Real Estate Success: Michael LaMonica Delivering The Goods

Back in August of 1993, Michael LaMonica had no idea that he would develop into the successful real estate investor that he is today. That was the year he took his job as a service provider for one of the largest trucking companies in the world. The hard work was alright with him, and he needed a secure income. But as he navigated his truck through what he calls the “rat race” streets around New Jersey making his deliveries, Michael started to dream about something much bigger - real success, control over his own life, a business of his own and most of all, financial freedom.

In those days, Michael was actually not thinking about real estate investing. But then he discovered all the great books by Donald J. Trump and they got Michael thinking about real estate as a path to success. Then in 2007, he called his friends Bart Vallaro and Chuck Kohout, who were already investing in real estate. They gave him a pep talk about all the money that could be made in foreclosures and short sales. 

The inspiration from Mr. Trump, Bart and Chuck gelled for Michael, and he began to see a plan developing. He saw that real estate investing could become his personal path to success. So he contacted Trump University and got involved in our real estate program.

What role did Trump University play in Michael’s success? When Michael talks about that, he points to the knowledge he gained about identifying good investment properties and putting deals together to acquire them. But he says that his real breakthroughs came from his Trump University success coach, Steve Gilpin, who got him out into the real world. Before he thought he was ready, Michael was looking at houses, putting deals together and buying properties.

What deals has Michael put together in the last 11 months? Get ready, because his track record is pretty amazing.

To date, Michael has locked up and resold three homes in short-sell deals. He took some of the profits from those sales and acquired a number of multi-family rental properties with a total of 13 fully-rented units. Those are yielding positive cash flow that will allow him to replay all his start-up expenses in the next 12 months and be debt-free.

“I ran up some credit cards to get the capital I needed to buy my first properties,” Michael explains. “But I also learned the value of using other people’s money - 'OPM’ - while taking massive and immediate action. That is how I got my start.”

Better yet, Michael and Steve have developed big plans for diversifying and expanding Michael’s property portfolio. He is considering the purchase of vacant land in New Jersey, where he might build some new homes for more positive cash flow. Michael plans to purchase at least five more properties over the next six months. He is also looking at multifamily buildings of 5-8 units in other states. “The goal is to own more than 30 units by the end of 2009,” Michael explains.

And Michael’s plans don’t stop there. He has created two companies, including LaMonica Property Management Group, LLC (visit his new Website - www.lpmg-llc.com to learn more). He is currently partnering with a power team that he built of nearly 50 investors, real estate agents, commercial developers and other business partners to identify and develop new investments.

“I promised myself I'd be free by 35 yrs old and with the help of Steve Gilpin at Trump University, I now know it’s a done deal sometime in 2009,” Michael tells us. And now he is making good on that pledge to himself.

When it comes to making dreams come true, Michael LaMonica is a young man who really steps forth and delivers. Here at Trump University, we are proud to have helped him build his success.

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