Episode No. 71

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Episode No. 71

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SHOW NOTES

Welcome back to the Share the Wealth Show! In today’s episode, we welcome back Avriel DuVerney as she continues to impart her invaluable insights.In this conversation, we will unravel the secrets behind successful property rehab projects, where precision in selecting contractors meets the art of fostering unwavering loyalty within your construction team.

Property rehabbing isn’t merely about transforming structures; it’s a harmonious blend of vetting the right professionals to do the job and ensuring they are committed to the project’s success. These two pillars, contractor vetting, and building team loyalty, are the cornerstones of thriving in the competitive world of property rehabilitation.

Join us as we explore the intricacies of these essential practices that will empower you to rehab like a true boss!


Avriel DuVerney is the real estate visionary on the path to redefine generational wealth for investors. As a 20-year veteran, now highly recognized real estate investor, Avriel owns Stone 2 Stone Solutions, Inc., a real estate business solutions and property management agency that specializes in driving revenue growth and increasing market share through strategic analysis, partnerships, acquisition/retention, and cost development.

On a mission to make real estate investing accessible to all, Avriel is leading the way in providing top tier education and coaching to new and rising investors. With her own fast-growing portfolio of properties, Avriel to date has been influential in securing and flipping over $2.6M in real estate. As the Conference host and the investing guru behind the new real estate investing course, Sidelines to Success – she will personally teach, coach, and support the new generation of real estate investors.

 

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Take our survey: https://s.surveyplanet.com/c1xu5qdv 

 

Brand name of electrical panel Nicole mentioned you should look out for during property inspections – Primarily Federal Pacific Breakers but also  look out for Zinsco and Challenger electrical panels

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Key Quotes:

 

“Wealth means the freedom to be able to do what I want to do. Wealth is not just the monetary side of it, but wealth is time and freedom.” – Avriel DuVerney

 

“I do think that diversification is important. I’m always trying to find something to diversify my portfolio, but I wanna make sure that they all make sense and they all can co-mingle together.” – Avriel DuVerney

 

Connect with Avriel!

You can find her on

Linkedin https://www.linkedin.com/in/avrielduverney/ 

Facebook https://www.facebook.com/avriel.duverney 

Instagram https://instagram.com/avriel4ev 

Or Visit her website :https://s2ssolutionsinc.com/ 

 

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Let’s get connected! 

You can find Nicole on 

LinkedIn https://www.linkedin.com/in/nicole-pendergrass/

Instagram https://www.instagram.com/nvestornikki/?hl=en

Facebook https://www.facebook.com/nvestornikki

or Visit her website https://noirvestholdings.com 

 

Transcript

[00:00:00 – 00:01:30]

Nicole Pendergrass: I’ve been chatting for a long time because we’ve got so much gems and things to unearth here. But if somebody is looking to buy a building, like they’re looking at a five unit or a 10 or whatever they’re looking to do, and they’re doing a walkthrough, maybe they’re newer in the game, maybe they have some smaller, maybe they’ve bought their own single family house, the one that they live in kind of thing.

When they’re looking around and looking at the, everyone can see the inside of like an apartment and see what they like or don’t like. You can tell kind of conditions and stuff that might need to be refixed or whatever. But it’s the big system items that are like behind the walls and in the basement and in the ground and those kinds of things that a lot of people don’t know how to analyze the state or the quality of that and what the lifespan is, like should it be replaced soon and…

I think that’s a big ticket item that could stretch a lot of people off guard. So when you’re walking units and you’re looking at these big system items, are there any red flags? Like I know I’ve heard, like if there’s a certain electrical panel name, you know that’s from this decade and those are notoriously bad. Or if your pipes are made out of a certain material, that’s probably gonna end up being an issue. So have the pipe scoped and all this stuff. So,

What are some of those red flag type of major systems that you should, if you see that name or see that type that you should watch out for?

 

[00:01:31 – 00:02:49]

Avriel DuVerney: So for the first thing, I’m always like, anytime I go to an asset, I’m getting on top of the roof, right? People like, you’re getting on top of the roof. Yeah, I’m getting on top of the roof. Walk the roof, right? So I’m bringing a roofer with me. So we’re walking this asset. So we’re looking for…

Um, things that, cause we have a lot of hail damage, but we have a lot of hail here, so we have a lot of hail damage. And so some of those units that we were walking because the way that the, how the unit sit, they’re like separating. So we walked one like big lone thing of the units. There was no hail damage. We got on the other one and hail damage. I mean, the hail tore up. That’s one of the things that we look for.

