How to Build Generational Wealth Through Real Estate – Dr. Lina’s Proven Strategies

Dr. Lina Odujinrin (00:00)
The wealth is actually created or generated

from the appreciation. So if you buy a property right, you buy low.

and ultimately you leave it for a couple of years and you’re getting, it’s doubling its value. How much more? What else are you looking for? It’s not even in the 200 or 300 cash flow that we’re even talking about. You have, it’s almost like you have your money and then you still have the building. Basically that’s what you have. And then it keeps growing like that. So how else do you want to create that? Now multiply that. If you have one of those property, now multiply, you now have 10.

of it in 10 years you are a multi-millionaire if you just keep buying each one 200,000 every single year or 150 depending on the market where you operate ⁓

you become a millionaire. That’s how wealth is generated.

Erika (02:30)
Hey everyone, welcome to the Real Estate Pro Show. I’m your host, Erica, and today I’m thrilled to be joined by Dr. Lina, who’s been making serious moves in the investing space. It’s so good to have you on the show.

Dr. Lina Odujinrin (02:44)
Thank you, Erica. I’m so happy to be here because this is what I’m very passionate about.

Erika (02:50)
Yes, yes. So let’s jump on in then Lina for folks who may not know your world. Give us the rundown. How did you get started in investing?

Dr. Lina Odujinrin (03:00)
Okay, so basically I started with real estate investing out of ⁓ curiosity or out of not knowing how to move forward. I was thinking about college, I was just worried about funding my kids’ college. And basically I was trying the five tonight, I was trying every other method, I mean every traditional way, and I figured…

Okay, how come, how about me buying a property and pay off the property before the kid, my kid go to college. And then I can basically utilize the rental income or even sell up the property to pay for the college if we decide to go for, you know, to become a soldier for reasons and it becomes too expensive. And that’s how I got into.

real estate and then the second part of it was when you’re earning income I was putting in in traditional savings account which is was generated 0.01 annually and it was just literally annoying so I figured where can I invest my funds I was trying I tried to do stock market and of course they’re like ups and downs so and I wanted something that is more realistic that can this week that I can control and that’s the second way I got into real estate there so I started buying multiple I started buying properties and I’ve grown that portfolio to double the gates as of today.

Dr. Lina Odujinrin (4:25)
a lot of times people are, they end income. They put it in…

the savings account like I said I saw it you know when you have a hundred thousand in the account and it literally generates less than a thousand dollars in a year that is ridiculous like you you so we just need to ⁓ do better so what would I like to talk about I like to talk about people managing their funds well

And one of the biggest or the greatest channel is real estate. I’ve had to buy a property a couple of years ago, like three years ago, that was worth $180,000. And today it’s almost $300,000 or even more. Aside the fact that I’m generating, getting cashflow, even though the margin is so tight right now because of the insurance and because of the property taxes.

Yeah, so really but you get to enjoy the cash flow you enjoy ⁓ the appreciation of the property. I think that’s even what is most downplayed most of the time we all focus on ⁓ you know, there’s the cash flow. There’s the ⁓ How much cash flow is it generated? Is it two hundred dollars is three hundred dollars or maybe eight hundred dollars? But that’s not where the wealth is created. The wealth is actually created or generated

from the appreciation. So if you buy a property right, you buy low.

and ultimately you leave it for a couple of years and you’re getting, it’s doubling its value. How much more? What else are you looking for? It’s not even in the 200 or 300 cash flow that we’re even talking about. You have, it’s almost like you have your money and then you still have the building. Basically that’s what you have. And then it keeps growing like that. So how else do you want to create that? Now multiply that. If you have one of those property, now multiply, you now have 10.

of it in 10 years you are a multi-millionaire if you just keep buying each one 200,000 every single year or 150 depending on the market where you operate ⁓

you become a millionaire. That’s how wealth is generated. I’m not sure of any other investment, you know, investing in a business, you know, which could also, the risk is high. Of course, there’s always this risk with real estate as well, but with real estate, you can easily double your money. You can keep generating wealth and also think about refinancing. So you can literally put $200,000, you buy the property,

Ready?

You I mean later zoom you have 200,000 you buy the property in 10 years. It becomes 400,000 If you buy it, right It becomes 400,000 you refinance it. So you take out your whole 200,000 so you have your 200,000 and Guess what? You also are getting some form of interest on your 200 initial 200,000 which is the cash flow that everybody talks about and then the heisting on the cake which Which is really great, which is if you are working

can incorporate or you are in the get to your W-2, is the tax benefits and the deductions that comes with it. And you know, the depreciation and all of that that you also enjoy as part of, so it’s a multiple way of generating income, which.

