Don't forget to subscribe, leave a rating and review!This episode with Jhanel Wilson was powerful! Jhanel's investing career started at 22 when she purchased her father's home to save it. Although she was new to investing, she creatively financed this first deal. She used her student loan to pay the back taxes and credit cards to pay for the violations.  After this first investment, she continued to grow her portfolio and gain experience with various financing strategies and larger scale rehab projects. Jhanel worked as an Engineer and reached a point where she realized that staying at her job was preventing her from growing her portfolio. During the pandemic, she purchased $3 million worth of real estate and currently has over 100 units. In this episode we discuss using credit cards and life insurance to invest, overcoming challenges as an investor, future plans and more. How to find herIG- @jhanelwilsonHighlights1) Section 8 is an excellent program to consider as an investor. The government payments are guaranteed. Make sure you have a thorough tenant screening process. 2) Credit cards can help you finance real estate deals. You just need to be strategic with how you use them. Always be aware of the terms and fees, have a specific plan to pay it off. 3) Don't rush to become a passive investor. Consider being hands on for a while so that you know how things are done and can spot when things are not being done correctly. Access all of our resources on our website- https://www.blackrealestatedialogue.com/linksJoin the B.R.E.D. Real Estate Investing Community for $1- https://www.outofstatemoney.com/community-sales-page-1Learn how to invest out of state- https://www.outofstatemoney.com/

Black Real Estate Dialogue

Episode 91: Ep 91- From Engineer to Full-Time Investor

On this week's episode, we interview episode 24 guest, Marion Lee for an update episode. Marion Lee decided to invest out of state from California because the cost was so much lower. Since this last episode he has increased his portfolio to 20 doors.Marion has helped me tremendously in my own personal investing and he helped me save thousands of dollars on rehab costs this past summer. During this episode, we discuss working with tenants during the pandemic, growing his portfolio, plans to leave his 9-5 and more. How to find himIG- @legacyhomesolutionsWebsite- https://www.realestateapparel.co/Highlights1) It's important to be understanding of tenants if they are going through things like job loss. However there is a balance, don't allow yourself to be taken advantage of. 2) When dealing with wholesalers, make sure you know your criteria and clearly communicate. Don't waste their time, make sure you're a serious buyer. 3) If you invest out of state, boots on the ground are very important. Even if you have a property manager, it's important to have a second set of eyes.Access all of our resources on our website- https://www.blackrealestatedialogue.com/linksJoin the B.R.E.D. Real Estate Investing Community for $1- https://www.outofstatemoney.com/community-sales-page-1Learn how to invest out of state- https://www.outofstatemoney.com/

Episode 90: How to Turn Your 9-5 Skills into Real Estate Success Part 2

On this week's episode, we had our episode 14 guest Deandra McDonald back for an update interview. Last time we interviewed her, she had 16 doors and has almost doubled her portfolio to 30 doors since then. She started investing by house hacking and eventually started to invest in larger apartment complexes. Deandra was able to retire from her job as a Science Teacher to invest full time and to grow her real estate coaching and membership group. She currently self manages all of her units and her Instagram/Tik Tok content document her day to day experiences as a DIY landlord in a comedic fashion that anyone can relate to. In this episode we discuss raising money for her first flip, buying apartment complexes, future plans and more. How to find herIG- @deandramcdonaldWebsite- https://linktr.ee/deandramcdonaldHighlights1) House hacking doesn't have to be permanent. You can do it for a period of time to help with your mortgage or generate some cash flow. 2) Be clear when setting boundaries with tenants so that you are not overwhelmed with requests. Teach them how to do things on their own to save you time. Using the breaker, shutting off the water etc. 3) If there are issues with anyone on your team (contractors, real estate agent etc.) address them immediately to fix the problem. Access all of our resources on our website- https://www.blackrealestatedialogue.com/linksJoin the B.R.E.D. Real Estate Investing Community for $1- https://www.outofstatemoney.com/community-sales-page-1Learn how to invest out of state- https://www.outofstatemoney.com/

Episode 89: From Science Teacher to Full Time Investor Part 2

This episode with Welby Accely was an inspiration! Welby purchased a 4-unit property in Georgia in 2004 while living in New York. He purchased this property with 106% financing because this was when there were fewer regulations on mortgages. The challenge Welbly ran into is that he didn't understand how to properly buy properties. He eventually lost the house to foreclosure.From that time forward, Welby got into various business ventures that didn't work out and made his way back to real estate. This time he had a different approach. He meticulously studied the Connecticut market that he was interested in and built his team intentionally. He successfully completed his first flip and now his company is on pace to flip well over 40 properties this year. In addition to flipping, Welby has an extensive rental portfolio.This interview is packed with transparency and lessons that any investor can learn from. In this interview we discuss perseverance, how to properly buy properties, being a good landlord and more. How to find himIG- @atmybest197Highlights1) Spend time in the markets you are interested in. You need to know as much as possible about the local landscape before investing.2) The performance of your properties is more important than the number of properties you have. 3) Make sure you're buying properties correctly. Whatever your goals are with the property, make sure the price is in line with that. 

