Episode 245: 1st Two Years as a Houston House Flipper

Ricardo Rosales was born in Atlanta Georgia and raised in Venezuela. At 17 years old, Richardo moved to Miami, Florida to go to college to then dropped out. He worked on the family business from a very early age until around 20 yrs. of age. At 21, he joined the US Navy, stationed in Ingleside, Tx worked in the engine rooms aboard the USS Gladiator as a Diesel Mechanic, and during those 4 years was awarded 3 Navy and Marine Corps Achievement Medals and several other awards. At 25, he left the US Navy to pursue employment in the Oil and Gas industry where he became a Subsea Service Technician and worked offshore all over the world for about 8-9 years. At 27-28, Ricardo was sitting on the couch watching a tv show called Flip This House and got interested in real estate. He then bought first investment property after a few months. At 34, he had already completed part-time over 50 rehabs and was now the head of 100M a year business unit for one of the largest Oil Field Service Providers in the world. At 37, Ricardo got laid off and decided to go full time in real estate in August 2015. He has completed over 200 rehabs (Holds and Flips), started a wholesaling business in the Houston area, currently has 23 flips ongoing and a few other properties rented, a few properties on the market for retail as well as for wholesale. He raised Millions of dollars in private funds, and at 39 co-founded CashFlow Marketing Inc to provide a service to the industry of direct mailing. At 40 years of age, Ricardo is looking to expand his network and learn other strategies in the commercial real estate as well as multifamily units, expand the wholesaling business and marketing business. What you’ll learn about in this episode: Ricardo’s career journey from military service to real estate investing, and how his path shaped his outlook on life How Ricardo used the internet to educate himself about the real estate investing industry How Ricardo set up and operates his business, and his process for buying investment homes Why successfully buying homes is as much about helping sellers as it is about making money Why channeling your passion and finding meaning in everything you do is crucial to your success and happiness Ricardo’s process for rescuing and flipping houses and how it has evolved to meet his business needs and market conditions How Ricardo got started using Airbnb to make money on houses that have proven slow to sell Ricardo’s advice for new investors just starting out in the industry Resources: REInvestorSummit.com/note REInvestorSummit.com/Grow REInvestorSummit.com/coaching REInvestorSummit.com/100 REInvestorSummit.com/101