This is what financial freedom looks like. It looks like being completely debt-free, student loans and all. It's doing work that you love and not just settling for a steady paycheck at a job you hate, or maybe packing up the kids and taking them on trips to St.Thomas, Ocho Rios, or to the Discovery Children's Museum in Las Vegas. And in the case of Jamisa McIvor-Bennett, it also looks like a $3.2 million real estate portfolio with 21 properties— all paid for in cash with the exception of one home.
It all started with an unexpected question that would lead to a life-changing opportunity when a 19-year-old McIvor-Bennett, then a cashier at ShopRite Supermarket in Philadelphia, was approached by her grandmother. "She said, 'I just wanted to know what would happen to the house if something was to happen to me?' I said, 'Grandma I'm not really sure, I can find out.' She was like, 'No, I was just asking because, if something was to happen, I want you to take full responsibility for it. You're the most responsible one.'"
At the insistence of her grandmother, the pair did a quitclaim deed transfer, allowing her grandmother to transfer the property to McIvor-Bennett for $400 total once the dust settled. Over a year later, her grandmother passed away unexpectedly, and all hell broke loose as the family clamored to make claim to the home, unaware of the agreement between McIvor-Bennett and her grandmother. "We made a video because this is during the era of record everything, so I had what I needed in terms of a paper trail."
Courtesy of Jamisa McIvor-Bennett
With no knowledge about financial literacy or real estate, McIvor-Bennett got to work on researching her best options for turning a lemon into lemonade. She didn't have the funds to make the necessary repairs to the home, so she decided to sell the paid-off abode for $152,000 at the encouragement of a real estate agent. And thanks to advice from a real estate investor turned mentor, she used the profit to purchase her first home in cash for $400— a house that she still owns today and that's worth $330,000.
Gaining more knowledge and experience through mentorship and mistakes, McIvor-Bennett has since bought 21 properties worth $3.2 million in the Philadelphia area, affording her a lifestyle that at one point never seemed imaginable for the now-married mother of two. Seems impossible? Well, don't just take our word for it. The real estate mogul is spreading knowledge on the power of investing through her company Rosebud's Investments to those looking to get in the game. "I have so many people who are interested in real estate investment just by seeing my lifestyle change gradually," McIvor-Bennett says.
xoNecole chatted with the self-made millionaire for tips on tapping into lucrative deals and how to build generational wealth through real estate investing.
1.Learn From Others’ Mistakes
Courtesy of Jamisa McIvor-Bennett
"I learned so much from my mentor just through his mistakes. He gave me a lot of information, but he showed me a lot of stuff just because I was paying attention. He was a really big dreamer. He would get really good deals and run out of money. That's why he ended up selling me the properties he did out of desperation because he was locked into a deal and ran out of money to finish it and needed to close. So he was selling off what he had just to get their money to get through that next deal.
"The second time he did it, it ended up helping me because I was down to my last $50,000. And he was like, 'I need money.' So I'm like, 'All right, I'm going to give you the money to finish your deal, and you give me back the money in interest.' And he did. He gave me 25% interest on my return. But I learned a few things— don't get into these high ticket deals without a contingency fund. I was taking notes, which is why it took me so long. I didn't get any mortgages until literally the 13th of December [2019]. So all of these houses later, I was kind of scared because of what I watched him go through."
2.Don’t Overlook Ugly Houses
"The second house sold to me was for $6,500. It looks like a scary movie. I call it the Treehouse, literally, there was a tree growing inside. But I bought it because it was $6,500, and my mentor had purchased it for $2,500. Even though it was ugly, it was structurally sound. So it wasn't one of those things where I had to do anything to it. We put a new roof on it, boarded it up to winterize it, and made sure it was safe. We had to buy a vacant property permit for it. I didn't know what equity was, I was just buying time until I conjured up enough to figure out what I wanted to do at home, but it was worth a lot. Year two [of investing], I started to really get into markets and stuff like that. By year three, the house directly up the street had sold for almost $200,000, and it was smaller than mine. I didn't know it was going to end up being a good deal, but now I knew that buying a house for $6,500 was OK."
3.Check The Comps
"When you're in real estate, you do what's called comps, or comparable property. So if you ever want to know what your house is worth, you have to find something that's comparable to it. Then we look at the work that was done to it. Obviously, if I put a waterfall and elevator in my house, and you got a little patio and vinyl sliding, mine is going to be worth a little more. But this is how you compare the numbers and you look at what [the] dollar consistency [is] in that area. You look at the last three things that sold and you get the average."
