Jay Conner’s special guest Jay Drexel shares his story on how he started in the real estate business.
Over 10 years ago, Jay Drexel discovered Tax Default Property Investing. Today he owns over 700 Tax Default Investments and buys a couple every single week from his home office.
These investments are in multiple states, they are making anywhere from 10% to 25% ROI. He’s a full-time investor and educator teaching students all over the country about how with the right education, technology, and coaching, you can invest safely and successfully in tax liens from the comfort of home.
For more valuable information click on this link and watch the complete episode: – https://youtu.be/rbrwXPwusDU “Tax-Defaulted Properties with Jay Drexel & Jay Conner”
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Jay Drexel’s Secret Origin In Real Estate
Jay Conner:
Tell us your backstory. How did you get into real estate investing?
Jay Drexel:
Well my backstory. I grew up blue collar family. I’m one of eight kids and I never learned that whole thing to work smarter, not harder. I was physical labor. I was a garbage man for several years. Basically around the crash, 07-08.,I lost my job and ended up my home, went into foreclosure. Didn’t really was not in academia at all. I was not a book learner at the time and I knew that what I was going through this I’m a single dad. I had customer a son, and I was forced to move in my mom’s basement, which wasn’t very cool in my mid thirties. So I basically heard and read just like you and so many great investors out there that real estate is the number one way to create wealth. But I knew nobody in real estate that had any bit of success.
I didn’t know how to get access to money. I had very little, couple of hundred dollars to my name at the time. Of course live in my mom’s basement. I was working part-time in a friend’s video game store. So a kid, the kids job that I got made fun of by teenagers all the time, because I didn’t know anything about the games. I didn’t know how to get into real estate. I wanted to be just like you, I want to be an investor or own doors. I wanted to flip properties, but I had no idea how to go about it. And I didn’t know that there were awesome people like you out there that can coach and mentor. I had no idea any of this stuff existed. And I happened to be doing retail arbitrage to make some extra money, which was selling stuff on eBay at the time
And I stumbled across a book called the “16% Solution” written by a guy named Joe Moscowitz. Now it’s dated now but it basically just explained tax sales. And I remembered seeing some infomercials on them and they made it look really simple and easy. And they said, you could invest with just a few hundred dollars. I said, “Okay, I can do that.” I showed up to a live sell and it wasn’t anything like that. I didn’t have anything affordable for me to buy if you’ve ever been to a tax sale, you know, they usually have the highest price stuff they’re bringing money to the local government found out about direct by tax things from a county, from another investor there, or what a lot of people call it OTC over the counter tax liens. And I made my first investment for $72.
A few months later, I got a check for 85, so $13 profit but it was 18% return. That just got me going and it eventually led me to different types of real estate flipping and obviously rentals all those things, but it was my entryway. And that’s really what we focus on now is, “Hey, no matter what level you are, we can show you how to at least get one investment to get you started and it’s just to get that ball rolling.” And as I said, that was a little over a decade ago, almost a decade and a half, and I just consistently continued to buy. And so I could acquire actual properties through tax sales and eventually traditionally, or many of the ways that you educate on. And that kind of led me down that path where now things have went digital virtual, which we all seem to love now. Now I buy consistently every single week and complete the complete tax sale game has changed, especially in the last year or so because of the pandemic where earning is weren’t able to have live cells anymore. So a lot of things have moved online. Now you can buy liens and deeds all over the nation every single day of the year online. So it’s really, really changed. That was my long story long.
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