I don’t know a lot of people don’t play as of today. ⁓ So that’s how and then you can always leave this. I don’t even plan to sell my property. I plan to leave it for the next generation and the next generation because I probably get my money out and it just still, I still have that property and leave it to the next like that, like that and you create wealth through that means. ⁓ yeah. So it’s a lot of times there is lack of education and I see this a lot.

this lack of education and this is what I’m trying to educate people about because I have a whole lot of people that I know with high income skill they’ve you know they have the skill set

But then they do not, they just have this money, but they’re not utilizing it properly. I have a friend that literally ends at 300 to 400,000 a year. And I had to train her to know how to invest this fund because it was just literally sitting in the account and the bank was just literally using the money and generating funds. And she was just getting 0.01 every single year. And the other part that I also talk about, which is the side real estate,

And I’m just talking about my strategy now. My strategy is I get this get my income put it in an high interest yield savings account So not the 0.01 Maybe you know like it right now generates about three to five percent Once I have the money that is enough to buy the property. I go ahead and buy the property So that is the and that’s how wealth is created and then the other lastly which is where I’m getting into is the multi

units which I will advise the if I was in my 20s or I’m just coming straight out of college and I’m making money what will I do I’m going to buy a multi unit so it could be a duplex and I would live in one side and rent out the other side of the property

And that’s it. Somebody’s paying the rent and I’m still saving my money. Versus is going to buy a single family home. So I do have different strategies for different people of different age group. that’s, you know, and that’s pretty ⁓ interesting because that’s what.

I just want people to just make money and just create wealth. Stop living from paycheck to paycheck. And real estate is the big deal.

Erika (12:20)
That’s so exciting. What markets are you operating in and what drew you to those areas?

Dr. Lina Odujinrin (12:26)
Currently I operate within the Texas environment. I’m not very I won’t say I’m risk-averse but I am my risk tolerance is in between right now So I just I am within the I live in Texas. So I basically I just buy properties with the Texas environment because of course, that’s a market I understand I look forward to expanding to other markets in future

Of course when I’ve done my research and I know how to manage properties out of state Yeah

Erika (13:06)
Yeah, yeah. For those properties, do you have a tool or a system that you use to determine what’s a good fit for you?

Dr. Lina Odujinrin (13:15)
⁓ Good fit from a rent out like renting it out or good fit from making the properties

Erika (13:26)
I guess it depends on what your long-term plans are.

Dr. Lina Odujinrin (13:30)
Okay, so of course I do have ⁓ for renting, know, getting a good tenant, I do use Rent-O-Meter and I do use Zillow ⁓ Rent-A-Hap. And at times I get to use the router, which is the traditional way to fill in your… ⁓

to get your rental property occupied, right? ⁓ But when I’m handling it myself, which I do 80 % of the time now, I basically use the rentometer to see what should be the rent, just to gauge what the rent should be. ⁓ And for Zillow Rental, use it, Renta app is different from the Zillow that we know. This one is Zillow Renta app. I use it to screen

⁓ the tenant to see if the tenant is a good fit or is the one that’s going to give me trouble. ⁓ And so those are the two tools I use in getting my property occupied.

On the other end when I’m I really I wouldn’t say okay for getting a new property I also use the Zillow tool not the Zillow rental but the Zillow tool. That’s what I use ⁓ in identifying if this property is a good buy

So I go into the Zillow app. I see a property. I want to know how much is it what so I check on Zillow in the Houston in the Texas market as well There’s also something called HR. I also use that I also use ⁓ Redfin to see what is the property what I do that and then there’s also the I think there’s a realtor There was one more so there are four apps. So just to gauge what the property just to see

What should be the cost of that particular property? How much should it cost? so if I’m seeing it and like I said I get from probably from the wholesaler or Get off market deal where because I always want to buy this Discount get equity upfront. I hardly do MLS So I want to see that it’s a good deal and that’s the those are the tools I really use to know what the value of the property is and that also helps me with I want if it used to be a

rent out property, I want to know if how many days on market this property is staying before it gets rented. How many days on market is the property staying for before it gets sold? So I want to do compare with other properties close to that property to determine if it’s a goodbye or not, or just to give me an exit strategy at any point in time.

Erika (17:00)
Yeah, that’s great. Lina, I’m sure as you know, every operator has a moment where things get real. Maybe a deal goes sideways or you had the pivot fast. Maybe there’s an issue with a tenant. Mind sharing one of those moments and what you learned from it?

