Today we’d like to introduce you to Stephanie Agledor-Ekunkonye.
Hi Stephanie, it’s an honor to have you on the platform. Thanks for taking the time to share your story with us – to start maybe you can share some of your backstory with our readers?
I got interested in real estate in 2007 when a few of my co-workers were buying multiple homes yet we were working at the same company with the same salary. I started looking for a property without knowing anything about the market, home prices, the process, nothing! Then the crash happened and I saw million-dollar homes being sold for pennies on the dollar so that’s when I really got serious about making real estate my career. I started where everyone does on “Google University” to learn as much as I could for FREE. Then I started hearing real estate seminars being advertised on the radio and I decided to attend one. The up-sell was too much for me to bear; however, I did get some valuable information.
After attending a few seminars, I decided I would rather spend the money buying homes then give it away to some guru or group. Fast forward to 2014, I got my real estate license as a way to give me an edge on my competition, not knowing there were 3,000 licensed Realtors in Florida, ha. I jumped head first into real estate investing and quit my secure 9-5 job of 13.5 years. I used all the free methods I could find to get me started. I purchased my first property (condo) from a woman that lived in Maine. Her brother passed away and he had a condo in Miami, Florida. I was so eager to get my first deal I purchase the condo sight unseen with all the contents. I partnered with my boyfriend at the time to get the renovation completed and sold it to a couple that lived in the building. I’ve done a few more fix and flips, wholesaling, retail sales, and sold some REOs. I’ve had my money stolen from scoundrel contractors, jobs that ran over budget, properties vandalized, and everything else you can experience when investing in real estate. But I am still pressing forward. Today, I am focused on new construction projects, specifically, build to rent and working on a real estate syndication to buy land to build a small community.
Can you talk to us a bit about the challenges and lessons you’ve learned along the way. Looking back would you say it’s been easy or smooth in retrospect?
It has not be a smooth road but it's worth it. Real estate investing is a big-money game. You can win big or you can lose it all with one deal. Everyone is out to steal from you when you are a newbie. EVERYONE! I learned about hard money lenders through a local REIA group. They make it sound so easy to get financing; however, the devil is in the fine print. I’ve had my money stolen from unscrupulous contractors (yes plural), jobs that ran over budget, properties under renovation vandalized, liens placed on my property, demolition order placed on a house I purchased, neighbor calling the police on me and everything else you can experience when investing in real estate. I was fortunate enough to work through these issues gracefully.
We’ve been impressed with SAL Group, but for folks who might not be as familiar, what can you share with them about what you do and what sets you apart from others?
The SAL Group is comprised of four companies: SAL Capital Partners, Benies Investment Group, Black Girl with a Hammer, and SAL Homes. Each division plays a part in funding, acquiring, building and selling the real estate that we purchase, respectively. We specialize in wholesaling, fix and flips, new construction and seller-financed homes. What sets us apart from other real estate companies is we are a one-stop-shop for homeownership. We believe the dream of homeownership should be easy to obtain without hurdles. Lowering the barrier of entry to homeownership, especially in the black community, helps to build a sense of pride. We are proud to offer affordable housing to people that want to live and work in a safe community. We are also proud that we have the opportunity to beautify the neighbors with safe, updated homes.
Have you learned any interesting or important lessons due to the Covid-19 Crisis?
The unprepared will always be impacted the most. The poor and middle class were hit the hardest because most were living paycheck to paycheck. The most important lesson is to be grateful for your family and friends.
Contact Info:
- Email: stephanie@soldbystephaniea.com
- Website: www.soldbystephaniea.com
- Instagram: https://www.instagram.com/queenfancy01/
- Facebook: https://www.facebook.com/soldbyStephanieA
- Twitter: https://twitter.com/stephanieloflo
Original article: http://voyagemia.com/interview/inspiring-conversations-stephanie-agledor-ekunkonye-sal-group/