Episode 88: How to Build a Flipping and Investing Empire

This episode with Jessica Myers was powerful! The turning point for Jessica was when she got her 5-year plaque to recognize her years of service at her job. She also noticed someone receiving a 20 year plaque at the same job. At that moment, she decided that chasing a 20-year plaque was not the path she wanted to pursue. It was perfect timing because she attended a real estate conference shortly after where she learned about wholesaling.  Starting out as a wholesaler allowed her to develop her ability to find and analyze deals. With the help of a mentor, she was able to close her first four deals. Starting off with wholesaling allowed her to build up the next egg that helped her to leave her job. From there she got into AirBnb rentals, revitalizing communities in Brunswick, Georgia, additional real estate investments and more. Next on Jessica's goal list was hotel ownership. She reconnected with her friend, Davonne Reaves and decided to pursue their goal of hotel ownership. Their firm closed on a $8.3 million dollar hotel in El Reno, Oklahoma which is two hours away from Tulsa, Oklahoma. In this episode, we discuss hotel ownership, getting started in real estate, future plans and more.How to find herIG- @itsjessicamyersHighlights1) Never give a contractor all of the money for a job upfront. Make sure you have a good contract in place. 2) When looking for real estate opportunities, follow where the jobs are. If there are consistent jobs in the area, that is one indicator that it can make a good investment.3) If you're interested in hotel ownership or real estate, make sure to network as much as possible. Find people who are doing what you want to do. Access all of our resources on our website- https://www.blackrealestatedialogue.com/linksJoin the B.R.E.D. Real Estate Investing Community for $1- https://www.outofstatemoney.com/community-sales-page-1Learn how to invest out of state- https://www.outofstatemoney.com/

Episode 87: How to Become a Hotel Owner

This episode with Mark Higgins was inspiring! The turning point for Mark came in 2020 when he realized that day trading so much was taking time away from his family. He wanted to find an investment that would take less of his time. After doing some research, he decided he wanted to invest out of state. He found roofstock.com and discovered that they would provide an all inclusive service to help him as a new investor. He purchased 4 properties in St. Louis on Roofstock within 6 months. After buying his first few properties, Mark decided to use a Home Equity Line of Credit (HELOC) to buy more properties. He started taking on more risk by using the BRRR strategy. He was able to find a good team of contractors to help him get his projects done and to find great deals. His plans for the future include buying large apartment complexes. Currently he has 8 doors with more on the way.In this episode we talk about the BRRR strategy, using Roofstock, the St. Louis market and more. How to find himIG- @markbosonHighlights1) Get started with the information you have. Your strategy may not always remain the same, but getting started will expose you to more possibilities.2) BRRR is a great strategy but you must know what you're doing. You need a great team of contractors, wholesalers, realtors, banks etc. 3) Don't waste your contractor's time. Make sure you know your criteria so you're not having them give you estimates for properties you don't want to buy. Don't nickel and dime good contractors. Access all of our resources on our website- https://www.blackrealestatedialogue.com/linksJoin the B.R.E.D. Real Estate Investing Community for $1- https://www.outofstatemoney.com/community-opt-inLearn how to invest out of state- https://www.outofstatemoney.com/opt-in

Episode 86: How to Invest Out of State

This episode with Alex Kamunyo was powerful! The turning point for Alex came during his first job after college. He observed older co-workers working late everyday and he was determined to reach financial freedom at a young age to avoid that same destiny.His first investment was a single family home with a garage apartment. He decided to rent out the larger space, renovate the garage and live there. From that point he decided to flip houses in order to build up capital to go towards his larger goal of apartment buildings. In 2020, Alex realized that he had to get into other business ventures to speed up his path to financial freedom. He tried various businesses such as trucking, stock options, vending machines and more. Once he learned how to start a cleaning business, the rest was history. His cleaning business generated $200,000 in sales in just one year. His goal is to use his business income to buy more real estate. In this episode we talk about house hacking, a flip that didn't go well, leaving his job, future plans and more. How to find himIG- @ikamunyo, @moneymonopolizersListen to his podcast here Get his course: The Monopoly Manual: How to Acquire Your First Flip or Rental Property hereHighlights1) Don't rush to fill your vacancies. Take your time and make sure it's the right person. It's better to have an empty property than to have a headache tenant.2) If you want good deals, connect with wholesalers and consistently make offers on properties that fit your criteria. 3) If you can start a business and grow it to be successful, you can put that money into real estate to grow your long term wealth.Access all of our resources on our website- https://www.blackrealestatedialogue.com/linksJoin the B.R.E.D. Real Estate Investing Community for $1- https://www.outofstatemoney.com/community-opt-inLearn how to invest out of state- https://www.outofstatemoney.com/opt-in

