Manage episode 255815043 series 2449825
As the owner of Rehabs 2 Riches, Alton Jones has spent his life making connections. Right out of high school, he joined the Los Angeles Police Department and became a police officer. During that time, he had a lot of interesting experiences and met a variety of fascinating people. Now, 30 years later, he’s still a reserve officer.
In 1996, he joined Primerica Financial Services and became a licensed life insurance agent, eventually rising to the position of Regional Vice-President. A few years later, things changed. He saw families and good people experiencing tough times due to a bad economy and a terrible real estate market. If things had been a little different, it could have been his family in the same situation. He knew he wanted to help somehow, to give back. That’s what motivated him to earn his real estate license and establish West Coast Home Buyers, LLC., purchasing and remodeling homes to make them affordable for local homebuyers.
Working alongside his mentor, the legendary Ron LeGrand, 14 years of real estate experience has taught Alton two things. First, rehabbing homes is a way to help others, giving them a chance to buy beautiful and secure homes. Second, by working hard and working smart, rehabbing can be highly profitable. These lessons led him to develop Rehabs 2 Riches, a series of courses and books designed to teach anyone how to seize financial opportunity for themselves.
Now, he has the privilege of passing on what he knows and watching his students reach heights they never thought possible.
What you’ll learn about in this episode:
- How Alton left his career as a police officer and moved to real estate, and how he realized HGTV shows were no substitute for a good real estate mentor
- How Alton made the transition from low-value deals to higher-end deals after realizing he didn’t need to use his own money
- How Alton’s average deals achieve an average net profit of $123,000 and how he is currently doing a deal that will complete for $280,000 profit
- How the current housing landscape in California is allowing investors to do new deals quickly and for higher value
- Alton provides an example of a three-bedroom two-bath house he bought for $655,000, with all-in costs of $270,000 in repairs, and got a cash offer for $1.375 million
- Alton shares another deal he’s working on for a home purchased for $750,000 with a $350,000 repair budget that he anticipates will sell for more than $1.6 million
- How Alton made $870,000 on a single Hollywood rehab property deal over the course of 18 months
- How credibility and his experience serving as a police officer have contributed to Alton’s real estate business
- How to enroll in and participate in a free www.meetup.com training session to learn from Alton and his team