[00:00:00] Jhanel Wilson: I don’t want your debt you don’t want to use unless you have bad credit, you’re in a bad situation. That’s all you can use. But for most part, you want to use the top tier lenders who have the best rates, who don’t change terms on who don’t call the loans for no reason. And those you find those means locally those local baits, usually with a credit union and find them at local real estate meetups, find them at meetups or on Facebook groups, and you have to go to different types of meetups like go where different races are just to see like who would use what, and then pull that together and figure out which one is best for you.

[00:01:06] Nicole Pendergrass: Hey, everyone. So today we actually speak to Jhanel Wilson. And let me tell you, we talk a lot about how she started her journey as a real estate investor, especially using debt. She highly leveraged debt at the very beginning actually strategies to get 100% financing on her very first property, and how she was able to grow that and how she continued to strategies and develop and transition into bigger properties and larger unit counts. Not in one building, she’s still stuck mainly to that one to four unit range in residential properties. But what I love about her story is that it shows you that this is possible that evenif you’re starting with no money, with very little knowledge, and no network, you can still make it happen if you have that grit and determination. So Jhanel actually went to school for chemical engineering. And she started young though maybe like right after she graduated, she was 22 when she got her first opportunity to invest in a property. And then she learned from there, she knew nothing. And she learned how to make it work, how to make it grow. She saw the benefits, she saw the rental income, she saw the equity and being able to cash out and all while basically building the plane while jumping out of the window and building the plane on the way down. She didn’t even know what she was doing. And she still was able to transition into a huge portfolio with 150 plus units at this point $11 million in assets under management. And she still is buying and she’s people are bringing her deals because she knows so much about real estate now she really learned by fire. But that’s why we have these conversations so that you can learn what to avoid. And you can learn strategies to get into real estate investing, where you don’t have to have a lot of your own capital and you can build up a use that as the way to grow and then invest that money and reinvest it and keep growing and then also transitioning it where you can leave that that money to your heirs, however, that looks for you and your journey.

[00:03:18] Nicole Pendergrass: So, Jhanel, she’s a testament of opportunities to succeed in the industry as a minority. And as a woman with great creativity and finesse, she started her journey with a lack of capital, and for nearly two decades, has built a portfolio worth over $11 million and comprising about 150 units. Like I said before, she’s a chemical engineer turned investor. And her mission is to assist others in removing fears and complexities about breaking into real estate. So you need to listen to this whole episode, she dropped so many gems and jewels. And I will see you there. Let’s get started. Hi, everyone. Welcome back to another episode of the share the wealth show, I am your hostess, Nicole Pendergrass. And this is the show where we build grow and protect minority wealth by talking about the different strategies that are maybe a little bit against the mainstream, right, not your typical strategies. And I just actually want to thank you for joining us and tuning in today. And I want to thank our guest Miss Jhanel Wilson for coming in and taking time out of her busy busy schedule to actually talk with us and impart wisdom. I know today’s gonna be great, you need to grab a pen and paper. And if you pick up any jewels or nuggets of wisdom from today’s episode, please leave us a rating and review. And don’t forget to subscribe so that you don’t miss future episodes as well. So Jhanel, Hi, how are you? Thank you for joining us today.

[00:04:51] Jhanel Wilson: Well, I’m actually really good, great things are happening. So this is like the first podcast I’m doing where I’m like happy.

[00:04:57] Nicole Pendergrass: I’m like you Oh, imagine what’s happened you I mean, I follow you on social media. So I see the craziness you have to deal with in your properties. And I’m terrible property just like life.

[00:05:12] Jhanel Wilson: Pandemic life was horrible. Yeah, yeah.

[00:05:19] Nicole Pendergrass:

I’m sure we’ll get into all of that I read beforehand, a high level of your bio. But for right now, just tell the listeners a brief intro of who you are, what you were doing before, what you were doing now and why you made that transition? Well.

