Twin brothers who turned a single house into nearly $8 million of property share 9 tips for aspiring real estate investors
Courtesy of Kelly and Chris Edwards
The twins, who were in their late 20s at the time, had both been working in commercial banking and noticed a trend among the tax returns they analyzed: The people with the highest net worth owned real estate.Looking at one portfolio in particular, Chris remembers seeing that the client owned a handful of single family properties. "There was a house for sale two doors down from the one he owned," Chris remembers. "We were like, 'We might not be the smartest guys in the world, but we can figure it out.'"Advertisement
After getting the client's opinion on the sale, the brothers bought the house for $88,000 and started renovating it, doing much of the work themselves. In the next two years, they bought another four or five properties, getting to know contractors and developing a system along the way.
Here, over a decade later, they've shared nine of their best tips for people who want to get into real estate investing.