by Dell Claiborne
Recently, buy I had the pleasure of interviewing noted African-American real estate investor N. Xavier Arnold. Xavier has experience in practically every aspect of Real Estate and is a successful entrepreneur and business person. He has been a licensed real estate broker and appraiser for more than 20 years. He’s the author of The Best Real Estate Investing Method…EVER! How to Grow Real Wealth by Using the Real Smart Investor Method.
DC: What do you feel is the biggest mistake that minorities make in terms of real estate investing?
XA: The number one biggest mistake that minorities make is in not understanding that every real estate purchase is an investment. Ninety percent of wealth is held in the home. It’s the single largest purchase that most people ever make. Many minorities take a passive approach to investing. A mistake that African-Americans also make is by not recognizing resources in our own communities. We have tools and professionals in our own communities. Investors should seek out competent professionals.
DC: That’s a great point you make about finding competent professionals. Do you have any advice for people as to how to find such professionals?
XA: Experience and education are the two biggest factors. Seek out experienced
professionals who have invested time and energy into their professions. There are a number of designations and endorsements that real estate professionals can acquire. CCIM, for sale which means Certified Commercial Investment Member, is one that I believe separates those professionals that specialize in investing.
DC: Your book details your method, called the “Real Smart Investing Method.” What do you feel separates your program from all the others, and why do you think those other methods and programs fail?
XA: The majority of real estate investing seminars fail because the plan is passive. It is impossible to learn without doing. You didn’t learn to ride a bike by watching a DVD. Active always beats passive. In our method, through our website and training you are engaged in the process of an actual investment in real time. That participation-training is what makes it different. Doing leads to a 90 percent retention rate as opposed to the maybe 10 percent that is retained from just watching. You have to engage your body and mind.
DC: Your book details what you call “the 10 Commandments of Real Estate Investing.” How did you narrow what must have been a large list of “commandments” down to the ten most important?
XA: You’re right. Over the years of being in the business, I learned a lot of “commandments.” Narrowing it to the ten was the work of my entire team and I asked friends and colleagues around the industry for help. Using our personal, professional experiences and by surveying our clients, we came up with the ten that were most effective.
DC: Mr. Arnold, I discovered that before this book, you wrote two successful novels. After having success as a fiction writer, what prompted you to write this book?
XA: Writing actually marries my two loves, my avocation and my vocation. I’ve always been interested in teaching people how to invest effectively. This book gave me an opportunity to create a simple method that was also practical.
DC: Well, Mr. Arnold it really has been a pleasure for me as a real estate professional to have the opportunity pick your brain a little about your experiences and expertise. Thanks for taking the time to talk with me and good luck with this latest project.