Kyara Gray has always been fascinated by transformations. Growing up in small town Pennsylvania, she watched farmland routinely sold and turned into housing developments. “As we drove around town, I’d point out the window telling my parents to buy this land or that house,” says Gray, who now runs a multi-seven-figure real estate company, Charm City Buyers, with her husband, Khalil Uqdah.
After graduating from college in 2011, the plan was to climb the corporate ladder, get a dog, and invest in real estate as a side hustle. In just one year she had a well-paying job in insurance, a Lhasa Apso named Duchess, and her first rental property. Less than a decade later, she stepped out on her own. She and Khalil have grown their real estate empire to include developing several blocks of residential housing in Baltimore in addition to over 20 rental units and a construction company.
“Our projects are knock-down, tear out, total renovation houses. We turn them from vacant eyesores to beautiful homes that create community,” says Gray. What’s more, she and Khalil not only create generational wealth for their family—they have a seven-year-old daughter—but they have also transformed their community and shown others how to amass wealth for themselves.
I caught up with Kyara after she and Khalil won a bid for a $15 million dollar new construction community in Baltimore that will include 20% affordable housing. Here are some of Gray’s best tips if you’d like to follow in her footsteps.
Stephanie Burns: How did you save up to buy your first property so soon after graduating from college?
Kyara Gray: Working hard, saving on rent, and not stressing about student loans that had low interest rates. I had a job that paid well and a roommate to split the costs. Khalil had graduated a year before me and was living at home so he could do the same. Once we decided we were going to be together for the long haul, we thought about how our financial future would look.
From vending machines to DVD rental units, we considered a lot of different investment options. But we settled on real estate because of the impact it can have and the revenue it can generate. We looked into deals, found a 3-unit shell of a property, and knew the numbers worked. Because the neighborhood had a tough reputation, most people weren’t interested. We purchased the property for $26k cash but it needed a six-figure renovation. So we found a local organization focused on developing communities in that neighborhood. They provided the funding for the renovation which we finished in seven months.
Burns: How did you get up-to-speed educating yourself on real estate so fast?
Gray: Once we made the decision to leap, we took consistent action every single day to get closer to our goals. We googled properties, went to real estate investing networking events, researched terms and strategies, and started meeting with people in the industry. Every day we were taking small steps towards our dream.
One of the reasons we’re so passionate about mentoring other people is because, when we started, we didn’t have mentors answer our investment questions. We made plenty of mistakes and lost money in different situations. But we persevered. The difference between us and others who don’t make it is we persevere and they quit. We took the challenges as valuable lessons and turned them into fuel to make better decisions.
Burns: What’s one of the toughest lessons you learned as entrepreneurs?
Gray: If you cut corners financially, you’ll lose time, quality, price—or all three. One project we did with a friend who was just starting a construction company ended as a disaster. We thought we were saving money but the job cost us $30,000 more than we budgeted and required additional time. We had walls up that had to come down so we could redo the framing and more. Now we know—and tell our mentees—to spend the time making your money go further. That means spending more time screening and choosing tenants, interviewing workers, and researching properties.
Right now in Baltimore, everyone wants to talk about getting houses for as little as a dollar —yes, literally a house for $1. But like anything in business, you have to think beyond the financial cost to purchase and focus on the total cost and the value. We encourage people to stay rational. Don’t get so excited about getting into a deal that you lose sight of ensuring its success. Focus on the development strategy and the total benefit including community impact.
Burns: How were you able to scale your business to six figures in just two years?
Gray: One of the things we teach our mentees is how to leverage OPM or Other People’s Money, like we did with the neighborhood organization that funded the renovation on our first property. That property brought in almost $3k per month, so we were able to snowball a lot of those funds into our next property and so on. In just three years, we had more than six figures in rental income from purchases. Neither of us quit our jobs until five years ago, so we were able to use extra income for our real estate endeavors. We sacrificed vacations and didn’t even buy our personal home until owning multiple properties.
We also didn’t tell people about the projects we were purchasing until we had accumulated about ten rentals in our portfolio, which was hard. It’s tempting to want to post on social media or tell your friends and family what you’re doing, but we focused on the work so we wouldn’t have to deal with naysayers. Khalil would go to Home Depot before work to pick up supplies, I’d tile floors in the evening, he’d paint. We were scrappy until we grew and could outsource those tasks.
