Black Real Estate agent gets FIRED for encouraging BLACKS to learn about R.Estate investing.

[Citi Trends]

Meanwhile the rest of the planet laughs at them for looking like clowns.

I doubt I'd care about being in a suit if I was bringing in millions of dollars.

I would much rather wear a velour sweatsuit in my buggati then wear a suit to a 70k job and have rashida from human resources tell me I look spiffy

 

[TELL ME YA CHEESIN FAM?]

you should make a thread B

Be careful

Dude is a Master

 

[Afro]

I keep trying to tell bruhs real estate is where it's at, anything real estate related is usually the biggest type of purchases ppl will end up making in their lifetimes. In other words your can make large money quick cause you're usually dealing with large numbers.

Just bought my first duplex for cheap in May and i plan to scale up and retire off this shyt. My brother wants to get into flipping and when i get it i'll front him but what i explained to him one day is most black ppl are scared to get a mortgage and scared of what could go wrong as far as repairs. I told him most ppl stay in a rental a few years and might need something major repaired/replaced once a year on average. So for most of the time you own it it's basically printing money for you.

I need to learn more about other real estate investment strategies but the breh @Master Teacher is right, if you know what you're doing you don't even need your own money to get into it. Find some buyers/investors and flip with their money.

No joke, it is the first thing people bring up. I was curious about it a few years ago and my dad shut down the thought with the quickness.

"What about if something breaks boy?! Who knows how much it could cost, could get ripped off, etc etc etc."

My question is, how do you avoid them cutting you out of the deal? The buyer and the seller meet up. They really don't need you no more right?

 

[ORDER_66]

How did he get the money for a 2 family house in a nice part of Jersey at the age of 24-25?

ARE YOU fukkING SERIOUS?!!? WHITE PEOPLE HAVE DONE MUCH WORSE FOR THE EMPIRES THEY MADE IN THEIR LIFETIMES AND YOU WONDER HOW HE GOT THE MONEY FOR HIS FIRST HOUSE?!!?

 

[Swirv]

I'm happy to see all the videos of Black brethren making money as owners as of late. Minds will be sparked and those already with a carved path will be nourished

 

[Field Marshall Bradley]

ARE YOU fukkING SERIOUS?!!? WHITE PEOPLE HAVE DONE MUCH WORSE FOR THE EMPIRES THEY MADE IN THEIR LIFETIMES AND YOU WONDER HOW HE GOT THE MONEY FOR HIS FIRST HOUSE?!!?

I don't care how he got the money for the first house.. .my point was that he had a lump sum at a young age........ nikka I'm from the game......

 

[Reality]

You have to understand real estate terminology

lucky for you, I good enough where I can explain it to you step by step.

Doesn't mean you are going to able to execute, because you can literally google how to buy a real estate property without money

Like I said, this why classes, books, and all that shyt don't work. Because at the end of the day you still need the pieces to execute.

I started at young age, so I knew people just by being around, and being involved in the streets, so pieces would come to that I can take advantage of

being on the outside, you can still do it, but you will have be like a detective to track down the components you need as well as a good sell man.

Basically you need a property first

In my case this was a commercial property I had gotten wind off from a realtor I knew who was looking for a buyer

This was an apartment building with the purchase price of 300,000, but was really worth 1.1 million, which I will have to go into in another post how to find values of such properties.

So the spread was 800 that's amount of money between the purchase price and the value

Which is a tremendous deal, ideal or an investor. A good property like that, it hasn't hard to find a buyer. A few phone calls, a few messages, wasn't long before somebody brought me a cash buyer, the end buyer I will call him.

I drew up two contracts, one contract with me as buyer at 300,000. The other contract was 500,000 where I have the price at a point where I'm getting cashed out, as well as the realtor who brought me the property, and the person who brought me the buyer I will pay out the proceeds.

Since this was a cash sale, I can execute both contracts at the closing table, which is called a simultaneous close. it can only be done with a cash buyer, because the bank will not send money if the seller on the purchase contract isn't on the title.

But with a cash sale I don't need to worry about chain of title, I can effectively buy the property and sell it at the same time, using the end buyer's cash and never doing anything but move papers around.

So if I'm reading it right you essentially played the middleman...buying with the intent of flipping immediately? How'd you settle at a $500k sell price with the $1.1M valuation? Would love to hear your thoughts on the RE game in Cali as well if you'd like to pass the mustard. Just getting started in this but Cali seems like a different animal with how high purchase prices are.

 

[Master Teacher]

So if I'm reading it right you essentially played the middleman...buying with the intent of flipping immediately? How'd you settle at a $500k sell price with the $1.1M valuation? Would love to hear your thoughts on the RE game in Cali as well if you'd like to pass the mustard. Just getting started in this but Cali seems like a different animal with how high purchase prices are.

Because its' cash. I cash investor needs the investment property to have enough equity in it to make it worth buying in the first place

I left him with enough room where it was still great deal, where he could either sell to somebody else, or sit on it.

 

[ORDER_66]

I don't care how he got the money for the first house.. .my point was that he had a lump sum at a young age........ nikka I'm from the game......

Oh i was about to say cause you sounding self righteous right about now...

 

[ZoeGod]

So the fukk what if Morrison invested drug profits into a legitimate business like Real Estate? Throughout history unethical & illegitimate practices are also how many wealthy whites made vast fortunes or formed empires. Only naive fools believe that strictly following the letter of law will completely guarantee success as a entrepreneur.

Breh where did I say that was wrong. Like I said I have heard stories of Big Willie nikkas here NYC who sold dope and got into real estate in the South. Whites,Asians and hispanics do it too. Nothing is wrong what he did. I wasn't criticising him.

 

[Field Marshall Bradley]

Oh i was about to say cause you sounding self righteous right about now...

Never that man... Far from it......

 

[O.G.B]

Breh where did I say that was wrong. Like I said I have heard stories of Big Willie nikkas here NYC who sold dope and got into real estate in the South. Whites,Asians and hispanics do it too. Nothing is wrong what he did. I wasn't criticising him.

My bad! I thought you were trying to downplay his overall accomplishments due to his past. Much respect fam.

 

[ZoeGod]

My bad! I thought you were trying to downplay his overall accomplishments due to his past. Much respect fam.

Nah breh Jason Morrison is the real one. He has so many videos that educate anybody on the basics to get good credit and good game real estate. He is really down for his people.

 

[sosaa]

Drug money likely. Probably sold his last key,boost his credit and bought a house. I have heard stories other Big Willie nikkas who got out of the game through real estate.

its a lot of dope boys out there who transitioning into real estate right now

 

[Berniewood Hogan]

So many athletes and other entertainers wear so much clown sh!t that only they consider dressed up.

TO BE FAIR, ATHLETES TEND TO HAVE UNUSUALLY SHAPED BODIES AND NEED TO GET THEIR SUITS CUSTOM MADE, SO THEY MIGHT AS WELL GO ALL OUT, BROTHER!