Um, I always bring a plum. I always bring all of the major, um, the major players out. So your plumbers, your roofers, your HVAC guys, and your electrician, I always walk with them because the other stuff we can do is causing almost cosmetic stuff, but ticket items, I always bring those guys with me, the ones that are master electrician, master plumbers, I bring those guys with me, because I want to make sure that I’m giving them the quote, the people that have hired me to do the project management, I’m giving them a quote that’s reasonable and a quote that’s true to what they really need.

 

[00:02:50 – 00:04:03]

Avriel DuVerney: So we have a plumber come out there and they’ll run a scope, right? So a lot of people are like, “how do you get plumbers?” I built relationships with these guys, right? And I’d be like, “Hey, this is gonna be a deal that we’re probably gonna take down. So I need you to meet me at 123 Main Street.” So we’re running scope just to see if there’s anything. And in that 22 unit, we ran the scope in for the drains. And so there were a lot of things that we found, like some of the pipes were broken, right? So they wouldn’t have known this. I mean, they would have found it on their due diligence, but why go into the due diligence period and there’s pipe to be broken? So you can have that conversation prior to going into due diligence.

So the guy that was buying it, he was like, see, this is why I hired you. Cause we would have never thought to do this. Like we would have done this on our due diligence. We would have never did this prior. Right, but we also had to get approval from the seller to do it because you know sometimes the seller be like no you can do that on due diligence I want you doing that just submit the LOI and then after you do that, then you know you can get that.

But we had to I wanted to I wanted them to agree, because if we could find these problems prior to enter into a contract with them, we can it gave us negotiation power, right?

 

[00:04:04 – 00:05:33]

Avriel DuVerney: And so we thought we found some cracks, so we had a conversation with them. Of course, the electrical panel needed to be updated. So that was a no brainer. The electrician, he looked at a couple of them and they had already told us that there were previous fires. So we kind of knew that there probably was electrical problems. So it wasn’t, I mean, it wasn’t anything that was shocking or surprising to us.

And then the HVAC, it wasn’t much for the HVAC cause they had already replaced the HVAC like three years ago. So it wasn’t much other than cleaning the ducts and going in and doing just like regular maintenance and stuff on it.

But just building their relationships with the sellers prior to this, before you even go into the due diligence. And so the seller did ask me, he was like, “Where did you come from? Like I get anybody prior to, you know, submitting LOIs or anything and you just came in here, you’re just sweet talk me. And now you got me to agree into all of this stuff”. I was like, “I want to make sure I’m taking care of my people.” And he was like, slick.

But he was so sweet. He was a 78 year old. He’s a 78 year old man. When he’s really, really nice. And he was never had anybody sweet talk me into letting somebody do this on my property prior to due diligence. Now you want to be negotiating price down and everything. I said, “But there’s some cracks out there. So I mean, would you want somebody doing this to you?”.  And he was like, “Yeah, I agree. But you know, I’m old. I didn’t know it was gonna be cracks at that”. I said, “I know you did. This is why this is why this is why I’m here.”

 

[00:05:34 – 00:06:57]

Nicole Pendergrass: So you know what? Oh no, go ahead. Finish.

 

Avriel DuVerney: No. So that’s why I was going to say those are some of the major things, everything else we can work with. Right. So, but yeah, those are the things that I really and truly look for.

 

Nicole Pendergrass: Okay. So no, and that that makes perfect sense. And so I have never heard of that either. Most of the time people will go through, put their LOI, make assumptions, like they’ll do a walkthrough, like before an LOI, but normally you’re not scoping lines at that point. Like you might, you know, look visually to see what you can see. Maybe if you look at the electrical panel and it’s a certain like brand name or something. And I don’t even remember what that one is, but I think I have it written down somewhere. I’ll put that in the show notes, but a certain brand name that you know that that is like known notoriously in the past for using like the wrong kind of wiring or just before the updated code.