Episode 85: How to Achieve Financial Freedom at 25

This episode with Andre Harris was inspiring! His story is a great example of how you can bounce back in real estate even when things don't go as planned. When Andre started to invest, he didn't have much capital to get started. A friend of his told him about the Shelby County Land Bank, where he could get properties for a low price. He found out a family member's home was going to be sold due to delinquent property taxes. He negotiated with the family member to pay the taxes in exchange for signing the home over to him. The family member eventually became his first tenant.After doing a cash out refinance on the first property, Andre purchased 2 more landbank properties and a 4th property with a partner within 18 months. Land Bank deals started drying up due to long distance investors and Andre became discouraged. He took several years off from investing until 2020. He learned about several creative financing strategies that helped him bounce back and purchase 7 doors last year. In this episode we discuss creative financing, land bank properties, networking and more. How to find himFacebookAndre Harris (personal)Mane + Side Huscle Podcast (podcast)Instagram@and1_hb03 (personal)@manesidehuscle (podcast)Podcast Websitehttps://manesidehuscle.com/Highlights1) Educate yourself as much as possible. This will help you to be more sure of your decisions. 2) Don't give up if your first investment strategy doesn't work. There are many ways to invest in real estate and it's important to adjust and keep trying.3) Network as much as possible, tell people you're an investor, build relationships with banks and title companies. This can help you find more deals and funding. Access all of our resources on our website- https://www.blackrealestatedialogue.com/linksJoin the B.R.E.D. Real Estate Investing Community for $1- https://www.outofstatemoney.com/community-opt-inLearn how to invest out of state- https://www.outofstatemoney.com/opt-in

Episode 84: How to Bounce Back in Real Estate

Rashidah Green-Sherman is our latest B.R.E.D Resident. In this special segment of the show, we will spend several episodes with a new investor to document their journey. Check out her past episodes to get caught up!In this episode we discuss meeting her neighbors, updates on various parts of her rehab and more.We will release an episode with Rashidah at the beginning of each month documenting various parts of her journey including the complete rehab of the home. Stay tuned for more! ⁣How to find herIG- @rashidahgAccess all of our resources on our website- https://www.blackrealestatedialogue.com/linksJoin the B.R.E.D. Real Estate Investing Community for $1- https://www.outofstatemoney.com/community-opt-in

Episode 83: How to Rehab Your First Property Part 2

This episode with Eugene Marshall was powerful! When Eugen was in college, he was inspired by his peers and books he read to invest in real estate. When he purchased his first property, he used the FHA 203K loan. Everything that could go wrong went wrong. He ended up losing over 50,000 on this deal, but he didn't quit!During this first investment, he learned about the construction side of real estate. After completing the rehab on his first deal, he began coaching people on credit and real estate. The students he became credit coaches for became his partners and helped him to grow rapidly. Eugene has grown his portfolio to over 30 doors and he has been able to scale quickly because of partnership. In this episode we discuss, not giving up, partnerships, tips for investors, the Chicago real estate scene and more.  How to find himIG- @__mrmarshallBuy his Renovation Game course here- https://therenovationgame.thinkific.com/courses/your-first-course?ref=7f87f6Highlights1) Even if you are a new investor, don't ignore red flags with contractors. It's okay to move on to another contractor.2) Consider partnerships to grow your portfolio faster. Make sure you have the right partners and make sure you are protected in your contracts. 3) Consider becoming a general contractor or at least that you're educated about the rehab side. This knowledge is crucial to being successful in real estate. Access all of our resources on our website- https://www.blackrealestatedialogue.com/Join the B.R.E.D. Real Estate Investing Community for $1- https://www.outofstatemoney.com/community-opt-in

