Waiting for a career in real estate was worth it for this persistent investor.
Not many young high schoolers know what they want to do with their life after graduation. But Think Realty Presidents’ Circle member Greg Slaughter did. He knew he would have a career in real estate. What he didn’t know is how long he’d have to wait to make it happen.
“My junior high school debate team got second in State, and I made it a personal goal to win senior year. I asked my parents to send me to a debate workshop to get a head start on next year’s topic, but they said ‘no’ due to affordability. We were not poor, but they wouldn’t pay for it. I remember it like it was yesterday, when they told me I couldn’t go, I got so upset and frustrated. I made the decision right then that I’d never have to worry about money again.”
That was 1983. Slaughter learned that 92 percent of all millionaires earned their wealth through real estate. “I just knew it was for me,” he said.
He immediately got to work. But not in real estate. Not yet.
“I put in my one and only application I’ve ever completed in my life. It was for McDonald’s. I got hired and started saving money.”
The first thing he ever bought was not a property, but a car stereo. “I was a teenager after all!” he said.
The second thing he ever bought was a real estate seminar — the Robert Allen Nothing Down Conference.
“I was about 19. It was a lot of money for me then. Nothing down was new back then. I left thinking I would purchase a house with nothing down. But during my first attempt to do so, I was laughed out of the bank!”
Slaughter searched FSBO’s and called on duplexes.
“I negotiated a deal over the phone, but it wasn’t a zero-down deal. I needed a small down payment but had spent all I had at the conference. My friends were broke. My parents wouldn’t lend me money. It was a fantastic deal, but I couldn’t get money. So, I dedicated everything to McDonald’s and eventually ran my own restaurant.”
It was 1986. He lived in Tucson and relocated to Las Vegas.
It was 1999. Slaughter still hadn’t bought a real estate investment property, but he did get his first rental. He converted his Las Vegas home into a rental when he moved to Phoenix and was finally in the real estate business. Three years later, Slaughter retired from McDonald’s as a training consultant and began doing real estate full time.
Slaughter put off his dream for more than a decade, but he finally got started. Patience and perseverance paid off, and now Slaughter enjoys helping others who are finding their way in real estate.
“There’s nothing greater than creating moments and helping others find financial freedom,” he said.