Name: Dimma Wright
Alma Mater: Florida A&M University
How long have you been in real estate investment? 6 years
What has been the most exciting and/or fearful moment during your HBCUpreneur career? The moment I decided to leave my full time job as a senior physical therapist at a top tier hospital and become a full time entrepreneur and manifest my destiny!
What made you want to start real estate investing? I wanted to create wealth and have the freedom with my time to spend it how I wanted.
How do you handle complex problems? I simplify them to the basics on what is necessary to complete first then move to the least and unimpactful item last.
Who was the most influential person/people for you during your time in college? My professors, they were always encouraging and talked real life aspects to prepare me for the real world outside of school.
What is something you wish you had known prior to your first real estate investment? That I should have started investing in real estate ever since I was working and living at home with my mother after I graduated. I didn’t have to have all the pieces in place before I started.
Would you advise someone to buy a primary home or investment property first? I would advise them to do both. A primary home can be utilized to be your investment property, can house hack with a duplex or a single family home large enough to rent out rooms if you desired. Or purchase a primary home that allows you to save for down payment to another investment property or home to move into and rent your current one out.
What is one current trend in real estate investing, and how can investors take advantage of it? The updated fannie mae conventional loan to buy a multi-family (2-4 door unit), allows 5% down payment. Before it required 20-25% down payment, that is why all opted for FHA 3.5% down payment, now you can scale to more properties as a primary residence without having to refinance out of FHA loan every year or so.
Artificial Intelligence is everywhere and its presence in real estate is certainly likely to grow like everywhere else. How do you see it impacting real estate investing in particular? I would want it to underwrite a deal for me quick and fast or I upload a video of the house and it tells me all the repairs needed and estimated costs, that would be cool.
Do you see any potential headwinds that maybe facing real estate investors in the near future? No, true investors learn to adapt in any environment and any obstacle. As long as your mind is right, you will persevere.
Is there anything you read or follow in order to stay an informed real estate investor? I listen to podcasts all on the real estate subject, I take webinars and active at different networking events.
How do you believe HBCUs can help spur more aptitude for understanding real estate investment while their students are in school either as undergraduate or graduate students? I would say to offer more financial literacy courses, help students to understand you can make money but if you are not smart with those decisions Uncle Sam and bad habits will leave you with nothing. Also, to understand all the different taxes that come out of paycheck, it helps to offset extra money with an llc.
How do you deal with rejection? I smile and say thank you for your time.
When you have down time how do you like to spend it? I spend it being harassed by my kids and/or watching movies.
What was your most memorable HBCU memory? I met my husband at a local nightclub in Tallahassee. He was also at FAMU grad school, different major than me.
Lastly, is there any advice you have for budding HBCUpreneurs in real estate? Discipline leads to habits, habits lead to consistency, consistency leads to growth. Changing your mindset will open more doors for you!
HBCU Money 