Episode No. 98

Land, Lending & Legacy: Why This Investor Prefers Dirt & Paper Over Rooftops with Demetriah Webster

Listen To The Podcast On

Your Favourite Platform

Episode No. 98

           Listen To The Podcast On

            Your Favourite Platform

SHOW NOTES

In this episode of the Share the Wealth Show, we continue to explore a wide array of topics with Demetriah Webster, from land investing to private lending. Demetria shares her journey into active real estate investing and offers invaluable insights for aspiring investors.

🌍 Land Investing: Demetriah highlights the appeal of land as an asset class due to its low maintenance and potential for appreciation.

⚙️ Streamlining Operations: She discusses outsourcing tasks and building systems to make her business operations more efficient.

💵 Private Lending: Demetriah explains her approach to private lending, providing financing for various real estate transactions, including wholesale deals, note purchases, and subject-to acquisitions.

📊 Diversification: Emphasizing the importance of diversification in investment strategies to minimize risk.

🏆 Wealth Perspective: Demetriah shares her perspective on wealth, focusing on the freedom it provides to pursue her passions.

📚 Key Takeaways: Patience, strategic decision-making, and continuous learning are underscored as vital elements in achieving financial success in real estate.

 

🌟 Tune in to gain expert tips, proven strategies, and insider knowledge to elevate your real estate investing game. Whether you’re a novice or a pro, there’s something for everyone in this episode! 🎧

 

After graduating with a degree in Engineering and Project Management, and working in senior leadership roles in the aerospace industry for over 20 years, Demetriah Webster set her sights on real estate investing full time.

Demetriah had a passion for real estate since she purchased her first new construction home in 2000.  In the early years of her career in the aerospace industry, she bought and managed her own investment properties. In 2014, she founded G Harvest Homes, Inc. in Hartford, CT  after starting the Fortune Builders real estate education program.  She has since purchased rehab and rental properties in various regions across the country. In 2016, Demetriah relocated to Hercules, CA where she continues to expand her business and soar to new heights with land acquisitions, triple net commercial leasing and private lending. 

Demetriah enjoys spending time with her family, wine tasting, shopping, and traveling internationally. She is also a licensed Realtor in California. 

.

 

________________________________

 

Interested in investing in small multifamily? Learn more about The Microfamily Mavericks mentorship program here:

https://noirvestholdings.kartra.com/page/microfamilymavericks 

 

Check out our podcast website!

Thesharethewealthshow.com     

 

Want to leave feedback or suggestions on our show?

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

 

________________________________

 

Key Quotes:

“Take small calculated risks and then grow from there.”

  • Demetriah Webster

 

Connect with Demetriah Webster!

You can find her on

Website: https://www.gharvesthomes.com/  

  https://cherrywoodloop.com/

Instagram:gharvesthomes

Email:  info@gharvesthomes.com

hello@thelandgals.com

hello@cherrywoodloop.com

 

___________________________________________

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 – 00:00:40] – Demetriah Webster (gharvesthomes.com)

I’ve learned the importance of documenting processes and tweaking where things aren’t working, but managing what we call key process indicators. So, knowing a KPI could be how many leads did you seek out? How many mailers? How many text messages? How many phone calls did you make to generate leads? And then from there, how many people responded to those strategies for lead generation? And then from there, how many offers did you make as part of the acquisition process? Were you able to acquire the property based on that offer?

 

[00:00:41 – 00:01:38] – Intro

Welcome to the Share the Wealth Show, where minority professionals can learn to escape the racial wealth gap and catapult themselves into abundance. Your host, Nicole Pendergrass, grew her net worth from being negative to multiple six figures. Join her on her investigative mission to expose secret strategies of the wealthy so we can all have the tools needed to build the life and legacy we were created to possess. Now it’s time for the show.

Hey guys! So, we’re back again, this is the second part of the episode with today’s guests. I need you if you have not heard part 1, go back to the previous episode, and listen to that first and then come back and join us here today. You need to hear the whole conversation so why we split into two parts. There’s so many nuggets is so juicy. Go back and listen to the first part!

 

[00:01:39 – 00:02:16] – Nicole Pendergrass (Noirvest Holdings)

What attracted you who want to buy land, especially when land is not initially cash flow. Like, it’s something that is more of an appreciation play, but you have to either improve upon the land, like build on it, develop it or flip it, like wholesale it or there’s so many other strategies. can make money with land, but it’s not going to cash flow out the game. Like, it’s actually… actually an expense because you have to pay like the taxes and whatever else on it. So, what exposed you, how to get exposed to land as a business opportunity and what attracted you to it?

