121. Real Estate Resilience: Women Innovators and Atlanta's Growth Story

🌟 Unlock the Secrets to Thriving in Real Estate! 🌟

Join host Niyi Adewole in this exciting episode as we dive deep into the world of real estate investment during times of change and uncertainty! With the Federal Reserve's recent interest rate cuts, we’ll explore how this pivotal shift is energizing the market and creating fresh refinancing opportunities.

🚀 What You’ll Discover:

Trailblazing Women: Celebrate the incredible achievements from the Ekabo Home "Women Breaking Ground" event, highlighting dynamic women reshaping the entrepreneurial and aerospace landscapes.

Real Estate in Crisis: Learn about the critical role real estate plays in providing housing solutions during emergency situations, especially in Florida's severe weather challenges.

Atlanta’s Investment Goldmine: Get the inside scoop on the transformative redevelopment of the West End Mall and why it’s a hotbed for investment opportunities.

Whether you’re a seasoned investor or just starting your journey, this episode is packed with inspiring stories and actionable insights that can propel you toward financial freedom.

Keywords

financial freedom, real estate investing, multifamily properties, cash flow strategies, community networking, market trends, investment opportunities, house hacking, property management, entrepreneurial success

Summary

In this episode of the Financial Freedom Mastermind Group Podcast, host Niyi Adewole discusses the journey towards financial independence through real estate investing. He shares insights on current market trends, the importance of community and networking, and innovative strategies for maximizing cash flow through multifamily properties. The episode also features inspiring stories from successful investors, emphasizing the potential for growth and opportunity in the real estate market.

Takeaways

➣Breaking free from the traditional work grind is possible.
➣The last quarter of the year can bring new opportunities.
➣Networking events can lead to valuable connections.
➣Real estate can provide essential living situations during emergencies.
➣Investing in areas with growth potential is crucial.
➣The multifamily market offers significant returns for investors.
➣Creativity is key in maximizing cash flow from properties.
➣House hacking can be an effective strategy for new investors.
➣Inspiring stories can motivate others to pursue real estate.
➣Community support is vital for success in investing.

Sound Bites

"A rising tide lifts all boats."
"The multifamily market is competitive."

Chapters

00:00 Introduction to Financial Freedom Mastermind
00:28 Market Insights and Real Estate Trends
03:20 The Importance of Community and Networking
05:14 Investing in Multifamily Properties
09:05 Innovative Strategies for Cash Flow
10:03 Inspiring Stories from Real Estate Investors

🔔 Don’t forget to like, subscribe, and hit the notification bell to stay updated

🗓️ Tune in every Wednesday at 7 PM Eastern! Don’t miss out on our journey toward financial freedom through smart investments.

👉 Hit that subscribe button and turn on notifications so you never miss an update! Let’s unlock your potential together!

Our Links

➣ Financial Freedom Mastermind Facebook Group - https://www.facebook.com/groups/53083...

➣ Peer Space Host Referral Link https://www.peerspace.com/referrals/g...

➣ AirBNB Host Referral Link https://www.airbnb.com/r/niyia41

➣ Ekabo Home Network (IG, Youtube, Email) https://linktr.ee/ekabohome

Niyi Adewole is a licensed realtor in Georgia, brokered by EXP Realty. Feel free to reach out at Niyi.Adewole@exprealty.com if you would like to work with an investor friendly real estate agent.

Transcript

Speaker 1: 0:00

Welcome to the Financial Freedom Mastermind Group Podcast. Here we're all about breaking free from the 40 to 50 year work grind and accelerating our journey towards financial freedom. Join us every Wednesday at 7 pm Eastern as we explore different types of investments that can fast track your path to financial independence. We serve as a hub for connecting with fellow members during our sessions so you can share successes, ask questions and keep the momentum going.

