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Show Summary
In this conversation, Eveline Nyasa shares her journey from nursing to becoming a successful realtor and investor in the Dallas-Fort Worth area. She discusses her initial foray into real estate investing, the importance of education and mentorship, and strategies for new investors. Eveline emphasizes the significance of automating property management tasks and choosing the right partners for investment deals. She also highlights the rapid appreciation of property values in DFW and the overall affordability of living in the area.
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Investor Fuel Show Transcript:
Eveline (00:00)
Find the deal first for sure. Get a crystal clear criteria. Know exactly what is a good deal because a good deal for you might not be a good deal for another person. So just know exactly what is a good deal and start looking for that good deal. They always say when you find a good deal, the money will appear. So once you get a good deal, can, there’s so many ways that you can get a partner to work with you on that deal.Dylan Silver (02:05)
Hey folks, welcome back to the show. Today’s guest, Eveline Nyasa is a Dallas, Fort Worth Metro based realtor and investor. Eveline welcome to the show.Eveline (02:18)
Thank you, I’m glad to be here.Dylan Silver (02:22)
I always like to start off at the top of the show by asking guests how they got started in real estate.Eveline (02:28)
We got started, my husband and I, started investing. I’ll say it wasn’t planned, it was by mistake, but right now we’re really loving what we do. We used to live in Minnesota and it was so cold down there, so we decided to move up to Texas. So when we got here, it was kind of taking a long time to sell or rent the house that we had in Minnesota.Back then the market wasn’t that good. we just kept paying the mortgage because we had so much equity in this house. And we kept it down for about six to eight months. And finally we got a tenant and the tenant that we got just stayed there for like four years. And within the four years we saw how the market did change. The value of the house went up by professional nurse.
and my husband is an accountant and we started looking into real estate investing. So after we saw how well the house in Minnesota was doing, we’re actually getting about a thousand dollars of cash flow. I decided to start learning about real estate. I decided to go ahead and get my realtor license as the means of learning the career, the trade.
So I got my license like four years ago, maybe five now. So I got the license that are helping family members to invest in real estate and I saw how the Dallas market has been booming. So I also decided to start investing in real estate and that’s what I’m doing right now. I’m a full-time real estate investor and I’m also a licensed realtor that can help other people acquire properties on the market.
Dylan Silver (04:17)
Now, it sounds like you got started in the investment side of the game. When did you start thinking about getting a real estate license, especially if you’ve got a career as a nurse, right?Eveline (04:27)
Right. I actually started thinking about real estate, about getting the license that was my way of learning the business. Cause I didn’t really pay any mentor to teach me. And I did, I didn’t go to any school to get my license. I just researched on how to do it. I got some online classes, learn about it.I joined a real estate brokerage that was specifically for investors. Watch other investors do it, partner with some investors in some real estate deals. So that’s how I decided to start growing in the business.
Dylan Silver (05:53)
Now when we talk about being an investor agent and looking at these deals but then also learning the business at the same point in time, I mean it was brand new to you, did you focus in on, hey I’m going to learn for instance, know, distressed property acquisition and how I can find deals off market? Or were you looking at, you know, another segment of real estate? Where did you first start?Eveline (06:19)
On-market deals, for sure. I haven’t been doing off-markets as much. I’ve only been doing on-market and my goal is to acquire as many properties as I can. So I just made up my mind three years ago that I’m going to get at least one house every year. However, I’ve also been helping other people do the same.especially close friends and family just to, because I’m educating them on how to still keep your nine to five and still make money on the side. So that’s what I’ve been doing so far. And now I’m looking into getting into some flips. I did partner with some of my investors in the DFW area. We did partner and did some flips together a few years ago. So that’s what I’m, that’s how far.
gone so far. I haven’t been like terribly into the business like.