4.Buy Cheap Properties At Auctions
"When you buy a house in an auction, you get the equity, but you don't get the debt. There are actually nice houses sometimes, especially foreclosures. Somebody went through the whole mortgage process and out of the 30 years they might've had a good 125 months and they can no longer pay the mortgage. You are getting all of that equity per penny on a dollar because somebody else fell on hard times, which is bad for them, it's very sad. But if they're losing it anyway, you just happen to be the one to purchase it.
"I had purchased my own property for $1,700, and what was really interesting about it was that when I purchased it, I didn't even have to buy it. I had the money. But when you are at an auction, you can't pay for it there. You have to actually finalize your paperwork elsewhere on another day. I had to put down a deposit. The deposit is either 10% or $600, whichever is the highest. After that you have 30 days to do one or two things, the first thing you can do is obviously pay the remaining balance. But the second thing that you can do is sell the property, which I thought was really cool. I ended up returning like two or three days later and then I decided to go back every single month because they had them every month. I still have the $1,700 property. Right now the comp in the area is like $175,000. It's a bad area, but it's coming up. So I will just wait."
5.Buy Properties With Positive Cash Flow
"For myself, I'm looking for positive cash flow. I'm an urban investor so I like to stay true to my roots. I think people spend a lot of time focusing on gentrification, and they are pushing us out. I got a home that's in the city right now that's worth $600,000, you can't tell me that I'm being pushed anywhere. I typically stick to urban properties and the overhead is way less. We usually have about 1,200 to 1,600 square feet, depending on if it's a corner house or not. So with that being said, it's only but so much work that needs to be done to a house of that size."
6.Decide If You Want To Flip Or Rent
"As an investor, I never went in with the intention to flip. I sold one or two during the course of time just because I needed some fast cash and because I'm living off of the rental income, so I was like, 'All right, let me free up something.' Then I would sell one and replace it with two more, but I wasn't really interested in the flipping aspect. Some people need a quick flip. I have children and I like freedom. To me, flipping is too much of a job. You do all this to make money to then do what? You have to do it again because once you get the money, you've got to spend it on something. I like the idea of buying a house and renting it out. Right now my portfolio total is $3.2 million, cash flow is a little under $50,000 a month."
7.Look For Hard Money Lenders
Courtesy of Jamisa McIvor-Bennett
"Hard money lending is a go-to for investors because it doesn't require tax returns and you don't need anything except a good deal because they're funding you based on how much the property is worth. You do need 10% of the money because they'll give you money to purchase and rehab it, but they don't give you the money to fix it up outright. So you have to actually put money into it and then they reimburse you. And when they reimburse you, you use the reimbursement money to keep going. When you are getting a regular loan from a bank, they need at least two years of consistent tax returns. With hard money lending, you decide how much the house is worth. So it's easier to get funding, but you have to pay more upfront and altogether because it's interest-only payments too.
"The benefit of it is [money] is accessible fairly quickly. But you got to do it right because the first couple of payments are interest-only payments, and then you still owe whatever you borrowed. So let's say you did $100,000— $50,000 to purchase and $50,000 to rehab, times it by 10% interest. You owe $10,000 additional on a loan, where a normal loan is usually around 3.5% percent or so. So now you divide that $10,000 by 12 months because usually the loan is between 12 to 13 months. You have to pay them $830 every single month. Then at the end of the loan, you still give them back their whole $100,000."
8.Cash Is Still King
"You definitely get more of a return when you leverage, but the moment that you get a mortgage you owe somebody else. The market goes up and down, and what can end up happening is if the market crashes like it did last time, the value of your property decreases, which is why it's good to be an owner. Let's say for instance you bought a property worth $100,000. A bank will give you up to 80% of what the property is worth. So at $100,000, they will give you the $80,000 to play with. Then the market crashes, now the $100,000 property is only worth $60,000.
"You borrowed $80,000, so now you owe $20,000 more than what it's even worth. Not to mention most people who are investing don't even live in their investment property, so they still maybe have a mortgage. Now, you're struggling to even pay what you owe. If you are a more financially stable person, you can move money around, and then investors do things called diversification, so they have different streams of income other than [real estate] investments. But it depends on what your risk tolerance is."
9.If You Don’t Have The Cash, Consider Wholesaling
"Wholesaling isn't hard at all. You find a seller and you find a buyer. The most involved part is having time. That's what people underestimate. If you don't have credit or money, you have to have time, because the hardest part of wholesaling is finding a seller. But it's definitely not difficult depending on the numbers. Let's say a friend came to you like, 'Listen, I've got this house, I'm over it. I want to sell it for $80,000.' You sign a contract. You don't actually have to have the money when you sign a contract because the contract says that if the original buyer can't secure funding or can't close, they have the right to assign it to somebody who can. You sign a contract agreeing to purchase it for $80,000. You know I buy houses. You call me like, 'Hey, I have a house for sale for $100,000,' and if the numbers make sense and it's worth what you're asking for, I buy it and you give her $80,000 and take the other $20,000."
