coach.
How did Cory start out in real estate?
Cory bought his first house at the age of 21, a fixer upper. He was not planning to be a big real estate investor at that time, he just thought buying one house would be a good investment. He bought the house and ended up doing most of the work himself to fix it up. I can relate to this very well, as one of the biggest mistakes I ever made was repairing a flip myself! Cory lived in that house for a couple of years and it turned out to be an awesome investment. Cory was still distracted by other business and was focused on a number of other businesses, including drop shipping. One of the businesses that succeeded for Cory was selling high-end electronics (this was 15 years ago). Those plasma televisions we buy now for $500 were once $15,000 and that was what he sold. He ended up selling that business and then pursuing real estate full-time.
How did Cory learn about real estate investing?
Cory knew nothing about real estate investing, except that he made decent money on the property he bought. He began his education by purchasing every real estate course he could find on eBay. He bought the courses, learned what he could, and then sold them back to other people on eBay. He learned all about flipping, wholesaling, tax liens and many other strategies.
Cory started out flipping, but quickly grew tired of dealing with contractors. He switched his business model to wholesaling and loved it. During the late 2000’s the housing crisis hit and Cory found a new niche, short sales. He started a loss mitigation company that helped agents and investors negotiate short sales with banks. Cory loved working with short sales and the profit that came with it. He even helped develop software to make the short sale process easier. But bank regulations changed how he was able to conduct business and short sales became less profitable as time went on.
How has Cory’s real estate career evolved?
As you can see, Cory has not just been a real estate investor. He has started companies and businesses to help real estate investors and help himself invest better as well. After learning new techniques and better ways to invest, Cory was approached about coaching. The next phase of his real estate journey opened up when he started helping others learn how to invest in real estate. Cory has a thriving coaching business for real estate and as a life coach as well. Cory still invests in real estate himself, but his 60 rentals he once owned were reduced greatly due to a divorce. He highly suggest not getting a divorce!
How can you contact Cory?
Cory can be found at realestateinvestingprofits.com, where he also has a great podcast and many resources for investors.