About the Author: Cory Boatright
Cory Boatright has been published in the Wall Street Journal and Fast Company for his success business aptitude. He is an international speaker, real estate trainer and coach, published author, radio host and real estate investor. He serves on the Board of Directors for MPREIA (Landlord Real Estate Investor Association) and does private consulting for many real estate companies worldwide. He is the owner and Founder of ShortSaleology.com, a world class brand that offers real estate coaching, mentoring, educational books and CDS, software, services and training programs. His company has discounted millions of dollars in debt from hundreds of banks all over the country via short sales and is considered an authority on creative real estate, especially short sale real estate investing.
"Cory Boatright is a flat out genius, yet he doesn't showboat all his wisdom like other gurus. His short sale knowledge is unsurpassed and his team handles all our short sale work. Listen to him and take notes." Tim Mai -- CEO of DoDeals.com and co-author of New York Times best-seller "The One Minute Millionaire"
Allow me to share my story with you.
My name is Cory Boatright. I am 35 years old and since my early twenties I have started, run, or been directly involved with almost 40 different companies.
I have sold everything from Ginsu knives on eBay, Kirby vacuum cleaners door-to-door, all the way to $50,000 high-end electronics Online.
Out of the forty-something companies only TWO of them ever proved to be worthwhile endeavors. The other thirty-eight I decided to call "business therapy".
Interestingly enough, both of the successful companies harnessed the power of the Internet to make their profits. After bringing in almost 4 million dollars in sales from my first start-up. I sold it and directed my passion to the world of real estate investing.
Why real estate?
Well, most of my affluent customers in my first business owned real estate so I knew there was something to be learned in that industry. I was a complete novice to it And...oh...by the way before I forget...did I mention that I didn't even graduate from high school? Apparently my drive to succeed coupled with my persistence to not fail clouded my judgment of the value of a formal education. So instead, I settled for a G.E.D.
I'm not looking for any pity-party. I just mentioned this to demonstrate that if a highschool dropout can make it, the doors are open for just about anyone else to do it too.
Now fast forward a bit into my real estate experiences. I started out being a "bird dog" which means I was out finding good deals on properties and getting paid a finders fee for it. That fee was usually $500 -- $1,500. After I learned how much money the investor was making selling the houses I was bringing him, I quickly learned how to assign, wholesale and flip distressed properties.
That brought in checks anywhere from $3,000 -- $10,000. Not bad, but I had a hunch those properties were worth a lot more after they were fixed up.
So I decided to put together a "skeleton" rehab crew and thought I would make $15,000 -- $30,000 per deal, but I was sadly mistaken.
My rehab attempts ended up being more of a mirage instead of a real profit center. My $30,000 paydays actually came out to be more around $17,500 after considering all the contractor frustrations, material costs, labor, marketing, selling and other holding costs.
Needless to say I had more fun assigning contracts.
It wasn't until around 2004 that I stumbled my way through a short sale and I made over $30,000 on that deal!
That was the most money that I had ever made on one single real estate transaction.
I couldn't believe the lender would accept less than what was owed for a payoff.
I was immediately hooked and quickly learned everything possible about the short sale process. The more I learned about Short Sales, the more I was asked by other investors to partner on deals.
I quickly became known as the local "go-to" guy for doing short sales. Other investors continually asked me how they too could learn to do what I was doing. So after being asked by numerous fellow investors to teach and coach them on the subject, I decided to "dive in head first" and write my first information product/home study course.
What I discovered in real estate investing was something I never expected. Not only was the short sale niche secretive, but the entire industry. And the "real truth" was shared only amongst a small, tight knit group of investors, but not anymore.
I've cornered the "top dogs" in their niche of real estate investing and forced them to talk. When you finish reading "Real Estate Recession Riches" you are going to be smarter and wiser newbie or advanced real estate investor. Period.
Remember... be a servant,
Cory Boatright
Cory Boatright is a flat out genius. Listen to him and take notes.
- Tim Mai Co-author of the NYT Best Seller "The One Minute Millionaire"
