Sometimes we have to let things come naturally to us, instead of giving up.
In this Flashback Friday episode, we have with us real estate investor and CEO of Broken Houses LLC & Driven USA LLC Ardranae Byer. At the age of 19, Ardranae and a friend started Aries Entertainment. An entertainment company who managed local hip hop and reggae artist. After graduating college , Ardranae wanted to try something new. In 2008 she started IKONS Media Group, Inc and launched the first national publication for queer women of color. IKONS Magazine sold over 10,000 copies and gained an online viewership of over 500 views per day. The demand of running a successful publication and online community and still working a full time job became overwhelming for Ardranae and she decided to stop the publication at the 5th issue.
Five years after closing the doors of IKONS Magazine, Ardranae stumbled and fell into the real estate business. Ardranae saw how ownership could potentially lead her into an early retirement. Since 2016, she purchased one property a year in an effort to supplement her income. In 2018, Ardranae was introduced to the art of wholesaling real estate. Since then Ardranae went on to close over 12 wholesale deals and profit over $80,000 in assignment fees.
Currently, Ardranae still invest in Real Estate in the Rochester, NY area. She also runs a successful wholesaling company called Broken Houses, LLC based in New Jersey. As if that is not enough, you can also rent cars from Ardranae through her private rental company called, Driven USA, LLC.
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[1:00 - 16:56] Who is Ardranae Byer?
Ardranae Byer is a serial entrepreneur and has a nine-to-five job as an engineering inspector for Con Edison in New York City
She started her first business with a ghost friend in college, creating an entertainment company that lasted about a year
She discusses how her experience with managing talent and creating Icons Magazine helped her learn more about herself and how to be an entrepreneur [16:57 - 22:25] Making Money in Real Estate by Wholesaling
Ardranae shares how she experienced difficulty making money from their magazine, and eventually decided to transition into real estate. property instead of buying the actual property
Real estate was the next thing that she tried, and he was successful in buying and renovating two properties
She then started looking for more properties, and found that wholesale was a good way to make money[22:26 - 25:26] Investing on Education
Why we love to invest in our education but still do nothing later
Not wanting the cold calling
Not researching on your partner[25:27 - 28:04] Wholesales Performance
Performing Note- There are risks to consider such as early payoff or they stop making their payments monthly.
Non-Performing Note - In the event that payment stopped, you can take foreclosure action or you can take possession of the property and sell it as is so you are getting the return on your investment [25:27 - 30:24] Closing Segment
Watch out for part 2 of our conversation with Ardranae!“I didn't look for the next thing. I didn't look up ways to make money. I didn't do any of that. I just wanted it to come to me naturally. Just like icons came to me in entertainment.” - Ardranae Byer
“Like they see the money, right?...