So if you see that, which is something you can see with your eye, then you know; like if you’re knowledgeable enough that that is probably electrical might be a problem. So you can factor that into your budget. But things like scope and lines, you wouldn’t know that until you’re in the due diligence phase. The problem is with that, if you’re waiting until that point to do it, well, so one, you might get resistance from some sellers who don’t want you to do that upfront. And especially if it’s a hot market like it was the last couple of years, then… you’re gonna lose out on a lot of bids if you’re trying to do that before the due diligence period.

 

[00:06:58 – 00:07:53]

Nicole Pendergrass: But the problem is if you do it after during due diligence and you find these issues, now you gotta go back and retrade. And retrading is frowned upon, right? And retrading means that you’re going back and you offered $100,000 and you gotta go back and say, “All right, now I can give you 60 because we found XYZ problems.” But it’s kind of like an expectation for you to know or budget for XYZ problems in your… offer.

But how can you budget for some unknown things like that in your offer? Like you just have to be super conservative. If you’re super conservative, you could also lose out on deals when it’s a hop. So it’s all a balancing act. You is better safe than sorry. So be conservative with your numbers. But kind of be real as if you can, if you can, I think it’s super impressive that you just organized a group of four or five people to be able to go to a building on the same day and time to do a walkthrough.

 

[00:07:54 – 00:08:46]

Nicole Pendergrass: Because I know, or trying to get three or more people, even two people just to even do a Zoom call. It’s like everybody got 50 million things to do and you can’t coordinate no time. And so now you’re getting all these contractors to come out at the same time to do a walkthrough in a building. But like you said, it’s relationships and it’s building that up.

How do you do that if like, it’s your first one? Like let’s say you haven’t bought a building yet. And you, maybe you know the importance of building your team. So you’ve been having calls with people and starting to try to build relationships, but you’re not proven yet, right? So how can you still convince the appropriate people to come out to do a walkthrough? Cause then they could do a walkthrough and not an offer on the building and not get it, but are they gonna walk through with you on every building? Cause you can be walking through a lot before you finally get an offer submitted where you actually get that project. You know what I mean? How do you mitigate that?

 

[00:08:47 – 00:10:07]

Avriel DuVerney: So I think for me, I love building relationship, right? So I have honest conversations. These are the hard conversations that we have with contractors or trades. And I let them know that, “hey, there are going to be opportunities that are going to come on and we may not get all of them. But when I need you to walk a building, I want you to be available for us to walk the building, right? So I’ll pay for gas, I’ll pay for lunch.

“And of course, if we get the deal, you will actually get the job. But I need to be able to rely on you because now I’m building up the pipeline for these deals to come through. And once these deals start coming through, we’re gonna be really, really busy.” So just conveying to them that, “hey, every deal we may not get, but if I can rely on you to show up, I wanna pay for gas, I’m gonna pay for food, I’m even gonna pay for you actually walking this with me.”

And so they’ll be like, “okay, Avriel, I mean, we, we know that, you know, you’re doing real estate deals and we see you out here”, but again, this is the importance of people being able to see that you’re doing something. So it may not be on this asset, but it may be on another asset, as long as they know that you can close a deal. If a deal comes in and the numbers make sense, as long as they know that you can close, and I think that’s why my guys have been so faithful to me, because we walked a couple of deals that we didn’t close anything.

 

[00:10:08 – 00:11:05]

Avriel DuVerney: And then we started getting deals in and they were like, “you kept your word. We walked all of those before, but you kept your word. As soon as we walked this one and they say, hey, we’re gonna close on it, you kept your word. Hey, you’re hired for this.” And so I think just building relationships, checking in on them, even if you don’t have anything, I check in on my guys and say, “Hey, let’s meet for lunch. Let’s catch up to see what’s going on.” So I’m always reaching out, we call them, so I’m always reaching out and touching them. “Hey, what’s going on with the family? What do you got going on new?”

You want to walk this project with me I’m going down here and ‘m doing this and I’m doing that so just staying engaged with the team just to let them know I’m still thinking about you we don’t have anything right now, but I’m still thinking about you. And I want you to know that as soon as I get something you want to be the first person I call so it’s just building, building those relationships.

 

Nicole Pendergrass: I love that so do you have backups let’s say, like you have a plumber we need a one or two backups how many backups do you have for each trade.

 

Avriel DuVerney:  Three.

