Evaluating Neighborhoods - Todd Dotson

Todd Dotson is known for his system of wholesaling houses, “Get In Get Out Get Paid.” If this plan sounds like a good one to you, then this is the real estate investing mentor you should listen to. He was once billed a “real estate rebel” because of the unconventional – and apparently effective – methods of generating income from real estate. Today, he is the president of Todd Dotson Training Systems. He is also the founder of the Tactical Real Estate Mastermind Group. Born in Oakland, California, Todd Dotson grew up in the San Jose area. Although he graduated with degree in English from the San Jose State University, his paper was geared towards what made people in America rich. He discovered that he wasn’t going to be rich through inheritance or starting typical businesses – the top two on his list of sources of riches. He gained some interest in real estate because it was No. 3. And like most real estate investors, he began investing in real estate after seeing an infomercial on TV. “I was planning to be married in a few months, and saw this as an opportunity to start a lucrative career. So, I purchased my own set of books and tapes and became serious about it,” he said in an interview. He encountered problems even before he started. At that time, houses at the San Jose/Bay Area were selling for about $300,000 and renting for about $1,800 a month. He discovered that the “buy, rent, and hold property” philosophy wasn’t going to work there. He ended up closing his first rental property in Modesto, two hours away from San Jose. Time came when he owned more than a hundred properties. However, he was still not getting the “passive income” he expected because he had to watch over the properties for the deals to work. It was then he figured the “Get In, Get Out, Get Paid” strategy of wholesaling houses. Asked whether he considers himself a real estate rebel, he says he is indeed one. That’s because he does things differently. While a lot of mentors recommend building a portfolio of properties early in their career, Todd Dotson says this is not the ideal way to start in real estate investing. “Holding rental property in highly appreciating markets needs to be part of your plan, just be sure to solidify your financial base first. Take care of your cash needs today so you can have sustained success along the road to building wealth,” he says.