Burns: What made you go from flipping and investing in properties on your own to teaching others how to do it and transforming communities?
Gray: A few years back, we could have managed the portfolio and lived off rental income. But I wanted us to push the envelope and breathe life back into communities in Baltimore that had been forgotten and overlooked. We started that by buying multiple properties on one block in the city and transforming it. We wanted to make an impact, but knew we couldn’t buy every house and do every block. We also knew that one of the biggest barriers to entry is information. So we started a mentorship group called The NEXTGen Accelerator to teach others how to invest in real estate. It’s development without displacement. And it’s the legacy I want to leave behind.
Burns: How does someone know if investing in real estate is right for them?
Gray: It comes down to figuring out if your goals are long term or short term. If they’re short term, yes, you can get rich flipping houses. Yes, you can build wealth by investing in rental properties. Cash means flexibility and freedom. Long term goals mean building generational wealth and legacy. So honestly define your goals. For us, making an impact for our family and the community is important. There are very basic human needs and, according to Maslow’s Hierarchy of Needs, shelter is a basic physiological need that provides safety and so much more. We want to help people with one of their basic needs.
Burns: What advice do you have for female entrepreneurs who want to try their hand at real estate?
Gray: Build an effective team. One of my team members is my husband and we split the duties so we have 48 hours in a day instead of 24. But, the majority of people in our programs are single women doing this on their own. Fortunately, they have a great team: reliable lenders, solid contractors, and a network of experienced people to help them get things done.
Post-pandemic, we’re living through a renaissance. I’d encourage women to think about this moment in time and the future. In Baltimore, people often look around and see disinvestment. For a child, that can have extremely negative effects. It teaches you how to feel about yourself. If no one cares about your neighborhood, maybe no one cares about you. It’s tempting to hope that someone else will revitalize a community but, if you wait for someone else to create change, it can be hard to have a say in how that change looks. Instead of sitting back, lead the way. This isn’t about numbers, it’s about neighborhoods. This isn’t just about income, it’s about impact.
Real estate transfers | News, Sports, Jobs – The Daily Times
The following real estate transfers were recorded in Jefferson County:
Justin Foust to David Brautigam, lot 6, Wheeling and Lake Erie Coal Mining Co. First.
Julianna Parkenick (deceased) to Sherri Vella, .24 acre, Steubenville Township.
Kenneth and Catherine MacAlister to Bonita Starkey and Chad Dombroski, 1.2563 acres, Mount Pleasant Township.
Bryan and Juli Long to Kyle Reid Investments LLC, lots 15-19, W.H. Rodgers Second.
First National Bank of Pennsylvania to Sheryl Ullom, lot 27, Walton Acres.
Terrence Miller (deceased) to Travis Miller, metes, Brush Creek Township.
Harold and Lisa Vandruff Jr. to Sean Moore, lot 10, Askowitz.
Joyce Rouse (deceased) to Ronald Rouse Sr., metes, Cross Creek Township.
Yontz Real Estate Rentals LLC to Satarra Moore and Fred Moore, lots 69 and 70, Gerke’s.
Fitness Pavilion Inc to Origin Fitness Center Inc, 1.3 acres, 5,274 square feet, Cross Creek Township.
Donald and Mary Whipkey to Origin Fitness Center Inc, metes, Cross Creek Township.
Thomas Vergus and Raven Wright to Danielle Sheets, lot 55, McConnell’s.
Kenneth Seiple to Steven Clark, lots 19 and 20, George Myers.
Thomas DiLeonardo (deceased) to Michele Beraducci, lot 22, Beverly Hills Eighth.
JP Morgan Mortgage Acquisition Corp to Southeast Property Acquisitions LLC, 1.52 acres, Knox Township.
Jonathan and Jordian Lemon Jr. to John and Amber Good Jr., lot 17, Dana Lynn.
Gary Srock to Petrella Enterprises LLC, .456 acre, Knox Township.
Lawson Rentals LLC to HCS of Merchants Isle LLC, part lots 32 and 33, Popular Springs.
Franca Zumpano to Morgan McCloud, lot 34 and part lot 33, Beverly Hills Seventh.