Dylan Silver (07:13)
So when we talk about keeping your nine to five job and then also getting involved in real estate investment, what are some of the strategies that you advise your clients and your friends as far as how they can get started?Eveline (07:30)
Well, I would say, get a good realtor like myself that actually knows what a good deal is. Know how to run your numbers the correct way. And choose a strategy. There are so many different ways to invest. You can either do off market or on market or even both. However, the most important thing is just knowinghow to run your numbers to see if a deal is gonna work or not. And actually having a plan on what to do with the property as soon as you acquire it. Do you wanna do a flip? Do you wanna do a long-term rent out? Do you wanna do a short-term rent out? What do you want to do? And sometimes things happen, market changes, you can change your strategy.
but just have something in mind and just educate yourself, surround yourself with people who are actually making deals work and actually participate. You might want to start maybe by partnering with somebody who’s already experienced that way you don’t lose that much money and not, and then withdraw very soon. So just partner with somebody that’s very experienced.
Dylan Silver (08:38)
Now, when you’re talking with folks who may not have done a real estate deal and they’re thinking, well, you know, partnering with someone who’s experienced, how would that look? Would you say, you know, it’s better to find the deal first or would you say it’s better to find the partnership first?Eveline (08:55)
Find the deal first for sure. Get a crystal clear criteria. Know exactly what is a good deal because a good deal for you might not be a good deal for another person. So just know exactly what is a good deal and start looking for that good deal. They always say when you find a good deal, the money will appear. So once you get a good deal, can, there’s so many ways that you can get a partner to work with you on that deal.Or can wholesale the deal if that’s something you want to do and still make money from the deal. So of course the deal comes first.
Dylan Silver (10:05)
Now, when we talk about owning real estate while also having a full-time job, right? It can be tricky. You’re dealing with tenants, toilets, and turnover, right? Do you advise folks to stick to that long-term buy and hold? Is it dependent on the person? You know For instance, some people might be better suited for short-term and maybe higher rate of return, and others may be suited for long-term. What’s your take on that?Eveline (10:27)
⁓I would say, depending on what level you are in, in the investment game, the one lesson I’ve learned is to automate everything. I try to delegate it as much as possible. Find someone that will run it. Definitely manage your property for you. That way you don’t get to deal with the.
day-to-day headache of being a landlord. Fine, if you’re doing short-term rent out, there’s so many companies that will manage your short-term rentals for you for a very reasonable fee. Cleaners, you can get cleaners as well and things like that. That way you free yourself some time to be able to concentrate to get more properties or maybe just do what you like to do if you love what you’re.
currently doing at your job, you can keep doing that. But definitely hire people to do the day-to-day tasks.
Dylan Silver (11:25)
Now when we talk about finding the right people, right? Day to day.this does become a bill, right? So now you’re having to, you know, automate it out, but it is something that is an overhead fee, right? So for first time investors, how can you, you know, formulate that into the arithmetic? How are you calculating, okay, well, I’ve got to make sure that I am not always at the property. What would be your advice to folks in that regard?
Eveline (11:56)
That’s something you definitely do put into consideration when you’re doing your, you’re running your numbers before buying that property. I have a formula that I use, the four quadrant formula, but I can’t really explain how that works. What, I mean, you have to take into consideration that there’s going to be some costs that you did not expect and there’s going to be some costs that comes down the road for sure management.Cause is definitely something you want to include in your numbers. Sometimes you might have to, maybe you might not make money visibly from the first year to the, you really want to get started, you might buy property that’s not definitely giving you pure cash flow from the first year. But like they say, just give real estate time. Everybody becomes a genius in real estate if you give it enough time. Cause after a couple years or three years,
the market would definitely change and it’s going to turn to your favor. And you see that maybe a property that wasn’t really cash flowing in the first place is now cash flowing. But I would just say, add as much as you can into your numbers while you’re, before buying the property, don’t just go ahead and buy it and force appreciation or force cash flow.
Dylan Silver (13:18)
Now, when newer investors are looking at deals, right, and they may be thinking about, okay, well, I love this area, I love, you know, let’s say the style of this home, they can fall in love with it themselves, but ultimately it’s an investment, right? So they have to be underwriting the deal. And you mentioned, you know, find the deal and the partners will come basically.Walk me through that on a granular level. How are you able to choose the right partner? especially if it’s a long-term hold, right, you’re gonna be with this person for the foreseeable future.
