It’s heavy on my heart today that I share my gratitude for a very special women in my life.
Look, I absolutely love my Mom…more than life. She is my rock. But this is not about her today…and that’s ok. Nor is it about any woman in my immediate or extended family…and that’s ok too. These women will grace these pages throughout my journey.
Today is dedicate to Cora Rogers.
I’ll never forget the first time I spoke with Cora. I likely still have our first conversation buried in filed recordings on CallRail 🤣.
“Girl!?! If I cudda sold this house here yesterday, I would have!” she burst out.
It was music to my ears as a new investor! And mind you, one who was marketing to a new city, via SMS, without having done my “due diligence” on the area I chose to farm 🫠.
Fast forward three months to May 6th, 2022. After a laborious attempt to wholesale the property to other investors in the area, and with the encouragement from my husband (I’ve got to give credit where credit is owed 😉), I decided to sign on the line…the line which made her current rental property in Harvey my own.
Rental property #1 in the books!
Now, on the surface, that sounds exciting.
The reality? A deteriorating roof (which I learned of AFTER I owned it…ouch), daisy-chained, out-of-code electrical wiring, buckling floors and a completely rot-out bathroom.
What had I done 😩.
While I knew the basic processes to remodeling a home, I was in way over my head for my first renovation project. While I was confident in my ability to see it through, the big looming question was just how upside down I would be upon refinancing.
Honestly, that question alone plagued me every single day until I refinanced. Every single day 😆. I crunched the numbers in my spreadsheet every single week weighing the potential outcomes as I continued to pour more and more money in the project. Did I think about selling mid-way in an attempt to recoup my investment. You sure bet. But for some reason, a phrase that was shared with me at WREIN Live 2022 by Patrice Washington kept running through my head.
“Do The Right Thing.”
Let me try to quickly set the stage for you. This property was tenant occupied by April Sweatt’s students, who are special needs adults (transitional living). They had been living in this environment for almost a year. Now, I don’t want you to twist anything here unnecessarily and point fingers at Cora or April for permitting these tenants to live in such conditions. Harvey is a Class D neighborhood in South Chicagoland. To further put things in perspective, it was one of the nicer properties available for rent.
My desire to upgrade the living conditions for these people weighed on my heart. When presented with the facts about the roof needing to be replaced, I could have easily done nothing. The roof was providing shelter, no leaks, no holes, otherwise in tack. The question was when would it buckle.
My decision was made both on facts and heart. Looking at this property as a long-term investment, it made sense to take care of the major renovations in the very beginning. What if the roof collapsed after I did all the interior cosmetic updates?! I would be mortified! And moreover, I was guided by the words of Patrice Washington, “Do The Right Thing.” And so, there it was. My decision to go over budget by 66% in order to put a new roof over the heads of my tenants.
All that to put into perspective my relationship with Cora. It would have been easy to never speak to her again. I bought her house. Really no need for her to remain in the picture. I chose not to have an inspection. Everything she told me was true, I just uncovered more “ghosts in the closet” than anticipated, as is the case every time you “peel the onion back.”
But I knew she was connected. And she had a long history of investing herself. Truly, in the beginning, I stayed in touch with her for calculated business reasons. She knew the city. She had a relationship with the Mayor. She herself appeared to BE the Mayor from the “pull” she had in this community! I knew if I kept her within my circle, I could reach out to her for assistance with business matters. I knew I would need her at some point being 1,500 miles away.
After the sale of the property and an issue with the first month’s water bill (story for another day!), I kept my distance from Cora. But remained cordial. However, her actions proving she was a woman of her word, I opened up again and we began to revive the lively banter we had during the days leading up to the closing of the property.
Where are we at today? We are evaluating properties to flip or hold together…pursing opportunities together, hustling to make money together.
Cora is incredible. She scours the town for leads, she has her power team evaluate renovation costs, she bird-dogs, negotiates, acts as boots-on-the-ground, she is a WOMAN slaying the village of Harvey! I’m fortunate to be the financial piece of our endeavors through my network of incredible WREIN sisters, as well as another set of eyes evaluating the deals and ironing out the details. Together, we have become quite the TEAM!
While she is an integral part of my investing endeavors in South Chicagoland, what I cherish most is the relationship we’ve built.
When I receive text messages at 6:30am in the morning, recounting her previous night’s surprise dinner with her daughter at Red Lobster, my heart softens.
When I receive text messages that state, “I think you’re a real cool lady, I like talking to you,” I smile.
Real estate investing is a business about people. Don’t be fooled.
Yes, you can obtain “financial freedom,” “freedom of time,” and “generational wealth.” I’ll admit, all great things I aspire to attain.
But when it comes to doing something you love, and doing it with people you enjoy and have developed unique relationships with, it makes the journey and rewards 1000% times greater.
Cora Rogers marked a pivotal shift in my investing career.
If I hadn’t purchased Cora’s property, I wouldn’t have seen through the purchase of the 7-unit apartment building in Calumet City.
If I hadn’t continued to keep in touch with Cora after the sale of her property, I wouldn’t have pursed joint-venture agreements in business with Cora.
If I hadn’t opened my heart to Cora’s wisdom, a woman with 60 years of investing experience, I wouldn’t receive the endearing text messages I do, weekly.
And it’s those text messages that make my heart full.
Cheers to you, Cora. May your 80th year here be Marvelous!