[00:05:37] Jhanel Wilson: I got in real estate really early at 22, because my dad had a duplex that was on the same block as my grandmother’s. And he had when I was young, and a seed got planted when he went across the street to get some cash for the summer. And he came back and we all saw this money that he had, I was like, Oh, my God, what this house called street equals money. So that was when a seed was planted. But life happened and my parents divorced, separated, I forgot all about the property, I spoke to him. And years ago, later, a college that same duplex was on for share sale, I wound up saving the sheriff sale paid back taxes, what’s going to get torn down and how to fix the violations. I went through regular ups and downs with contractors but I use 100% financing with credit cards, student loans, home equity loans all on this property. And when I finished it, I got to two section eight tenants in there. And I started cash flowing $700 a month and I was at the age 22. So it was like, so I got introduced to real estate very early, my degrees in chemical engineering. So I was doing both at the same time. But as soon as that happened, I realized that real estate was pretty much the path that I needed to go and to figure that out along the way. And now right here I am 18 years later, I have a portfolio worth over 11 million and growing. And over 150 Something units now I’m actually teaching people how I do it.

[00:07:00] Nicole Pendergrass:  Wow. Okay, so I already want to dig into something there because you use 100% financing for your first property. And I know there’s a huge divide with people either being completely against debt, or completely for debt and thinking or maybe you’re over leveraging or whatever, there’s so much that’s a really hot topic, right? I just want to show people that there are ways and if you can be creative and and learn. And it’s not that it’s going to be easy, but it is possible. Maybe you just have to figure out what’s right for you and what’s not. So why what to go into the 100% financing. And if you still use strategies like that, for acquisitions today, or what debt looks like today, for you to.

[00:07:47] Jhanel Wilson: I’m like, all in about leverage, like, I think that’s my niche. We know a lot of investors like no debt, people talk about no debt, but on because I started out using it, I’m so comfortable with it. And I spent have so many years dealing with it that I’ve learned all different kinds of experimented with good kinds, bad kinds, and I just kind of figured it out. But so it was a unique situation. So when I first found out there was one bit of ShareASale, I got a student loan, and I paid back the 5000 in taxes. And then when I was gonna get demolished, I got I use a credit card cash advance to fix that. And I didn’t, I didn’t know what I was doing. I was just kind of solving problems at the time and just putting band aids on stuff. And I was just like, you know, this house must be worth more than, you know, this 5000 putting into it. So I was just kind of tackling things as I went along. So I was already intimate 10,000 with the student loan with the credit card. And then I didn’t really have any more resources, and I was going to sell it. But I’m an investor offered to buy it from me for 45,000. And this was back in 2004. And it was a domino total renovation. So I thought it was worth maybe about 2025 and when he offered me 45 for it, it was a light bulb, like a few months to pay 45,000 was maybe I should keep it because I didn’t see what he saw. So I’m like, No, I’m gonna figure this out and keep it so I wasn’t getting my dad sold me the house for $1. So I want I’m getting a home equity loan. And they did a drive by appraisal. So I fixed up the outside of the house. It appraised for 70,000. So they award me a loan of 63. But it had a bunch of mortgages, liens and all types of other stuff one on one, I’m getting about 20 to do the repairs. So it wasn’t like I had planned to do this 100% financing. That was just how it was happening. And while I was going through it when he stopped returning my calls when he stopped showing up and I was looking at how much money I spent. I did have headlights of like all this debt that I have what is going on because I’ve always been involved in the personal finance and I’d hadn’t had the switch that this is good debt yet. I was still feeling like a pressure all this debt that I had, but I was working and having a lot of bills I was able to make the payments. So I just felt like as long as I keep going like a finish I’ll be okay But when I got finished, and I had this loan that was 63,000, my payment on that loan was $300. And so when I got the rent, the rent I was gonna was a total of 1100. So I’m like this, even though as long as 63 only got to pay 300 of it, the rent is 1100 like this man, this, this is okay, this that is okay. So my first experience with it was positive. So I never had that stigma. And I did read books from Suze Orman, and other books that said that, but they mostly talked about credit card debt, I never really got the lesson that mortgages were bad. So that’s what I pretty much use. But even though credit card debt was bad, I still use credit cards to buy property because the interest rate was 0%. It’s almost like a credit card, but interest rate is zero, because the bad thing about credit is interest. And if you’re not paying 15% paying 0% I saw nothing wrong with that. And if I got that to buy a cash flowing property, it’s like, even less wrong. And then, um, you know, I discovered all types of loans with the hard money and construction loans and the business loans. That’s not on your personal credit, like no one knows, I have millions and loans right now, nobody, nobody asked us at the bank codes, I had this amount. So I can still apply for cars and houses for my own name. Because no one knows that I have it. And it’s like a tiny veneer. And because my tenant service it, actually government servers, it was Section Eight, I’m really not worried about I get paid automatically. And my payments go out automatically. So it does not bother me at all.