Stanley Boroski (deceased) to Mary Boroski, lots 196 and 197, A.C. Jones, .16 acre, Smithfield Township.
Gilbert Thermes (deceased) to Mark and Lori Thomas, part lots 34 and 35, Green Acres (survivorship).
Dorothy Sutton to Robert H. Sutton Trust, lots 89 and 90, Beechwood.
Louis Kutys II to Shane Kutys, lot 20, Walker’s.
Darnell Young to Charles Johnson, part lot 5, Henrietta Mear’s.
Frederick Morris to Bridget Stone, part lot 135, Irondale.
Charles Adrian (deceased) to Janice Adrian, lot 15, John Spahn’s Second.
Emery and Bonnie Mason to Danny Hancock II, part lot 6, James P. Draper’s.
Mitchell Bass Sr. (deceased) to Ethel Bass, lot 3, George E. Sharp’s, lot 13, Pug’s Sunrise Manor, part lot 41, Beverly Hills Seventh.
Cindy Hinerman to Michael Hinerman, .46 acre, Knox Township.
Linnard Merrill (deceased) to Nita Merrill, 1.0894 acres, Salem Township.
Michael Payton (deceased) to Cindy Payton, 4.51 acres, Knox Township.
Margaret Wright (deceased) to Earl Wright, lot 30, Linduff Estates.
Edward G and Nancy R. Kotora Joint Living Trust to David and Shelia Werkin and Monica Werkin, lot 53, Country Club Hills (survivorship).
Dwain and Melissa Zink to Donald and Karen Vandeborne, lot 27, Green Acres (survivorship).
David and Shannon Irvin to Sernna Properties LLC, metes, Ross Township.
Justin and Debra Sofio to Jeffrey Cline Sr., lot 175, Becker Highlands.
Roger and Kristen Fisher to Shirley Huggins, lot 17 and part lot 18, McFerren’s Second.
Taylor and Trong Do to Benjamin Erste, lot 64 and part lot 65, Country Club Estates.
Christopher and Jessica Brown to Gary Morris and Kaitlynn Fitzgerald, lot 14 and part lot 15, Sunset Hills (survivorship).
Amy Beilis and Dinah Redpath to Michael Abbott, lot 85, Alexander Manor.
Margaret Canyock (deceased) to T.J. Dabney Rentals LLC, lot 26, Simmons and Foster’s.
Wilson Family Irrevocable Trust to Thomas Kotur, lot 129, Lincoln Heights.
Tiffany and Matthew Jenca to Nathan Saldana and Stephanie Humienny, lot 66, Beverly Hills (survivorship).
Jacob Slyder and Nicole Slyder to Ryan Kathrens, part lots 120-123, Walker’s Second.
Harry Huggins (deceased) to Nora Huggins, lot 5, Beverly Hills.
Benjamin and Teresa Wiker to Daniel and Connie Creek, lots 2 and 3, Broadview, .1783 acre, Salem Township. (survivorship).
Helen Whitaker to Sunnyside Holdings LLC, part lot 34, Watson and Thomasson’s Fourth.
Mary Colaianni to Reno Colaianni, 10.9526 acres, Mount Pleasant Township.
Willis Calhoun to Ronald Dulaney II, metes, Wells Township.
Susan Black to Beverly Brenda, 5 acres, Springfield Township.
Mark Walker and others to Megan Geyer and Aaron Montgomery, lot 56, Westwood Estates (survivorship).
Joshua and Chelsie Virtue to Richard Reed III, .6151 acres, Wayne Township.
Mona Boyer and others to Timothy and Tina Jacobs, lot 40 and 41, Brentwood Estates (survivorship).
Lawrence and Lisa Mayle to Ben Warner, lot 4, Simmons and Foster’s.
McClurg Properties LLC to Maureen Pollock, part lots 23 and 29, A. Clark’s Second.
Honey Jar Properties LLC to HCS of Merchants Isle LLC, part lot 221, Steubenville Original.
Andrew and Carlie Jolly to Charles Jolly, .5712 acres, Springfield Township.
Paul and Kayla Sweeney to James and Paula Fox, .706 acre, Cross Creek Township.
Linda Yuricic to Michelle Yuricic, lot 54, St. John Heights.
