Gregg Fous began his career in the real estate business in 1982 with the acquisition of a bus terminal in Fairfield,
Ohio. He saw an advertisement that was offering the terminal for sale by the bank. He asked for a meeting with the realtor, reviewed the numbers and made an offer pending a satisfactory inspection. The offer: full price, but no payments or interest for three months, the bank to finance 95% of the asking price at market rate for 5 years. Offer accepted. Mr. Fous then re-negotiated the lease with the current tenant (who had given notice to the bank for fear of having to move when the building was sold). Mr. Fous had positive cash flow one month after the initial three months during which he recouped his initial investment. Five years later, Mr. Fous sold the building to the tenant for twice the amount of his original investment.
Now, Fous Owns Market America Realty & Investmens, Inc., with over 60 agents in 7 offices. |