Speaker 2: 0:24

Good evening everyone. This is Nii Adewale, host of the Acaba Home Financial Freedom Mastermind Group, and I'm excited to be joining you here today. We are well into the last quarter of the year and I'm actually really excited to kick this thing off. I think the last quarter was a time period of a little bit of uncertainty in the real estate space. Was the Fed going to actually start lowering rates? Well, that was answered and they did begin that rate lowering cycle, and now we're starting to see some more refinances, some more activity pickup, and so I'm excited about that in general. Not to mention, this past week, the Acaba Home family had an amazing women breaking ground event where we got to learn from some dynamic women in entrepreneurial aerospace as well as in real estate, crushing it in their chosen fields and trailblazing a path. So that was exciting. So anybody that was there, it was awesome, it was cool networking and, for those that were unable to make it, we look forward to hopefully seeing you at a future Acabo Home event. We try to do it once a quarter, and so we should have one coming up toward the end of the year. We like to invite anybody that's on to either throw questions in the chat and or join live so that we can hear more about what you're doing and working on and also be able to kind of take this conversation where it goes. But feel free to join via the chat and or join live and we will kick this thing off.

Speaker 2: 2:00

On a complete side note, we do have team members now in Florida, and so prayers up to them. I've checked in with a few and they seem to be doing fine right now. That being said, that weather alert is on because landfall is supposed to happen tonight, and so definitely want to keep all of our Florida family in our prayers. And on another side note, there's been a lot of evacuations happening in the Western Florida area and, on another side note, there's been a lot of evacuations happening in the Western Florida area and so, like I don't know about you guys, but we've been getting a lot of B&Bs, a lot of B&Bs coming, a lot of B&B bookings coming up from Florida. So we've gotten, you know, we manage about 30 properties and typically during the week is a little bit tougher. So we may have like 50% of the properties occupied during the week, depending on pricing, things of that nature have like 50% of the properties occupied during the week, depending on pricing, things of that nature, but this week literally everything is occupied and people are trying to extend because they don't know how long that damage is going to be, and so that's another benefit to what we provide right, and what you as investors provide is you provide a living situation. A living situation and an opportunity for somebody who's trying to relocate with their family right, especially in an emergency situation. And so I think that it's at these times where you truly see it's not just an investment but it's also something that's needed for the greater society. And I see Kaniyo in the chat and I'm pumped that you were able to get yours booked as well and that you joined, and I think last time we weren't able to get yours booked as well and that you joined, and I think last time we weren't able to get you in. But did you have any questions or comments based on the last conversation we had on here?

Speaker 2: 3:32

One other piece I'm excited about that's upcoming is I don't know if you guys mentioned it or have seen it, but the West End Mall in Atlanta is getting redeveloped. It actually was purchased for about $450 million by some developers that are going to turn it into a mixed-use area, and so when you look at the metro of Atlanta, there's a lot of investment getting poured in by both the government with the Beltline getting finished as well as private capital, and so all around, a rising tide lifts all boats, and so it's great being in a city or an area where there's a lot of upside right, because it's hard to miss. Here. You really just got to find a solid investment that you can hang on to for the long term, and if you're able to do that, they tend to drift up into the right, especially around here, looking at the sixth largest metro. And so that was one of the major reasons that I even decided to move down to Atlanta, because when I was making the decision to move to the Southeast, I thankfully was able to get a promotion at the job that I was working at, and they said, hey, you can choose anywhere in the Southeast region. Right that you have an account, and so I could choose anywhere from Texas to Florida, to North Carolina, to Tennessee, to Georgia, and, after looking at all the metrics and visiting different areas, settled on Georgia because of all the things that we just talked about right, 30 of the Fortune 1000 companies based here, the diversity of income, the diversity of the people themselves and your proximity to be able to drive down to Florida, drive over to Carolinas, over to Tennessee and kind of get the benefits of all worlds. And I see that question on the multiplex target. I can tell you that, yeah, I'm helping a couple individuals even right now with the small multis.

Speaker 2: 5:16

With the news that was released late last year, the fact that you can put down 5% on a small multifamily, it's only gotten more difficult to be able to acquire these because there's more buyers out there that are actively looking for these to do a house hack, and so when it comes time to go buy one of these multifamilies, you really got to have all your ducks in a row and be ready to move on it. I can tell you I got mine by securing this home under contract before it was even finished being built right, like got it under contract and we didn't kick off due diligence for like three months because we had it under contract to where we had the paper and I was able to still look at other deals and see if there's anything else that popped up while we were waiting for it to get finished. This was kind of a unique one, but we've seen some nice ones out there as well. I've even seen one or two that we potentially are going to get under contract as early as tomorrow morning, that we've put offers on for different investors. So, yeah, the multifamily market is competitive, but it's one of the biggest bangs you can get for your buck, especially if you're looking to do a house hack and I'm all about it, it's fun. But, again, this is an open session, so please feel free to join via chat and or join live and we will make it happen. Good question Areas you can get good deals for a multiplex. So it really depends right, it depends on what you're looking to do.

