How Carleton Sheets got going in real estae investing
November 13, 2008 · Print This Article
The partnerships became bigger and bigger. My specialty was “rehabbing” the properties—painting, plastering, and landscaping; whatever it took. Within five years I created what I thought was an incredible fortune in real estate. At my peak, my partners and I owned almost 500 rental units.
My reputation as a real estate investor continued to grow and, after a couple of years, a local real estate education company asked me if I would be interested in teaching a course on the principles of investing in real estate. I thoroughly enjoyed teaching, my classes were well-attended and my initial “students” were very responsive.
But about five years after I became a serious real estate investor, I found my career spiraling downward. I lost nearly all the profits I had built up. What happened? Was my new career founded on air instead of solid ground?
The combination of overbuilding, the energy crisis (remember the long, snaking lines at every gas pump?), and my own inclination to buy any real estate that came along with the right terms—regardless of location or actual investment potential—was deadly.
Carleton Sheets is an expert real estate investor and the author of the No Down Payment System. Of course, Carleton is an avid real estate investor. However, he is also passionate about teaching others about how to build their real estate investment empire.
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