Today we’re going to dive into building wealth through the power of Real Estate. In today’s episode, we will be talking with ‘The Charm City Buyers’ – Khalil and Kyara.
They are building wealth through real estate in the city of Baltimore. They are going to share with us how we can build wealth through the power of real estate investing as well!
Starting Real Estate Investing
Khalil and Kyara invest primarily in Baltimore and they have built a portfolio of about 20 rental units. Moreover, they even own an entire block of properties in Baltimore. They started their journey in 2012, they have used various different methods to build up their portfolio.
They started investing right after college, real estate was always a passion of Kyara’s and Khalil was always interested in being an Entrepreneur. So they decided to dive into the Real Estate world.
First off they started going to real estate investment association meetings to learn more information about real estate before they began. Furthermore, they also read some books and got around other people that were entrepreneurs to fill their brains with all of the information they needed to take the step forward. Then they started looking at properties and formed their first deal. All of this happened within about 5 months.
Investing In The Property
After buying the first property, they were all in with real estate investing. Kyara and Khalil had a nest egg saved up in order to pay cash for the first property that they invested in. However, there was a lot of work to be done to improve the home so that it was ready to live in. So they had to find help to complete the project and decided to go with a loan from a non-profit organization.
After they worked with the non-profit and got the house renovated, they decided to rent out the home and they still have the same tenant living in that property today. Then after that, they took that whole model and learned from it and kept growing off of the things that they learned to make it better in the next investments. This helped them build their portfolio and grow from the mistakes they made in the beginning.
Why is Investing In Real Estate a Good Idea?
Real estate is the cornerstone of wealth building. If you look at some of the most financially savvy people, they usually have real estate in their portfolio. So, whether you are investing to build a large portfolio or just buying your own personal home – there are ways to make your real estate investment fit where you are and what you’re looking for in real estate.
Having assets in real estate can be great for your portfolio. A reason for that is because people are living longer, they are more healthy than before. This means the population is growing at an exponential rate.
There’s a finite amount of land, so at some point whatever you buy is going to appreciate. In the past, there have been points that the market has dipped, but in the last 100 years everything has appreciated, so it doesn’t make sense to purchase something and let it sit. It’s better to find something, find the funding, and fix it up.
What You Will Learn
- What is real estate investing?
- Why you should invest in real estate
- Ways to fund your real estate investment
- What approach to take when purchasing real estate
- Scams to avoid in real estate
- Strategies in buying other investment properties
- Approaching investors and buyers about buying real estate
- Benefits of having a Real Estate License
Resources Mentioned
Thanks For Listening!
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