Jamel Gibbs

2023 has been an incredible year for me. The business growth has been outstanding, and I’m expecting 2024 to be twice as great.

December is usually my biggest month of the year. So I decided to kick it off with some family time somewhere in Central America. (“Somewhere nice where no mosquitos at”… lol)

Anyway, I hope you have the biggest month of the year in your business as well.

Let’s close out strong! 💪🏾

Talk soon!

Happy Monday. Just a reminder. This ends tonight!

Here’s the link: https://reieducationacademy.com/bogo

Day 5: Estate House Update

The other day I talked about listing the kitchen cabinets up for sale. It’s a great way to make some extra money to fund some new cabinets.

Well, my wife put them up on FB marketplace yesterday, and her message inbox was flooded. We sold them today for $500 (full asking price). $250 in cash and the other in cashapp.

Also, we started our drywall process today. The project is moving along. Should be done in a few weeks.

Side note: Somebody recently said that there’s no way I’m doing these rehabs in 30 days, and if I am we’re cutting corners…

This is why I document everything. There’s a lot of talkers on the internet, but there’s no denying proof.

Stay tuned! ✌🏾

Day 2 Update: Estate House

Today we’ve completed the demo and any necessary plumbing.

The plumbing didn’t have to be completely redone, but we added new shark bites throughout. We also took care of some minor plumbing that needed to be fixed.

Also, I made the decision to take out the old cabinets and replace them with new ones. The old ones are in great shape, but they give the house a dated look. So I plan on selling the cabinets for $500.

We also found some termite damage and needed to repair more than we anticipated.

This is all part of the business. Yes it will come out of pocket but…

“… it’s just a minor set back. But still in all we living. Let’s think about the get back”.

Who can tell me what song that’s from?

Anyway, just wanted to give you an update.

Talk soon!

✌🏾

It’s back!

Grab my Hybrid Wholesaling Blueprint as well as my Partnership Profit Program for under $100.

Learn creative finance and wholesaling for today’s market.

This is part of my Black Friday and Cyber Monday BOGO Deal

These 2 courses are the PERFECT fit for right now…
..and if you want to be ahead of the game...

Check out the the details here:

https://reieducationacademy.com/bogo

New Project: Day 1

FIRST:

Today we started the demo on the Estate House that we picked up the other day. This should be another 30 day project.

Our exit strategy will more than likely be a short or mid term rental. This house is too nice to let go right away. And it’s in a great area.

When we picked up the carpet, we found some original hard wood floors that are in great shape too.

SECOND:

This past Friday we listed the Auction house for sale. Today we found a buyer at full asking price. In a month I should get a nice check from that. I’ll keep you posted.

THIRD:

Got a wholesale deal yesterday, and today found a potential buyer.

Between these 3 deals alone, we’re looking at over 75k in profit plus an additional 85k in equity from the property we’re keeping. (Not including monthly Cashflow and refi Cashout money if we take some). This is only from this quarter and the year is not over yet.

Keep pushing!

Finally, be on the look out for the step by step fix and flip video.

Stay tuned!

Saw the good bro Realestate Doru at the game last night. Nas, tell them Hornets to protect home court a little better. Let’s go Knicks.

My father is the biggest NY Knick fan I know. He’s only been to 2 Knick games in his life.

Today the Knicks are in Charlotte. So we got the best seats in the house.

Work hard play hard!

A couple of weeks ago, this Realtor (woman in the middle) contacted me through my contractor in order to sell a house that this young man in the picture needed to sell.

He inherited this property after his dad suddenly passed away a little over a month ago at the age of 47.

Today, we closed on the property (within 2 weeks), and we’re starting our rehab tomorrow.

Most people don’t know this, but when you’re buying a house that’s going through the probate process, you don’t need to wait until the estate is settled in order to sell the house.

I buy houses that are going through probate all the time. All the attorney would need to do is take the proceeds from the closing, and put them into the escrow account for the estate until the estate is settled.

