If you’ve ever wondered if it’s possible to make serious money in real estate without having any background or education in it, meet Donovan Ruffin. He grew up in Ohio and moved to Texas seven years ago. In this piece, Donovan candidly shares his inspiring journey and some golden advice for anyone looking to venture into real estate investment.
The Start of a Real Estate Career
Donovan’s story begins quite humbly. After a couple of years in a sales job, Donovan’s friend, who was a real estate wholesaler, sent him a photo of an $18,000 check. Donovan was hooked. He knew immediately that he wanted in, no matter the effort required. He dove into the business headfirst, partnering with his friend, and they started learning and growing together.
The First Deal
Donovan’s first deal was in Garland, Texas. Armed with bandit signs that he scribbled on with a marker, he got his first call from a desperate seller. Without any fancy contracts or formal knowledge, he drafted his own contract in Microsoft Word. That deal netted him around $4,000. The key takeaway? He learned by doing, not by overthinking or overplanning.
Taking Action Over Theories
Unlike many new investors who spend endless amounts of time on education and formalities, Donovan went straight to action. He adopted a hands-on approach—typing contracts, asking questions, and learning on the go. He firmly believes that real, valuable learning happens on the field, not in the classroom.
Age is Just a Number
Donovan nailed his first deal at the age of 20, an age at which most people are far from considering real estate investment. What he realized early on was that work ethic and action are the true catalysts for success. He didn’t have money, credit, or experience—only a willingness to hustle.
The Shift to Fixed and Flip
Today, Donovan primarily focuses on fix and flip projects. The current market makes it advantageous to do so. He looks for properties that can give him a good return by investing his time and effort. Typically, he sticks to the formula of buying properties at 75% of their market value minus repairs.
Managing Finances and Projects
Initially, Donovan used his own money for investments. However, he soon realized that expanding required more capital. Enter private investors. They provide the financial backing, secured by the real estate itself—a win-win situation for both parties.
The Importance of Knowing Your Numbers
Donovan cannot stress enough the importance of knowing your numbers. Miscalculations can spell disaster in real estate. Being young and somewhat inexperienced, he learned this lesson the hard way but has been meticulous ever since.
Overcoming Analysis Paralysis
Having a tool like Propelio has been a game-changer for Donovan. It allows him quick and accurate evaluations of potential deals, enabling him to make decisions fast and minimizing the phenomena of analysis paralysis.
Learning from Mistakes
Not every deal was a home run. Donovan recalls a particular rehab deal where he relied too much on others for the numbers, resulting in extensive stress and time investment, only to net a small $5,000 profit. It taught him the value of personal research and due diligence.
Daily Must-Dos for Real Estate Investors
Donovan’s daily routine includes activities that will bring in future leads and profits. Networking is crucial in his life—he makes sure every person he meets knows he buys houses. Self-branding also plays a big role; he works to ensure he’s the go-to person for real estate in his network.
Sacrifices on the Path to Success
Donovan made personal sacrifices, like cutting off negative influences and focusing on surrounding himself with like-minded, successful individuals. This change in social circle was essential for his mental and entrepreneurial growth.
Goals and Vision
Donovan credits much of his success to setting clear, visible goals. His goals are written on his bathroom wall, ensuring he sees them every day. These goals keep him focused and accountable.
The Bigger Picture
Beyond the monetary rewards, real estate has given Donovan time freedom and the ability to support others. Whether providing job opportunities to his team or allowing a friend to fund a passion like music, the benefits extend far beyond just dollars.
Getting In Touch
For those interested in partnering or learning more from Donovan, the best way to reach him is through social media. Find him on Facebook as Donovan Ruffin, on Snapchat as Donnie Ruffin, and on Instagram as TheDonovanRuffin.
Closing Remarks
Donovan Ruffin’s journey from a sales job to a successful real estate investor is a testament to the power of determination, action, and learning by doing. His story demonstrates that with a strong work ethic, a willingness to hustle, and the ability to learn from mistakes, anyone can break into the real estate market and achieve significant success. Donovan’s experiences underscore the importance of taking action, knowing your numbers, and setting clear goals.
By leveraging personal sacrifices and surrounding himself with positive influences, he has not only achieved financial success but also gained the freedom to support others and pursue his passions. For those inspired by his story, Donovan remains accessible through social media, ready to share his insights and continue his journey of growth and success in real estate.
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