10. Protect Your Primary Residence
"Every person's situation is different, but I'm not going to ever tell a person to outright start with debt unless they absolutely have to. Once you lock into a 30-year mortgage, you owe them, no matter what. If things go right, good. If things go bad— you lose your job or you break your foot — you owe [the bank], and this is your primary residence. You want to always make sure your home is safe. You should be in a situation where your assets protect your liabilities. Even if you live in a house and you're like, 'I love it, it's beautiful,' it's a liability. It doesn't do anything for you other than makes you happy when you see it. You live there so you're not getting any gains from it."
11. Consider Investing In Multi-Family Units
"The idea is you get a mortgage and you get a multi-unit as opposed to a single-family. A multi-unit can be a duplex or a triplex, or it can even be a quad, which is four units. You live in one unit, you rent out the other units, and what they pay covers what you owe. Now it's not so much of a hassle on you, and then at the end of the day, you are still building equity. So if you ever decide you want out, you can still pull the equity out of your house and then reinvest it into a single-family, or you can go on to a nicer house and a nicer place."
12. Change Your Mindset Towards Money
"Believe it or not, people in urban communities have a whole lot of money. You still got people like, 'I'm not ready to buy,' and I think they're just afraid. When it comes to these properties, these tenants, they spend money consistently. I've met people who've rented for years straight, never missing a day. How do you have the discipline to know that you have to pay a landlord, but you don't have equal discipline to pay yourself? How do you invest in somebody else's equity and tell yourself you're not good enough to do the same thing for yourself? And they do it time and time again."
13. Ignore The Naysayers
"I tell people, it's not what you do is how you do it. I see people posting like, 'It's not like she got it from the muscle.' I did. [My grandmother] didn't give me 20 houses at random, she gave me an opportunity and I made the best of it. I've read, 'Oh she sold her family's legacy for money.' No, I've created a legacy. There was none."
Jamisa McIvor-Bennett is the proud owner of Rosebud's Investments, which offers individualized services in investor processes, for both new and seasoned investors who are looking to enhance their knowledge and expertise, and helps provide a blueprint for purchasing property without using credit.
Featured image courtesy of Jamisa McIvor-Bennett
Originally published on March 2, 2020.
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'Bel-Air' Actress Jazlyn Martin On Her Ongoing Identity Crisis And Its Influence On Her Creative Journey
Jazlyn Martin is a triple-threat performer known most for her role as Jackie on Peacock’sBel-Air. Her character’s fiery personality and questionable decisions have led to a few shocking moments in the series and quite a bit of convo on social media.
Now, I’ll be honest: as an avid TV-lover, I was well-prepared to hop on Zoom and jump into all the chatter around Bel-Air and her characters’ decisions. But after listening to her new EP Identity Crisis, I knew there was a lot more to talk about as well. During this exclusive conversation with xoNecole, Jazlyn Martin delved into the challenging journey she’s faced surrounding her identity, newfound fame, and family influence, and how it all plays a part in her art. Check it out!
xoNecole: So I know that your father is in the entertainment world, but when did you realize you shared the same passion?
Jazlyn Martin: I think it was very early on. I was a child who was full of attitude and fearlessness that would go after anything I wanted. I believe seeing my dad pursue music made me realize it was possible. I just had this hunger and fire, and my parents consciously fed and nurtured that - they are always all super supportive of whatever I do. So very, very early on, I was like, I'm meant to do this. And I just was like, I'm a star, and I know I'm a star.
xoN: Actually, let's talk about your family. What are some of your most important values, and how have your family and heritage played a part in shaping those values?
Jazlyn: I mean, my mom is like an angel; she's so graceful and kind, and I've had to work hard to get there. When I was young, I was very abrasive, headstrong, and stubborn. Whereas my mom gives an immense amount of grace in the way she carries herself. I had to learn that.
I think being strong is something I’ve always had. My parents always joke that they don't know where my personality came from. Because my dad is shy and timid and my mom is kind, and I'm a fireball. But my Dad always asked the important industry questions like, “Why do you want to do this?” And that instilled some purpose into me. It really carried me to keep going because it's so easy to be discouraged in this field, but that drive has helped me push through all of the challenges.
xoN: I bet. I have such a respect for actors and the way you all navigate the industry. Speaking of, let’s dig into “Bel-Air.” Were you a fan of the show? Did you have to go back and watch the episodes?