A lot of times, selling the house (which is usually the biggest asset in the estate) can help settle the estate a lot quicker. This is because the proceeds from the property can help payoff any debts that are on the estate.

The realtor here didn’t know that, and that’s why it’s important for realtors to understand the importance of working with investors.

Investors are your friends and can provide a specialized knowledge that most realtors don’t have.

Here’s the numbers and details on this deal…

3 bed 2 bath
2500 SF
ARV - $250,000
Rehab- $30,000
Purchase Price- $135,000

I borrowed $165,000 from my private money lender today in order to make the purchase and fix the property up. Today, I paid $6,146.54 in closing costs which includes the points to the lender.

I’m planning on using this property as a STR.

It’s 7 mins from downtown, 5 mins from the nearest HBCU (A&T University), 5 mins from the nearest shopping center, and right within my farming area.

As investors we provide a service. The better you are at understanding real estate, the more deals you’ll get.

Hope you benefited from this post today!

✌🏾

Day 33: The Auction House is finally done. A little over budget but worth the money to increase the value.

Final step by step video coming very soon. Also, in that video I’ll reveal my profit strategy on this house. Stay tuned!

Next rehab starts in a week.

Let’s go! 💪🏾

My wife and I took our 2 youngest kids through our next rehab that we’re starting next week.

Purchased for $135,000
Expected Budget $30,000
After repaired value: $250,000+

Video coming in a few days!

Quick tip for you…

Wrapping up this rehab tomorrow and starting another next week…

Everybody’s heard of the phrase “the money is in the detail”.

When you are rehabbing or building houses the little things are the money makers. They help the property to stand out.

One old school strategy I still use on rehabs and new builds is to walk through the property with some blue masking tape and look for imperfections.

This way they can be taken care of BEFORE the final payment to the contractor is made, and the house looks great.

Hope that helps you out today!

✌🏾

Happy Sunday!

The other day, one of my clients asked how it was possible for me to work only 3 days a week and be successful…

In a nutshell, I told her it took years for me to be able to understand how to do this.

Some weeks I work more than 3 days, but overall my schedule is set up to work on Monday, Wednesday, and Thursday.

The other days are spent with my family, and doing other things that are important to me. And trust me, I spend ALOT of time with my wife and kids. That’s part of my reason for being in business in the first place.

Besides, I wouldn’t be the “Family Oriented Entrepreneur” if all of my time was spent working.

This morning I read something that reassured me that I’m doing by the right thing.

I’m not saying I’m perfect, but I do make a conscious effort to have balance in my life.

Here’s what I read… hope it helps you out today!

And as a bonus, here’s a pic of our family time yesterday.

✌🏾

———

SON: "Daddy, may I ask you a question?"
DAD: "Yeah sure, what is it?"
SON: "Daddy, how much do you make an hour?"
DAD: "That's none of your business. Why do you ask such a thing?"
SON: "I just want to know. Please tell me, how much do you make an hour?"
DAD: "If you must know, I make $100 an hour."
SON: "Oh! (With his head down).
SON: "Daddy, may I please borrow $50?"
The father was furious.
DAD: "If the only reason you asked that is so you can borrow some money to buy a silly toy or some other nonsense, then you march yourself straight to your room and go to bed. Think about why you are being so selfish. I work hard everyday for such this childish behavior."

The little boy quietly went to his room and shut the door.

The man sat down and started to get even angrier about the little boy's questions. How dare he ask such questions only to get some money?

After about an hour or so, the man had calmed down, and started to think:
Maybe there was something he really needed to buy with that $ 50 and he really didn't ask for money very often. The man went to the door of the little boy's room and opened the door.

DAD: "Are you asleep, son?"
SON: "No daddy, I'm awake".
DAD: "I've been thinking, maybe I was too hard on you earlier. It's been a long day and I took out my aggravation on you. Here's the $50 you asked for."

