BiggerPockets Real Estate Podcast: "Dirt Floor to $80K/Month" Investor is BACK (and She’s Gone BIGGER!)
Release Date: December 2, 2024
Introduction
In this inspiring episode of the BiggerPockets Real Estate Podcast, host Dave Meyer welcomes back Yamu Kamara, a standout real estate investor whose journey from humble beginnings in Gambia to managing a substantial property portfolio in the United States is nothing short of remarkable. Originally featured in episode 761 back in May 2023, Yamu has significantly expanded her investments over the past 18 months, and this episode delves deep into her continued success, the challenges she's overcome, and her future aspirations.
Yamu Kamara’s Journey: From Adversity to Real Estate Success
Background and Early Struggles
Yamu Kamara’s story is one of resilience and determination. Growing up in The Gambia, West Africa, Yamu faced immense hardships from a young age. With the loss of both parents—her mother when she was just two and her father at eleven—Yamu endured severe abuse while living with her sister’s extended family. These traumatic experiences shaped her early life, instilling in her a drive to seek a better future.
Notable Quote:
"I grew up sleeping on a dirt floor in Gambia and overcame some incredibly difficult circumstances to move to the US and start investing in real estate."
— Brandon Turner [00:00]
Transition to the United States and Education
Yamu's breakthrough came when she was selected as a Mandela Washington Fellow, a prestigious program initiated by President Obama to empower young African leaders. This opportunity brought her to the United States, where she attended Northwestern University and met President Obama. Leveraging her academic and leadership experiences, Yamu founded a nonprofit organization teaching girls how to code, further demonstrating her commitment to empowering others.
Notable Quote:
"When I go to school, I'm that smart girl, but when I go home, I'm that abused girl."
— Yamu Kamara [02:05]
Real Estate Investment: Explosive Growth and Strategic Moves
Initial Investments and Rapid Expansion
Upon entering the U.S., Yamu quickly immersed herself in real estate investing. Starting in 2020 with an initial investment of $8,000, she rapidly expanded her portfolio. By the time of her first podcast appearance, Yamu had acquired over 30 rental properties across Illinois, Ohio, and Georgia. As of this episode, her portfolio has grown to an impressive 156 units, including both residential and commercial properties.
Notable Quote:
"I started investing in 2020 and right now I'm at 156 actually."
— Yamu Kamara [05:23]
Balancing Full-Time Work and Investing
Despite her extensive real estate ventures, Yamu continues to work full-time at the CDC in data science. She emphasizes the importance of maintaining a stable income while scaling her investments, advising others not to quit their jobs prematurely. Her dual approach has enabled her to reinvest earnings systematically, fueling her growth without sacrificing financial security.
Notable Quote:
"Why would I leave, you know, a 250 something thousand job? Like that's why I tell people like you don't have to leave."
— Yamu Kamara [06:06]
Navigating Challenges: The 12-Unit Commercial Deal
Acquiring a Distressed Property
One of the pivotal moments in Yamu’s recent investing journey was acquiring a 12-unit distressed commercial property. She discovered the deal through a Facebook Landlord group, showcasing her savvy use of social media platforms to find opportunities.
Notable Quote:
"A lot of people underrate the Facebook market. I found it in the Landlord group."
— Yamu Kamara [13:28]
Facing Inspection Hurdles
The acquisition was just the beginning, as Yamu encountered numerous inspection challenges, including plumbing, electrical, and fire safety violations. These issues threatened to derail the project, pushing her to the brink of frustration.
Notable Quote:
"I never knew the fire marshal would do any inspection on a property if there was no fire."
— Yamu Kamara [16:37]
Strategic Problem-Solving and Relationships
Leveraging her strong relationships with the city officials and contractors, Yamu navigated the bureaucratic hurdles. Her ability to negotiate and find creative financing solutions, such as deferred payments with contractors, ensured the project’s completion. Ultimately, her persistence paid off, securing a certificate of occupancy and maintaining her lucrative contract with a solar company.
