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Our Story: Stepping Into the World of Real Estate

March 28, 20234 min read

OUR STORY:  A STEP IN THE WOLRD OF REAL ESTATE

Stepping into the world of being an investor, there are many routes in investing your money, some choose stocks, bitcoin, index funds, and we chose Multifamily Real Estate. Now how did we step into the world of real estate. Well first and foremost my mother Glenda Delin Viloria, first bought her house after the initial market crash in the year 2008. The house was initially bank owned and was vacant for about two years due to its poor condition as a result of the last owner damaging the house when the bank foreclosed the property from them. My mom was able to buy the property for $200,000 but there was a lot of work that needed to be done in order for the property to be livable. In the properties renovation, the old carpet was to be removed for new tile flooring, the kitchen counter and cabinets had to be replaced, new bathroom vanities along with new appliances had to be installed, light fixtures had to be replaced with new LED lighting,  electrical outlets had to be replaced, the dry wall had to be fixed, the entire house needed a new paint job, and my mom also installed a security camera.

In the year 2015, my mother decided to rent out her house. She had many applicants who wanted to rent her house, a good amount of them had good credit and were more than capable to rent her house but she decided to give the opportunity to a family of five that was in the process in Section 8 and were living condition where they have to live in one room while sharing the kitchen and bathroom with other families. She made this decision because the family needed it more than the other applicants and their story reminded her of our own struggles when we first moved in Hawaii when I was diagnosed with leukemia in the year 2001, which resulted in us living in Ronald McDonald house. To my mom’s memory, the three children’s faces were priceless when my mother gave them the key to the house, and it made my mother happy knowing that her hard work was able to help another family in need. During their stay in my mom’s house, they were able to pay their rent portion on time and Section 8, they took care of the place like it was their own and best of all the kids were able to go to a better school due to the location of the property, and as time went on the oldest daughter was able to graduate high school when she turned 18.

In June 2021, my mom decided that we needed a bigger place to live. She decided to sell the house and had to do a 1031 exchange construction since she didn’t want to pay the tax on her capital gains. My mom was reading so many articles about 1031 exchange online since her broker knew how to do a regular 1031 exchange but not construction. In this process her broker had to hire a 1031 exchange CPA/attorney and an Investment Property Exchange Services to guide her through the process while educating herself to make sure she doesn’t sign anything that might get her in trouble and finally all the work paid off on September 13, 2021, she went to the Title Company and signed all her documents.

In November 2022, Tyler Deveraux’s videos started populating in my mom’s YouTube feed due to her past studies on 1031 exchange. Due to her curiosity she started to search more videos on Multifamily Real Estate and Googling MF Capital Partners to understand the business that Tyler Deveraux's and his company is doing. Sooner or later my mom stumbled upon another video from Tyler Deveraux's that is promoting a Saturday event that is taking place at Hyatt Waikiki, she asked me if I wanted to tag along since she didn’t want to go alone and due to my curiosity, I decided to go with her. After that event we signed up for the three-day seminar at Waikiki Marriott and in result, we ended up learning about the business and we signed up for the mentorship and became a part of the network. We have learned a lot from our coach and the people from the network. In the process, the first role that interest me is market researcher since I am always keen on reading and digging up information and my mom started taking the role as acquisitions since her profession for thirty years in accounting and administration for multiple companies. We have always been learning and growing day by the day and we are willing to make new connections and relationships to not just better ourselves but to also provide value in others.

Christopher Viloria

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Email: email@gcv-hawaii.com

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Location: P. O. Box 11785 Honolulu, HI 96828

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©2024 GCV Creative Investments LLC. All Rights Reserved.