A 26 year old woman’s improbable journey to owning 18 homes (#004)

A 26 year old woman’s improbable journey to owning 18 homes (#004)
Roger Bourget

Jamisa McIvor, at the age of 26, owns 18 properties without having an investor! She started out with a title transfer from her grandmother’s home. In all, her costs were $400 to transfer her family home into her name. When her grandmother passed the following year, she decided to move into her home, however; she was in for a surprise.

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18 Properties Owned at 26 Years of Age - Jamisa McIvor (004 1)

What do you do when you Inherit a house and have no Money to Fix it - Jamisa McIvor (004 2)

Selling Distressed Asset As is - Jamisa McIvor (004 3)

Money in Market vs Money in Real Estate - Jamisa McIvor (004 4)

Buy and Hold vs Fix and Flip in Real Estate Investing - Jamisa McIvor (004 5)

How to Manage Properties on Your own - Jamisa McIvor (004 6)

Mistakes in the Investing Journey - Jamisa McIvor (004 7 )

Advice to Young Aspiring Real Estate Investors - Jamisa McIvor (004 8 )

Podcast Description

Jamisa’s new home was decorated “grandmother style,” and she wanted to change the look. She wasn’t aware of the cost of renovation, most estimates coming in around $60,000. Many of the contractors offered to buy the home cash for approximately $70,000. She realized the home was worth more than the offers she received, so she decided to sell the home for $152,000. This was a large sum amount being she lived on her cashier’s salary. Not soon after she sold the house, she realized she could have sold it for $300,000.

She recalls her first few moves in real estate were “solely based on fear” as she wasn’t sure what she was doing in this new realm. After her first experience with selling a home, she realized that real estate was a good investment and a way to earn money. She was approached by multiple investors and was offered partnerships with several investors.

Listen in to find out how Jamisa handled the slew of investors wanting to partner with her, how she held to her guns and didn’t fold when looking out for herself and how she decided which deals she thought were the best deals for income stability. Learn how she throws out data and uses character radar to find out how dependable this person is for business.

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In This Episode:

[02:00] Jamisa describes her background and how she came to invest in her first property.
[04:16] Being the eldest of ten siblings, Jamisa learned at an early age she had to be responsible and mature for taking care of matters well in advance of her age.
[08:04] Jamisa’s first walk-through of her “new” family home.
[13:56] Gentrification and how this affects homeowners of gentrified properties.
[18:41] She walks through her first real estate transaction process, starting to figure out the details.
[21:47] Investors start to approach Jamisa with offers for her to work with them.
[30:46] Abandoned houses and her model of picturing how they would look after remodel.
[32:23] Profit, rehab and after remodel value of her real estate purchase.
[35:34] Jamisa realized she could remodel much of her real estate herself with the help of her boyfriend, now her husband.
[39:40] How she built her portfolio without going into debt, using auctions.
[43:55] Property management, and her gut feeling with who she is partnering with in business.
[46:20] With 18 properties, Jamisa has never had any leasing or rental issues with payment.
[50:12] Quantum money principle with credit cards and how she used trial and error to invest.
[52:23] Leveraging, fixed rates and how she builds her business relationships.

Guest Bio

Jamisa McIvor-Bennett is a wife, mother and CEO of Rosebuds Investments. She is currently the deed holder of 18 properties, all in which she’s purchased with no mortgages. Jamisa’s early real estate investment career began at the age of 20 with selling her first home she bought from her grandmother. Although Jamisa is considered a novice investor, she has learned to master the industry at just 26 years of age, acquiring wealth of investments over $1,000,000.

Her investment company, Rosebud’s Investments, named after her grandmother, has helped over 900 other real estate investors to purchase investment properties. Jamisa was recently welcomed into the Forbes The Culture, a community for underrepresented 30 Under 30 list members.