[00:11:31] Nicole Pendergrass:  Okay. All right. So why don’t you use 0% interest cards? So I know everyone thinks or has gotten cards in the mail with those types of offers in it. Have you ever almost not like So normally, it’s only 0% for like 12 to 18 months? So what are you doing to pay off that balance by the 12 to 18 months? Or have you ever gotten close to not being able to pay off that balance like

[00:12:00] Jhanel Wilson: So initially, when I was doing it before I knew about the birth strategy, I was just paying a high interest and just just using the rent to pay it down. But why discovered the birth strategy on my third property? When I had three FHA loans, I couldn’t get any more. And so what I did, I got a subject to and that’s when you assume the mortgages and the debts of a property and you just take over the mortgage, and then you pay a person like $1,000. So when I did that, and I got the mortgage papers, she was paying 27% interest. This was a subprime loan from back in, you know, 2007 with Countrywide, and her payments were $300. But $17 was going towards the principal. So I was like, I gotta get out as long I got I have to get out. So I called a friend who went to this seminar over the weekend. And he learned what, how they financed their deals with finance with commercial loans. So when I call them and I explained the situation, and he was like, Yes, no problem. And I’m like, It’s okay that I have these other FHA loans. So he was like, it’s cool. It’s not FHA, it’s not on this. It goes, it’s based on for the property. And so I refinance, and I cashed out and I was able to pay all those cards off, even the ones that I use that were 0% for a year. So I had a new strategy of buying these houses with credit cards, and then paying them off before the 12 months was was over. So I wasn’t paying any interest, you know, just the 3% fee up front. But I did get stuck in a project years later, I was doing five try flexes. And I always tell people to like, grow slowly. You have to respect the learning curve. And I had did like three triplexes in a year. I didn’t do them all at the same time. But um, I still felt like I was like, Oh, I felt indestructible. Like, I felt like I anything. I had my crew at a time I had my hard money lender, it was like, let’s go. So I was on five full gut renovations, with sprinklers with permits and plants. And it kicked out behind. So there were so many things I didn’t know. And so the project ran over two years. And so I was outside up all of my promotions. I was outside of my home depot, six months, no interest, 18 months, no interest. And for those of you who don’t know, when you have a Home Depot credit card and you go past the six months, the interest accrues on the back end, like you’re like, and if you don’t pay by the six months, they don’t all that interest on you. And it really hit me one day, when I opened up my Home Depot account and it was like you’re over your limit $2,500 I was like what I never got around them. And what happened was I got hit with a bunch of interest. And I got to a point where I was like, I had to do something and I want I want selling a house, which I never wanted to do. And like now now I know I would have just refinance that house got the cash and like pay things down. But yes, to answer your question, yes, I have gotten two points where I was outside of the promotion had to pay a bunch of interest But when I did finish the property, the properties, I was able to not only pay all those off, but I had another 100 grand leftover. And I’m actually about to refinance those again. And I’m probably going to take out 200,000. And that’s what me not doing any work again, like best like, this is like free money. Yeah, I did that one time. That one nightmare, that long, long nightmare.

[00:15:25] Nicole Pendergrass: Two year nightmare. Yes.

[00:15:28] Jhanel Wilson: I still, I still have five of my daughter, I still hate going over there. Because maybe after I refinance and get this money, I’ll feel better. But yeah, I’m about to refinance. You know, rates are lower than then when I first got it. 200,000 my payment is like going up just a little bit. And yeah, I’m gonna have this to I don’t even have plans for this money, which is nice. I mean, I’m sure I’ll find something to buy. But for the most part, yeah. It’s worth it. That was it.

[00:15:57] Nicole Pendergrass: Nice. Yeah. Cuz that was about say, like, yeah, you went through that two year nightmare. And you’re still here, and still investing in real estate and still actually flourishing. So it’s not easy, but it’s worth it. You have to just think about what your long term vision and goals are for that as a couple of things. You said, Oh, my goodness, you said so much. So you were able to refinance out of some early properties into commercial loans? You said, are those commercial properties?

[00:16:26] Jhanel Wilson:  No. So this is a common misconception that you can only use business loans or commercial loans on business properties. But no, you’re just using these properties as a business. So yes, they are single families, or two through two families, or three, four, and it can be commercial, like five or more. But yes, you can get a commercial loan a business loan on a single family home, because it’s generating income, it is a business.

