On this episode of Investing in Real Estate, I’m excited to share another investor story. Morris Invest client Geiby joins me to share his experience building a strong financial education and how he grew a portfolio of three properties with our team.
In this interview, you’re going to hear how Geiby got started in real estate, how he financed his properties, and the role that financial literacy has played in his journey. We’re going to talk about self-directed IRAs, non-recourse financing, new construction rental properties, and more!
More About This Show
Geiby was born and raised in the Middle East, and after high school, he moved to Texas for college. He earned two degrees in an undergrad and graduate program from Texas University.
He started his professional career in the oil and gas industry, and then in 2016, he was laid off. During this time, his parents encouraged him to pursue real estate. He grew up hearing about the power of investing in real estate, but he wasn’t sure how to start.
In February 2020, Geiby found our podcast and YouTube channel. Every day, he dedicated himself to learning something new about real estate investing. Eventually, Geiby knew that he needed to take action. Once he knew that he had the support of his wife, he decided to schedule a free call with our team. During our purpose-driven goals exercise, Geiby really had to consider why he wanted to invest.
Geiby decided that financial freedom was important to him. Working in the oil and gas industry, he often works up to 50 hours per week. Additionally, he and his family are involved with their community here in outreaches, like food distribution and helping refugee families. Real estate investing gives him freedom to focus more on what he loves. Although Geiby enjoys his job and continues to work, investing in real estate allows him the financial freedom to pursue what he loves.
As far as the mechanics go, Geiby was able to roll his retirement account into a self-directed IRA. Our team educated him on this process, then we moved forward on a three-way call with the provider. By using non-recourse financing, Geiby was able to purchase two rental properties in his self-directed IRA. After having a great experience, he decided to buy another property. For more, watch Geiby’s interview below.
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Texas Rental Property Walkthrough
The Power of a Self-Directed IRA for Building Wealth
Non-Recourse Financing for Buying Rental Properties
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DISCLAIMER: I am not a financial adviser. I only express my opinion based on my experience. Your experience may be different. These videos are for educational and inspirational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. There is no guarantee of gains or losses on investments.
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