Jasmin Hudson is currently a sophomore at Norfolk University, however, when she is not studying Health Service Management, she is flipping houses and turning them around for rent. At just 19 years old, Jasmin bought her first house on the west side of Detroit, MI. I had the opportunity to interview this young entrepreneur and get more insight on how she handled her businesses at such a young age.
What made you buy a house at 19?
J: I knew that I was interested in real estate because my parents were so heavy in it, so I had been looking at a particular property for a long time. I also realized that I had very expensive taste and I like buying nice things, so I need multiple streams of income.
How did you get started?
J: I first bought the house on the Detroit Landbank website. This website is basically a site where there are a lot of unwanted houses for a really good price. So, I chose the house that needed the least amount of work. After I bought the house, Detroit Landbank gave me six months to finish the house, but you can always ask for an extension. Then I just used people my parents were familiar with to remodel the house.
Were you a little hesitant about buying a house because of your age and how did you overcome it?
J: No, I was not hesitant. People can start investing in real estate as early as 16 just by working alongside a real estate agent. Buying a property is not as intimidating as people make it seem.
Are you going to continue purchasing houses in the future and turning them around for rent?
J: Yes, definitely. I have already started looking at another house.
Any advice you would give to people who want to get into the real estate business?
J: I would definitely say do your research. Make sure that you are going to reliable sites for buying properties. Also, research about state and government resources because even if you see a $100,000 house ,you don’t necessarily need $100,000, you only need 3% down to get started. I also think it is a good idea for everyone to take a real estate course, they are online and about $90.
Even though Jasmin is a full-time college student, she still makes time for her business. Hudson realized that she had expensive taste, and is currently taking the steps to make sure she never settles. Jasmin Hudson exemplifies that you should start following your dream