 

[00:02:17 – 00:04:01] – Demetriah Webster (gharvesthomes.com)

Yeah, so I wanted an active investing stream versus passive. So, I think all the other right? So flipping is an active investment strategy, right? I was doing a lot of buying and holding all this time. So, you know what, it gives an active investing strategy too? But I, but I had, I had, okay, so we kind of skipped the story, but I still then outsourced the property management side. So, it wasn’t quite as active as it was initially.

I learned a value of outsourcing to people who do this for a living, right? and so, Anyway, yes. So, I started to outsource. So, I wanted another active student income. I tried wholesaling houses. just wasn’t for me. I’ll just put it that way. know there are people who are very successful in doing that. And I learned about land online. I joined a group called I learned how to buy and hold. They basically learned how to teach you how to flip. So I did that and the reason why I thought it was a great asset class was because I didn’t have to deal with residents on the property. It’s making it land, right? You don’t have a tenant. You don’t have any overflowing toilets.

 

[00:04:01 – 00:04:09] – Nicole Pendergrass (Noirvest Holdings)

You don’t have any slopes. Well, depending on what land. And it could have a mountain on there. But ain’t nobody for all the slope if they shouldn’t be there.

 

[00:04:10 – 00:06:13] – Demetriah Webster (gharvesthomes.com)

Exactly. That’s trespassing. So that was the beauty of it. And what I didn’t have to do was go out. So, when you wholesale a house, for instance, someone has to go out and assess the condition of the house and make sure that you’re paying the right money amount for it and understand market value.

Well, I can do all of that from my office with vacant land. I don’t have to go out and see it. I have gone out and seen some of the properties that I invested in. But you don’t have to go and inspect it. You can hire people to go out and survey and make sure they’re doing the perk tests if there’s going to be a residential development that needs septic.

You want to understand what utilities the property has accessed. to easements? Is it landlocked? Is there access, legal access to the lot? There are lots of questions that you can answer by doing research, calling the county zoning departments, looking through legal like deeds and documents on easements in right of ways.

These are things that you can do from anywhere. And so, I thought, you mean I don’t have to go to the property, you mean I don’t have to hire someone to truly be like boots on the ground? Hmm, tell me more. And so that’s when I got into it. I’m just like, whoa, this is great. And there are some people out there who are tired, they might have inherited land and they’re tired of getting the tax bill.

They’re tired of what have you. And so that’s when an investor like me comes in and says, hey, I’ll take it off your hands. And sometimes I hold it, sometimes I flip it. And yeah, that’s how that started.

 

[00:06:14 – 00:06:57] – Nicole Pendergrass (Noirvest Holdings)

Right, okay. There’s so much there were saying so much terminology there. I like I’ve heard the terms before don’t know nothing about what they mean because I’m not in the layup business. And I don’t want you to go through and explain all of that. Like that’s the value of going out and getting that education.

you can really fine tune your information and in a particular asset class. you’re interested in a particular asset class; you should go and find source to learn as much as you can about that asset class. And that’s what you said. You bought from Land Builders. International Land Profit Generators. Oh, Land Profit Generator is the name of the course. Demetri took if you guys are interested in land. Do you, we’re throwing their name out there. I didn’t say if you actually recommend that or not.

 

[00:06:58 – 00:07:30] – Demetriah Webster (gharvesthomes.com)

I do wholeheartedly. It’s an amazing education program. Coaching. accountability partnership, it’s a great education tool. It even provides a CRM tool to help manage the data and going through strategies for lead generation. I really appreciate the guidance and education that this program has provided me.

 

[00:07:31 – 00:07:36] – Nicole Pendergrass (Noirvest Holdings)

Okay. And I believe I also know you are pretty good with systems, right? Were you creating systems?

 

[00:07:37 – 00:10:50] – Demetriah Webster (gharvesthomes.com)

Yeah, and it’s just from learning from those who have done it, right? I guess from my background and my work experience, I’ve learned the importance of documenting processes and tweaking where things aren’t working, but managing what we call key process indicators. So, knowing a KPI could be how many leads did you seek out? How many mailers? How many text messages? How many phone calls did you make to generate leads? And then from there, how many people responded to those strategies for lead generation? And then from there, how many offers did you make as part of the acquisition process? Were you able to acquire the property based on that offer? And then on the disposition side, it’s okay, how are you marketing the property? How many leads are you getting from those marketing strategies, whether it’s through a land website where I can put my listings out there or you’re using a realtor or Facebook marketplace?