The little boy sat straight up, smiling.
SON: "Oh, thank you daddy!"

Then, reaching under his pillow he pulled out some crumpled up bills. The man saw that the boy already had money, started to get angry again. The little boy slowly counted out his money, and then looked up at his father.

DAD: "Why do you want more money if you already have some?"
SON: "Because I didn't have enough, but now I do.

"Daddy, I have $100 now. Can I buy an hour of your time? Please come home early tomorrow. I want to play with you."

The father was crushed. He put his arms around his little son, and he begged for his forgiveness. It's just a short reminder to all of you working so hard in life.

We should not let time slip through our fingers without having spent some time with those who really matter to us, those close to our hearts.

Author Unknown

Update: Day 29

The house will be 100% done on Monday. Cleaning crew coming out.

Took 31 days to complete.

Wanted to share some before and (almost) after pics… I’ll share some more pics once the house is cleaned.

What are your thoughts?

Day 21 Update #2:

Floors are done (but dirty lol) and the deck is stained.

Ran into a minor issue with the kitchen cabinet design and will have to make some adjustments tomorrow in order to fit the dishwasher.

I was going to eliminate it given the space we have, but my guy Sawand Belcher convinced me not to, in case I want to go short term rental on this one.

It’s important to have dishwashers in short term rental units, and keeping one in the kitchen will broaden my options with my exit strategy.

I’ve been in the business for over 20 years, but it still helps to have friends to call on for ideas.

By the way…

My next rehab is already locked in. Starting it in a couple of weeks.

I’ll keep you posted.

Talk soon!

💪🏾

Day 21 Update:

It’s day 21 of this rehab on the auction property. This week we’ve pressure washed the basement, and painted the interior. We also put up all new crown molding, and baseboards, etc.

Today, the electrician is hanging the light fixtures and smoke alarms, we’re installing flooring, and cabinetry as well. Oh, and we’re also staining the deck today.

It’s looking like a different house.

We are looking to get this completed by next week.

Then we’ll be starting another one.

I’ll send another update in a couple of days.

✌🏾

Day 13 Update:

Alright ya'll it's been a few days since I've updated you mainly because I've been hosting my 'Deal Flow Sprint' this week.

Anyway, I wanted to give you an update on this project and a new one as well.

This week we've completed the wall removal in the kitchen, we've installed all new electric, new water heater, new plumbing, new HVAC, and we've also taken down the wall in the basement, and removed the second door in the kitchen as well.

As you can see in the pics, we're starting to prep the walls. I think we are on track to hitting our 30 day goal to complete this rehab.

ON ANOTHER NOTE: My contractor found me another great deal today. It's a $250,000 inherited home that we're buying for $130,000, and it only needs $20,000 in upgrade. Check the pic of the brick house. It's in a very nice neighborhood too.

More updates to come. Stay tuned!

This is happening in REAL TIME in my 5 Day Deal Flow Sprint. Over 100 people in the group, multiple people making offers, deals getting accepted. This is in less than a WEEK.

Don’t miss the next one!

We're officially at 101 members in the 5 Day Deal Flow Sprint. (The goal was 100)

The training is starting tomorrow at 2 PM EST. The doors are shutting at Midnight. Joining us?

https://reieducationacademy.com/sprint

Day 7 Update: It’s the end of week 1 and so far we are on pace to get this rehab done in under a month.

Everything went smoothly this week with the exception of the electrician fiasco.

Of course we finally found one.

Anyway, today we installed the gutters. And we went with…

Black

Take a look at the pics. How do you like it?

We’re still debating on the shutter color.

Also, the deck is done and we’re trying to figure out what color to stain it.

We also decided not to cut a window in the kitchen wall. Instead we’re removing it as you can see in the pic. I think it completely opens up that space and creates a better floor plan.

And finally we completely demo’d the bathroom.

