Real Estate Investing Crash Course Pt 1-Gregg Fous

Gregg A. Fous has been in the real estate business for three decades. While he is also a real estate broker, he specializes in condominiums and waterfront properties as a real estate investor. Those who want to learn how to make huge money from these lucrative niches must pay attention to what Gregg Fous has to say. In 1982, he bought his first real estate property in Ohio. The eventual industrial salesman apparently had a gift for understanding deals and negotiations. The bus terminal he acquired was for sale by bank. While he agreed to pay it at full price, he negotiated that payments or interests will be deferred for three months. He also arranged a new lease agreement with the existing property tenant, who ended up buying the property from him for twice the amount of investment five years later. Born in New Jersey, he moved to Fort Myers in 1991 and started investing in residential and commercial properties. He expanded his portfolio with single-family homes, duplexes, and multi-family properties. The president of Market America Realty & Investments, Gregg Fous also ventured into flipping houses, with distressed properties as his favorites. Among his notable purchases of rental properties was a 25,000-square-foot office building in Fort Myers. He improved the property’s condition to increase the occupancy rate from 60% to 100%. Three years later and after $300,000 worth of investment, he sold it and pocketed $1 million. His fascination with waterfront properties meanwhile started in the mid-1990s when he purchased a property on Fort Myers Beach. He used it as a rental property for three years before reselling it for profit. He also bought a condo at the mouth of the Caloosahatchee River. He sold the property he bought for $515,000 for $840,000. He used it as residence for two years and sold it without capital gains taxes.