At that’s another place we could go into, Craig’s list, anyway. lead generation for selling, and then how many responses from that, and then how those responses are converting into actual sales, and that’s the disposition process.

So, these are all sets that you can monitor to see where the gaps are. So, if you’re not getting a lot of leads and responses, you look back to, on your acquisition side, you look back to, well, did I send out enough, you know, direct mail? I send out enough text messages that I send out enough coal calls to figure out how to feed the funnel. And so yeah, that’s been the approach. I also have a virtual assistant who helps me as well. And that’s when I really thought, okay, I gotta document this. if the process, if I want someone to help me, who has never done this before. So, I recorded videos on, you know, my screenshots and, you know, doing clicking through various applications to pull data and to generate documents, etc. So that’s how I started to really get the systems in place. Are they perfect? No, no, I need to continue to work on that. And I think that’s just part of the continuous improvement, right? And getting better and better every time. But having your standard operating procedures is a really good foundation for any business, alone land.

 

[00:10:51 – 00:12:31] – Ad1

Looking to build wealth with real estate? Are you all tapped out on YouTube University and ready to help tailor to your specific situation and goals? Have you always known that you’re a little different from the crowd, that you never liked following the status quo, and that you’re just tired of living in mediocrity? You want to build wealth on your own terms outside of Wall Street? Well, you know, then maybe the MicroFamily Mavericks Mentorship Program can help with that. It’s a community where a handhold process of buying your first small commercial multifamily building. Because not everyone is ready for 100 units out the gate. Why multifamily? Because it gives your rental income ahead against vacancy. Imagine what happens when your single family rental tenant leaves, right? And why commercial five plus units? Because you have much more control over increasing the building’s value in the commercial space and then in turn, increasing your own net worth. Starting small is a stepping stone to so much more. Because then you can tap that equity and buy another building and another and another. And you get the point. So increasing your cashflow and your ability to be job optional along the way, it’s all a part of the journey. So if you think big, but you wanna start small, and if you know multifamily real estate is a way for you to open the door to building a life of freedom, abundance and legacy, but you just need someone to guide you step by step. And you want to be surrounded by other people on the same journey, doing the same thing. Then just click the link in the show notes to find out a little bit more about the Michael family Mavericks. And I look forward to potentially seeing you on the inside. So now back to the show.

 

[00:12:32 – 00:13:37] – Nicole Pendergrass (Noirvest Holdings)

Yeah. Okay. just very quickly, can you give a snapshot of what your process looks like? is it like? And not it doesn’t have to be super detailed, but Just like a general idea, like you have the VA, is that the only VA that you have, helping you, you have more than one, that I have one, but I have other, I’ll say, applications that I use to manage.

okay. Yeah, you can give people like an overview, because if they are interested, they can see how complicated your business model and your system is for finding land, if some people think like, oh, it has some big, big production, I need this much people, I need this much money per month to implement this, and I’m you know what mean? So, it turns people off because they don’t know what it actually entails. So, I want just to hear from someone who’s doing it, what does that system even look like how simple or complicated it is, to give people an idea?

 

[00:13:38 – 00:14:00] – Demetriah Webster (gharvesthomes.com)

It’s a simple blueprint, however, the execution process is what makes it challenging. because you just have to follow up. I remind myself all the time I follow up. So the beginning is lead generation. So it can be through direct mail, texting, phone calls, or maybe other means website.

 

[00:14:01 – 00:14:04] – Nicole Pendergrass (Noirvest Holdings)

That’s what you do? or what’s your lead generation?

 

[00:14:05 – 00:15:33] – Demetriah Webster (gharvesthomes.com)

My mainly direct mail for me. I do direct mail and text messaging. Okay. For the most part.

So, then I have a call center that answers my calls. So, they have a script on the information that they need to record in my CRM tool where I’m keeping track of all this information, whether it’s the properties that I found, owners that I found, and then people who are calling in to provide more.

So, there are, there’s a list of questions that they asked to understand. who owns the property, let’s make sure we have that together, know, do they have a price in line as to how much they want to sell it for, you know, things like that.

So, there’s that. And then there’s the market value analysis. doing that calculation and looking at comps, it’s just like going on to realtor.com or Zillow and finding out how much properties have sold for in the area, finding comparables. So, using that information to establish your market value and then deciding what your offer’s going be. So, there’s that. And then there’s negotiations, right? There’s that. Then getting it under contract. So, then you could either decide that you want to purchase it or wholesale it.