Tomorrow, we finalizing the gut, and Monday the HVAC, electric, and plumbing is being installed.

Then the drywall and finishing touches.

Of course people are coming by asking if it’s for sale or rent. So I’m building those contacts up and when we make the decision I’ll be reaching out to them.

That’s it for today. Let me know your thoughts.

Stay tuned.

We’re about to go past our target number of students in attendance for Monday’s week long training:

https://reieducationacademy.com/sprint

Why not join the other 100 people and come along for the ride?

The ‘Deal Flow Sprint’ will break you free from not knowing how to start.

That’s my promise.

‘Can’t find any deals’ will no longer be your issue. Period!

You WILL become a ‘deal flow’ specialist after just one week, starting from scratch.

We start on Monday, which means there’s only a couple of days left until we officially close the doors:

https://reieducationacademy.com/sprint

LET’S GET IT!

Day 5 update:

Today we removed the tree in the front of the house and painted the exterior. The siding is in good shape and didn’t need to be replaced.

I also found 2 backup electricians to rewire the house.

Once the electric work is done, we can get the inside cranking.

Questions for you:

What color gutters should we go with?

Black or White

Also, what color shutters should we go with?

Cedar or Black

Let me know.

Thanks

Quick update:

Today is Day 4 and we’re already facing a dilemma.

The electrician that initially quoted the job can’t come out for another 4 weeks to do the work.

Honestly, we’ll be done with the house before that.

So I had to have 2 more electricians come out. Whoever can start asap will get the job. The pricing should be about the same.

Even if it was more, it would make sense to spend the extra money in order to save time. Everyday I own a house that’s not providing income will cost me money.

So hopefully one of these electricians can get it done asap. I’ll keep you posted.

Another tip I wanted to share with you is to ALWAYS look out for the neighbors around the property you’re buying. They will take care of you.

Example: When we had the dump truck delivered, we couldn’t drop the canister in front of the house because the power wires are too low off the pole.

So I went to the neighbor’s house behind my property and asked for permission to go through his yard with the truck and he said yes. (See the attached pic)

Why did he allow this?

Because I’ve built a rapport with him.

Another neighbor buys used parts. Yesterday he asked if I had any parts I didn’t need. I gave him the washer, the window AC units, the space heater and other things…

Guess what? He’s going to look out for the house when nobody’s there. And he save me time and money from having to get rid of those items that can’t go into the dumpster.

So the key is to ALWAYS look out for the neighbors.

Auction Rehab Progress Report #2:

Today is Day 3 of the rehab. The guys had the day off yesterday. It was Sunday.

Today we’re doing the demo.

I also had the electrician, plumber, and HVAC specialists come out so we can plan things out.

We’ve also decided to frame out another window in the kitchen in order to let more light in.

The tip I want to share with you today is something that NOBODY teaches but it’s super important for tax purposes.

I’m paying my contractors today for roofing, demo, etc., but before I pay them I’ll need to collect a w9 from them as well.

In order for tax season to go smoothly, I’ll want to have all of my documents in order, and part of that is collecting tax documents from contractors too.

So before you pay anybody make sure you collect their tax info.

Stayed tuned for more.

You can now buy 2-4 units with only 5% down. (Not 20%) in Fannie Mae’s revised program.

Would you like to see a video on this and hear my thoughts?

Fannie Mae Introduces 5% Down Payment Option for Multifamily Homes Discover how Fannie Mae's groundbreaking policy change in multifamily financing is empowering mortgage borrowers.

Happy Sunday!

Quick update: Roof is done.

Quick note: I don’t EVER give a contractor money upfront. That will cause a lot of headaches from my experiences in the business over the last 22 years. I don’t care what story they tell.

With that being said, this contractor is done with the roof, so he will get paid for it now. The roof costs me $3600 all in with architectural shingles.

Next is the demo, HVAC, water heater, electric, etc. We’re also cutting down that tree in front of the house.

Stay tuned!