Frederick Luscher (deceased) to Janice Luscher, metes, Cross Creek Township.
Arlie Suggs (deceased) to Ezaine Suggs and others, lot 35 and part lot 38, W.C. Brown.
Betty Alvey to Jay’s Real Estate LLC, lot 199, Lincoln Heights.
Joshua Black to Nicholas Bish, lot 17, Frazier’s.
Richard and Sheryl Call to Edward and Sandra Picardi, lot 2, Lewis Second (survivorship).
Robert and Connie Tanley to Jason and Jessica Downing, part lot 4 and lot 5, Morgan and McBane’s.
Corey Gadsen to Michael Stumm and Park Stumm, part lot 41, LaBelleView (survivorship).
Sandra Leone to Leone Family Irrevocable Trust, lots 90, 91, 110 and 111, Overlook Hills.
Billie and David Hibbits to Alesia Wither, part lot 159, LaBelleView.
Peter and Marguerite Bates to Todd Zimish, lot 14, part lots 7 and 8, Pleasant Heights.
Stella Tsouris and others to Stephen Davis, part lot 161, Steubenville Original.
Queenie Christian (deceased) to Peter Christian and Lloyd Christian Jr., lot 2, Seminole.
Timothy and Tammy McCoy to Kateland Ayers and Damian Ayers, lots 6 and 8, Wiliam A. Seaton’s Third (survivorship).
Michael Gaschler to Kathleen Gaschler, lot 75, Sunrise Terrace.
Jefferson County Land Revitalization Corp. to Sandra Wanat, .137 acre, Mount Pleasant Township.
Jefferson County Land Revitalization Corp. to Logos Inter-plus-Com, lot 629, LaBelleView.
5 notable real estate listings on the market in BC right now | Urbanized – Daily Hive
As British Columbians move into the latter part of summer with the potential for a second heat wave, many have their living situations (and perhaps a new desire for air conditioning) top of mind.
Right now, there are a wealth of homes on the market in BC, with something to suit different buyer criteria. If, like us, you’re curious to see what the newest mixed-use community will look like or perhaps the features that come with a multi-million dollar home, you’ve come to the right place.
We’ve searched BC’s real estate market to round up five unique listings for currently available properties.
Type: One-, two-, and three-bedroom condos, penthouse, and sub penthouses
Price: $604,900 to $10,000,000
Overview: ONE Water Street is a collection of stunning lake view homes currently under construction in Kelowna. Led by Kerkhoff Develop-Build and North American Development Group, this luxury condominium development is slated for completion in 2022. With a total of 427 units across two residential towers, ranging in size from 975 to 2,617 sq ft — coupled with resort-style amenities — there’s something for buyers at every stage of life. Now, only three homes remain in the East Tower (the first to launch), which will be move-in ready this summer — with two-bedroom homes starting at $998,000. Meanwhile, the West Tower will be move-in ready in the spring or summer of 2022.
Other features: Additional features at ONE Water Street include a hot tub, studios for yoga, pilates, and dance, pools, a health club, guest suites, a dog park, a pickleball court, fire pits, and more.
Interested? Click here to find out more or book a viewing.
Type: Three- and four-bedroom family-inspired townhomes
Price: Starting from high $700,000s
Overview: With homes intentionally designed for modern families, Panorama Park by Alvair Group presents an exciting opportunity for families to put down roots in a neighbourhood primed for convenience and connection. Prospective buyers can choose from a wide range of functional floor plans, which are further enhanced by smart home technology within each townhome, including WiFi-enabled switches and doorbells and Cat6 wired-in internet. All homes feature a wall-mounted fireplace with custom shelving; a custom entryway with a full-height mirror and shelving; side-by-side garages with plenty of room to store vehicles and sports gear; and most ensuites have dual sinks for that added enjoyment of getting ready.
Other features: Amenities include a community garden, an outdoor play area for children, walking paths, and a two-storey building called ParkHouse, featuring a billiards room, a kitchen with a harvest style table, and a lounge space.
Interested? Click here to find out more or book a viewing.