 

[00:15:34 – 00:15:42] – Nicole Pendergrass (Noirvest Holdings)

And what part of those processes are you actually involved in? Because I know all of them. We all love outside.

 

[00:15:43 – 00:16:25] – Demetriah Webster (gharvesthomes.com)

I do have help. You know, I don’t want to go through all this, but I want to, I have been getting through, you know, each of the steps. I don’t want to belabor it too much. But yeah, I have assistance who review my data. They’re helping me send out mailers. They’re doing comp analysis and, you know, that, okay, okay, and then I make the decisions on, you know, offer amounts and how we’re going to proceed.

That’s not to make it so complicated, but yes, there are steps in where I have a VA doing work, and then they provide it to me or he provides it to me, one person right now, to make decisions and then going on to the next step.

 

[00:16:26 – 00:16:35] – Nicole Pendergrass (Noirvest Holdings)

Okay, so what is the biggest land deal you’ve done so far? Did you hold it, did you flip it, wholesale it, like,

 

[00:16:36 – 00:17:46] – Demetriah Webster (gharvesthomes.com)

Yeah, so the biggest deal that I’ve done, I actually have a lot of partial subdivisions in Alabama. That’s my biggest to date. I decided to hold it and I wanted to develop it. I may decide to flip it later if it gets too complicated. I have not ever developed raw land before, not even entitled land, meaning that the streets and some of the infrastructure is already there.

So, it’s pretty scary and doing it from here. I’m in California. It’s challenging. So, we’ll see how far I go. I’ve been talking. have, you know, builders. I talked to about it and going through the permitting process and setting it up. But I may just find another developer or builder who wants to take it forward. But if I can, I will do it myself. It’s like 30. 30 lots.

 

[00:17:47 – 00:17:49] – Nicole Pendergrass (Noirvest Holdings)

30 lots. How many acres is that 30 lots?

 

[00:17:50 – 00:17:55] – Demetriah Webster (gharvesthomes.com)

Roughly 30. Let’s see. It’s like 40, 40 acres.

 

[00:17:56 – 00:18:08] – Nicole Pendergrass (Noirvest Holdings)

Oh, okay. Cool. All right. And if you were to develop, so you’re, or they pre-approved plans for what can be developed there, as far as like zoning, or you could develop anything you want.

 

[00:18:09 – 00:18:27] – Demetriah Webster (gharvesthomes.com)

Oh, no, this. So, it’s part of a subdivision. Um, and there is a homeowner’s association for the properties that have, the lots that have been developed. And the association has restricted this to single family residential properties.

 

[00:18:28 – 00:19:05] – Nicole Pendergrass (Noirvest Holdings)

Oh, okay. So, you basically would be developing, you said 30 lots of you to be developing 30 single family homes, if you decide to move forward with it. Um, and then you would basically selling off each of the individual homes and getting your profit over time. Once all 30 homes are sold, potential profit, I’m sure you’ve done the numbers on it.

How much potential profit would you get if you decide to get everything developed? once all the homes are sold versus if you decide to just flip the land, how much profit would you get from that?

 

[00:19:06 – 00:19:20] – Demetriah Webster (gharvesthomes.com)

Yeah, a half a million if you develop everything. And if you flip it, how much would you get flipping it? If I flipped it, it’s about $250.

 

[00:19:21 – 00:19:52] – Nicole Pendergrass (Noirvest Holdings)

Okay, so either way, you get a good amount of profit from doing the work, or not doing the work. Or not. If you just flip it, you get less, but it’s less headache and stress going through that process and you probably get that money up front faster than it takes to develop everything and get it. off all the homes. So that would really be for like the experience to get that under your belt. So now you can take that one to bigger projects.

 

[00:19:53 – 00:20:16] – Demetriah Webster (gharvesthomes.com)

Right. And so, you know that’s what I’m just weighing right now is the option of do I do I want the 250 now or do I wait you know a year or two and get the 750 right it’s um and that year or two that year could be a very long year.

 

[00:20:17 – 00:20:50] – Ad2

Are you enjoying this episode? Then stop what you’re doing right now. Head over to Apple podcasts and leave us a rating and review. It really helps our show get pushed to more people who are looking for the information that we’re sharing here. We have to share the wealth. If you listen to us on YouTube, make sure you like the episode that you’re listening to right now and subscribe to our channel, then share the channel with somebody else. There are people out there looking for the information you’re listening to right now. So, make sure you share it with someone who you know needs it. Now back to the show.