 

Nicole Pendergrass: So you build relationships with all of them.

 

Avriel DuVerney:  Yes.

 

[00:11:06 – 00:11:57]

Nicole Pendergrass: What if the third tier like he’s, he’s on the bench and third, third in line on the bench but he’s never getting the deal like do you rotate them just so they all feel like they’re getting some love or do you stay with your top guy?

Avriel DuVerney:  So I’m always rotating them and then, when people come on and they want to JV with me I’m using them on other teams to right and always they are always doing something they’re always busy.

So now they know that, “Hey, Avriel is gonna rotate us. So I may not be working on Avriel, but I might be on Keith’s job. And if I’m not, I may be on Amy’s job.” So I have relationships where the teams or the people that I work with, everybody always has something going on. So if I’m not doing something, I can give Raphael to Keith, right? And so if I’m not, and then Keith not doing something, I can get Raphael to Amy. So we have so much stuff that’s going on that they’re always busy.

 

[00:11:58 – 00:13:08]

Avriel DuVerney:  So anytime that I call, any one of them will pick up the phone. “Hey, what do you have for me?” Right? So even if I’m on the job and I’ll be like, “Hey, Raphael, are you on the job?” Cause I call Raphael a lot. “Hey Raphael, you on the job?” And he was like, “Yeah, I’m on a job, Avriel, I’m on a job, but I can send my son Victor”, and he’ll send his son Victor. Victor’s on his way. I was like, Okay. But then before with them, they now want to actually have their kids come in and Victor will come and meet me at a job.

Like I want to say Thursday or Friday, I was walking a deal in Dallas. And so I call Rafael and I said, “Hey, Rafael, I know that I know y’all are working in because we have a flipping park of heights. Know you’re working in harker Heights, but I got a deal in Dallas. Do you think that you can meet me.” He’s like, “No, but I’m gonna send Victor.” Victor call me. “Hey, I’ll meet you at the house at nine o’clock.” So anytime that I call any of my guys. They’re always there, but it’s because I’m always looking for work for them.

So, if it’s not my project and maybe Keith, Amy, it may be Quincy’s. I mean, it could be anybody’s job. People that I’ve worked with, then I’ll allow them to go and work on their sites. But if it’s not people I hadn’t worked with, I don’t usually let my guys go. Because I don’t know if they’re gonna take care of them like I take care of them.

[00:13:09 – 00:14:37]

Nicole Pendergrass: Yeah, okay. So I think, so that was the one comment I was gonna make, that that’s very like just growth and abundance mindset, that you’re sharing your guys with other people’s team.

But I do understand you still wanting to protect them and making sure you’re only referring or sending them to people that you know are gonna treat them the way you would treat them. So you don’t ruin that relationship like cause you refer them like, “why would Avriel refer me to this crack head over here?” Like who’s not, you know, not paying and doing all that. You know what, last thing, oh my goodness, I just got in a whole other brain thing.

Contracts with contractors. Like how, what kind of, I have had my share of dealing with contractors who say, promise the world and then don’t deliver, right? But how do you set up either some kind of an agreement for a payment schedule, like punch list or, and a punch list is the finalized list of all the products like all the things that are supposed to be done and you walk through and make sure that everything is done.

So they call that a punch list, but how do you make sure that when the value like incentives are aligned when it comes to getting a project done on time and on budget? Like what do you put in your contracts to kind of stipulate like encourage the contractors to still finish on time and finish on budget?

 

[00:14:38 – 00:15:28]

Avriel DuVerney:  Yes, so my contractors get dinged for stuff that they’re not supposed to be doing or if they’re late. If something is out of their control, then we have a talk about it, right? So say for instance, my contractor called me, Raphael called me and said, “Hey, Avriel, I’m running late this morning, won’t be at site until 10 o’clock.” Okay, Raphael. So the first time it’ll slide, right? If this is a constant thing, they start getting deemed for being late, right?

If I had an infraction on my site, if there is an inspection that happens and I fail, then they get deemed, right? So it could be $500, it could be $1,000 that they get deemed for. But if I fail an inspection, because that inspection now keeps me from moving forward and getting this project to the finish line, they get deemed for that.

 

[00:15:29 – 00:16:15]

Avriel DuVerney:  But now, if Raphael and them gets me all passed, they give me all green tags, and I’m still on the move, and I’m still getting the project moved the way that it’s supposed to be moved, then they get awarded for that. They get more than that, right?

