Black Real Estate Dialogue

Don't forget to subscribe, leave us a 5 star rating and review!This episode with Jude Bernard was legendary. Jude's investing journey began when he used his student loan refund for the down payment on a multi-unit property in Queens, New York. His goal was to simply make $500 extra per month. 20 years ago, he realized that Brooklyn would be the next up and coming area to invest in. He chose to make his first Brooklyn investment in Clinton Hill due to its proximity to downtown Brooklyn and various indicators of growth. Through many sacrifices, he persevered through the financial crisis and managed to keep all of his properties. Jude has grown his portfolio to over 30 units in New York City. He also runs the Brooklyn Bank, a non profit that promotes financial literacy and overall betterment of the community. In this episode we discuss creativity, how to find a great investment location, future plans and more.How to find himIG- @mrjudebernardWebsite- https://www.thebrooklynbank.org/Highlights 1) If you can't invest in the epicenter of a city, look at areas on the perimeter. The growth usually expands to those areas and it's still desirable for tenants. 2) Make sure your properties are cash flowing. Appreciation is not a strategy because you have no control over it.3) If you invest in real estate, you should learn about various aspects of the business that impact investing. 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/Advertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

Bruce's Beach was a beach resort in the city of Manhattan Beach (in Los Angeles County, California), that was owned by and operated for African Americans. It provided the African American community with opportunities unavailable at other beach areas because of racial segregation.In 1912, Willa Bruce purchased for $1,225 the first of two lots in Manhattan Beach, and with her husband would eventually build the first west coast resort for black people. The property was acquired by the city via eminent domain proceedings in 1924 and closed down. The Governor of California recently signed a bill allowing the land to be returned to the family. In this episode, I discuss this game changing event and the history of Bruce's Beach. 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/Advertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

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/Advertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

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/Advertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

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/Advertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

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- @atmybest197Buy his course "Ultimate Beginner's Guide to Find and Flip Real Estate for Profit- https://welbyaccely.thinkific.com/courses/FlippingRealEstateForProfits?ref=89e46bHighlights1) 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. Learn how to invest out of state- https://www.outofstatemoney.com/ Access all of our resources on our website- https://www.blackrealestatedialogue.com/linksJoin the B.R.E.D. Investing Community for $1- https://www.outofstatemoney.com/community-sales-page-1Download my free guide Top 5 Down Payment Assistance Programs- https://bit.ly/dpassistance1Advertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

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/Advertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

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-inAdvertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

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-inAdvertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

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-inAdvertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy