Jamisa McIvor, is a 25-year-old wife, mother of three, and CEO of Rosebuds investments. After receiving her grandmother’s house through a one-dollar deed transfer at age 19, Jamisa quickly realized the knowledge she lacked around real estate.
“It was my responsibility to get [the house] fixed, but I didn’t have money, so I ended up selling the property months after she died. I made $152,000 only to find out I could have sold it for $300,000. I realized two things: I was uneducated, and there was a quarter million dollars with my name on it and I needed to find it. I jumped head first into all things real estate.”
Step one: Seek education and jump into experience.
Jamisa was hooked from the experience with her grandmother’s house. “If one property got me that much money, I needed to buy more.” While working as a cashier, she went to real estate school, listened to podcasts, and purchased more properties. “I realized I really liked real estate, but what stuck out most was that it was necessary. If you don’t own something you don’t control it.”
By purchasing houses from Instagram, craigslist, and other investors, Jamisa put her ownership mindset to practice and learned something from each experience. “No two deals are the same. That’s where a lot of my knowledge came from, hands-on learning. I dove straight into it.”
Jamisa’s suggestion: “Don’t over think it. Don’t convince yourself that you need more than you have. You don’t need a million dollars. You don’t need an 800-credit score. All you need is education. Buy a house and figure it out.”
Step Two: Expect to learn and share what you know.
Acquiring 18 properties was lesson-filled journey for Jamisa. Some lessons included debunking myths about real estate. “The strongest myth is that you need a lot of money and credit; you can wholesale and make thousands with neither of the two. I literally purchased a property with $500. People also think you need a license. You need a license to be real estate agent. As an investor, you just need yourself.”
With her knowledge, Jamisa founded Rosebuds Investments LLC to show people the step by step of purchasing properties. In fact, during the interview she was at the auction with six clients all of whom were going to leave with $600 properties. “I like to simplify it. That’s what makes my business so popular. I take the most extravagant deals and literally break it down into atoms.” Her company is designed to help people acquire their first property within 6 to 8 weeks.
Jamisa’s suggestion: “Don’t be afraid to fail. I kept failing. Once you keep running into a brick wall, you learn how to walk around it. I started to acknowledge it as a learning curve instead of failure.”
Step Three: Build a team.
In the beginning Jamisa tried to do it all alone. Being a mother and wife, she realized this wasn’t manageable. “The first couple of people I brought on were former clients. They knew the process really well and would offer to help, but I said I was good. As a mom and wife, I couldn’t be in two places at once, so I finally asked, ‘Do you mind helping me?’ It ended up freeing up a lot of time.”
By forming a team, she learned a key gem to building a business. “We think about it as being self-employed. I didn’t think of it like that. I wanted an empire. When you put certain structures in place, the business can run without you having to be there.”
Jamisa’s suggestion: “Think about expansion. You have to begin with the end in mind. In the business world, there is no one man. The owner of amazon isn’t delivering packages; he has help. Amazon wouldn’t be as big as it is [without help].”
“Real estate is beneficial for more than just income, it’s also the legacy you’re able to leave behind. My grandmother’s house changed my life, my kids’ lives, and also enabled me to retire my great-grandmother. The long-term benefit is much more than income.” Jamisa is currently building Women in Wealth network, an investment group for women with a three-day all expenses paid on-boarding retreat.