ORLANDO, Fla. – Experimentation is usually welcomed when it comes to identifying the wrong and right way to do any given thing, but if it involves as much money as one stands to make in real estate, the “right way” had better be your plan from the get-go.
This week on “Black Men Sundays,” host Corie Murray interviews Brandon “The Brand” Lee, a self-described serial entrepreneur with enough of those “right ways” in mind to have written four books on real estate, homeownership and goal setting. That’s just for starters, too, as Lee’s an all-around financial and real estate guru who’s willing to share the many hats he wears.
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“There’s different levels of real estate investors. Some people have money and you don’t have the time, so if you don’t have the time, you’re not gonna be a good wholesaler, you can’t go out here and find deals, right? You may need to get in on the investing side, you may be a lender, you know? Or you may need to partner up with one of my other students that’s a really great wholesaler, and then they sell deals to you, and you may be a landlord, you may be someone that’s going to do a development. So I just really need to figure out what your income is, where your credit is, but most importantly, what your mindset is. That’s the main thing, and then of course, how much time you have on your hands,” he said.
Lee grew up in New Orleans, Louisiana, and otherwise lived much of his youth in Mississippi. His timeline involved what he called a “street uncle, business uncle situation,” his phrase for how he watched one of his uncles find wealth and success doing business on the street while another got rich in real estate.
Combine those two lifestyles somewhat, and you have “The Brand.”
“I just kind of pattern myself a little bit after both of them because the one was a little bit more cool, right? You know, kind of in shape and more like what you may see when you see me, but other one had this. Both of them had it, but as far as the business side and real estate and the financial stuff, I kind of got from (the other uncle), so I kind of merged that together,” Lee said. “So, growing up, all I saw was businessmen with the family, whether they was in the street, whether they was doing construction or doing real estate, that’s all I saw. So I think with kids, it’s about what they’re exposed to. I was exposed to business.”
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Many of us have stayed in an Airbnb, to change the subject a little, but if you’ve ever been on the fence about hosting one yourself and making some money, Lee’s ready to push you into those profits with more advice.
To that point, Lee commented on how regulated Airbnb has become in places such as Atlanta, Georgia, where he’s based out of.
His solution, briefly, is to seek out other markets where those regulations have not and may never come to pass to the same extent. Think overseas, or right here in Florida.
“What we’re looking at right now is doing stuff in the Dominican Republic, Colombia, places a lot of guys go,” he said. “...Certain vacation places like Florida is always gonna hit, I got one in Myrtle Beach, that’s a cool place, but a lot of places like Nashville, it’s about to be over. I think the hotels are lobbying against it right now. But you can still make some money on it, I suggest doing the subleasing version of it.”
Lee’s books are kept stocked and available via Amazon and other retailers: “Rich Off Real Estate: The Ultimate Guide To Real Estate Investing,” “Achieving The American Dream,” “7 Keys To Unleashing Your Prosperity: The Ultimate Guide To Success,” and “48 Laws Of Property.”
Hear the full interview in Season 3, Episode 5 of “Black Men Sundays.”
Black Men Sundays talks about building generational wealth. Check out every episode in the media player below.