Deba Douglas embarked on her real estate investing journey in 2017, seeking a change from her demanding role as a building principal. It was the pivotal moment of reading “Rich Dad, Poor Dad” by Robert Kiyosaki that sparked a transformation in her mindset about money. This realization led her to dive into real estate, absorbing knowledge from books and podcasts. With determination, she and her husband made sacrifices, curbing unnecessary expenses to save for their first investment property. This marked the beginning of their successful journey in real estate investing. The pivotal moment of financial literacy and the decision to take control of their financial future has led to the acquisition of over 30 rental properties and the ability to impart this knowledge to others, changing not only her life but also those around her. Her story serves as a testament to the power of financial literacy in transforming lives and building lasting wealth.
Topics covered in this Episode:
- Develop the importance of financial literacy in wealth building for a more secure future.
- Discover effective strategies for achieving financial freedom through real estate investment.
- Explore the impact of real estate investing on personal growth and legacy for long-term success.
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Website: https://innovativewealth.com/
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Connect with Deba here:
Website: https://www.douglasdwellings.com/
Instagram: https://www.instagram.com/debaflipstexas/
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About Deba:
As former Assistant Principal in the DFW area, I had the opportunity of meeting so many different families over the years, and I was able to get a glimpse of the disparities regarding housing in so many of my students.
We believe that confidence is based on your environment and it starts at home. I want children that live in our homes to have the very best and it starts with housing. We send quarterly newsletters to our tenants to share free family outings in the area, job postings, provide rent discount to families when their children make the A honor-roll each grading period, and so much more.
Not only do we purchase properties, remodel them and, we also help families facing foreclosure by providing creative options to help save their homes, and we share our knowledge with real estate by helping people become real estate investors.
Shortly after this experience, I purchased my first duplex and created Douglas Dwellings.
I had students that lived in very affluent areas as well as students that lived in low-income areas with limited resources.
I remember having a student that told me he lived in a one bed apartment with his mom, two siblings, aunt, and three cousins. He would complain about having back pains all throughout the semester, as I formed a relationship with him, he shared that his back pain was from sleeping on the floor every night. In that moment, I knew that I had to do something to help in my communities.
My heart was set on purchasing properties in low-income areas and remodeling them to look as though it was in an affluent area, so every family that lives on our property knows that they’re special and they deserve the very best, regardless of where they live.
Timestamped summary of this episode:
00:00:10 – Getting Started in Real Estate Investing
Deba shares her journey from being a principal to getting started in real estate investing after reading “Rich Dad, Poor Dad”. She discusses the steps she took to save money and buy her first investment property in 2017.
00:03:49 – Setting Your Own Path in Real Estate
Deba talks about setting her own path in real estate by using the income from her realtor business to buy rental properties. She shares her strategy of focusing on the buy, rehab, rent, refinance, and repeat, to grow her real estate portfolio.
00:07:31 – Making Real Estate Investing Accessible
Deba explains how she makes real estate investing knowledge digestible for others through her course. She emphasizes the importance of practical steps and support during the real estate investment process, guiding individuals through challenges and decision-making.
00:10:02 – Shifting Priorities and Values
Deba discusses how her priorities shifted as she accumulated more wealth and properties in real estate investing. She emphasizes the importance of focusing on sustainability, systems, and the impact on family and community beyond just financial gains.
00:11:06 – Teaching Financial Literacy to Children
Deba expresses her desire to teach her children the importance of using money as a tool for creativity, purpose, and helping others. She aims to instill values of contentment, generosity, and humanity in their approach to wealth and success.
00:13:50 – Overcoming Financial Burdens
Deba shares how her real estate flip helped a woman pay off her breast cancer medical bills, providing financial relief and the ability to continue necessary tests for her survival.
00:14:51 – Purpose in Real Estate
Deba reflects on the impact of her work, emphasizing that her journey is about helping others achieve financial freedom through real estate, not just personal gain.
00:16:07 – Legacy and Sacrifice
Deba discusses how her parents’ sacrifice to move to the United States from Nigeria has led to a legacy of real estate investments within her family, aiming to continue this financial impact for future generations.
00:17:01 – Standing on the Shoulders of Giants
Deba and the host share stories of their immigrant backgrounds, highlighting the importance of taking advantage of opportunities and honoring the sacrifices made by previous generations.
00:17:59 – Real Estate Course Information
Deba provides details about her real estate course, including the structure, access to a private Facebook group, and weekly live calls, emphasizing the life-changing potential of investing in real estate.
