Today we’d like to introduce you to Angelo Dickens II.
Angelo, let’s start with your story. We’d love to hear how you got started and how the journey has been so far.
My initial introduction to real estate was buying my first home with my wife.While working my full-time job at a refinery I decided I wanted some investment rental property. I took a $20k home equity line of credit out on our home, and purchased a duplex in Cleveland, Oh. It was in need of repairs, and so I took out a loan against my 401k retirement plan to have the capital to rehab the property.
Shortly prior to exiting the Oil and Gas Industry in 2015, my wife and I sold our townhome and bought a single family home. This allowed me to pay off the existing line of credit I used to buy the duplex, and then leaving my refinery job allowed me to cash out my 401k, and pay off the loan I used to rehab it. I then took a leap of faith and decided to invest in another property which was a single family home. That property was located in Cleveland as well. I paid cash to rehab the home. My “investment portfolio” was now all cash flow.
I became a licensed realtor in August 2016 and joined the same company as my friend Kevin, RE/MAX College Park Realty. I’ve been learning the ropes since then…
We’re always bombarded by how great it is to pursue your passion, etc – but we’ve spoken with enough people to know that it’s not always easy. Overall, would you say things have been easy for you?
I never knew the feeling of living in a home that was “owned”. I grew up in apartments all my life raised by my dad. Upon becoming a homeowner, I had to learn what being a homeowner meant and that involved being responsible, disciplined, creative! This carried over in how I mentally approached the rental property. My first acquisition took 9 months from purchase to placing a tenant. Being a long distance property owner I was taken advantage of by my contractor who was doing very little work, and what was done was improper. I had to get an attorney to attempt to recoup my money back.
Being a long distance landlord with two properties, and three sets of tenants was trial under fire, and many hard lessons were learned quickly! There are rules to the game you have to adapt to, and all sorts of details you couldn’t imagine exist once you actually become a property owner. I’ve had an eviction, and quicker than anticipated move outs which affect your businesses bottom line. My first full year in my business endeavor I had a loss of $30k. I thought would never succeed! Any, and everything you could think I went thru the first two years.
We’d love to hear more about your business.
I like to feel I wear “2 Chains” like the rapper, LoL. I have my personal business located in Cleveland named ABA of CALHIO L.L.C, which I use to oversee my rental properties. I named it after myself, wife, and son. It also encompasses the two state names of Ohio and California. The other business is my Realtor brand under ReMax Realty. Being a real estate agent I specialize in all facets of helping clients buy, or sell the property. I’ve also dabbled in commercial real estate experiences, and just want to be an overall resource for ANYONE who needs help or guidance.
I feel in both businesses that I’m known for being a fair person. I’m willing to give chances, weigh all business angles, and take the risk. I’ve learned to be flexible, fair, but not overly accommodating which I have learned over time, and with experiences. I try to look at situations as if I were in the other person’s shoes. In business, it’s hard being firm, but yet understanding. I’m proud of the progress I have made, and definitely, have come a LONG way in my 3yrs as an entrepreneur. The lessons learned, the residual income earned, or clients served to give me joy. I think when people get into a business arrangement with me that they’ll see a straight shooter, and genuine guy.
Contact Info:
- Website: www.abaestates.com
- Phone: 3232058677
- Email: adickensiiaba@gmail.com
- Instagram: @aba_estates
- Facebook: @abaestates
- Other: LinkedIn- Angelo Dickens II
Image Credit:
@dexwallacephotos (IG)
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