[00:16:51] Nicole Pendergrass: Okay, so how do you find because I don’t, I don’t know if every bank will do that. But find the lenders that will allow you to get a commercial loan on a residence, like a residential, which is one to four units for anyone who doesn’t know, for residential property, how to get on commercial, how do you find those lenders.

[00:17:09] Jhanel Wilson: So I’m realizing that I have to break these lenders down because there’s different tiers, just like there’s different tiers of residential banks, you know, Chase, Bank of America, Wells Fargo, they’re like the top they got their rules are strict, you got to be the cream of the crop, straighten, narrowed to get to get these loans. And then there’s, there’s easier ones that really just want to approve, and then sell your loan. So a lot of people know about the commercial loans that are down here, they just, they want to get you approved, they don’t care what happens to you afterwards. So these are ones that you don’t want to use, unless you have bad credit, you’re in a bad situation. That’s all you can use. But for most part, you want to use the top tier lenders who have the best rates, who don’t change terms on who don’t call the loans for no reason. And those you find those base locally, those local banks, usually with a credit unions and find them at local real estate meetups, find them at meetups or on Facebook groups, and you have to go to different types of meetups like, go where different races are just to see like who would use them what, and then pull that together and figure out which one is best for you. So there’s different kinds. Yeah, just gonna. Go ahead. Yeah, yeah. And then you have to know what they look for and how to get qualified for them. So as I’m, as I’ve been coaching, I’m kind of learning what people what the struggles are, what the misconceptions are, and kind of how to how to fix so I had to have distinguish between the good ones, the prime ones, and the subprime ones. And if you have good, if you have good credit, you got a job, you’re professional, you can 100% go to the top tier one.

[00:18:56] Nicole Pendergrass: Okay, so talking about misconceptions, common misconceptions. One thing you mentioned earlier, and then I want to get into your thoughts on other common misconceptions. One thing you said earlier is you have three FHA loans. So people think FHA is first time homebuyers, because that is your own product that they, you know, promote to first time homebuyers, and it is a great way to get in. But you have three How did you do that?

[00:19:21] Jhanel Wilson: Because nobody checks anything. I mean, this world is so inefficient, and a lot of people may not think it over but you kind of get through things just by knowing that nobody checks anything.

[00:19:35] Nicole Pendergrass:

Okay, so you didn’t refinance out of the first FHA to get the second FHA.

[00:19:43] Jhanel Wilson: I moved into a safer neighborhood. And the third one I moved closer to my job. Ah, the fourth one, technically, I didn’t qualify, but I really could because the first two houses paid for more than my mortgage and I still had my work income And, but the way they calculate things, it’s just it just doesn’t make sense. Why didn’t qualify, which is why I was like, I gotta find another way because this just doesn’t make sense. But yeah, yeah, I have to read.

[00:20:10] Nicole Pendergrass:   Okay, so no excuses, guys. No excuses.

[00:20:15] Jhanel Wilson: 

All right, you want to look for the information?

[00:20:28] Nicole Pendergrass: Yeah, yeah, that’s the thing that we’re people, unfortunately get lazy is they don’t want to do that research and they want to get just handed to them.

[00:21:06] Jhanel Wilson: Yeah, they get discouraged to what they hear. They hear no and that was it. I was like, what? Why did you say why? Why is it a no. And then you gotta start networking people. When I started networking is when things started changing for me, like at first, my first three, I was in my little bubble, I didn’t know anyone. And I was talking to him. I didn’t know anyone that was investing any friends. I linked up with my realtor who actually bought the houses from him. And he started to introduce me to stuff like he taught me to LLC. And then I just started meeting people from them. But yeah, you have to network you have to, because people have information, they have different experiences. They know connections. So you have a network.

[00:21:27] Nicole Pendergrass:  Definitely I really agree with that, like networking is super key. That helped me a ton to just in my journey, knowing the right people being part of conversations that you don’t have regularly with like your normal friends and family. It just exposes you to things that you didn’t even realize were out there that you needed to know to grow right?

[00:21:53] Jhanel Wilson:  And being on Instagram, I’ve realized even more that I didn’t know, like I’ve grown so much in the years I’ve been on Instagram. Like I just got wonder a couple years ago, and I’ve been living in my little bubble of Philly and just the people here but be on the Instagram and I got inspired by like the random stuff. And then I got on there, I started meeting other great people. And we’ve been like, leveraging each other’s skills and information and just been growing even more.