Episode 82: How to Build to Build a Real Estate Empire Through Partnership

This episode with Henry Washington was legendary! Henry was an early guest on the show (Episode 8). At the time, he had 40 or so doors and since then he's been making major moves. He started his investing career without a lot of capital. He took a loan out against his wife's 401k to fund his first investment and the rest was history. Henry currently has 65 doors and counting!Henry recently left his 9-5 to pursue real estate, ecommerce and coaching full-time. His wife also recently left her job to join him in the business. Henry did this strategically and took as long as he could to leave. This is one of the biggest gems of this episode.  In this episode, we discuss using your 9-5 to invest, how his real estate business has evolved, when you should sell properties and more. How to find himIG- @thehenrywashingtonHighlights1) Work towards leaving your 9-5 strategically and don't rush. Do it when it makes sense for you and your business. Don't get caught up in the hype. 2) There will always be people who need to sell their homes at a discount because of life situations. If you're consistent with marketing and follow up, you can still get deals in a competitive market. 3) If you want to be an investor, you need to immerse yourself in it. Go to locals investors meetups and get to know other people. You can get deals, find people for your real estate team and more. Access all of our resources on our website- https://www.blackrealestatedialogue.com/Join the B.R.E.D. Real Estate Investing Community for $1- https://www.outofstatemoney.com/community-opt-in

Episode 81: How to Use Real Estate to Retire From Your Job

This episode with Gabby Williams was epic! Last year, Gabby was our first B.R.E.D Resident and we spent several episodes documenting her journey as a new investor. Since that time, her business has blown up. She started a full service company, Real Estate Bae and hasn't looked back.Real Estate Bae helps investors from all over the country invest in St. Louis through flipping, long term rentals and more. The company manages the process from beginning to end and provides excellent value to each client. In this episode, we discuss how she grew Real Estate Bae, tips for new investors, future plans and more. How to find herIG- @realestate_gabzWebsite- https://www.therealestatebae.com/Highlights1) As a new investor, consume as much content as you can. Make sure you're learning everyday. 2) As a new business owner, make sure you work with clients who trust that you can get the job done. Don't just take clients for the sake of having a client.3) You can't do everything alone, make sure you get a team around you to help you with your investing goals.Access all of our resources on our website- https://www.blackrealestatedialogue.com/Join the B.R.E.D. Real Estate Investing Community for $1- https://www.outofstatemoney.com/community-opt-in

Episode 80: How to Start a 500k Real Estate Business

Rashidah Green-Sherman is our latest B.R.E.D Resident. In this special segment of the show, we will spend several episodes with a new investor to document their journey. Check out her previous interviews if you haven't already (Episode 72 and 75). In this episode we discuss how her rehab is going, investing in a historic district, challenges she's faced so far and more.  We will release an episode with Rashidah at the beginning of each month documenting various parts of her journey including the complete rehab of the home. Stay tuned for more! ⁣⠀⠀How to find herIG- @rashidahgsAccess all of our resources on our website- https://www.blackrealestatedialogue.com/Join the B.R.E.D. Real Estate Investing Community for $1- https://www.outofstatemoney.com/community-opt-in

Episode 79: How to Rehab Your First Property

This episode with Olamide (De) Ewetusa was inspiring! She is a CPA and a graduate of Howard University and Wake Forest University. After realizing how much she was paying in rent, she calculated what her mortgage could be. She knew that she could rent rooms out to cover her mortgage expense. De's first purchase was a single family home in Southeast Washington D.C. The seller paid the closing costs and she also took advantage of a $5,000 first time home buyer grant. She ran into some challenges renovating the basement and eventually got the project done. She rented out one of the rooms and the basement which allowed her to save enough money for additional renovations.She found out about a $17,500 grant from Bank of America from her agent that did not require her to be a first-time homebuyer. This helped her to buy her next purchase which was a duplex in the same area. Her properties have appreciated rapidly and are collectively worth over $1 million. De will be a guest speaker in July for the B.R.E.D Real Estate Investing Community. She will teach us how to choose the right location to invest in. Click the link in the show notes to join for $1! In this episode we discuss house hacking, the importance of choosing the right location, creative financing and more. How to find herIG- @pachirafinancialsWebsite- https://www.pachirafinancials.com/Highlights Your first step before investing should be talking to a lender to see what you can qualify for. Consider speaking to several lenders. Talk to your agent and lender about grants. There is money out there if you meet certain requirements. This can help with downpayment and closing costs.  Always be willing to walk away from a deal. It can help with negotiation or prevent you from getting a bad deal.  Access all of our resources on our website- https://www.blackrealestatedialogue.com/Join the B.R.E.D. Real Estate Investing Community for $1- https://www.outofstatemoney.com/community-opt-in

Episode 78: How to Buy $1 Million of Real Estate in 2 Years

The purpose of the Black Real Estate Dialogue is to document the journey of an up and coming real estate investor and to share the stories of successful black real estate investors.