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Entrepreneur

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

podcast June 29, 2021

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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 her

IG- @pachirafinancials

Website- https://www.pachirafinancials.com/

Highlights

  1. Your first step before investing should be talking to a lender to see what you can qualify for. Consider speaking to several lenders.
  2. 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. 
  3. 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

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