They say that an idea can change a life and this statement absolutely holds true. There is no denying that every successful, wealthy individual started their road to success with a basic idea. However, the key is to execute that idea perfectly in order to thrive and prosper. From Bill Gates to Elon Musk, all these incredible men focused on coming up with new and original ideas to carve a niche and make a name for themselves. Today, they are not only successful but are also millionaires. In fact, Tom Cruz (@tcruznc on social media platforms) is one such individual who followed the footsteps of such exceptional business geniuses with a firm belief in himself and his abilities to transform his life.

Tom was born in Rio de Janeiro, Brazil, came to the United States as a child, and was raised in North Carolina, USA. He was always passionate about real estate and wanted to pursue this as a career. After he graduated from the University of North Carolina at Wilmington, Tom decided to explore his passion and started wholesaling in real estate. Though his initial projects were not as profitable as he anticipated they would be, he didn’t let this stop him.

Tom’s parents were supportive of his desire to own a business instead of working for someone else. So, Tom set off to become an entrepreneur.His persistence and creativity played an exceptional part in achieving his dreams. This enterprising personality knew that he needed to save a good amount of money to invest and start his real estate empire. After generating enough capital, Tom shifted his focus from buying wholesale to buying and selling condos. Initially, he started buying two condos every month and reinvesting profits into his business.

Tom’s progression and success has been acknowledged and praised by his peers. In an earlier interview, Tom Cruz explained that the right kind of mindset must be followed if you want to achieve dreams. “I just never took ‘No’ for an answer, never looked at any problem that couldn’t be overcome, didn’t have enough money, that’s fine,” he shared. “Figure out another way around it. Lenders didn’t want to work with me. No problem. Let’s find another lender. It didn’t appraise tenant issues or property managers’ issues, there are always a million issues that come up when you’re dealing with real estate, and you have to become a problem solver quickly, or you will not last very long in this business,” Tom elaborated.

The pivotal point in Tom’s career was when he bought a low-value house and discovered that it was being rented out for more than its value. It was shocking for him to understand the reason behind it until it was revealed to him, which was the Section 8 housing voucher. To put it simply, Section 8 housing vouchers are administered locally by public housing agencies (PHAs) that receive funding from the U.S. Department of Housing and Urban Development (HUD). The Section 8 vouchers allow low-income families to pay around 10% to 20% of their rent. Wondering what happens to the rest? Well, the remaining amount is paid by the U. S government. This revelation made Tom realize the potential in the house renting business.

According to Tom Cruz, the day after he bought the house for $55,000, he discovered how the previous landlord could get so much rent for such a cheap house. It was because the Federal Government paid 80% to 90% of the rental payments, thanks to the Section 8 program. “From that point forward, I bought dozens of Section 8 rental units by myself. Later eventually, I would partner with other investors and start scaling my property acquisition & management business,” he stressed.

To date, Tom Cruz has acquired over 400 rental properties in North Carolina, South Carolina, Tennessee and Ohio and has obtained these properties through the Section 8 program over the course of nine years. He has secured over $25 million in commercial and creative financing deals along with building an efficient property management team. In fact, Tom is known for his coaching and financial genius approach to investing in Section 8 properties.

For Tom, it’s all about finding the right markets; he really likes Ohio, Indiana, South Carolina, North Carolina and Tennessee. “Throughout the Southeast, there’s a ton of properties that you can buy for $70,000. And really, it’s an arbitrage between the fair market rent, that’s actually able to pay, and then also, the lower mortgage and debt service costs that you’ll have on these assets,” Tom stated. “I mean, I’m buying $60,000 units, putting 20% down financing, $48,000, and having a $300 per month mortgage, and Section 8 paying $1,200 a month all day on that on a three or four bedroom in these areas,” he added.

Tom Cruz has been actively guiding new investors and younger generations about the real estate business in America. He aims to help aspiring investors create a predictable and guaranteed cash flow through Section 8 rental properties. Seeing Tom’s journey to becoming a millionaire is surely an inspiration to many and shows that any milestone can be achieved with hard work, patience and a positive attitude. To learn more about Tom Cruz’s story and formula for success, find him on social media under the handle @tcruznc.