Tips and Tricks to Analyzing Your First Real Estate Deal with Keshera Lyons
Release Date: 12/13/2022
Keys To Completing Your First Renovation Project
Black Wealth Effect
In our recent episode of the Black Wealth Effect podcast, we had the pleasure of speaking with Keziah, a general contractor and business owner. She shared her experiences in the construction industry, offering valuable advice for aspiring contractors. Keziah discussed the challenges of working on older homes, the importance of building a strong reputation through excellent work, and the need for education and empowerment within the Black community. She also highlighted market opportunities like garden suites and property renovations and emphasized the importance of financial planning and...
info_outline
How to 10X Your Real Estate Business
Black Wealth Effect
In our recent episode of the Black Wealth Effect podcast, we had the pleasure of hosting Andre Chin, an experienced entrepreneur and real estate investor. Andre shared his insights on the importance of building relationships in sales and real estate, emphasizing the power of personal conversations and the strategic use of social media to generate leads. He delved into the art of negotiation, advocating for win-win solutions, and highlighted the significance of understanding market trends and key metrics to create urgency and solve client problems. During the conversation, Andre...
info_outline
Self Made - From Homeless To 140 Doors
Black Wealth Effect
Ray Glymph, a successful real estate investor and entrepreneur, shares his journey from homelessness to owning over 100 properties. He emphasizes the importance of giving back to the community and taking calculated risks. Ray discusses the challenges he faced and the lessons he learned along the way, including the value of systems and the need for affordable housing. He also highlights the role of mentorship and the power of networking in achieving success in real estate investing. Ray's goal is to help more people in the real estate investing space and he offers free resources and...
info_outline
Short Term Rental Design & Management Checklist For Thriving In A Challenging Market
Black Wealth Effect
In this episode, Emily Belton shares her experiences and insights on running a short-term rental property management business. She emphasizes the importance of continuously learning and growing in entrepreneurship, drawing from her background as a soccer player. Emily also discusses the do's and don'ts of designing short-term rentals, the current state of the market, and the key considerations for managing properties remotely. She provides advice for those interested in starting a property management business and highlights the significance of documenting everything and knowing your rights as...
info_outline
From Trades To Triumph - Tips For Growing Your Mindset
Black Wealth Effect
Andy shares his journey in real estate investing and the importance of taking action and being uncomfortable. He emphasizes the need for education, coaching, and networking in order to succeed. Andy also discusses the benefits of managing his own properties and provides tips for vetting property management companies. He believes that now is a great time to buy in the market and shares his goal of growing his portfolio to over 100 units by the end of the year. Takeaways Take action and be uncomfortable in order to grow and succeed in real estate investing. Invest in education,...
info_outline
How A 22 Year Old University Student Started His Wealth Building Journey
Black Wealth Effect
In this episode of the Black Wealth Effect podcast, host Mario Griffiths interviews guest Jude, a successful real estate investor. Jude shares his journey of starting as an entrepreneur at a young age and eventually transitioning into real estate investing. He discusses the importance of having a strong work ethic, the influence of his engineering background on his real estate business, and the significance of building relationships and understanding different types of sellers. Jude also emphasizes the value of identifying lucrative opportunities and leveraging virtual assistants to maximize...
info_outline
Tech CEO Turned Successful Real Estate Investor
Black Wealth Effect
In this episode of the Black Wealth Effect Podcast, Deji shares his experience starting a tech company and immigrating to Canada to build wealth as a real estate investor. The episode also covers seller motivation and the reasons why homeowners sell their homes privately. Deji shares tips for finding off - market deals, his approach to growing his mindset and being successful as a real estate investor. Takeaways When buying a house as an investor, it's important to consider the seller motivation behind the sale Financial difficulties can be a strong motivation for sellers to sell their...
info_outline
The Code to Unleashing Your Buying Power
Black Wealth Effect
In this episode of the Black Wealth Effect Podcast, host Mario Griffiths interviews mortgage broker Royston Simon. Royston shares his personal background and career journey, including his unconventional path to becoming a mortgage broker. He discusses the lessons he learned from a challenging pre-construction experience and offers advice for his younger self. Royston also shares insights into current trends among buyers and lenders in the real estate market. He highlights the importance of being proactive and seeking professional advice when it comes to mortgages. Royston shares examples of...
info_outline
Market Pulse & Top Tips For Finding Off - Market Properties
Black Wealth Effect
The real estate investing market in Ontario has made a major shift in the last few months. With the lack of recent interest rate hikes and predictions of interest rate cuts at some point this year, buyer confidence is on the uptick. In this episode you'll be able to: Understand recent shifts in the real estate market in Ontario Learn about effective ways to generate off market deals In this episode of the Black Wealth Effect Podcast, host Mario Griffiths provides updates on the show and shares recent business updates. He discusses the current market conditions and the impact of interest...