 

 

 

[00:20:51 – 00:21:14] – Demetriah Webster (gharvesthomes.com)

Oh, a lot of learning which is good. I just um I’m not sure yet. I’m not sure. I would almost I would actually just prefer to just you know flip it and use those proceeds to do pry them on lending.

 

[00:21:15 – 00:22:24] – Nicole Pendergrass (Noirvest Holdings)

Hmm yes you know that’s a great segue because that was the next, I’ll just add there that I’m thinking if I was in a similar situation, having that decision to make whether I just want to flip it or actually with the experience of going through the process, I think it really, for people out there listening, it really depends on what your long-term goals are, right?

I think if you want to become a bigger developer and develop bigger projects over time, then it would be probably more prudent for you to go ahead and go through the process to learn that stuff and learn, like, when Demetri was doing that, that house metabolization on the slope, like, she learned so much from that, like, yes, it was a hard process, I’m sure you got extra gray hairs from that, but, and that will happen with this development process, too, it’ll just par for the core, but you have to go through those things that hard in order to learn and become effective for the next level of hard, because each level is going to be an introduction of new things you never experienced before, but at least you have some of that foundation there and you can take move that forward with the next step.

 

[00:22:25 – 00:23:37] – Demetriah Webster (gharvesthomes.com)

Yeah, but I think the biggest lesson I would share with those who are trying to do something new in the real estate space is to start small. As they say, you know, get a few base hits under your belt, and then take on the home runs. I know some of us are in that go big or go home mentality. I know I was there, but sometimes going big will take you home in ways you don’t want to go home.

Right, so I feel this is a huge undertaking for me. I think I could probably do better in buying a single lot and building a house, as one house on the lot to get my feet wet before taking on a project as large as this. Yeah, so it really depends on your team, your network, people who are within your network who can help you, who have experience, but my advice would be to try to do the base hits first.

 

 

 

[00:23:38 – 00:24:44] – Nicole Pendergrass (Noirvest Holdings)

Yeah. No, I agree. I agree with that 100%. Actually, I did not pay Demetria to say the go bigger home. Go home thing. It’s like, you know, it’s not necessarily true, but I’m going to just plug it in right here. That’s why I started micro family Mavericks to teach people how to start with small multifamily instead of going after a hundred-unit building, like Demetria says she’s part of syndications, but I’m assuming that that’s a passive investor in those syndications.

She’s not the active GP. So, there’s two different ways to get involved with syndications. you want to be active on the general partnership side, normally. If you’re new, you’re not starting with 100 units, you’re starting with helping somebody else with their 100 units. And then you get as much smaller piece of the pie and you don’t get as much experience.

I’m sorry, I’m very passionate about this. just think starting with small multi-family gets your feet wet and is palatable and it’s easier for people to get started and you can still make a lot of money to help with that next level in your portfolio. So I’ll leave that there.

 

[00:24:45 – 00:25:29] – Demetriah Webster (gharvesthomes.com)

Yeah, I could not agree with you more. Like, you can, that’s the risk, right? When we go too big and we don’t know what we’re doing, that’s when investments become high risk. If you start small and you make a few mistakes then you can overcome them a whole lot easier with a four or five- or six-unit multi-family. For example, then if you got into a 100, 150-unit property that you know. own. Nothing about as far as managing it, improving it, and yeah, so that I agree with you.

 

[00:25:30 – 00:26:08] – Nicole Pendergrass (Noirvest Holdings)

Thank you. All right. Private London, we’re gonna do that quick. So, I got to get to my final questions. Oh, okay. My bad. Oh, no, no, you’re good. I do from the beginning. Then I tell y’all from the beginning this was gonna be a long episode. I knew this was gonna be a multi episode situation here. So, with your private lending, do you have like, what’s your requirements for who you lend to, what asset classes you lend on, what’s the game plan there for you as far as like, if someone wanted to approach you with a private lending opportunity, what would it take for it to be in your lending bucket?

 

[00:26:09 – 00:28:16] – Demetriah Webster (gharvesthomes.com)

Yeah, I, I look at proper transactional funding. So, say, there’s a whole. sale deal and the investor who has worked with a property owner who is trying to sell it to another owner doesn’t have the down payment funds to get through the transaction. I will lend and that typically that transaction takes place in a matter of a day or two. So, I can lend there.

I’ve also blended on notes. So okay, if a property, and this is on vacant land by the way, I have not ventured into actual residential or commercial properties for this particular investment strategy. So, say there’s someone who has already purchased a property and there’s a loan or a note or a mortgage on that property. They put a down payment in, now they’re making monthly payments to fulfill that loan. The person who sold the property and owns the note can now sell that to someone like me. And so, I’ll buy it and then I’ll collect the interest on the payments that the previous owner has set.

