The Note Closers Show - The #1 Podcast for Note Investing Modern Day Land Barons: Rick & Crystal Rumer's Note Investing Journey
The recent Note Closers Show episode featured Rick and Crystal Rumer, a dynamic Texas couple who've built a remarkably successful real estate investing business. Their journey, from corporate jobs to full-time real estate investors specializing in land notes, is a testament to hard work, strategic planning, and a healthy dose of Texan grit. Get ready for some serious inspiration – and maybe a chuckle or two!
Rick and Crystal's story begins long before they became full-time real estate investors. Rick worked for JPMorgan Chase, while Crystal was in sales. Both had early successes with rental properties, but they initially dabbled in several real estate ventures before finding their niche. Their entrepreneurial journey mirrors many investor journeys, which often includes learning from mistakes, pivoting from one approach to another, and a fair share of trial and error.
From Rental Properties to Land Notes:
After leaving their corporate jobs, Rick and Crystal initially focused on fix-and-flip properties and wholesaling. They even considered purchasing hotels, a move that would have put them in a much more crowded market. But their most profitable ventures came from focusing on land. They realized that by purchasing larger tracts of land, subdividing them into smaller lots, and owner-financing those lots, they could generate substantial returns and achieve remarkable financial success. Their story reminds us that sometimes the most lucrative opportunities lie outside the typical investor's playbook.
Key Takeaways from Rick & Crystal's Success:
Rick and Crystal's success in land note investing can be attributed to several key strategies:
- Strategic Location: They focus on high-growth areas with strong demand for land, such as the Golden Triangle of Texas (San Antonio, Austin, and the surrounding areas), maximizing their returns.
- Long-Term Vision: They aren't afraid to make long-term investments and build relationships with investors and buyers. In the land note business, time is on the investor’s side!
- Owner Financing: They utilize owner financing, making the deals more attractive to buyers and generating consistent cash flow.
- Teamwork: Rick and Crystal emphasize the importance of working together, leveraging their individual skills and strengths. This highlights the power of a strong business partnership.
- Effective Marketing: They rely on a combination of networking, referrals, and targeted marketing strategies to find new investors and buyers. This includes utilizing direct mail and a strong online presence.
Embracing the Challenges:
They share some of the common challenges and pitfalls faced by investors, including the importance of using private money, managing risk, and working with other investors and lenders, not just the buyers. Their experience highlights the value of carefully vetting potential partners, especially when dealing with large transactions. They provide several examples of when a deal went off the rails and how they navigated these challenges.
Conclusion:
Rick and Crystal's story is a compelling example of building wealth through real estate note investing. Their success underscores the importance of specializing in a specific niche, building strong relationships with investors and lenders, and creating a well-structured business model. Remember, even experienced investors like Rick and Crystal made mistakes along the way, highlighting that there's always room for improvement. Their story is filled with inspiration and serves as a reminder that perseverance, adaptation, and teamwork can lead to significant financial success in real estate.
Watch the original VIDEO HERE!
Connect with Rick & Crystal HERE!
Love the show? Subscribe, rate, review, and share!
Join the Note Closers Show community today:
- WeCloseNotes.com
- The Note Closers Show Facebook
- The Note Closers Show Twitter
- Scott Carson LinkedIn
- The Note Closers Show YouTube
- The Note Closers Show Vimeo
Book a call with Scott today at HTTP://TalkWithScottCarson.com to see if 1:1 Note Coaching is right for you!