Flipping Real Estate ... Without Getting Burned
By Jane Hodges Special to The Seattle Times
Investors fed up with stocks are scooping up property
In December, Paul Galasso quit his Costco management job to join his wife, Evelyn, as a full-time real-estate investor.
The leap from salaried manager at a $48 billion public company to residential real-estate entrepreneur wasn't impulsive, Galasso said. The couple made more than $100,000 from five Eastside deals they completed during 2004.
Galasso, 38, is among the growing ranks of weekend real-estate investors in the area who, encouraged by a housing market that continues to sizzle and buoyed by the success of initial deals, have decided to pursue the practice full time.
Galasso is a member of the Real Estate Association of Puget Sound, or REAPS, a nonprofit real-estate education group that has tripled its membership to 900 since 2003. He and his wife have spent more than $20,000 on investor "boot camps" and seminars to learn how to make deals — and he says every dollar has been worth it.
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