So it is a give and take with them. So you have to let contractors know this is still my site, right, and you still wanna do what you’re supposed to do. You got hired to do a job. And so inside of my contract that my attorney writes up, they get deemed for things, they get rewarded for other things that they may do. So it’s good to have contracts in place and it’s good to have conversations with them to let them know upfront, “Hey, this is what I expect of you. This is what’s gonna happen if you don’t comply. And this is what happens if you do what you’re supposed to do.”

[00:16:16 – 00:17:39]

Avriel DuVerney: So I also have contractors say, Raphael is the lead on this. If Raphael falls off, then Victor comes on, which is his son, right? Victor owns his own company also. So both of them own, they own separate companies, but they work together sometime. So if Raphael falls off, Victor comes on. And if Victor falls off, then I may have a Keith’s team come on.

So it just depends on what we have going on in the flow of everything. But it doesn’t matter what happens to my contractors. I always have another set of contractors that can pick up. So there’s no delays, there’s no work stoppages. And so a lot of times when people have mishaps at a site, they’d be like, “oh, I got a work stoppage” or “my contractors walked off and I don’t have anybody.” Now you have to go out there and look for other contractors. This is why it’s so important to have at least two or three contractors in the pipeline. Cause if one falls off, you can actually still pick up with another one.

And I don’t pay them until the work is done. So my PM walks it on Friday there I expect pictures I expect videos and so whatever phase we’re in if that phase is not completed on that Friday they don’t get paid. So you gotta work to complete you don’t get paid by starting a project you get paid by working complete.

 

Nicole Pendergrass: By the work you complete. So yes, every project has a different phase and then that phrase is supposed to be done in a certain timeframe and now you can pay based on that phase and now it goes to the next so how many phases do a project normally have.

 

[00:17:40 – 00:19:04]

Avriel DuVerney: So it just depends on the size of the house. So if I have a house is say 1800 square feet, then each phase could take about two and a half, three weeks.

 

Nicole Pendergrass: Okay. Okay. Great. So that makes sense. Cause I’ve heard a lot about paying contractors, like a third upfront, a third when a certain amount of like predetermined items are done. And then the final third, once you finalize the last punch list walkthrough. So you’re shaking your head no. So you don’t do thirds. Oh. Yes, it’s a smaller where you do a smaller breakdown than thirds.

 

Avriel DuVerney: So what I do is that they have to be able to float the project so to get the project started, you have to be able to use your own money your own materials to get this up and then. Right, so when we first take on a deal by call Raphael say “Hey Raphael, you all can start demo” you like “Okay, can you get the dumpster” The only thing that I will order for them is the dumpster right so the dumpster.

But the demo on tearing out stuff and then replacing everything to get started, like with the framing and all of that, they’re responsible for that. So I only work with contractors that can float projects. So if you can’t float a project for two or three weeks, I don’t want to work with you because that means that there’s something financially that I need to be careful about. And so I’m not giving you any money up front because you can take my Project. So you can float a project for three weeks, then there’s somebody that I want to work with. But if you can’t float a project for three weeks, I’m not interested.

 

[00:19:05 – 00:19:57]

Nicole Pendergrass: Ooh, that’s a major vetting gem right there. You gotta float your own project. Like you just gotta have the finances. Like I have gone, I have hired a contractor who didn’t have a car and you know, talks to the best game and how good he is and all this stuff, a great talker. And I’d go drive 30 minutes out the way to pick him up, take him to the house.

Then he can either get a friend to pick him up or I have to go drive him back. And I’ve been doing that a couple of times. I was like, “what the hell am I doing? Like, I’m not doing this no more. Like you gotta have your own transportation. I’m not driving you all around. Like this is crazy.” And then he ended up, you know, gifting me and not even finishing up a job. Like, and I don’t even think, like I didn’t give him the final amount, but I gave him enough up like in between to that he could just not finish what he was supposed to. Okay.

 

[00:19:58 – 00:21:06]

Nicole Pendergrass: That’s my worries and woes. Okay, tell us about, because all the information you shared so far and all just the mindset and the tips and the type of contractor to look for, what should be in your contract, all that stuff, that’s super valuable just in this one conversation. But I know you mentioned your coaching program. So what does that look like?