info_outline
Insider Secrets to Virtual Wholesaling
Black Wealth Effect
Virtual wholesaling is an innovative and practical business venture into global real estate. Technological advancement has made investing in real estate across the border a reality. However, just like in any business, there are nuances unique to different markets that every investor should understand. In this episode, you'll be able to: Learn about virtual wholesaling: Differences and Similarities in Canada and the U.S. Understand the power of networking and building relationships in real estate Learn to overcome challenges and ethical considerations in wholesaling Learn tips for...
info_outlineAt first, everything you do can seem overwhelming. You even doubt yourself, make mistakes, and get confused.
In real estate, the same thing can happen. While there are struggles, opportunities are abundant as well. There are ways to get started and seek help. Even without any capital, you can start investing in real estate.
This episode discusses Keshera Lyon's strategy for diving into real estate investing without capital. Her experience getting into her first wholesale deal highlights the importance of mindset for overcoming all the challenges you face. In addition, she discussed the importance of considering key factors when analyzing properties to maximize their income potential.
With the ongoing high interest rate environment, she discusses ways you can stay afloat. She also recommends strategies that don't require a large amount of money up front and generate steady cash flow if you're considering pivoting.
As far as mentorship is concerned, she can't emphasize it enough. It has been instrumental in her success as a real estate investor. There is nothing better than also having a good team on your side.
Don't miss an episode - join our announcements email list http://eepurl.com/h6kR9b
Join us in our Facebook Group https://www.facebook.com/groups/1650395342027022
Follow us on Instagram https://www.instagram.com/blackwealtheffectnetwork/
What you will learn from this episode:
- Find out one smart way to get started in real estate with no money.
- Learn about finding outstanding wholesale deals that are low-priced.
- Know what opportunities you can find amidst interest hikes that are happening in the market.
Keshera Lyons is the CEO of VHP Inc. She started off in real estate via wholesaling and flipping homes. She’s currently exploring property management and arbitrage, but mainly she’s focusing on multifamily these days.
Connect with Keshera Lyons:
- Facebook: https://www.facebook.com/Journey2investingRE/
Topics Covered:
00:50 - Who is Keshera Lyons and how she got started in real estate, and what she is focusing now
05:01- Why she jumped into real estate via the wholesaling route, and what her experience was like getting her first wholesale deal [plus how to get the best deals]
08:03 - What she learned from her first wholesale deal
09:34 - How do on-market deals differ from off-market deals [the value you can find with on-market deals and important considerations to close a deal]
10:45 - What it was like pushing her limits with her first deal
12:30 - Best apps and resources that keep her wholesaling business up and running
13:54 - Working on her first multifamily deal [single-family home versus multifamily properties income-wise]
14:28 - Important factors to consider when analyzing properties
18:20 - How rising interest rates impact the multifamily space
19:01 - Win-win strategies during a recession
20:42 - Pivoting her business with arbitrage
23:07 - How coaching massively helped her in her real estate investing journey
25:00 - Important takeaways from the whole experience of getting started in real estate investing
26:38 - What she’s up to these days where real estate is concerned
Key Takeaways:
"Keep doors of communication open with the buyers and with the sellers, to be as transparent as possible. And to definitely know , like, whatever province you're looking to do real estate, know, the forms that come with it." - Keshera Lyons
"You're the only one that stands in your own way; it's all about believing in yourself." - Keshera Lyons
"Have a mentor or a circle that you can go to to ask questions. A good lawyer, who's not only good in real estate, but who's real estate investor savvy." - Keshera Lyons
"The higher you go, the more units you go, the easier it is because, with a single family, they're looking at your personal income. With multifamily. they're looking at the income of the property itself." - Keshera Lyons
"With underwriting or analyzing properties, it's important to have the income and expenses; you need to know all the expenses of the property and all the income because that's going to really determine the net operating income." - Keshera Lyons
"If you're able to connect with a seller, or like a owner, you could work something out and have some creative financing, even with the high interest rates and the switch in the market."- Keshera Lyons
"A big tip is to get a coach, get a mentor. Sometimes it may be a little pricey, but it's worth it because you'll make that back as quickly as possible." - Keshera Lyons
Connect with Mario Griffiths:
- Facebook: https://www.facebook.com/marioginvest
- Instagram: https://www.instagram.com/marioginvest/
- LinkedIn: https://www.linkedin.com/in/mario-griffiths
Connect with Ron Christopher:
- Instagram https://www.instagram.com/ron.investor/