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REAL ESTATE DISRUPTORS: Ron Lennox

Stories of disruptive real estate investors, as told by the disruptors themselves

· Real Estate,Investing,Entrepreneur

Ron Lennox is a Real Estate Disruptors, this is his story

In this week's, STORIES blog, we interviewed Ron Lennox. please join us in welcoming Ron Lennox to the Startup Property blog!

We're looking forward to hearing more about his journey into the world of Real Estate and to hear any advice he may have to offer.

Read on, to learn more about Ron!

First and Foremost, please introduce yourself:

Hi, I'm Ron at Lennox Investments LLC

When did you start investing in real estate?

December 2016

How big is your team? Or are you a one-man band?

My partner, Chris Senegal and I run the entire show.

What part of town do you invest in? 🌎

Houston and its surrounding areas

Let's get to know more about your real estate story...

What is your background? How did you get into real estate investing and why?

My name is Ron Lennox, I was born in Louisiana but raised in Houston TX.

My sister and I didn’t have an easy childhood due to the passing of my father at a young age from alcohol addiction. At the age of six we moved to Houston to live with family to keep a roof over our head, and later moved out after my mom got a job as a cafeteria lady at the middle school I attended.

That experience really helped shape the habits and mindset I have today, by instilling in me hard work, optimism and the ability to overcome obstacles that I face.

I graduated from University of Houston in 2007 with a major in Business Management and quickly learned that corporate America was not for me. I worked as an analyst at a corporation for seven years and though I was very thankful for the position, I knew that I wanted to build a legacy for my family and have my money work for me.

I couldn’t wait to leave my 9-5 so I could work on my 5-9!

I’ve always had a fascination with real estate; however, my journey started towards wealth building shortly after my mom and I experienced a foreclosure on my childhood home 🙁.

I started researching if we could have remedied the situation or even have prevented the bank from taking the house. If I knew back then what I know now, I could have prevented the foreclosure completely.

Moving forward, about a year ago I reached out to Chris Senegal via Instagram in hopes that we could meet at a local Starbucks.

The power of social media is not to be underestimated.​

Today we have built a few companies together and have many deals in the pipeline. I am very thankful to call Chris, my business partner and friend.

I remember this one deal not too long ago where the homeowner stopped responding to us, we really wanted to put this property under contract, so I drove to his house and texted him:

Chip, I’m outside and I know your time is money, so I’ll give you $40 for 2 minutes of your time!​

That got his attention and we were able to move forward!

What is your current investment strategy/niche and what are you currently working on?

 

Currently, we are focused on acquiring the property at a deep discount and then figuring out a few exit strategies. On properties we don’t want to invest a lot of time in we will wholesale and some we decide to rehab and list on MLS.

If you are new to the real estate business, wholesaling can be lucrative with a hard work ethic and buyers lined up. After you increase your cash reserve you can start investing in a fix & flip property. Hard and private money can also be great as long as you are sure the numbers make sense. Proceed with caution!

What were the biggest challenges you've overcome?

Oh wow, where to start!

My biggest challenge was learning to deal with the word “NO” and in this business what can go wrong will go wrong.

When I first started I went door to door and would ask homeowners if they wanted to sell their house, the number of rejections was overwhelming and it started to drain my confidence in wanting to pursue real estate. I had to learn to fight through it, no matter what went wrong, never to loose site of the prize.

Goals & Advice

What are your goals for the future?

 

Currently my goals are to build systems to help automate some of the tedious processes we have and later would like to own a few apartment complexes and transition into developing real estate.

Has anything been particularly helpful or advantageous in your investing experience?

Finding mentors in the real estate community has definitely been most advantageous in my real estate journey. Platforms like Startup Property can help you connect with some experienced investors in your local area. 🙌🏻

What is your number ☝🏼 piece of advice you would give to a first-time real estate investor?

Remember that ideas don’t come out fully formed, the important thing is just to get started. ​

Sometimes when starting a business you get trapped in the learning phase, which can actually be more harmful than helpful.

Experience is the best teacher, go out there and fall flat on your face, learn from your mistakes then get back up and try, try, try!

Where Can We Find You?

I’m open to talking to anyone, no matter where you are in your journey! You can visit my website, www.lennoxhomebuyers.com, follow me on IG @RonLennox, on Facebook www.facebook.com/theronlennox or reach out to me via email, theronlennox@gmail.com.

Thanks so much for your time this week, Ron. We enjoyed learning more about you real estate journey!

That’s all for this week! Did you find this blog interesting or informative?

Please, let us know by ‘liking’ and sharing this post! Interested in being featured? Send us an email at hello@startupproperty.co. Don’t forget to like and follow us, at StartupProperty on all of your favorite social media platforms!

Until next time, stay disruptive!

-Startup Property

DISCLOSURE:

This blog post is strictly an interview with Ron Lennox, and we have no professional affiliate with them. While we encourage our readers to learn from fellow members in our community, please know that Startup Property is not responsible for any personal or professional purchases or business transactions that happen between yourself and the interviewee of this blog post.

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