Because I feel like that’s super valuable for people who are at least wanna learn the contracting and project management side of things so that when they start buying multifamilies or whatever else that they, whatever real estate they’re looking for, they can have that as a framework to use for value-add projects. So what’s your coaching look like?

 

Avriel DuVerney: So, yeah, I have different tiers of coaching programs. And so, you know, the one, if you don’t know anything about real estate, so you’re just getting started, you’re a newbie, and you wanna learn because some of the, the lingo that I use sometimes and people like, “what does that mean? Like, what is GC?” It’s general contractor, right? So if you’re interested in learning just about real estate to see if this is something that you’ll be interested in, we have that tier.

 

[00:21:07 – 00:22:24]

Avriel DuVerney: And then we have a tier where we’re taking you through a flip. So from start to finish, I have my business attorney that comes on. She told, she showed you how to do the structuring of your entity. I have a CPA that comes on that tells you all of the tax advantages that you have. The things of how your books and stuff, your bookkeeping should look. I have my trademark attorney that comes on. And the reason that I added my trademark attorney was because people will see you start making money and then they will start to try to take your likeness and use it. And it creates confusion in the marketplace. So I had to send a season to sister, someone that was trying to use my likeness. So I have my trademark attorney, she’s coming in and she’s teaching you about the asset protection part of it and the branding part of it, as you start to build and you start to get momentum in the marketplace.

And then we’ll go through the flip. So I introduce you to the title companies that I use. Most of them are nationwide. So it doesn’t matter if you’re flipping in Chicago, you can use Chicago title. If you’re flipping in St. Louis, you still can use Chicago title because Chicago title is nationwide. And so I try to work with companies that are nationwide. So if I’m teaching someone in another state, they wouldn’t have the confusion because now they speak the same language at the title company.

 

[00:22:25 – 00:23:41]

Avriel DuVerney: In the attorney office, they have partnerships that are nationwide. So, if you work with us, we have my attorney that reaches out to other attorneys and say, “hey, I have an individual that is in Avriel’s coaching program. We need you to take care of them for all of their closings or whatever.” So we have that relationship.

And then I teach you from A to Z about the flipping, building relationships with contractors. How to vet contractors, how to vet your project manager, how to question them, the insurance that you need to look for. So we go through all of that.

And then you have a project management course where it teaches you all about the management of the asset. So you may not want the fixed inflip. You may just want to do project management. You’re like, “Avriel, I don’t want to do fixed inflip. I just want to do project management. I want to manage people’s project.” So, then I have a project management course.

And so… I’m creating also what I call my VIP days where there are VIP days with a real so you get to spend a you get to spend a day or weekend or week with me, depending on which package you select. And we go through everything if you want me to build out your course I bring my team I bring my capital we go looking for deals. Um, we build out everything for you so depending on what you want we’re trying to service you.

 

[00:23:42 – 00:25:11]

Avriel DuVerney: And a level of excellence because when I came in, I wanted to see more women right I have nothing to get all but I want to see more women in the field, and so my mission is to go out and create a whole bunch of Avriels in the world, so we dominate when it comes to the project management and the fix and flip so when they see when they see in the call they be like, “oh yeah that’s a, that’s that’s part of Avriel’s team right there.” in the field.

So, those are things that I have coming down the pipeline still working on packaging all of my one on ones up, which are my larger packages were my walk on my VIP days, but the other we have access to those now, and so those are the coaching packages.

 

Nicole Pendergrass: Nice so you’ll definitely have to send me information about if people are interested, like how do they find out more information if there’s like a website, they should go to or a call they should schedule. So whatever that is, we will have that in the show notes as well.

But oh my gosh, this has been, oh my God, I feel like there’s no way, and guys, even if no matter what aspect of real estate that you are looking to do, if you wanna do fix and flips, if you wanna do buy and holds, but if you’re looking at any kind of value add type of proposition, which can be a flip or a hold, because when you’re holding real estate, you can just, you can do all the rehab that’s necessary and then you can refinance, cause now you push the value up and now you can pull your equity back out and use that to go buy another one.