Speaker 2: 6:39

So for the last multiplex that I got, I was less concerned about amazing numbers, as I was about the area. I wanted to be an area that is like on the pathway to, where it's like, hey, they're going to complete a lot of things in this area rapidly, to where we can get a high appreciation rate, and so the duplex I purchased is actually on the edge of Summer Hill, like you can walk to the main strip of Summer Hill, you can go see the Georgia State University Stadium, and it's about three blocks off of the Southside Beltline, which is being completed right now, and so when you look at that Beltline and you look at the east side, it's hard to touch anything that's near the belt line. If you're three blocks from the belt line and you're in a multiplex, oh yeah, it's going to be in the millions of dollars and so same over here. Once they finished that south side belt line, all the houses that are alongside it, including any multifamilies, are going to just skyrocket, and so that's what I was more focused on. So that's one way to look at it.

Speaker 2: 7:37

If you're looking at neighborhood, then the deal is hey, can you get a property that is going to be able to pull in some income for you and can you rework it in a way that you feel comfortable paying whatever's left over? So that's one way to look at it. If you're looking purely at the deal, there's many to go around. You move a little further out potentially. So I've seen some solid like triplexes out in Decatur that make a lot of sense, right, number wise. We've seen some out in Gwinnett County, like the Lawrenceville's and Lilburn's of the world.

Speaker 2: 8:09

But if you really want to be inside the perimeter, we really got to take a look at what is available and sometimes get creative. It may not all be long-term rental work. You may have to furnish one of those units and turn it into a short-term or mid-term rental to make the numbers actually make sense. And so that's kind of what we've been doing and advising investors. Especially if you're going to go that house hack route and put down 5%, you're putting more pressure on the deal itself because you're keeping most of that money in your pocket, and so you have to get creative with how you're getting that cashflow in the early years and understand that it's only going to get better each year that you go. So, for example, the one that we did we bought a duplex, turned one unit into a luxury short-term rental right and then live in the front, and so that essentially allows us to pull in significantly more to help offset that mortgage. And for those who may not have seen it, we actually sent on a message because we dropped a podcast that was a little bit different.

Speaker 2: 9:06

So typically we try to bring any guests onto the Acaba Home Financial Freedom Mastermind Group so that the group can get the opportunity to interview that guest too. But this guest our just schedule didn't work out for doing it at night, and so we actually got to interview a lady by the name of Ginger Faith who's been in the real estate investing game and entrepreneurship since 1994. She actually started with the house hack before it was called a house hack. She bought a sixplex back in 94, lived in one unit while she was renovating the others and essentially was cash flowing because the other units were covering the mortgage and paying her additional $500 per month, and so her story is now on the Acaba homepage. Feel free to go check that out on YouTube, apple Podcasts, and we're going to be dropping small clips from it throughout the weeks to come. But it was an awesome interview, definitely inspiring, and she's blazing a trail for women in real estate and really anyone looking to be in this long term.

Speaker 2: 10:06

Guys anything else top of mind? Any other questions? All right, guys. Well, hey, I hope everybody has an awesome Wednesday. We're also dropping another episode next week. That was an in-person the first one I've done in person was an in-person. The first one I've done in person a guy by the name of Adonis. We did this after we had our event on Saturday, had an in-person with him. This is a guy that owns 62 units across multiple states. He's doing some mobile home parks, he's done some ground up development. He owns two 10 plexes right, or don't quote me on that One 10 plex, I think it's an eight plex, one in Florida, one in like the Carolinas, where he's doing all short-term rental and he's built out systems to make all this run. And so that is one that is in editing right now and will get dropped next Wednesday. So I'll definitely send a message to you so you can listen to that, and I look forward to catching you guys next week.

Speaker 1: 11:00

Join us every Wednesday at 7 pm, eastern as we.