Jazlyn: So I actually did watch the show which is crazy because sometimes I don’t. I saw it was a reboot and was like, ‘Oh no, not another one.’ But I watched the first three episodes, realized how good it was, and ended up watching the whole season. I became a fan, and then a few months later, I booked the role!
I think the imagination is such a beautiful and powerful tool, and I feel like if you create something in your mind, it happens. It's a crazy thing, but I really just created Jackie's world - the house she grew up in, her parents leaving her, and everything. I created why she fell in love with dance. I really came at it from a human approach. If I see it, then the audience can see it.
xoN: Yeah, background plays into so much of how we deal with things, how we interact with people, and everything. And I feel like Jackie gets a lot of backlash. Like, we’ve all had a “Jackie Moment” to be real.
Jazlyn: She gets so much backlash! I just encourage people to give her grace and see the God in her because I do think she tells a lot of Black and brown girls' stories. People project on her, saying she’s too ratchet or hood, and I’m like does that mean she’s not loveable?
We have to be careful of what’s said and put out because Jackie has gone through things that I've never had to go through. The fact that she's alive and still highly functioning is a blessing. So what if she gets a little messy? I love her. Because she’s helped me extend empathy to people I don't necessarily want to or don't think deserve to have it. But she's 17, she's figuring it out, and she doesn't have parents. Like, that's such a huge factor.
"We have to be careful of what’s said and put out because Jackie has gone through things that I've never had to go through. The fact that she's alive and still highly functioning is a blessing. So what if she gets a little messy? I love her."
xoN: You mentioned how your character is viewed, which digs a bit into identity. So I want to talk a little bit about some of the emotional songs on your EP “Identity Crisis.” What inspired the track “Perfect?”
Jazlyn: When I was creating “Perfect,” I already had the EP title. So I kind of mapped out, like, the different conflicts I had in my head and categorized them into seven songs, and so one of my identity crises was being perfect. Because I feel like a lot of men tend to put women on pedestals. They're expected to be perfect - especially when you’re in the limelight. You know, you can't slip up. You can't say the wrong thing. Cancel culture is such a huge thing. And I just wanted to encourage people to give people grace to be themselves because that's not an easy thing to do.
I just wanted to take down this facade that I’m perfect because I never pretended to be. I never wanted to be. I think that's something people have placed on me, that I have it all figured out, I think I just carry it well, but that doesn't mean it's not heavy. I just wanted to be very vulnerable and honest. I think people think “perfect” is a compliment, but I think it's a cage because it doesn't allow room for error. It doesn't allow for you to be human and mess up and fail and take risks. So I just wanted to encourage grace.
xoN: Do you ever feel like you went through an identity crisis?
Jazlyn: I go through one constantly. Growing up, I didn't really have one. But I think as you get older and more aware and cognitive, you know how the world goes, and the world starts telling you who you are, instead of you deciding who you are. And I feel like being mixed played a big role in that, not feeling Black or Mexican enough. I wanted to belong to both worlds but didn’t so I was just “other.” That was an identity crisis in itself.
Also, being introduced to a level of fame has been interesting, too. I think we all go through identity crises all the time because we’re evolving and changing. It’s beautiful, but it’s also scary; you see yourself this one way, and then something happens, and there’s a shift. So yeah, I think it’s something we all go through but no one talks about.
"I think as you get older and more aware and cognitive, you know how the world goes, and the world starts telling you who you are, instead of you deciding who you are. And I feel like being mixed played a big role in that, not feeling Black or Mexican enough. I wanted to belong to both worlds but didn’t so I was just 'other.'"
xoN: I love that. And I know Hispanic Heritage Month is coming up, and you'll be speaking at the New York Latino Film Festival. Talk to me about what that moment means to you and what you hope to bring to the event. *Editor’s note: The interview was conducted before Hispanic Heritage Month began.
Jazlyn: I’m bringing some Afro-Latino-ness! I always grew up seeing Latinos being represented in a very specific way—very Spanish, not very Indigenous looking. So I'm really excited to bring the Black experience, with the Latino experience, to the stage because that's something a lot of people don't know exists.
People are always like, “Are you Black or Latina?” Well, I'm both! We were just dropped off in different parts. I’m excited to speak on that and highlight how prevalent anti-Blackness is within Latino communities. A lot of Afro-Latinos have faced an identity crisis because of it, including myself. It sometimes feels like you’re supposed to hate the other half of who you are.
