Real estate has always been a profitable business. Many investors categorize real estate as the safest investment that involves minimal risk. It is no secret that it takes skill and years of experience to understand what kind of property to invest in, buy or even rent. However, with the advancement of technology, all the necessary information regarding real estate is easily found on the internet. From ownership to leasing agreements as well as other data are accessible on various platforms online. One thing is sure that it has given a boost to the real estate business, providing the perfect opportunity for investors around the world to pick and choose the kind of property they want to invest in. As far as real estate is concerned, people usually think it is just limited to housing or shop leases, but that is not the case. Real estate is an important business as this sector encompasses all sorts of property-related activity, including land, enterprises, farm housing, buildings and even government housing schemes.
When it comes to the world of real estate, Tom Cruz (@tcruznc) is undeniably one of the stars of this industry. With his portfolio increasing from 0 to 390 units and generating around 5 Million dollars annually with just eight years of investment, Tom has been doing exceptionally well in the real estate business. Born in Rio De Janeiro, Brazil, Tom Cruz moved to the United States of America to fulfil his American dream. Though he didn’t come from a wealthy family background, his personality and vision were always focused on succeeding in anything he did. Through his hard work and sheer dedication, he has proved that you can fulfil your dreams when you have set your heart and mind to achieving success.
Soon after graduating from Wilmington College in North Carolina, Tom bought a condo for around $120,000. It was his first property and he procured an FHA (Federal Housing Administration) loan. At that point, he was working as a web developer and digital designer. He was financially unstable and needed to pay the house’s mortgage, which was around $600. But Tom hardly made it to the end of the month. However, he didn’t lose hope, and in 2008, he decided to rent out his condo to get some financial help. He put an ad on Craig’s List and was amazed by the public’s response. Even though he was renting out the condo for $1100 per month, the fact that he could easily make $500 every month was quite surprising for him.
What intrigued Tom Cruz was the fact that a struggling web developer who could barely earn $500 on a monthly basis could now make a lot more by renting out a property to tenants. This idea literally changed his life, and from that point onwards, Tom knew that he had to build a career in the real estate world. He started working by wholesaling in order to save capital and invest in real estate. After some time, he bought his second property with the money he had saved. Through constant reinvestment, Tom was able to earn a good income by purchasing six properties and renting them out.
The real estate business was new to Tom Cruz, and although he had bought six different properties, he wanted to progress further, so he learned what cash-out refinance was all about. Once he understood the nitty-gritty involved, he started selling his old properties and buying new ones. This not only turned out to be profitable but also doubled his net worth and made his portfolio strong. Then Tom discovered that Section 8 housing vouchers were administered locally by public housing agencies (PHAs) and received funding from the US Department of Housing and Urban Development (HUD).
With Section 8 vouchers, the US government is responsible for paying 80%-90% of the rent for disabled individuals or families of low-income backgrounds. Even though the government had established this program for Americans, sadly, very few people were aware of this. As for Tom, he accidentally discovered Section 8 at the time of buying a house for $55,000 downtown. The house already had a tenant, and Tom knew it was a great potential property to turnover and make a profit. The day he bought the house, the previous landowner told Tom to register his bank account number for Section 8’s rent. It was the first time he had heard the term ‘Section 8’, and he started asking questions. It surprised him that such a low-value property was rented out for $1,350. This experience enlightened Tom and gave him a fantastic opportunity to become a millionaire.
It wasn’t long before Tom Cruz became a specialist in Section 8 real estate and started purchasing Section 8 properties. He was able to increase his passive income and reinvest in other more profitable real estate. Tom Cruz (@tcruznc on social media platforms) has acquired over 400 rental properties in North Carolina, South Carolina, Tennessee and Ohio. Moreover, he has spent over nine years getting these properties through the Section 8 Program. At just 34, he has secured over $25 million in commercial and creative financing deals and a property management team to scale his portfolio aggressively.
Tom Cruz is a self-made multi-millionaire who never took “No” for an answer. Being a Section 8 pro, this talented man has helped many investors make the right choice. He has always believed in finding the solution, searching for creative ideas and looking out for new opportunities, which is precisely what makes him unique. Tom Cruz is indeed a true inspiration for up-and-coming investors as he has been actively educating his followers about smart investment tricks and real estate business through social media and personal training. If you would like to learn from Tom directly, you can find him on social media at the handle @tcruznc or through his website https://section8formula.com/.