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SPOTLIGHT
Bob Greene
Oprah's fitness guru is fixer-upper of houses, too. Shaping up people and houses are about maximizing potential, he says.
Understanding mortgages

A conversation with ... Bob Greene

Long before Bob Greene became the health and fitness guru to Oprah Winfrey, he was moonlighting at reclamation of a different sort: fixing up houses.

The New Jersey native started young, collecting real estate magazines. In graduate school at the University of Arizona, he caught the fixer bug but lacked the capital to make a go of it. But Miami in the early 1980s was ripe for renovation and Greene jumped in with both feet.

At a glance

Bankrate had a chat with the creator of "The Best Life Diet" about his passion for properties.

We generally picture you shaping up such celebrity clients as Oprah. But shaping up real estate for resale is another one of your passions, right?

It is. When I finished graduate school, I moved to the Miami area and I had a great job at a hospital; I ran a sports medicine institute, physical therapy and weight loss programs. Then I started buying properties in the Coconut Grove area and fixing them up. I'd come home after a full day of work and start fixing up these properties. I started with my own house and then rental property. It became like this second passion and love of mine.

How were you able to afford to become involved in real estate initially?

Right out of graduate school, I wasn't. But a little-known fact, right out of grad school, in the early '80s, I went to Miami and the Latin dollar fell and you could buy things because a lot of things were under foreclosure in Coconut Grove. This was before Coconut Grove got really popular. So I basically sold my car to afford the down payment on my first house; I didn't need it because I worked within biking distance of the hospital. So I went without a car for a little while and was lucky enough to get a loan, and just started buying up a couple of rental properties as I got more equity. Then I started selling a couple of them quickly after, because they fixed up very nicely and the timing was good. To be honest with you, it became a very good living. My passion was health and fitness, but unless you reach a certain level, which I hadn't at the time, I made a much better living in the real estate.

-- Posted: March 19, 2007
 
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