Tips and Tricks to Analyzing Your First Real Estate Deal with Keshera Lyons

Black Wealth Effect

At first, everything you do can seem overwhelming. You even doubt yourself, make mistakes, and get confused.

In real estate, the same thing can happen. While there are struggles, opportunities are abundant as well. There are ways to get started and seek help. Even without any capital, you can start investing in real estate.

This episode discusses Keshera Lyon's strategy for diving into real estate investing without capital. Her experience getting into her first wholesale deal highlights the importance of mindset for overcoming all the challenges you face. In addition, she discussed the importance of considering key factors when analyzing properties to maximize their income potential.

With the ongoing high interest rate environment, she discusses ways you can stay afloat. She also recommends strategies that don't require a large amount of money up front and generate steady cash flow if you're considering pivoting.

As far as mentorship is concerned, she can't emphasize it enough. It has been instrumental in her success as a real estate investor. There is nothing better than also having a good team on your side.

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What you will learn from this episode:

• Find out one smart way to get started in real estate with no money.
• Learn about finding outstanding wholesale deals that are low-priced.
• Know what opportunities you can find amidst interest hikes that are happening in the market.

Keshera Lyons is the CEO of VHP Inc. She started off in real estate via wholesaling and flipping homes. She’s currently exploring property management and arbitrage, but mainly she’s focusing on multifamily these days.

Connect with Keshera Lyons:

• Facebook: https://www.facebook.com/Journey2investingRE/

Topics Covered:

00:50 - Who is Keshera Lyons and how she got started in real estate, and what she is focusing now 05:01- Why she jumped into real estate via the wholesaling route, and what her experience was like getting her first wholesale deal [plus how to get the best deals] 08:03 - What she learned from her first wholesale deal 09:34 - How do on-market deals differ from off-market deals [the value you can find with on-market deals and important considerations to close a deal] 10:45 - What it was like pushing her limits with her first deal 12:30 - Best apps and resources that keep her wholesaling business up and running 13:54 - Working on her first multifamily deal [single-family home versus multifamily properties income-wise] 14:28 - Important factors to consider when analyzing properties 18:20 - How rising interest rates impact the multifamily space 19:01 - Win-win strategies during a recession 20:42 - Pivoting her business with arbitrage 23:07 - How coaching massively helped her in her real estate investing journey 25:00 - Important takeaways from the whole experience of getting started in real estate investing 26:38 - What she’s up to these days where real estate is concerned

Key Takeaways:

"Keep doors of communication open with the buyers and with the sellers, to be as transparent as possible. And to definitely know , like, whatever province you're looking to do real estate, know, the forms that come with it." - Keshera Lyons

"You're the only one that stands in your own way; it's all about believing in yourself." - Keshera Lyons

"Have a mentor or a circle that you can go to to ask questions. A good lawyer, who's not only good in real estate, but who's real estate investor savvy." - Keshera Lyons

"The higher you go, the more units you go, the easier it is because, with a single family, they're looking at your personal income. With multifamily. they're looking at the income of the property itself." - Keshera Lyons

"With underwriting or analyzing properties, it's important to have the income and expenses; you need to know all the expenses of the property and all the income because that's going to really determine the net operating income." - Keshera Lyons

"If you're able to connect with a seller, or like a owner, you could work something out and have some creative financing, even with the high interest rates and the switch in the market."- Keshera Lyons

"A big tip is to get a coach, get a mentor. Sometimes it may be a little pricey, but it's worth it because you'll make that back as quickly as possible." - Keshera Lyons

Connect with Mario Griffiths:

• Facebook: https://www.facebook.com/marioginvest
• Instagram: https://www.instagram.com/marioginvest/
• LinkedIn: https://www.linkedin.com/in/mario-griffiths

Connect with Ron Christopher:

• Instagram https://www.instagram.com/ron.investor/