Dr. Lina Odujinrin (17:17)
⁓ yeah right now I’m dealing with an eviction yeah so this is my first eviction in several years ⁓ so it’s a very near one to me ⁓ so this particular tenant ⁓

I wouldn’t say I did proper due diligence like the screen I typically do because if there’s anything aside the fact that I want to make money in real estate I’m also passionate about adding value and helping others and that’s also the reason why of course I started Money Talk with Dr. Lina to teach people on how to create wealth and I became a wealth coach through that. So I got a lady that walked up to me just like next or neighbor saying that I have a problem with my

landlord or whatever gave me a particular story and all of that and I mean typically me I would do my research but I was just you know emotions got to grow the better part of me and I ⁓ you know what I would help you so I helped and that’s what landed me in my first eviction so that’s that’s one story and another story would be ⁓

been having to have my property in the market for more than three months and I have to be paying the mortgage ⁓ for a property. Luckily, it’s one of the one that’s paid off. So I really do not, I’m not paying mortgage, but it would have been a painful one if I have to pay mortgage on that and because it’s going to be eating deep on my income. either ways, it’s also a loss of rental income for me because it’s eating deep on that. Yep.

Erika (19:06)
You are, you run Money Talk with Dr. Lina. So tell us more about that. What do you do that’s different from other wealth coaches?

Dr. Lina Odujinrin (19:16)
Okay, you touched about something that is very dear to my heart. Morning Talk with Dr. Lina, ⁓ it’s a group of, just call it the people that want to create wealth. Create, not just wealth, wealth that is lasting, generational wealth. So it teaches about…

financial literacy. So for I give you, how did I come about this? I see some of my friends that are income earners that are earning 300, 400 thousand and I just literally see them putting money in the account and we’re a discussion. I’m like, what are you doing? And I realized that quite a number of people fall within that category.

we do not have financial literacy because nobody teaches us that in college. Nobody teaches us that. We go to school and do all of that. It’s just like marriage as well. Nobody teaches you that. You just watch it. But guess what? That’s the most important part of your life.

Marriage and finance so in and that’s how I came about that So I started I’ve been helping my friends at the background. They just call and ask me about questions So what I have this money I have 800,000 there was one that literally told me that oh the bank had to call her and said You know, this one’s is too much in your account So I said, okay

How do you let us manage these funds? And basically, what I basically do is I encourage diversification. So I tell them, first of all, let’s move their funds into a high interest yield savings account. So if there’s anything you want to learn from what you’ve talked with Dr. Lina from here, it’s four things. One is high income. Try as much as possible to get a skill that will help you earn an

income because that’s going to be some form of foundation to your wealth journey. I call it my four pillars of wealth creation. Once you have that, the second thing is for you to invest it. Two things that I tell people that I’ve worked is one, you invest in real estate. That’s the building. And then of course, everything I’ve talked about earlier, buying rights, getting the property rented. ⁓

Making sure that I mean so people do fix up and you know fix that flip. I don’t do that I encourage you to keep it and Enjoy appreciation enjoy the benefits of depreciation and all of that so that’s the other part the top pillar of whether I talk about is Investing in the in the stock market, but not the risky one ETFs and the reason why I say this is I encourage diversification so real estate is one so if real estate

market goes down tomorrow you also you have the stock market to fall back in but just do the ETFs the basic ones which is you know the the basket of funds which is like the VO the SPY the QQQ which is tech technology industry in you know you can also get the dividend paying portfolio as well which is ⁓ what’s it called ⁓

Basically, I’d remember now. I have the VO, the QQQ, ⁓ and also you can have the REIT as well if you don’t want to do the traditional ⁓ real estate, if you don’t want to deal with the tenants. So then the last thing that I tell people is enjoy your wealth. Manage, do not buy things that you don’t need. That’s a financial discipline. Save now. Let it be delayed gratification.

money now and then later in your older self you will be able to start enjoying the either the dividend income or you have your real estate you already have you did portfolio of real estate where somebody else you’ve already paid off this property and you’re enjoying the rental income so basically those are my four pillars high income real estate ⁓ stock market which is not non risky one and financial

discipline and that’s what ⁓ that’s what is different about Money Talk with Dr. Lina because I’m not just we’re not just talking about one thing we’re talking about multiple things and why high income is very important is because

it is touching the younger people as well. So you’re going to college, I’m already telling you, think about it before you start taking a decision. Take it because I have an eye school as well that I tell you. Think about the career you’re facing, you’re going, you can have your passion later, but right now, focus on earning high income. When you have your focus on a career that gives you an high income, then once you have that high income, then it’s going to feed your passion later.

you

love to travel then you can go do that later so money talk with dr. Lina talks about different like the young people

the middle age in your 30s and in your 40s ⁓ and it tells you how to invest and then in your later years as well what you would also do so I also talk about things like rote hiree I talk about how you also do that if you’re in the corporate world you know those are like things that we talk about so

Overall is an holistic of and encompasses all the different age groups and you can learn from that.

