Investing is for all types of people, from many backgrounds and schools of thought. You may find similarities among other investors, or learn something new!
Herewith tips and insight, is Bernard Barbour, Investor & World Traveler
Q: Who was your first business mentor?
A: My first business mentor was my platoon sergeant while stationed at Fort Gordon. I noticed, he’d show up for work--first formation, he’d be gone all day, and then return. When I asked what he was up to, he told me he was selling, buying and fixing houses. It was going to be his full time job when he retired in six months, because he didn’t want to work for anyone. That got the ball rolling for me. I bought my first house from him. He showed me the ropes on fixer uppers, how to build equity, and buying and holding rentals. Not long after, I got my real estate license and we worked many projects.
Q: Who was your first mentor in real estate?
A: I met Donald Morant as I was buying houses from the court house: HUD homes and VA properties. I found out he was one of my top competitors. We then decided to collaborate and start a real estate investing club--sharing information about leasing, contractors, attorneys, and so forth. Thus, the Augusta Real Estate Investors Association was born.
Q: What is the best lesson you have learned in real estate?
A: There are infinite ways to make money in real estate: partnerships, owner financing, buy & hold, flipping, etc. Joining a real estate club or starting one was, and has been a blessing for gathering and sharing resources.
Q: How many properties do you own?
A: Currently one. I prefer traveling at the moment, but that number can go from zero to three any time. I used to own 15 or more at a time, but now I keep it simple.
Q: When did you start investing?
A: When I got my real estate sales license in1993.
Q: Why do you Invest?
A: My old adage is “OPM” (other people’s money.) Real estate investing has put my kids through school, paid my bills and allowed me to build wealth, and live a comfortable lifestyle.
Q: What is the best advice you have received?
A: Look at every situation very objectively, but don’t over analyze it. Make a decision and move on it. Seek advice and do it. Real estate is time sensitive.
Q: Do you have a favorite podcast?
A: Bigger Pockets.
Q: Any hobbies?
A: Photography, traveling, fitness, history, flea markets, trade shows, cars, antiques, volunteering, scuba, skydiving, hiking
Q: What is the best advice you could give someone else?
A: Don’t go it alone, join a club...or form one!
Q: Is there a place for you where time slows down?
A: Minca, Colombia or the Sierra Nevada mountains. I currently volunteer and help out with indigenous communities. It's something I’ve always wanted to do.
Q: If you were a member of a music group, it would be _________?
A: It would be great to have a family band. My sister and I have been talking about this for years!
Q: I was introduced to Auben ______.
A: Early 2000’s, not sure of the exact year. That was life changing.
Q: If you weren't investing in real estate you would be_______.
A: traveling the world; exploring different cultures, places, people and things. Or I might have stayed in the military beyond 20 years. As a journalist for the Army, I was privileged to travel and do many interesting things.