Change Your Mindset, Change Your Life!

Change your mindset, Change your life!

Changing my mindset on rehabbing properties.

In January 2016, I bought the house pictured above for $46,000. The original list price was $64,000 and the After Repair Value (ARV) was $125,000; so I had plenty of room to play with. The previous owner was a do-it-yourself type of person; but the problem was that he should have paid someone else to do the work for him. The estimate that I received from the contractor was for $33,000. His crew started work in early February; and things seem to be going along fine. I paid him weekly for about a month, assuming things were fine.

About the 5th week into the rehab, things got interesting (or frustrating). It rained really hard one day; and because the gutters were not installed as yet, the rainwater ran under the house. This was significant because the contractor had previously told me that the flooring in the living room needed to be raised. He would need to put some footers under the house to raise it you and level the floor. Here’s the funny part; he found water under the house. They could not put the footers under the house because of the water. Houston, we have a problem…

Here it is, at the point where I expected to be putting on the finishing touches on my project, all the money for rehab was gone. I still had to pay the mortgage, insurance, taxes, and utilities. I was frustrated and worried that this project would be failure.

Fortunately, in September of 2016, the bank called me and asked where was I in regards to the rehabbing of the house. I sat down with the vice president of the bank and explained to him my situation. At first, I thought they would not be able to help me out; but once they looked at my portfolio, he saw an opportunity for them to refinance the property using another rental property I owned that had equity. Once I turned in the proper paperwork, the refinance went through and I received the money to finish the rehab.

After a few months on the market, I sold the property through a lease purchase option agreement for $124,000 and received a non-refundable down payment of $10,000. I learned a valuable lesson with my first big fix and flip project; it is not my niche!

Since the time of this deal, I have done about four owner-financed transactions.  All the failure and struggles I endured are now paying off.  I want to encourage everyone who reads this article to know that success is not built on success. Success is built on frustration and failure. One must be willing to endure the ups and downs of running a business otherwise you will not last.

“Don’t wish it was easier, wish you were better. Don’t wish for less problems, wish for more skills. Don’t wish for less challenges, wish for more wisdom.” – Jim Rohn









Dr. Jamal Cummins

​Born in Queens, NY but considers himself a “son of the soil” to the Friendly Island of St. Maarten. Jamal, a U.S. Army veteran, lived on St. Maarten for 18 years until he moved to Atlanta, GA in 1998 with his family. After graduating from high school in 1999, he enlisted in the U.S. Army later that year. During 8 years of honorable service, Jamal attained the rank of Staff Sergeant and served his country in Iraq, Saudi Arabia, Turkey, Kuwait, and Germany. He is an Ambassador, speaker, minister, mentor, entrepreneur, consultant and Strayer University Alumnus.

Jamal earned a Bachelor of Arts in Biblical Studies in 2005 from Minnesota Graduate School of Theology and Bachelor of Business Administration with a concentration in Entrepreneurship from Strayer University in 2013. Jamal has a sincere passion for helping people change their mindset. “Most of us fail in life not because we’re failures, but because of the FAILURE to change our THINKING.” He is married to the former Shonnelle L. Hightower; and they have three children: Mark, Shon & Jamiyah.

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