[00:22:10] Nicole Pendergrass: Yeah, that’s insane. Okay, so I know I had mentioned common misconceptions, you said you come across students that have a lot of common misconceptions. What are some of those that might be useful for people to like, doesn’t make them think outside the box?

[00:22:10] Jhanel Wilson: 

A lot of people just think it’s a lot harder than it is. And I have as one student, she is like a serious overthinker. Like she has a whole list like a checklist of things that the House has to have. And she’s just she goes in and looks at the zoning. I’m like, why you got the zoning, such as single family house just kind of painted like, so it’s like she she’s an information overload. She’s been to like, all the whatever they call it. And so I think one misconception is that you need to have like, all this information to get started. And then you don’t know where to start talking like listen along with the cash flows. That’s all that matters. If the mortgage is 700, your needs to be 12. Okay, like, That’s it, you don’t. And then the other thing is that they get nervous by like, renovation problems. They think things are worse than they are like there was a stain from an old leak. And she was like, How do I fix that? And I was like, primer and paint. She’s like, Oh, I don’t have to take the whole thing that I know. So yeah, they just need to get there. So I always recommend that you just go in there to cosmetic and then you see how easy fix some things are, you know, some problems are bigger than the next but they think it’s a lot harder than it really is. And maybe once you kind of unlock that it’s not that bad. You kind of just start to just go.

[00:23:29] Nicole Pendergrass: Yeah, okay. Yeah, that makes sense. Analysis by paralysis can because you just in your your own head, and you’re in your own way. And sometimes procrastination is really is just fear. Yeah.

[00:23:43] Jhanel Wilson:  You know, who does that it’s people who don’t know anything about real estate. They’re telling them how bad it is. They’re telling them that tenants don’t pay, you have this problem. And oh, I had a run in the toilet and ruin my career. So it’s because there is like so many negative people and naysayers that scare you. And you don’t realize that you shouldn’t listen to them. You don’t listen to people who were not successful with it. You shouldn’t listen to people who are not investors. Go talk to an investor to see how to do it, though isn’t other people. So as soon as you can block those people out, and like don’t even tell them I mean, I went through my whole first like 10 years not telling people, a lot of people didn’t know, I wasn’t investing as much. Even people in my job that know. And it was because my first couple experiences I told my boyfriend about my dad’s house, I told my best friend about my dad’s house, and they were both like Ill Why are you buying a house that’s ugly? And so because I had no experience with them and hurt me, I didn’t tell anybody. So I didn’t have anyone to feed all this bad information to me. And I just I became my own free thinker.

[00:24:42] Nicole Pendergrass:  Yeah, yeah. And you know what that happened? I’m actually the opposite. Like I dug into the information and learning and networking and getting out there before I actually got my first property. Or even I did a Google investment first and then I got my own first property. So even when people had negative things to say So, like I had purchased a three family house hack, and I’m in the Bronx. And somebody who knows the Bronx, like I had just moved there. I didn’t really know I knew a certain areas but didn’t know it like that. And the first thing he said was like, Oh, why did you buy over there? And I’m like, ain’t you still renting? Why are you? Oh, that’s good. I mean, I didn’t say that to his face. I find it. But I got it. Yes. Because I told you. I bought that in 2015. So not that long, like seven years ago. I’m gonna hold him by now. Yeah, so I was in my early 30s.

[00:25:34] Jhanel Wilson:  Oh, you were probably older, that takes maturity to be able to do that.

[00:25:40] Nicole Pendergrass: I completely just got whatever you like. You still I mean, a lot of people still write and and there’s nothing wrong with still renting. But why not congratulate someone who’s purchasing something and getting out of the renting, especially when you’re purchasing something that’s gonna give you cash flow from tenants? Yeah, no, they don’t see that. And now, I already the very first day, I looked up what was going on in the area and there was already rezoning and city planning and changes. And I was right next to the only state park in the Bronx, like, so there’s a lot like that area does have history. But there’s a lot of development, the city’s putting information and like, resources to that area. And, you know, because we talk offline on social media, and I’m in the process of selling that property at like a substantial. So, and it’s not been that long. It’s been like seven years. I know, I know, you’re blind. So I have I have places to put that money into bigger and larger projects. I’m trying to scale on the currency side. Yeah.

[00:26:45] Jhanel Wilson: I think it’d be smart.

[00:26:47] Nicole Pendergrass: I promise. I’m trying to be smart with it. I’m not trying to go crazy. Okay. What are we talking about next? Okay.