Erika (25:13)
Yeah, yeah, absolutely. Lina, do you have any success stories or anything that you’re really proud of from, you know, what’s transpired with your group?

Dr. Lina Odujinrin (25:24)
So I would, so number one, ⁓ I am the success story, number one. So the fact that I can build a multi-digit ⁓ real estate portfolio whilst doing my regular job, that’s number one, success. Number two is I have,

Erika (25:30)
you

Dr. Lina Odujinrin (25:49)
⁓ If like I mentioned talked about that my friend earlier that right now she’s she has more a couple of properties like things like three or four right now ⁓ Which are doing well and she is also like a teacher and also like the the flag bearer going across to tell people How they need to manage their funds. So of course we do have ⁓ people ⁓ Is a new community is you we just really started but it’s growing is growing really fast and quick

Yeah and of course I have younger people as well that are asking questions. You know I’m starting my new life should I buy single family home or should I buy multi-unit and I’m telling them do the multi-unit because you can stay in one and you can stay in other one you know stay in one and rent the other part and create your

portfolio, rental portfolio from that and in your 30s, you start at 22, in your 30s you already, you can decide to walk away and say, know what, I’m retired, I can now travel the world and somebody else is paying the rent and you’re just enjoying the cash flow or whatever to live your life, retire on this income.

Erika (27:06)
Yeah, yeah, that’s that’s great. You know, what do you see next on the horizon? It could be investing or it could be with your wealth coaching.

Dr. Lina Odujinrin (27:17)
So for me, it’ll be two things. Money talk with Dr. Lina Croyne and being able to help others. Like I said, I like to help others add value, grow the community where people are able to leave their job if they decide to, retire early, financially free, ⁓ just work here, not leaving paytech to paytech. Just change the trajectory.

A lot of people being tapped on their shoulders of today because maybe because of AI. AI just took your job. mean, that’s going to happen at some point for so many people. lot of people, the economy is, you know, people are losing their jobs. Tens and tens of thousands are losing their jobs. People are losing their homes. I want to be able to help as many people to get ahead of that in…

So that’s one thing for me. The second thing for me personally for my real estate portfolio would be right now I have single family homes, but I’m doing a lot of research to transition to the multi units.

And that’s, that’s, which is the nest biggest thing for me to get a couple of multi units, because that’s even another level, a bigger level of wealth creation where you can buy apartment complex. And so I’m learning about that and I’m going to be pulling the trigger soon. And also I expect my community, you know, the money talk with Dr. Lina to teach them on how they can also break into that industry, commercial real estate and

and all the ⁓ sides of real estate aside from the single family home.

Erika (29:07)
That’s exciting. Before we wrap up Dr. Lina, if someone wants to reach out, maybe collaborate or you know, they’re they’re looking for help help with building their wealth. What’s the best way for them to connect with you?

Dr. Lina Odujinrin (29:19)
So I would say first of all, join the community of Money Talk with Dr. Lina on Instagram. That’s a word you can also check on YouTube right now. We’re just building that. And of course on TikTok, would, you can join that. But I think the bigger community would be with the, ⁓ you know, join on Instagram. ⁓ Yeah, Money Talk with Dr. Lina, join the community every single day. There’s something going on today. We talked about

There’s a post around how to get your ⁓ first rental property, you know, like the tips on how to invest smart investing financial literacy ⁓ What to watch out for not become leaner Dr. Lina having an eviction dealing with an eviction and I would also be posting about you know, the outcome of the eviction in a couple of days how many days it took so in case you are far along

the journey because of course eviction is going to happen at some point if you’re in this journey but it’s when so if whatever you can do to avoid I would be posting about that my experiences and all that of course please join us on monitor with dr. Lina on Instagram I will be happy to to be your coach yeah and of course we would also be publishing some books as well digital books they can also help

and people living from paycheck to paycheck to also creating generational wealth in the financial literacy part of life.

Erika (31:02)
Dr. Lina, I appreciate your time, your story, and how you’re helping others. It’s just fantastic.

Dr. Lina Odujinrin (31:09)
Thank you. Thank you Erika.

Erika (31:12)
For those of you tuning in, if you got value from this episode, make sure that you’re subscribed to the Real Estate Pro Show. We’ve got more conversations coming up with pros in real estate who are building fantastic businesses. We’ll see you on the next episode. Bye.