For me, I held onto that little Black girl inside. I refused to let her go. And that’s what I want to represent when I speak—resilience and acceptance of our full selves. I’m also looking forward to meeting fellow Latino people, especially Afro-Latinos, and sharing our stories. It’s not a narrative that gets much attention, and I’m excited to represent.
xoN: I’m excited for you! Finally, with all the praise and recognition you’re receiving now, what has it been like to transition from working in music, dance, and acting to now being in the spotlight? How have you embraced this new level of fame?
Jazlyn: Um, it's overwhelming. I think that's the best word. Sometimes, I'm joyful, because I'm giving back to the community. People resonate with Jackie's stories and see themselves in her, which I think is the biggest compliment to me. But then sometimes, you know, I feel sad because I'm like, ‘Damn, I'm not doing enough,’ like I should be doing more. It's crazy, the industry is so fast-paced that you don't really try to celebrate wins. It's just a transition, an identity crisis of the like.
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The changing seasons can sometimes affect your mood and/ or your sleep. While it's normal, it can throw your body off and make you groggy and irritable. And no one wants to deal with that. Well, the experts at HAYPP have researched some popular sleep hacks, so you don't have to.
TikTok has become a go-to source for learning tips and tricks for just about anything, and they have numerous videos on different sleep hacks that people swear by. HAYPP rounded up the best sleep hacks found on TikTok that may actually work.
Keep reading below.
Acupressure
@oldtown_acupuncturist Sleep better tonight with acupressure #acupressure #acupuncturist #insomnia How to sleep better with acupressure point
This is also known as the peaceful sleep acupuncture point, aka Anmian, and can be found one cm right behind the middle of your ears. While this hack has been around for ages, Dr. Eileen brought it back to the forefront on TikTok. To try this technique, lie on your back and, for about a minute, apply gentle pressure behind both ears with your thumb.
While you may be familiar with acupuncture as sticking needles into your body, it actually helps to remove blockages that cause imbalances so energy can flow. Acupressure works the same way. In fact, a study of 25 patients with sleep disorders were treated with acupressure, and 60% experienced better sleep within the first 10 days.
Tart Cherry Juice
@naraazizasmith who has tried this?? #fypシ #sleepygirlmocktail #drink #marriage #mocktails
There's a reason tart cherry juice, with the help of magnesium and prebiotic soda, went viral. This concoction became known as the sleepy girl mocktail and has amassed 28.2 million views on TikTok. Tart cherry juice contains tryptophan, which increases the production of melatonin. It has also been linked to reducing stress levels, weight loss, and hydration.
Cricket Feet
@funwithangedhd #adhdawarenessmonth #adhd #cricketing #fidgettofocus #stimming I've cricketed my feet for as long as I can remember, and multiple family members have done this, too. just thought it was a #Bonebrake thing! 🤣 #adhdgenetics
Cricketing, aka cricket feet, is another powerful sleep hack that everyone is talking about on TikTok. The trend, which was made popular by the content creator @notyouraveragethrpst, involves rubbing your feet together to soothe yourself to sleep. Because our feet also have pressure points, applying gentle pressure, like rubbing behind your ears, can lead to better sleep as it reduces the stress hormone.
Cognitive Shuffling
@thesleep_md Have you tried cognitive shuffling? If you have racing thoughts that keep you at night, then you should! This is a cognitive technique that works in a couple of ways The 1st is that it distracts your brain from racing thoughts But the 2nd and most interesting is that the random nature of the activity actually puts you in a dream like state that makes it easier to transition into sleep In order to do this, you start by thinking of a random word like "Bedtime" And you start visualizing random images to go along with each letter in the word For example for the letter "B" you might think of a broom, or a box or a book You continue vizualizing images for each letter until you run out of ideas, then move on to the next letter You continue doing so until you eventually fall asleep Which for many, happens within the first 10 to 15 minutes Share with a friend who needs to try this! #sleepspecialist #sleepstruggles #bettersleep #sleepbetter #sleeptips #fallasleepfast
Cognitive shuffling is a hack that claims to have you asleep in five minutes or less. This technique involves listing random things in your mind until you fall asleep, which may be good for overthinkers who have a hard time shutting off their brain.
Drunken Monkeys
@usamedical I know I look like a drunken monkey 🙈 #sleeptips #sleepbetter #howtosleepbetter #sleep #sleephack
Usamedical originally shared the drunken monkey hack, and it has since been viewed on TikTok 955.5k times. The drunken monkey requires that you move your weight from side to side on your hips, rolling your shoulders back and flapping your arms about (like a monkey who’s had one too many).
It's recommended that you do this technique one minute before bed to increase blood flow, which in turn allows you to relax.
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