The U.S real estate market may finally be rebounding. What does that mean for you, the investor? IVY Member Brittney Calloway, founder of Top Notch Property Solutions, recently sat down with IVY Magazine to share insights on her experience in the real estate industry and discuss some promising trends she’s seeing and how they might affect you.
Brittney Calloway is an IVY Member. Connect and collaborate with her here.
IVY: What’s the best piece of advice you’ve ever received?
My mentor really made an impression on me that it’s very important to work to implement the advice and information you receive when you take the time to invest in your learning. When you sign up for a conference, seminar, or workshop that you are passionate about, bring a pen and pad and know exactly what three things you are going to implement to help better yourself the next day.
As someone who has spoken to a crowd of 200, I have already seen 100 people really grasping/writing down what I am saying, about 50 people will plan to attempt one thing I said, 25 people who may call/email me to follow up or for additional resources, but there is ONLY one that fully takes advantage of all the resources that I have provided and the next time they see me and will say, “Your presentation transformed my life.”
I have been on the end where I have not taken advantage of everything at a seminar, but I have also been the ONE who follows up with the presenter and ends up doing business with them in some way, shape, or form. Be the one to walk away and implement the strategies given to you so that you can thrive and come back a month later saying progress was made.
IVY: How did you get into real estate?
I was first drawn to real estate when a friend gave me the book “Rich Dad Poor Dad,” by Robert Kiyosaki while I was a first year self-contained special education teacher. Later in the year. I had my first real exposure to the real estate struggles families go through after I helped counsel a family going through the foreclosure process. It was rewarding to feel like I was helping, but was truly disheartening to learn about the other systemic issues that were taking place. Companies and developers were buying houses from these families without helping address their biggest financial needs.
After that, I bought into an education company that taught me the A-Z of real estate investing, which sparked me to examine the many types of investing and how to build 7 streams of income. As of now my seven streams include: doing residential rehabilitation projects; investing money from my 401k and 403B in real estate; using affiliate marketing through all my networks; using my additional income to buy rentals and passive income properties; consulting small businesses on how to put their companies on automation; speaking engagements; and network marketing.
IVY: What’s the biggest trend you’re seeing in the industry?
One of the biggest real estate trends that I am seeing now is that home prices are without a doubt on the rise and in some markets are hitting record levels. My company has worked on a few residential projects recently, which made us the highest sold comparable in the area. I have say, it is still a sellers market. According to reports, total housing inventory at the end of May increased 1.6 percent to 1.89 million existing homes for sale, but that’s still 0.5 percent less than a year ago.
Another trend is that in most markets, especially for first-time home buyers, it is still relatively cheaper to buy and obtain a mortgage than to throw away your money to rent.
IVY: What is the biggest misconception people tend to have about investing in real estate? What would your advice be to members who are looking to invest?
I think the biggest misconception is that people think you need a lot of initial capital to start investing, when in fact that is not true. You can invest today through your 401k and 403B.
In addition to making extra income in real estate, there are wholesalers who still have full-time jobs and spend no more than $300 a month on marketing, who are bringing in deals that are averaging 7k a month.
I would also encourage people looking to invest or accumulate rentals to start looking at the different markets and what they can get for their money. I personally have rentals that are managed in three different states; one of them being a 4 family unit that I acquired through Subject II financing that only cost me under $10,000. With all of the creative ways to structure your real estate deals now a days, there are many ways to acquire rentals without putting a lot of money out upfront.
IVY: What’s a key challenge you’ve faced, and how did you overcome it?
Honestly, the biggest challenge was actually taking a leap of faith and quitting my full-time job to work for myself. But when I really thought about it, I found it wasn’t too hard to convince myself. I was tired of not getting paid my worth and feeling like I was working so hard to build a dream that was not my own.
I finally realized that I had all the tools necessary to succeed on my own full time and that I just needed to press the “Go” button. I did it a little sooner than I should have, but it taught me how hard I was willing to work for myself to make my dream a reality, and for that I am forever grateful.
IVY: How can IVY Members help support you?
I would really like for IVY members to let my company help them with their real estate needs as well as their consulting needs for their business. My consulting course was just released and helps small business-owners learn how to fire themselves from arduous tasks so that they can leave the technician role and focus more on their role as entrepreneurs. Whether you are looking to learn more about real estate, investment strategies and opportunities, rentals to build your passive income, or you know someone who is going through a divorce, foreclosure, probate, tax lien and needs to sell their house quickly, our company can help.
I would also love for IVY members to connect with me on LinkedIn, Facebook, Twitter, (@TNPropertyDC), and through Instagram (@TNPropertySolutions). Lastly, please reach out to me for a free 30-minute consultation to discuss any residential, commercial, or business advice. I am happy to help where I can and who knows, we can maybe do business together!
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