So, I’m basically earning interest. It’s just like the banks. This is what they do. When you apply for a loan, you get the loan, you’re paying the loan, they’ll sell it. usually bundle them because they have millions of loans or whatever. They’ll bundle them and sell them to a third party. And so, you’re continuing to make your payments, but the funds are going to a different party. so that’s what I’m doing. It’s basically being like a bank.

 

[00:28:17 – 00:30:05] – Nicole Pendergrass (Noirvest Holdings)

Nice. That’s people if you’ve ever had your mortgage company send you notification that you no longer are sending your payment to them, You’re sending it to XYZ new bank or the blue lending institution That’s what happened that new bank bought your loan from the previous bank It’s so now you’re paying the interest of them and normally you buy at a slight discount because you still have a certain amount of Term left on loan a certain interest rate bubble block.

So, there’s a lot that goes behind that have dabbled into learning a little bit about a whole like buying Forming or non-performing notes and that kind of thing. So I understand how that works, but that’s great like and that’s a way to When your plate is full with I guess a lot of other things happening you have after capital That’s a way to still make your capital make more interest than you what you would get in a bank But without you having to do any because any maintenance or management is not like having residence It’s almost the same as like having land.

see you just pulling back from having tenants and residents in your You And your management responsibilities like you can outsource the tenant and management and anything else like I’m just I’m getting interested or I’m dealing with asset classes that don’t have a resident component that I need to figure out. That’s right.

Um, we didn’t talk about the main thing I wanted to talk about this whole time. Oh my gosh. Geez Louise I want to spend a whole 40 minutes just on that. Oh, my goodness. Okay. What am I doing? I’m looking right now. I almost wanted to have make you come back on to do a separate episode just on the triple net lease situation. Would you be down for that?

 

[00:30:06 – 00:30:53] – Demetriah Webster (gharvesthomes.com)

Yeah, I could do it, but I’ll just give you a quick teeter. Now that right there that that strategy right there. Now that’s like mailbox money. We’re the part that the. Tenant is covering everything from three big taxes to their taking care of the property.

There’s no involvement there. It’s incredible if you have the opportunity to get into a triple net lease, ground lease type of arrangement, um, especially with a national tenant that has the financial backing. It’s, uh, pretty awesome.

 

[00:30:54 – 00:34:14] – Nicole Pendergrass (Noirvest Holdings)

Oh my God. Okay. I was, I was really on the version like, nah, we got to just bang this out right now. We’re going to cover it real quick, but I do not want to rush this part of it. I do not want to rush it. Like we have to bring you back on. I’m sorry. right, we’re going to reschedule to bring you back on so that we could talk about this triple net lease fast food restaurant situation because I’m still so and I want to dig into this into like every little detail like our first call like I those same questions I wish we had had that first call recorded because I just need to Okay, never mind. All right.

We don’t get that. Okay, another time. That’s fine So much that we had to talk about and I don’t know how I let that get by to the end. Okay. right, everyone I’m sorry, but y’all have to listen for the third because I know this is gonna be at least two episodes We got to listen to the third episode to meet you coming back again to talk about this next mailbox money like Literally everyone talks about mailbox money.

The only way you’re getting mailbox money not if you’re a landlord Even when you have property management or made a proper management company outsource. You still are involved Right; you still have to make decisions. still have to correspond with the property management company You still like this still is not as hands-on.

You’re not getting calls about toilets in the middle of the night but dealing with property management does not mean you are hands off and it’s not it doesn’t mean it’s 100 passive and then the only other way is if you are a limited partner in the syndication, which we discussed Demetia does as well, then that way that’s also mail box money, right, or like direct deposit money, whatever you want to call it.

Because the active operators handle all the active activities for the property. This is the one other thing that is not, you got to put a little bit of upfront work. But once you buy that building and you get it, that’s literally those leases with commercial tenants are like 10 to 15, 20 years. That’s right.

So, you get it and that’s literally 10 years minimum of you not doing nothing but getting your. All right, you know, I’m like, do whatever you need to do to standardize the building, whatever I don’t care what you do to it. I’m so excited. I’m so upset that we did not. Oh, guys, I’m so sorry about that. Okay.

So, we’re do now we are going to go into the last section of this episode with digest with the guests, which is the last few questions that I asked every guest on each episode because I call it digest with the guests.

Thank you, Theo Stewart, one of my listeners who gave me the name of that segment because I was asking y’all for a while for the name of the segment and nobody was giving me no information. I got a couple, but Theo’s was brain. I love it because the guests normally give so much juicy morsels of information.

