Episode 88: How to Build a Flipping and Investing Empire

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 him

IG- @atmybest197

Highlights

1) 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.