In this episode of Grab the Map, Johnson Crutchfield is excited to invite and talk with Aalim Bakari about his journey in real estate and as a business owner.
[2:24] Aalim has a company called victory capital. He's been in real estate and did his first deal back in the eighties and he really has a very diverse background when it comes to real estate.
[4:24] Real estate given Aalim the opportunity for his wife and kids to enjoy. He was able to take his wife out of her job so that she could be home to help raise their kids when they were young. They've been able to travel, he's been a blessing to their church, and to others.
[6:41] Aalim says he has a great work ethic. There would be times that he wouldn't get home until late. But he never missed football practices, basketball practices, basketball games, baseball games. It's something that you have to make a concerted effort to do. He made the conscious decision to not sacrifice his family for success.
[10:01] What Aalim doing right now is he's wholesaling some deals to build the capital that he needs to do new construction and development. That's his ultimate goal.
[10:39] He made 5,000 on the first wholesale deal. The next one was larger than he just closed one Monday where he wholesales a deal and made 15 off of it. But that's not where he wants to go. Aalim is trying to build a real estate company.
[13:49] Aalim has a VA where she actually makes all of the cold calls for him.
[16:40] Sometimes people take it well. Sometimes people take it badly, but it's really true, the more time and energy that we give to whatever we're doing, we're going to see results eventually. And this is one of those businesses where we can give a lot of time to it and it'll pay off.
[19:21] Aalim is still at that point in his mind where as long as he can decompress and find some things to do to de-stress, he's willing to go through a lot of headaches out. He will listen to a lot of no's to get that door open.
[20:20] He doesn't consider himself a networker. It's just that he's been around for a long time. He's been in the industry, in the real estate, financial services kind of mortgage industry since 1984. So Aalim knows a lot of people, a lot of people know him.
[26:23] When you're doing real estate deals, you have to have patience and that's something that Aalim's learning. It took him about a month to get this lady to sign the contract.
[28:54] Getting people to get into a contract signed is a hurdle, but then getting people to closing is another hurdle, especially when they're selling and they become attached to it.
[32:14] One of the biggest lessons that he's still learning is emotional intelligence and how to keep his emotions in the tap when things go wrong. Even with that trench transaction, Aalim had all these styles of the buyer that spotted for him that went on around him and they're trying to cut a side deal and they just did more because. The contract was about to expire. It, just all of these thoughts. And he has to just sometimes stop me and say, you're thinking about things that haven't even happened. You're making up scenarios in your head. That's the hardest part of real estate or any business. It's being able to control your emotions and not to self-sabotage yourself.
[38:22] When somebody puts their mind to something and you see them actually jump into it and do it.