 

[00:25:12 – 00:26:51]

Nicole Pendergrass: So that’s another strategy in how to grow your portfolio. So you can, you know, take it either way. You can flip single family, you can flip multifamilies, like you can keep them. So you just got to figure out what works for you, but the rehab and knowing the systems and knowing even if you like just doing unit turns, like what needs to be fixed in the unit when you’re repositioning it between tenants.

Like all of that is very crucial across the board, no matter what your strategy is. So I think this information and coaching program would be just useful for anybody looking to get into real estate and to have more of a foothold and stronghold into the construction or project management side of real estate and using that as a value creation. So I love it.

So right now we’re actually going to transition to the final segment. So my people know that I always say, this is the final segment that I talk about with every guest. And I always want a name for the segment. And I never have a name for it. I’m like, “Oh, what am I gonna call this thing?” And I asked for suggestions. And so someone, a good friend, and my Sororan line sister, Thea Stewart. Thea, I’m giving you your shout out, hey.

Thea gave me a couple of names and ideas and I like, “Digest with the Guest” because our guests are always dropping so many nuggets and so many more souls that you need to like just chew on it and really savor it savor the information, so I love that so welcome to Digest with the Guests for the first time.

 

[00:26:52 – 00:28:18]

Nicole Pendergrass:  Now, um first question. Warren Buffett said that “Diversification is protection against ignorance.” What do you take that to mean? And is that a good thing or not?

 

Avriel DuVerney: So I think the diversification is very good. So when I retired, I wanted to make sure that I diversified my portfolio. So I started with a little bit of stocks as I was fixing it with me. And so I love Warren Buffett because I listen to some of the, you know, the things when he does interviews and stuff, and just listening to how he diversified his portfolio. So I do think that diversification is important. I’m always trying to find something to diversify my portfolio, but I want to make sure that they all make sense and they all can co-mingle together. So I want to go out here and do real estate and sell hair and sell candles. And I just want to make sure that if I’m diversifying my portfolio, that everything almost co-mingles together.

So, if I’m doing project management, I can do fix and flip, or I can do Airbnb. So everything that I’m doing that’s diversified inside of my portfolio is centered around real estate. So, the coaching, the project management, the contracting. So yes, I definitely agree with that.

 

[00:28:19 – 00:29:24]

Nicole Pendergrass:  Oh, I love that too. Cause it’s like basically making sure things are vertically integrated. So if you want it to open a title, your own title company, you could do that. You know, that would just go with the is diversified, but it goes, it fits with everything else. I love that. Um, have you played Monopoly before?

 

Avriel DuVerney: I have.

 

Nicole Pendergrass:  Okay. Um, in the game of Monopoly boardwalk versus Baltic, what’s your first purchase or your strategy to win the game?

 

Avriel DuVerney: Torn on that one. Boardwalk.

 

Nicole Pendergrass:  Boardwalk? Okay, why?

 

Avriel DuVerney: And I think boardwalk, remembering playing the game of Monopoly, the boardwalk, I think for me, it was a little more opportunity on the boardwalk for me. It made me really, really think about the moves that I was going to make and the things that I was going to buy on the boardwalk. So I think that’s why I wanna stick with boardwalk.

 

[00:29:25 – 00:30:42]

Nicole Pendergrass: Okay, sounds good. What does wealth mean to you?

 

Avriel DuVerney: Wealth means the freedom to be able to do what I need to do. So it’s giving me time freedom. So wealth is not just the monetary side of it, but wealth is time freedom. I get to spend more time with my mother. I get to do the things that I enjoy to do. I enjoy doing.

I can take time off throughout the day just to go to the lake and just sit at the lake and sit with God meditate talk to Him. So wealth is not just monetary for me, but wealth is time for me also. So that’s what wealth means to me, and just being able to do what I want to do.

 

Nicole Pendergrass: Yeah, it’s the freedom I love that that’s exactly what wealth means to me to just I want to live life on my terms right. Okay.

Another section, what I’ve been doing is I asked the previous guest a question for the next guest. So it’s not ever going to be on, you know, any information that you have ahead of time, but in any case, so the previous guest’s name is Savannah. She asked, “How do you use your community to build wealth?”

