Tim DeCapua is the president of Wealth Building Real Estate, a firm that delivers real estate properties for investment that are completely renovated, income-producing and professionally managed. Wealth Building Real Estate is able to accomplish this through a number of established practices that begin with the purchase of a property that meets a number of strict criteria that the company has identified as vital to investment success. Once a property has been selected, the company then renovates the home, places tenants and provides a professional property manager. The properties are then sold to investors at a wholesale price, which benefits all of the parties involved in every stage of the process.
Tim DeCapua has worked in the real estate industry for many years, and he quickly identified a need for this type of service, as there are always a number of outstanding properties available on the market that are in need some very simple renovations. Buyers have become wary of taking on these renovations on their own, leaving excellent properties on the market at prices that are significantly lower than market value. In renovating these properties, Mr. DeCapua is improving the quality of real estate that is available to renters, creating opportunities for property managers and enabling investors to earn significant profits off of an income-producing home without having to take on the risks inherent in doing so.
Tim DeCapua has always wanted to create a business venture that would be exceptionally profitable while also providing a service that is valuable to a great deal of people. Mr. DeCapua’s company, Wealth Building Real Estate, has allowed him to accomplish this goal. The company has enjoyed immediate success, and that success means that Mr. DeCapua has assisted investors in finding solid investments while also providing renters with access to properties they may have not been able to otherwise afford.
- How did you get started? What sparked this business idea?
I have been involved in the real estate industry for quite some time now, and I saw enough buyers scared off by properties that were in need of simple renovations that it became clear that these properties were being seriously undervalued.
I also knew that investors in real estate want to eliminate the risk of renovating a property on their own or having to devote the time necessary for managing multiple properties. The opportunity to benefit a great deal of people was apparent, and that gave me the idea for Wealth Building Real Estate.
- How do you make money?
There are a lot of ways in which the company generates revenue, but the most obvious is through renovating an undervalued property so that it becomes worthy of investment. We are then able to sell these properties at wholesale prices while still turning a profit.
- How long did it take to get your business into the black?
It did not take very long. We were very fortunate in that we understood the type of properties that are worthy of investment and knew which ones to avoid. We have a thorough checklist that we go through before purchasing a property, and if it is not up to our standards we walk away.
- When you were starting out, was there ever a time you doubted it would work? If so, how did you handle that?
There were never many doubts at first. I have been in real estate long enough to know how the market works and that my company would be filling a significant need within the marketplace.
- How did you get your first customer?
While we use a number of marketing strategies, our first customer was a friend of mine in the real estate industry. I had been talking about what my company would be doing and she had wanted to invest in real estate for some time. She had not yet made an investment because she was afraid to take on a renovation herself and did not feel she had the time to manage a property, but we simplify it so that real estate investing is more accessible.
- How are you marketing your business? What strategy works best?
We have a diversified marketing plan that targets potential investors in a number of geographic areas, but we have also found that by ensuring we pair investors with highly profitable properties that we get a great deal of business from referrals.
- Is there a trend in your industry that particularly excites you right now?
I think that we are creating one with Wealth Building Real Estate. There are a lot of companies that renovate properties and then flip them, and there are a lot of companies that place renters and property managers, but there are not any companies that are covering all of these aspects from beginning to end.
- What is the toughest decision you’ve had to make in the last few months?
Placing the ideal renter is always difficult. There are so many wonderful people who apply to rent our properties, and, unfortunately, there are many deserving people that we have to turn away.
- What do you think it is that makes you successful?
I have always been attentive to the needs of consumers that are not being met. In starting this company, I saw that access to real estate investing was not as simple as it could be. Identifying this need in the marketplace has allowed me to create a very successful business.
- What has been your most satisfying moment in business?
The first time we took a property from its initial renovations all the way to the sale to the investor. That whole process was so gratifying, as the renter, property manager and investor were all so thankful for our services.
- Tell us about one of your hobbies when you’re not working.
There is nothing I enjoy more than a spending time with family. I’ve found that at the end of the day, there is nothing better than being with people you love, and who love you.
- How do you ensure that your properties remain valuable after they are sold?
We have a policy in which we continue to work with investors even after the sale has been completed. Customer service is very important to us, so we make every effort to help our clients even after we have sold a property.