[00:26:53] Jhanel Wilson: 

Well, we could go I mean, this is how it’s supposed to be right?

[00:26:57] Nicole Pendergrass: It’s just, it’s conversation. I just want to you know, hear about your story. So, alright, let’s fast forward to now. What does your portfolio look like? Do you have I know you said you have 150 units about so what is that comprised of? Is it mainly that residential one to four range or commercial side? What

[00:27:17] Jhanel Wilson: I haven’t is because I just know triplex so easily. When I got my first triplex I cashed out my first 100,000 Like the first one, the duplexes in Philly they appraised for so much lower but as soon as you hit a triplex, they appraise high so like a total renovated duplex at that time would appraise for like 100 or renovated triplex was so sorry, appraised for 300 So yes, I don’t know why they had that the bigger but big leap but um, so I started buying triplexes and you know, an area I was, they weren’t for sale, they were selling like the next town over and because of that they always had to use cash for the next town over so I was getting values from like, way too early. So because I learned that I just went ham on triplex and all of my area so a lot of my portfolio is triplex is not converted a lot of them to quads. So my portfolio is a lot of a two to four unit buildings. And I know I know there’s more money in commercial I feel like commercials like printing money. If I take what I know from residential and apply to commercial that goes so much further. But people just keep bringing me chocolates, because I know that’s what I buy.

[00:28:33] Nicole Pendergrass:  Yeah, yeah, well, why not? That’s your bread and butter. You’re doing it? Why not just keep doing that. On top of getting commercial? We should talk?

[00:28:44] Jhanel Wilson:  It’s because I lost my main contractor. So yeah, I’m still I’m still reeling from that that happened back in 2020. And it is hard finding like your contract or like your second marriage. I went through five contracts before I found him. And when I found them we both like just hit the ground running. But yeah, I found some backups but it’s just not him. So I don’t really want to buy anymore. I’ve only been buying on places where I already own houses and it’s just like alright home seven on the block Michael bodies to

[00:29:16] Nicole Pendergrass: Yeah, control. Yeah, comps, and the blog. Okay, with you saying that you have I think I saw one line that you posted about like a motel or Airbnb or something with short term rentals or you do short term rentals at all. You don’t do short term or whenever I see that.

[00:29:39] Jhanel Wilson: No, I do. I do all long term rentals. The short term rentals is fast money but it’s work just like working for it. I like to do my work upfront. I do my work upfront with finding cheap deals and doing the renovation and then it gets put on automatic automatic payments, the tenant stays forever. I don’t have to think about it. So it’s just upfront that I do my work.

[00:30:01] Nicole Pendergrass: 

Yeah. All right. I know another thing I guess I want to ask is you spent all this time all these years building up your portfolio, you have all these rentals, you have a certain amount of equity and net worth, I’m assuming. So how do you kind of protect that to pass it on in future generations? You know what I mean? Like, what, what kind of like structures or legalities or things that do you use to kind of make sure that it’s tax efficient, it’s avoiding, you know, like, all of that kind of stuff, like anything that will help when it’s getting past one.

[00:30:38] Jhanel Wilson:  It’s impossible to trust. I haven’t set that up yet. But that is on my agenda for this year. So trust, and I have life insurance policies. But my kids will be pretty set. I’m just focusing on breathing them, right. But the correct principles, showing them how to be self sufficient, how to think things through how to take control of their lives. And so I’m really just focusing on them and their values. But financially, I know that there’ll be fine.

[00:31:06] Nicole Pendergrass:  Yeah, yeah, it’s kind of I set up a trust is not officially legal yet, because I haven’t actually, like once it comes, you have to sign it and get it notarized and all that stuff. And I was just like, didn’t realize it was so much extra. And I’m like, oh my god, I gotta do this, too. So I thought I had like a milestone, but I really just have a big heavy expensive paperweight I was told. So to get it signed. Yeah, I think that’s probably one of my bigger thought processes is my kids are still young, they’re two and four. And so I want to learn, I want to teach them as they’re growing. So they have good values, because that’s the most important part to make sure that they’re not going to squander that wealth, and it’s get passed on. But I’m still like grasping for those ideas to control distribution until they get older, and I can see how they’re developing. And then I can kind of go back and change it a little bit. Because like if I unformed if I pass tomorrow or like knock on wood, you know what I mean?