We got to take time to digest it all. I’m like really get it to settle in our system and know, you know, so we can really get the nutrients from the information that they gave us, right? All right. Maybe I’m a little obese sometimes, but that’s okay.’all love it. All right. Warren Buffett said diversification is protection against ignorance. Kind of take that to mean that basically people diversify because they don’t know what they’re doing. But what is your take on that? that a good or bad thing?

 

[00:34:15 – 00:34:54] – Demetriah Webster (gharvesthomes.com)

I think it’s a good thing because you may not know what risks are associated with a certain type of real estate investment. And if you diversify with different asset classes or different ways that you’re investing, then you’re minimizing your risk. Rather than putting all your money into a single project or a single asset class in the same geographical location, you’re protecting yourself from things that you don’t know. And that’s the ignorance part.

 

[00:34:55 – 00:35:43] – Nicole Pendergrass (Noirvest Holdings)

No, that’s good. I think I like how you just threw in in the same geographical location. Just I’ll pinpoint that the people don’t, it doesn’t go over their head. mean, it’s like you can be in the same asset class and still diversify in the same asset class, but it could be because you are diversified geographically.

have properties over here in like a Midwest market as known for cash loans. stabilization, you could have properties in a Eastern Coast market that’s known for high appreciation. But you know what I mean? So, there’s different ways and even like seasonality, you know, if that if you’re doing short term rentals or midterm rentals or whatever, like there’s a lot of other strategy to do within the same asset class.

So, you can diversify that way as to. So, I just want to point that out. But thank you for that. In the game of Monopoly, you played Monopoly before, right?

 

[00:35:44 – 00:35:46] – Demetriah Webster (gharvesthomes.com)

Okay, a few times only.

 

[00:35:47 – 00:36:02] – Nicole Pendergrass (Noirvest Holdings)

Okay, but as long as you even have played a few like, you know, basic concept, right? So, boardwalk is the least or the most expensive property and ball take is the least expensive property. In that game, which one are you buying first?

 

[00:36:03 – 00:36:39] – Demetriah Webster (gharvesthomes.com)

you had a choice and why? I think my strategy, well, my strategy versus St. Charles plays when I play Monopoly, because that’s the one I think, statistically, you land on that one more, you know, one rather square on the on the block on the board big after a day.

But anyway, yeah. I go for Baltic. Yeah, I like those low rent areas if I can put houses on them because for a while. Yeah, okay It’s upscale. It’s got high rent if someone lands on it but it’s expensive to develop and that’s where the money comes in right when you can put the hotels and the hotels on there Yeah, that’s what I’m trying to do Okay.

 

[00:36:40 – 00:36:45] – Nicole Pendergrass (Noirvest Holdings)

Okay, love it. Love it. Um, what does wealth mean to you?

 

[00:36:46 – 00:37:16] – Demetriah Webster (gharvesthomes.com)

Wealth to me means freedom. It means spending my time on things that I You know a value and cherish My family my friend It gives me the opportunity to travel um and not restrict myself or even try new business ventures, you know and taking more risks so there’s freedom associated with that.

 

[00:37:17 – 00:38:16] – Nicole Pendergrass (Noirvest Holdings)

I love that like that That’s basically what it means for me to everything else like, you know, what’s that thing where you asked the you asked 40 Why do I all the way down to like the base level of like what the true reason is and that’s basically What it would boil down to me is freedom. So, I completely agree with you there

Okay, we asked each guest to create a question for the next guest Right, so as you can roll over a question in your head for the next guest, I will ask you the question that the last guest Ask for the next one. Okay, it can be business personal funny series. It doesn’t matter It doesn’t have to be you know share the well Joe criteria kind of thing So the last guest which is Nikki G She asked what is the most creative financing strategy that you’ve used to buy property?

 

[00:38:17 – 00:39:01] – Demetriah Webster (gharvesthomes.com)

Oh, that’s one area that I think I need to work on, but Creative strategy, uh It might have been Mm-hmm. -hmm. I’m so traditional basically finding investors to partner with me on projects that I may not have the funds to cover myself or even Want to spend them. Oh, I will say I have done a subject to so the quieter property by taking over an existing mortgage. I think that’s probably the most creative. Yeah.

 

[00:39:02 – 00:39:04] – Nicole Pendergrass (Noirvest Holdings)

Oh, it went what property was that one?

