Today we’d like to introduce you to Greg Shannon and Whitney Neal.
Thanks for sharing your story with us Greg and Whitney. So, let’s start at the beginning and we can move on from there.
After graduating college in Georgia, I moved to Texas for work and didn’t know a soul. Whitney was one of the first people I met and ironically, he was the Realtor I chose to help me purchase my first condo in Downtown Fort Worth. While we still laugh about the unimpressive first impression I made, he must have felt sorry for me for being a newcomer to town, because we soon went out to celebrate the purchase of the condo. Since Whitney’s office was on the first floor of my condo building, I would see him nearly everyday and the conversations became more frequent. With similar hobbies and interests, his friends soon became mine and a lasting friendship ensued.
One topic that always seemed to come up when we were together was Real Estate Investing. So, being young and naive, we decided to buy a rental house in Fort Worth and give it a go. Twelve years later, and we are still buying rental houses along with selling, flipping and building Real Estate all over the metroplex.
Great, so let’s dig a little deeper into the story – has it been an easy path overall and if not, what were the challenges you’ve had to overcome?
Business in general has many challenges, especially Real Estate since personalities and people play such and integral part of the industry and the day-to-day transactions. When two friends get into business, it rarely goes well and rarely do they stay best friends like we have. We started this company with a handshake agreement that we either both agree on a project or we don’t do it. While we have had our fair share of disagreements, we have always been able to stick to that very basic principle and I believe that has allowed us to maintain a very prosperous portfolio and friendship. While we’ve always tried to keep our morals and values in check, the most important aspect of our company is our friendship.
Oceanak Development – what should we know? What do you guys do best? What sets you apart from the competition?
Oceanak Development is a boutique Real Estate Investing company based in Fort Worth, TX. Founded in 2007, we focus on buying, flipping and selling homes in various neighborhoods throughout the DFW metroplex. While much of our business over the last 12 years has been residential we recently kicked the new decade off to a great start, embarking on our newest commercial endeavor.
Pronounced “Oceanic” like a cruise ship, the name embodies who we are. It is the last name of my grandfather, whose grit and dedication allowed him to overcome many challenges in life. Representing a generation and time that unfortunately has nearly past, both of our grandparents were the quintessential examples of hard work, perseverance, and determination. With every remodel, build or real estate transaction we strive to maintain these values that keep us grounded and deliver a product we are proud to label with the Oceanak name.
What moment in your career do you look back most fondly on?
One of the things we are very proud of is that we are completely self-funded. From when we started with just one property in 2007, to our current portfolio, we never looked for outside investments and kept it financially stable. There were many Friday nights spent eating pizza and working on our remodels when we could have been hanging with our friends or wives. While these lessons and principles have kept us grounded, they also allow us to be nimble and give us a great perspective and advantage when evaluating projects. There is no substitute for your own money and sweat equity to really make you appreciate a successful project.
Contact Info:
- Website: www.oceanakdev.com
- Phone: 678-978-8244
- Email: greg@oceanakdev.com
- Instagram: https://www.instagram.com/oceanakdev/
- Facebook: https://www.facebook.com/oceanakdev
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