Notable Quote:
"Your property, you turn it around. You listen to me, you listen to everyone else. That's how I got that property out."
— Yamu Kamara [17:00]
Transition to Self-Storage: Expanding into Commercial Real Estate
Why Self-Storage?
In 2024, Yamu diversified her portfolio by venturing into self-storage facilities. Seeking a lower-maintenance investment, she found self-storage appealing due to reduced tenant-related issues and minimal upkeep compared to multifamily residential properties.
Notable Quote:
"Because I don't have to deal with toilets. I don't have to do a lot of maintenance."
— Yamu Kamara [28:52]
Implementing Security Solutions
Upon acquiring a self-storage facility, Yamu encountered significant security challenges, including frequent break-ins. Addressing these issues, she installed advanced camera systems connected to her phone, allowing real-time monitoring and swift police intervention. Her proactive measures led to multiple arrests, enhancing the property’s safety and profitability.
Notable Quote:
"Every time I see suspicious anything at any time, I call the police."
— Yamu Kamara [31:38]
Supporting Family and Personal Growth
Balancing Success with Family Obligations
Yamu’s success has enabled her to support her immediate family—her siblings and brother—while establishing boundaries to protect herself from past abusers. Therapy has played a crucial role in helping her navigate these complex relationships, ensuring she can provide assistance without compromising her well-being.
Notable Quote:
"I'm only supporting my immediate family, like my sisters, my brother."
— Yamu Kamara [35:27]
Overcoming Psychological Challenges
Yamu continues to work through her PTSD with the help of therapy, striving to create a positive reality for herself without revisiting traumatic memories. Her ability to rise above her past and focus on healing underscores her remarkable resilience.
Notable Quote:
"Now I feel better. I don't cry much about other things, but I still have PTSD."
— Yamu Kamara [35:27]
Future Aspirations: Teaching, Writing, and Representation
Philanthropy and Education
Yamu is committed to giving back through her nonprofit organization, which now supports 17 offerings in regions like Palestine, Congo, and Sudan. She organizes charity events, teaching real estate and providing internships to empower others.
Notable Quote:
"I've done a charity event, two charity events, actually, for offerings in Palestine, Congo, Sudan."
— Yamu Kamara [37:44]
Authoring a Book and TV Show Vision
Inspired by the positive impact of her story, Yamu plans to write a book that combines inspiration with practical real estate advice. Additionally, she envisions a TV show aimed at educating ordinary individuals on how to invest in real estate effectively, emphasizing realistic strategies over entertainment-driven narratives.
Notable Quote:
"I want to write a book that's going to be more of inspiration and also real estate, but actually how to do it."
— Yamu Kamara [41:12]
Conclusion
Yamu Kamara’s story is a testament to the power of resilience, strategic thinking, and relationship-building in real estate investing. From overcoming a tumultuous childhood in The Gambia to managing a diverse and expanding property portfolio in the U.S., Yamu exemplifies what it means to turn adversity into opportunity. Her ongoing commitment to supporting her family, empowering others through education, and continuously seeking growth in her investments make her an inspiring figure for both seasoned and aspiring real estate investors.
Final Notable Quote:
"You've played them very well and you've made the absolute most of it."
— Dave Meyer [40:09]
Key Takeaways
- Resilience is Crucial: Yamu’s ability to overcome her traumatic past fueled her determination to succeed in real estate.
- Strategic Diversification: Transitioning from residential to commercial properties, including self-storage, showcases the importance of diversifying investment portfolios.
- Maintaining Stability: Balancing a full-time job with real estate investing provides financial security and enables consistent growth.
- Problem-Solving: Addressing and overcoming property-related challenges through strategic relationships and creative solutions is essential for sustained success.
- Giving Back: Utilizing success to support family and empower others through education reinforces the broader impact of real estate investing.
For those seeking inspiration and practical insights into real estate investing, Yamu Kamara’s journey offers invaluable lessons on navigating challenges, building a robust portfolio, and maintaining personal integrity amidst success.