[00:32:05] Jhanel Wilson: Like I want you have to get a trustee, you have to get a trustee, someone that who knows the business and knows what to do. And I think if you don’t have anyone I’m planning on training my older sister suite. I didn’t really think about this until I watched them that are your leisure with with Rick Ross. Yeah, his mom and his sister, they run his finances, like he knows nothing. Like one of first hearing him talk, like he like really knows nothing about his finances. And I was thinking myself, like, that is so dangerous. You cannot trust anyone. But then when I heard that it was his mom and his sister, I was like, oh, you know what, only people that I will trust because your mom, she, most moms, they want to protect you, they want the best for you. So not going to want to take your money. And then you got to take some balances with the sister and I’m like, I can definitely trust my sister, we have the same values. Yeah, so um, I just hired her, cuz I want to get her on board. So she can learn everything, I’m gonna make her a trustee. So if something happens to me, she’ll be able to run the business, she’s gonna get paid a pretty good salary. And make sure she teaches teaches the kids what to do. Like, she is strict and everything. So I think they will be fine.

[00:33:18] Nicole Pendergrass:  You know what, and that’s why on mine, my, my brother and my husband’s sister, they are the trustees, respectively, for either of us when we pass if you know the husband, if we both pass or whatever. But they don’t like they’re responsible, but they don’t know about investing in real estate. And that’s what my concern was like, how are they going to make the wise decisions? Because we can’t protect every three years in the future.

[00:33:46] Jhanel Wilson:So you got to bring them on, get them involved, teach them? Yeah.

[00:33:52] Nicole Pendergrass:  I think my brother has seen what I’m doing. And he has some point saying, oh, yeah, well, we want to get into that. At some point when they’re ready. Like they’re one of those we have to pay off our mortgage first. And

[00:34:03] Jhanel Wilson:  Oh, no, don’t waste money, especially with losing money. Yeah, they won’t listen to me. But okay. You got to show what the numbers show that show them a graph of what’s going to happen to the money when they putting all the money in paying off the house. And what would happen if it grows somewhere else? That’s what you have to do.

[00:34:25] Nicole Pendergrass: Yeah. Yeah. Okay. I need to work on that. Yeah. All right. Good. So last, any thoughts or anything you really want to impart to the listeners as far as getting started on the journey, you know, whether they’re working their W two or they’re looking for that next thing to kind of create extra income and how to elevate so they have choices.

[00:34:54] Jhanel Wilson: Probably have a couple of messages and my messages change, depending on who I’m around and things that I’m noticing. But when you’re transitioning from being a person who works, and to being a person who runs a business, your mindset has to change. A lot of times, we’re taught to save money, pay no money, do this free, do that free. But when you’re starting a business, you got to start paying for stuff you got to pay for this service with. So what I mean, don’t, don’t go serve as heavy, but don’t not do something. Because it costs money. Try to see what this investment because investment is what is going to make you in the future, you know, take it a step further, don’t just look at the cost, look at what it can do for you. So I think that is a big one, and really starting to learn about leveraging money, because it is making a huge difference in what’s happening with the network of people like I’m seeing it because I’m now one of the people who uses leverage. And it’s able to do so much more than people who don’t use it, like the wealth gap is definitely why the widening because people know how to use leverage. They’re advancing and people who waste money or don’t use it, they’re going to be further off, especially people who are smart, and they had 100% manage it, they could do so much further if they just learn it learn to invest, learn the money making skill, and be wealthy.

[00:36:12] Nicole Pendergrass: Yeah, you know what I just crap. I just remember, you had mentioned before that I had wanted to talk about was the whole you had a lot of money in debt, that or credit that was that no one knew about because it was on the business side. So we’re winding down. But I really want to touch on that really quick about how can people get into business credit and the other benefits of that?

[00:36:39] Jhanel Wilson:  Well, first of all, people think that um, business credit with real estate, it’s the same as with other businesses, like you do not have to build your credit for two years, you don’t have to get the DUNS number, it is not dependent on that at all is mostly dependent on the property, how much is worth, how much money it brings in, so I can get an LLC today and get a business loan on it tomorrow, because it’s guaranteed by the property, there is a personal guarantee. So you do have to be like financially responsible, because however you run your personal business is going to be how you run your small business. So, but yeah, you just have to learn how to spot a property that’s less than what it’s worth, know how to get it up and running and keep it running. And you can get loans all day long.

[00:37:23] Nicole Pendergrass:  People are you talking about like mortgage loans? Are you talking about loans that are just guaranteed by the property outside of the mortgage?