 

[00:39:05 – 00:39:21] – Demetriah Webster (gharvesthomes.com)

I won’t say it’s in the south Specifically, but uh, yeah, it was something that I took over and there was a need there to um Acquire the project before it went into foreclosure. I’ll just put it on the line.

 

[00:39:22 – 00:39:38] – Nicole Pendergrass (Noirvest Holdings)

Okay, okay, that’s very creative. And the first thing that I popped into my mind is like the whole project, the triple net lease restaurant that we go talk about next time, that was completely creative financing. So, I don’t even know why that didn’t pop to your head first.

 

[00:39:39 – 00:39:43] – Demetriah Webster (gharvesthomes.com)

It’s traditional for commercial. That’s not creative.

 

[00:39:44 – 00:40:12] – Nicole Pendergrass (Noirvest Holdings)

It’s not creative in the commercial space, because it’s normalized, but it’s still considered creative. did not go to a bank and get a new loan. Oh, that whole acquisition part was creative. We’re gonna touch on that next time, y’all. But you’ll see why I think it’s creative. So y’all can argue me with her, please. Now, you got a question for whoever our next guest is?

 

[00:40:13 – 00:40:27] – Demetriah Webster (gharvesthomes.com)

If you can start over in your investment journey, what asset class or strategy would you pursue first?

 

[00:40:28 – 00:40:47] – Nicole Pendergrass (Noirvest Holdings)

Okay. You pursue first. Great question. All right. Perfect. All right. Last question. How can listeners connect with you or follow you or link up with you or whatever?

 

[00:40:48 – 00:41:25] – Demetriah Webster (gharvesthomes.com)

Yeah. I have a couple of aliases out there. Mainly gharvesthomes info at gharvesthomes.com. I have an Instagram account that I sort of kind of manage at gharvesthomes. And hello with the land gals. I’m also known as the land gals for my land. And hello at cherrywoodloop.com. That’s my private lending company. It’s. It’s Cherry with Loop Partners. Yeah, so those are the ways, those the ways.

 

[00:41:26 – 00:41:49] – Nicole Pendergrass (Noirvest Holdings)

Nice, excellent. Well, thank you so much to me, Shri, this was fantastic. I actually, I figured it was gonna go long, but I didn’t know it gonna go long enough that I wouldn’t be able to get to the main point. wanted to actually really talk to you about, but we don’t have so much going on. Oh my gosh, my mind is blown. All right, I gotta get on the ball. You made me just know that I’m slacking in life and I need to do more.

 

[00:41:50 – 00:42:45] – Demetriah Webster (gharvesthomes.com)

Look, you know, we didn’t talk about this, but this has been a 25-year process, okay? I am not one of those social media influencers who became a millionaire or multi-millionaire in six months. That is not, I’m not cheap, okay? This was a slow and steady process of learning, researching, following experts or gurus and, you know, asking the right questions, it has, yeah, it’s been a long process. So, for those who are out there who are starting, please do not think you need to do everything I’m doing tomorrow. Take small calculated risks and then grow from there.

 

[00:42:46 – 00:43:04] – Nicole Pendergrass (Noirvest Holdings)

Nothing else to end this one. is a perfect ending statement. I can’t even add to that because I’m going to dilute it. All right, everyone. Thank you all for listening and joining us on this episode of the share the wealth show episodes floral of the share the wealth show and I will see you guys next time.

 

[00:43:05 – 00:43:41] – Outro

Did you love this episode of share the wealth show? Be sure to connect with Nicole by following her on LinkedIn, Instagram, or Facebook. If you picked up any of the gems that were dropped by today’s guests, make sure you not only put them in your bag, but if you know of someone who would benefit from this information. Don’t keep it to yourself. Share the wealth, and make sure to leave us a rating and review. We’ll see you for next week’s episode. Subscribe so you’ll be notified.

 

how to review

We’d love to hear what you think about each episode because we highly value your thoughts! Here’s where you can subscribe and give us a  review.

be a guest

If you’re a minority interested in sharing your wealth story or have expertise that would benefit our listeners a.k.a. Wealthpreneurs, please message us what topic/s would you like to share and your Bio with  Headshot and we will be in contact to see if you’re a fit for the show!

join community

Join us if you’re ready to take charge of your financial future and surround yourself with a supportive community of ambitious go-getters. Together, we’ll redefine the meaning of wealth and create a legacy that lasts for generations to come!

Take a Free Training!

BECAUSE EVERYONE LOVES A FREEBIE

The Breakdown

Find out how to quickly review an offering!

The Launchpad

A beginners guide to passive wealth building.

Nicole Pendergrass