 

[00:30:43 – 00:32:22]

Avriel DuVerney: “How do I use my community to build wealth?” So I do a couple of things in my community. So in my community, we have this program at the police station and it’s called Colleen Police Cadets. And so I go there, we do ride alongs with the police officers. I normally take food to the police officer. So I may do lunch. I may do dinner, I may do just a, just thinking of you card to each one of the officers. I also go to the hospitals and I normally visit the wards that kids that are fighting for cancer. And I go and I give their family a break while I sit there with their kids, just for them to go and maybe take a hot shower, to grab a hot meal.

 And for me, I think, that’s giving back and a lot of people will be like, “Hey, you know, this wasn’t monetary, but it was enough to make me feel like I’m grateful and I’m wealthy because you have given me the freedom to do what I needed to do while still not worrying about what’s going on with my child.” And even the police officer is like, “Hey, just for somebody giving back to us, it just, it makes us feel like we’re appreciated and welcome”, so.

That’s what I do in the community. I don’t know if it’s really wealth building in the community, but that’s my support of showing how I care. And so I plan on doing more in the future as it relates to giving back. Yeah, that’s what I do right now.

 

[00:32:23 – 00:32:53]

Nicole Pendergrass: No, but I still love that because it may not be wealth building in a traditional sense of like money wealth, but wealth is a variety of things for different people. And that’s where the question, what does wealth mean to you? Because it’s not always about the money and for most people it’s not. It’s about the support. So you giving wealth and appreciation and support and mindset and that kind of thing. So I love that. All right.

Second to last question. What is your question for the next guest?

 

 

[00:32:54 – 00:34:08]

Avriel DuVerney: “What is my question to the next guest?” Let’s see. My question to the next guest.

 

Nicole Pendergrass:  You can have a little time to think about it. I can have my VA cut out the thinking period. We had to do that with Savannah too. So Sarah, we’re gonna cut out this thinking period, okay?

 

Avriel DuVerney: Yeah, cause I’m trying to think what would be my question to them because mine will probably be centered around “what’s the best business practice that you can give to someone that may be just starting on their entrepreneur journey that wants to take that leap, but they’re afraid. What advice would you give them?”

 

Nicole Pendergrass:  So what’s the best advice?

 

Avriel DuVerney: Would you give someone that wants to take a leap of faith in the entrepreneur journey, but they just don’t know how?

 

Nicole Pendergrass:  Okay. I like it. That’s a great. That’s a great question. Yeah, this is so exciting. Thank you again.

 

Avriel DuVerney: No problem.

 

[00:34:09 – 00:36:43]

Nicole Pendergrass:  Um, you know, the listeners, um, and I are very grateful for the information that you shared with us today. And for you even just coming on and spending time. We’re super, super grateful. There’s so many gems and nuggets that we have to still digest after we finish listening. Make sure you take all your notes and you use this information and draw from that when you start applying it and looking for your, your next real estate purchase.

So how can people get in touch with you and if they want to connect with you or follow you social media like where where should they go.

 

Avriel DuVerney: Oh across all social media is going to be Avriel DuVerney. Um, so it’s, it’s my name spelled out on Facebook. Um, on Instagram is Avriel the number four E V (@avriel4ev). On TikTok is the same, Avriel the number four E V (@avriel4ev). And then on LinkedIn is my name, Avriel DuVerney. So that’s where they can find me if they are looking for me.

 

Nicole Pendergrass:  Yay. Okay. And we will have all the links to social media in the show notes. Um, because if I close my eyes right now, I would not spell your name, right? I have to look at that thing.

But anyway, we will have all the links in the show notes and people, please go click the show notes and get to her socials and follow her and whatever else you need to do to give information. And just I know she shares a ton of value on social media so please, if this has been a great episode for you you’ve learned a lot you’ve gotten all of the gems and more souls right. Do a subscribe.

I wanted to say, I wanted to say smash the like button because my kids watch YouTube way too much, but this is on YouTube too. So smash that like button, right? And then also rate and review us on Apple podcasts or wherever else you listen to us in your platform, whatever your social media platform is.

So thank you. That just helps us get this message and get what everyone else shared with us out to everybody. So, or to more people, right?

Anyway, comment, like, subscribe, wherever you look, looking, listening, watching, wherever you, wherever that’s happening. Do that so we can grow and share the wealth with more people and we can all prosper together. And I’ll see you at the next show. Thank you again for coming. Thank you.

Avriel DuVerney:  Thank you.

 

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