[00:37:30] Jhanel Wilson: They’re called commercial mortgages. 

[00:37:32] Nicole Pendergrass:  So that’s the ones that are not okay. So yes, I have that as as well. Okay. Good. So everyone, reach out to Jhanel, if you have more questions about how it is works, and using debt to grow your portfolios, and how you can do it wisely. I know she’s been working on some things behind the scenes, and I was actually gonna give you that opportunity to give your information anyway.

[00:39:05] Nicole Pendergrass: I have two questions to ask you. And then we’ll you can tell people how to contact you. So these are questions that I ask every guest. And the first one is Warren Buffett said that diversification is protection against ignorance. What does that mean to you? Is diversification good? Or is divorce specialization? Better? Like what?

[00:39:31] Jhanel Wilson: I feel like diversification is for idiots and I know that’s not like a nice thing is really for if you don’t if you don’t study what you’re investing in, most people don’t do. They don’t want to tell you that they don’t want to be they want to follow the trend. And usually when you find out it’s too late. So if you’re not going to study a company that you invest in, if you’re not going to study an area if you’re not going to study real estate, yes. Just do the s&p 500

[00:39:55] Nicole Pendergrass: Yep. Okay. I like that. And that’s very, very true as well. You’re diversifying because you don’t really know. Yeah, you’re trying to hedge risk because you don’t know about.

[00:40:06] Jhanel Wilson: And because I know real estate so well, like that is all I have done. And people are like, you can’t just do real estate by yourself. I’m like, why not? I’m a master and I know real estate so well. It’s just like numbers. To me, it’s a number that’s like game, it’s a game to me, I don’t even see the dollar sign. And we’re just numbers. And because I have mastered it, you learn so many skills. Whenever you’re mastering one thing, you learn so many skills on your way up, then you start to, then you start to go into seven streams, you know, the whole seven stream thing, it drives me up a wall on Instagram, because it distracts people, people think they had to do so many different things I want I know, these aren’t distractions, focus on one thing, because anything can make money, anything, you just got to focus on it and learn it and master it. So if you spread yourself thin, I’ll have courses off a real estate, stocks or options, or what Bitcoin, whatever it is, you’re not going to be able to master because you’re you’re, you’re spreading your learning cells amongst everything, put all learning styles into one thing and master that. And then once you’ve reached the top of that, you take all everything you learned because you learn real estate investing, I have learned marketing, I have learned how important banks are and leverage and relationships, I’ve learned. So many things I see, oh, I’ve learned how to talk how to target my audience, which I didn’t realize it until I saw an Instagram. So it’s like, because I have learned all sorts of real estate, I can take this knowledge and transfer it to so many other things. So right now, I’ve transferred it enforced creation and coaching. I had a group of a group of friends, we were all trying to get together and learn the coaching thing. We’ve been working on it for a year. I’m the only one who has like, made it as far as I’ve made the furthest. But it’s because I’ve mastered real estate and applying all the things I’ve learned to in the course world. But yeah, learn one thing first and then start to leverage, leverage other people’s information and experiences. And then awesome to have seven strains.

[00:42:05] Nicole Pendergrass:  Yeah, it’s like a laser beam versus a flashlight. Laser beam is much more effective at one thing, and then you can later decide to spread out. Okay, next question. Will you talk about games so, you know, you played Monopoly before? Okay, in Monopoly, Baltic or boardwalk, and why?

[00:42:25] Jhanel Wilson:

Well, you know, I started from the bottom. So I’m at Baltic all day long, and I will work my way up, it is the best way to go. That learning curve, if you hit hit, hit boardwalk and you don’t have the money to support or do this and that you will be selling all the hotels. You got to work your way up.

[00:42:43] Nicole Pendergrass:  All right, cool. Um, thank you so much. This was great conversation. How can people get in touch with you if they want to reach out?

[00:42:51] Jhanel Wilson: And the easiest way is probably to send me an email at jhane@thesavvyrei.com or if you’re on Instagram, Jhanel J-H-A-N-E-L Wilson, and I put all my tender drama or contract or stuff I share my wins my losses. Everything is just going on Instagram. So it’s like a reality show.

[00:43:13] Nicole Pendergrass: It is really you guys should follow her. She’s very transparent. I learned a lot from her. Thank you again so much. This has been fantastic. We will have the links to those your email and Instagram in the show notes. And bye, everyone. Thank you for joining. That’s the wrap.