Type: Three-bedroom, three-and-a-half bathroom home
Overview: This steel-framed home covering 3,428 sq ft in West Vancouver could easily be described as a trophy property. Unlike anything else along the Sea to Sky corridor, it sits upon a pedestal (that required 2,000 tonnes of rock to be blasted) above other homes in the area, offering uninterrupted views of the mountains and Howe Sound. The location puts the future resident(s) just steps from Furry Creek Golf Club and a short drive to West Vancouver or Squamish. And inside, 23 ft ceilings and expansive custom windows offer exceptional views from the luxurious kitchen out onto the patio space covering over 1,000 sq ft. No details have been spared in the engineering and design of this BC home, from its king-sized master sleeping wing to the jetted standalone tub.
Other features: Additional features include a nine-zone heating and cooling system for year-round comfort, a media room, a heated stamped-concrete driveway, a private yard, and more.
Interested? Click here to find out more or book a viewing.
Type: One- and two-bedroom homes
Price: Under $499,900 (33 homes available at this pricing)
Overview: Situated at the junction between King George Boulevard and the Fraser Highway, Plaza Two at King George Hub gives homebuyers the chance to be a part of a growing, mixed-use community in the heart of Surrey City Centre. Developed by PCI Developments and designed by MCMP Architects, the community features 42,000 sq ft of residents-only amenities, including indoor and outdoor dining lounges, an indoor games room, a family hub complete with a kids playground, and a ground-level hub for those working remotely — containing everything from a maker’s space to a co-working and library space. Homes in this new community boast open-plan living and dining areas, warm design finishes, and panoramic windows offering incredible views.
Other features: Also on-site is a 6,000 sq ft state-of-the-art fitness centre with yoga and multi-functional areas, an indoor half basketball and multi-purpose court, an on-site caretaker, a social and meeting rooftop space, a concierge station, and more.
Interested? Click here to find out more or book a viewing.
Type: Three-bedroom, five-bathroom home
Overview: Resting on a 43,179 sq ft lot, this single-family home on Southwest Marine Drive feels more like a luxurious resort villa. Built in 2005, the two-storey home has its own covered patio, an outdoor pool, and a yard landscaped by Paul Sangha. Now, one buyer has the potential to transform the lot into 28 rental-only townhouses under the Affordable Housing Choices Interim Rezoning Policy. Instead of accommodating one family, the rental townhomes could house up to 50 people with 16 units (each with three bedrooms and 12 garden suites), five with two bedrooms, and seven with one bedroom — in addition to 26 off-street parking spaces. The property would resemble a mansion from the outside, blending in harmony with the surrounding neighbourhood. Please note, the listing price of this property is reflective of the intention to re-zone.
Other features: Extras include an artist-workshop studio, a vegetable garden, a full-sized tennis court, a recreation room, and in-home air conditioning, to name a few features.
Interested? Click here to find out more or book a viewing.
Goldman Bets on City Bounceback with Paris Real Estate Deal – BNN
(Bloomberg) — Goldman Sachs Group Inc. is betting that prime retail and office space in Europe’s top capitals still has a bright future.
The firm’s asset management unit has agreed to acquire a block in the French capital that it plans to transform into an upscale store, with office space above, according to Tavis Cannell, who is co-head of EMEA real estate. It’s the latest in a series of real estate bets the bank is making on the future of cities as the world begins its gradual recovery from the coronavirus pandemic.
“We never believed that cities were going to die through Covid and that everybody was going to move to the suburbs,” Cannell said in an interview. “And we do believe in the future of the office and continue to see bifurcation between high-quality buildings and everything else.”
Goldman is not alone in that view. Private equity firms including Brookfield Asset Management Inc., KKR & Co. and Tishman Speyer Properties LP have been snapping up plots in cities around the world that can be transformed into workspaces designed to lure workers back to the office.
Goldman and venture partner Immobel SA paid about 100 million euros ($119 million) for the property at 277 Rue Saint-Honoré in one of Paris’s toniest districts, a block north of the Place de La Concorde, according to people with knowledge of the deal. Goldman is investing a mix of clients’ and the firm’s capital for the transaction as part of its opportunistic real estate investing business.
A spokesman for Goldman Sachs declined to comment on the price or the fund.
“Post-corona there are huge opportunities,” Immobel Executive Chairman Marnix Galle said in an interview. “People who are used to working in chicken coops and have spent the past year working from home want a completely different environment now, they want much better buildings.”
©2021 Bloomberg L.P.
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