Eveline (13:52)
⁓That’s a good question. I know there’s so many people out there that really want to invest, but they just don’t know how to. If you’re looking for capital, like a capital partner, somebody that’s not involved in the day-to-day management, of course, you can reach out to some people in your network and advertise your deal and just educate them on the deal and run the numbers.
but also join like, what do you call it? A real estate investment club where you can meet other investors that will want to partner with you. Those are some ways that you can definitely find a partner when you find the right deal or you can advertise it on Facebook or on reals or groups like that that have investors that are looking for deals.
Dylan Silver (15:32)
Now, I wanna go full circle here. So we’ve talked about getting into the real estate space. I wanna talk about scaling in the business. You came from a nursing career, right? Husband in accounting. At some point in time, you decided, okay, I’m gonna put more and more time into this real estate deal. What was that turning point for you where you said, okay, I’ve seen some traction in real estate. This is what I wanna do now.Eveline (15:57)
That actually happened recently. It’s not been that long that I’ve actually quit my nursing job. However, what really was the turning point was when I saw that I was really making a difference in the lives of my close circles, people that I educated them on the investment part of it. I have a few clients that I did help.buy some properties that they wanted to use for short-term rent out. And we talked about, I educated them on how to do it. And amazingly, the properties are really doing so well. I also, I just kind of fell in love with real estate because of the huge return on investment that I see, especially with properties that we’ve held for a long time.
So that’s, I just thought that was just something that I really liked to do. That’s why I decided to switch to real estate.
Dylan Silver (16:58)
Now, we are coming up on time here, Eveline. I do want to ask you about being an investor agent in DFW. of course, I have a lot of love for the DFW Metro. I lived there for a little bit under a year. And what I noticed is if you go pretty much anywhere in Texas, know, each area is going to have their own flavor, their own vibe. But DFW seemed to havethe rest of Texas, but then its own niche. You’ve got, of course, different neighborhoods within Dallas. You’ve got Fort Worth. You’ve got North DFW, where I was living in Denton. And overall, too, I felt like the middle class was quite strong. And so I really enjoyed living in DFW. And I also felt like…
This was, you when people think of Texas, they’re really thinking of like the DFW Metro in particular, right? Cowboys, ranches, country dancing, you know, the stockyards and that type of thing. I’m curious to get your perspective as someone who’s living in DFW right now. What’s been your experience living in DFW?
Eveline (18:12)
We have this famous saying that in Dallas everything is big. Our homes here are so big and beautiful.That’s the first thing that attracted me beside the weather because I was in Minnesota, but the, the, just the houses here was just so beautiful. I liked the way they build them. And that’s why also I wanted to go into real estate because I just love, transforming homes and seeing how they turn out to be so, so beautiful at the end. Let’s say you see you buy an old house and then you add some rooms and things like that.
But the one thing that I know for sure in the Dallas market is that we’re attracting a lot of immigrants from all over United States, even all over the world. So the value of homes here are really appreciating really, really fast. I’m also in the North area of Dallas, like the Frisco area, that’s where I am. Within the past four or five years, I’ve seen a huge appreciation in people’s homes.
Homes that people bought three or four years ago for like 500, 400. Those are now going for like a million in fiscal area. So there’s a lot of acquisition in the north side for sure that have weakness. And I’m so proud of the clients that have really helped out to invest in this area because they’re so happy that they actually did go ahead and.
took the move to buy the homes. Standard of living here is relatively very affordable compared to other parts of the country. So that’s something that I really like about Dallas.
Dylan Silver (20:00)
We are coming up on time here, Eveline. Where can folks go to reach out to you? Maybe they have a deal they’d like you to look at. Maybe they are interested in getting into investing and would like to know where to start. How can folks reach out to you?Eveline (20:14)
So I have a coaching program, it’s called growwealtheasy.com. I do help first time investors to buy their first homes. I encourage you on how to, I teach you step by step on how to buy a house and invest in real estate. And I ⁓ also have Trusted Homes, which is my real estate, my realtor website where you can look for homes if you’re looking for something in the DFW area.So those are the two websites that you can contact me. You can also follow me on Facebook, EvelineSofi and on Instagram and definitely on TikTok.
Dylan Silver (20:54)
Thank you so much for coming on the show here today.Eveline (20:57)
Thank you.
