The Success of a Young Investor
One of the common concerns that people raise about getting started in real estate is the idea that it’s too difficult to get into the market. Maybe they believe it costs too much money to get started investing, or maybe they think that real estate is too hard to learn to do properly. Maybe they are concerned that it takes too long to really get rolling and see returns on their investment.
That’s why I want you to meet Diego Corzo. Diego is a remarkable young man. At 28 years old, Diego now owns eighteen units spread across three states. He is a successful real estate agent, investor and motivational speaker who has built up his investment portfolio in less than five years.
Diego has also had to deal with extra challenges that most investors never have to face. As a Dreamer and DACA-recipient, Diego wasn’t able to do something as basic as legally work or obtain a driver’s license until he was well into his 20s. However, through perseverance, dedication and a drive to learn, Diego has been able to overcome these challenges and build a thriving business and an impressive investment portfolio.
In this episode of the Real Estate Investing for Professional Men and Women podcast, I talk with Diego about his drive to succeed, the investment strategies he has used to start and grow his portfolio, and some of the successes he has been able to achieve with his investments.
Starting Out by Hacking Houses
Diego graduated in the top 1% at Florida State University and went on to a position as a software developer, but it wasn’t long before he realized that corporate work wasn’t for him. After reading the influential book Rich Dad, Poor Dad, Diego decided to pursue his passion for real estate.
Diego got started by using a strategy called “house hacking”. House hacking is when you purchase a multi-unit property (duplex, triplex, etc.), reside in one of the units and then use rental income from the other unit(s) to pay for the entire property. This strategy allowed Diego to live rent-free, own his first property, and use the money he otherwise would have put toward housing expenses to fuel further investments. Diego is a shining example that anyone can get started in real estate using smart strategies that fit their circumstances.
A Dreamer with a Dream
As an undocumented immigrant brought to the United States when he was very young, Diego has had to adapt his investment strategies to an uncertain future. Investing in properties and waiting for them to appreciate in value wasn’t a viable strategy for Diego, so he decided to focus on monthly cash flow instead. Bringing in steady income has allowed him to further expand his investment portfolio and has set Diego well along on the path to financial freedom.
Diego Corzo shows us that many of the common concerns potential first-time investors experience are able to be overcome using smart strategies. Diego was young, inexperienced, had limited start-up money, and had his status as a Dreamer working against him, but in just a few years he has been able to rapidly grow his investments alongside his work as a real estate agent. Diego took a chance on himself and it has truly paid off.
Want to hear more? Listen to this podcast here.