Meet Michael Hicks. He is a family man, avid fisherman, competitive clay shooter, and real estate investor.
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 are a few tips and insights from Michael.
Q: What is your favorite book?
My favorite book is The Richest Man in Babylon, written by George Clason. It’s a great book. It provides financial advice through a collection of parables written during the times of ancient Babylon.
Q: What is the best lesson that you have learned in real estate?
Ask For Help
Don’t be afraid to ask for help. There is always someone out there who has already made a mistake that you’re about to make. Experienced real estate investors are typically willing to share advice. If you are unsure about a decision, ask for help from someone wiser. It will save you a lot of time, money, and grief.
You Can Get The Right Price or The Right Terms
When negotiating, you can create a great deal by getting the right price or the right terms. You can never have both. Be creative with your deal-making, and don’t be afraid to ask for owner financing when buying.
Q: Why do you Invest?
I invest in real estate because I want to leave a legacy for my family, and I enjoy helping others by giving back. I also enjoy the thrill of creatively structuring a deal.
Q: Is there a place for you where time slows down?
A: On the Tennessee River with a fishing pole in my hand.
Q: If you were to start over_______.
A: I would have started looking for higher-priced homes. It’s just as easy to buy a $100,000 property as it is to buy a $30,000 property. I’d rather have ten $100,000 homes rather than thirty $30,000 homes.