Episode 4: How I got started in Real Estate
Episode Summary
My interest in real estate started at a young age. My dad was a real estate broker and I remember going to his office and reading through MLS magazines. I would ask him why one three-bedroom house was more expensive than another. I was always interested in it and I think it’s a l
1. How did you first get interested in real estate?
My interest in real estate started at a young age. My dad was a real estate broker and I remember going to his office and reading through MLS magazines. I would ask him why one three-bedroom house was more expensive than another. I was always interested in it and I think it’s a little bit in my DNA.
2. What was your first experience buying a house like?
Our first house was in a neighborhood in Lehi. We really didn’t know what we were doing at the time. We walked into a model home and decided to buy it. The house was built in about three months and cost about a hundred thousand dollars. It was a good investment for us and we lived there for a few years.
3. What challenges did you face when building your second house?
Our second house was a lot in Northeast Lehi. We hired a general contractor but he went bankrupt during the process. I had to pick up learning about construction and ended up being the general contractor for pretty much the whole house until the end. It was a challenging experience but I learned a lot about construction.
4. How did you get into mortgage origination?
I started doing mortgage origination around 2004. It was a refinance period of time where a lot of people were refinancing rates because they were down below 6%. I was working from home and calling on these leads. It was a good job and I learned a lot about mortgages.
5. Did you notice any red flags in the market while working in mortgage origination?
Yes, I started seeing things that were red flags. There were weird things happening in the market. At one point, a realtor wanted me to help with a loan for one of his clients and asked me to make up a Social Security number. I refused to do that and it made me realize there were some unethical practices happening in the market.
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