Tom Cruz

Tom Cruz, a real estate entrepreneur. He entered the real estate industry in 2012, specializing in wholesaling properties. Recognizing the need for affordable housing in Wilmington NC, he strategically invested in properties valued at $100,000 or less, facilitating their availability for rent through the Section 8 HUD program. Starting with limited resources, Cruz acquired properties incrementally, employing creative financing methods. Upon accumulating approximately five properties, he sought strategic partnerships, leading to a $250,000 investment and the acquisition of 15 properties. Known for delivering robust returns through the Section 8 guaranteed rental program, Cruz’s success attracted funding, resulting in a rental unit portfolio of over 700 units generating a monthly net income exceeding $650,000. In 2021, Cruz introduced the Section 8 Secrets coaching program, guiding new Section 8 investors by dispelling myths and providing insights on efficiently managing properties. The coaching initiative has empowered over 500 investors, with an impressive 83% securing their first property within 60 days. In response to a 2023 need, Cruz and his team developed Section 8 Pro, an in-house software streamlining property identification based on factors like condition, location, crime rate, and cash flow. This initiative, combined with personalized coaching, consulting, and video tutorials, establishes Cruz as a prominent mentor in the Section 8 real estate space.

What is your typical day, and how do you make it productive?

I start my day at 8:30, by convening with my staff for a meeting on the progress of ongoing section 8 projects. Afterward, I set out to inspect work on existing projects with my business partners to ensure that everything is running smoothly. I have learned that to make my day productive, it’s important to delegate the routine activities to the capable hands of my staff. This frees up time for me to focus on crafting strategies that can drive the business forward. It takes a lot of intentionality and hard work to steer a business in the right direction, and I am proud to do my part to ensure that our company achieves its goals.

How do you bring ideas to life?

Through collaboration. As a leader, I understand the importance of collaboration and have made it a cornerstone of my approach in bringing ideas to life. Working closely with my partners and employees through intensive brainstorming sessions, I am able to bring a diverse set of perspectives to the table, thereby ensuring that every possible angle is explored. By openly sharing ideas and actively listening to feedback, I am able to gain a clear picture of the strengths and potential weaknesses of a given concept. This approach not only leads to more successful outcomes, but also fosters a sense of teamwork and empowerment among my colleagues. Together, we are able to develop ideas that not only meet our clients’ needs, but also push the boundaries of innovation in our industry.

What’s one trend that excites you?

As someone invested in Section 8, one aspect that particularly excites me is how well it keeps up with inflation. In times of economic uncertainty, the stability and reliability of this program cannot be overstated. I’m incredibly heartened by the recent expansion of the program under the Biden administration, which is making affordable housing a reality for more people across the country. With a growing and aging population, the need for safe and affordable housing will only increase in the coming years. I’m proud to be working alongside my team to meet this crucial demand and provide a valuable service to those in need. It’s an exciting time to be part of the Section 8 investment community, and I’m eager to see the positive impact we can make.

What is one habit that helps you be productive?

As an entrepreneur, I have come to realize that my productivity is greatly enhanced when I delegate duties to others. Instead of getting bogged down by everyday paperwork, I focus more on strategic issues that affect the real estate market. This approach has allowed me to catch emerging trends early and stay ahead of the competition. Prioritizing my tasks has helped me channel my energy into areas that are critical to my business’s success. By focusing on the bigger picture, I have been able to make more informed decisions that have propelled my business to greater heights. Delegating duties has freed up my time, enabling me to concentrate on the things that matter the most.

What advice would you give your younger self?

One of the biggest regrets of many people is not taking enough risks when they were younger. Often, the fear of failure holds them back from trying new things or taking bold moves that could lead to success. But if I could advise my younger self, I would encourage them to be bolder and not fear failure. Taking risks is essential to personal and professional growth. With youth comes the luxury of time, which allows us to learn from our mistakes and improve with each subsequent attempt. Embracing bold moves can lead to greater opportunities, higher levels of self-confidence, and a more fulfilling life. So, to all the younger selves out there, don’t be afraid to take that leap of faith.

Tell us something you believe that almost nobody agrees with you on?

That the future of section 8 housing is solid. As a firm believer in the longevity of Section 8 housing, I observe many individuals who remain skeptical of its continued presence. However, despite differing opinions, it cannot be denied that the government has a distinct incentive to ensure its success. After all, what President would want to be responsible for the homelessness of over six million citizens? Additionally, the demand for Section 8 housing is exorbitant – often resulting in a three-year or more waiting list for vouchers in many municipalities. Clearly, the need for such housing is a reality, and one that the government must address in a way that works for all parties involved.

What is the one thing you repeatedly do and recommend everyone else do?

In order to succeed in any industry, it’s important to be proactive and stay on the lookout for new opportunities. After all, the business world is constantly changing and evolving, and those who are willing to adapt are the ones who will ultimately thrive. That’s why I always make it a point to stay up-to-date with the latest trends and advancements in my field. Whether it’s attending industry conferences, networking with colleagues, or keeping an eye out for job postings, I’m always looking for ways to improve my skills and enhance my career. And I have to say, it’s paid off in spades. So if you’re looking to take your own career to the next level, I highly recommend following this approach as well!

When you feel overwhelmed or unfocused, what do you do?

I understand the pressure that comes along with working in a demanding environment. There are times when the workload can get incredibly overwhelming and it can be challenging to stay focused. This is why I have learned to take a step back and allow myself to take a refreshing walk whenever I feel like I am unable to concentrate on the task at hand. It works like a charm each time, giving me the space, I need to clear my mind and re-energize for the rest of the day. I strongly recommend this technique to anyone looking for a way to improve their productivity at work.

What is one strategy that has helped you grow your business or advance in your career?

Developing strategic partnerships has been the key to my success in scaling up my real estate business. It’s no secret that real estate requires significant capital, but by forming partnerships, I’ve been able to access funding, expertise, and resources that would have been otherwise unattainable. Collaborating with like-minded businesses and individuals has allowed me to expand my reach, build my brand, and create long-lasting relationships that are beneficial for all involved.

What is one failure in your career,  how did you overcome it, and what lessons did you take away from it?

I can’t zero in on one because there are many. However, I consistently learn from what went wrong, dust myself up and do it better. This has helped me rise to greater heights over time.

What is one business idea you’re willing to give away to our readers?

None really. Business is all about identifying opportunities in areas you are passionate about. That’s something that no one can share with you, and even if someone were to share an idea with you, they can’t share the vision.

What is one piece of software that helps you be productive? How do you use it?

That would be Section 8 Pro. It’s a software we developed in-house that identifies the best properties by condition, location, crime, and cash flow.

Do you have a favorite book or podcast you’ve gotten a ton of value from and why?

I have received much value from the book, “Getting things done” by David Allen. It is a book that has given much insight on how to move from conceptualizing ideas in the mind to actually implementing them.

What’s a movie or series you recently enjoyed and why?

I am not really that much into movies.