He gave a tough fight and emerged as a winner in the industry, inspiring many other professionals through his journey.
The advent of different business industries and sectors have only gone ahead in proving the fact that emerging technological advances, when combined with the passion of young entrepreneurs, can lead to massive successes. However, since the pandemic, things have become quite tough for many businesses, where some of them even had to shut them and some had to take a long pause before they could plan a new beginning for themselves. Andrew-Paul Salvatore Ragusa is also one business personality who saw it all before he reached the position he enjoys today in the vast and competitive real estate industry of America. He is an influential personality who owns his real estate ventures like A brokerage firm, investment firm and a coaching business as well. This has raised his stocks as a realtor, investor, coach and businessman.
However, no success can ever be achieved without going through certain hurdles on the path. The global health pandemic has affected economies of the world and disrupted sectors, and real estate was amongst them. Andrew confesses that in 2019, he had decided to start flipping houses as he had bought four already all at once to start big. He even got great prices for his properties and also had a project manager, learning many things from him. After he closed his 4th sale in February 2020, lockdowns were announced and this was when his hard times of life began. Andrew says that he struggled to pay for mortgages while the real estate market was completely shut down. This also led to a rise in the cost of construction materials and the budget he had for those properties were based on 2019 material costs. For preventing his investors getting hurt, he put together $50,000 as rapidly as he could (in which five different families had invested) to meet the mortgage payments. Gradually the real estate values on houses saw an uprise and also, the holding time got tripled. He managed to close the deals, making small amounts on the flips.
Andrew made less than $35,000 per house and he used every penny of that to pay the investors back exactly what they were expecting. Though he made no money, the people who invested with him made returns on average of 15-20% on what they invested. This helped him earn a massive reputation, which ultimately took him towards building his wealth management firm, where people give their money, and he uses it as capital on real estate investment projects.
Apart from this, he also coaches people on how to raise money and make investments in real estate. Andrew has earned a reputation of a great realtor and investor who stood strong in front of his adversities and today also plans to run investor training seminars and retreats and do so much more for the industry.
