Today, we’d like to introduce you to Yolanda Morales.
Hi Yolanda, we’d love for you to start by introducing yourself.
My husband and I got married in 1995. We always envisioned having an established company to call our own. Something that we were proud of to help build our legacy. We eventually were able to start our own small businesses, a cleaning and construction company, but we knew that we needed to do something big to achieve the dreams that we wanted.
Around 2007, we both decided to get into the real estate game. Without much guidance or knowledge, we put our combined expertise to begin flipping houses. To our luck, the recession hit. We ended up with one house but lost another one to foreclosure due to the recession. This hit my husband and I deeply, we weren’t sure if the real-estate business was something that we were strong enough to do.
With time, I ended up getting my Bachelor’s Degree in Business Administration, and my husband was going strong in his construction company. In late 2022, my husband suggested going back into the real estate business. I rightfully had a lot of hesitance. I remember having a mental dialogue about the pros and cons of going back into real estate. I didn’t want to allow fear to interfere with the blessings that were to come my way, so I decided it was finally time. “This time will be different,” I told myself. This time around, we made it a goal to educate ourselves.
We were able to find a knowledgeable mentor who provided the missing information that we lacked back in 2007. This was an absolute game-changer! Because we saw how impactful it was to invest in our continued education, to this day, we are still taking classes to learn and grow. Since our first class in late 2022, we have purchased two properties, one in the closing process.
Would you say it’s been a smooth road, and if not, what are some of the biggest challenges you’ve faced along the way?
No, not by any means has the road been smooth. We were confronted with many struggles in the process of learning. But who doesn’t when learning something new? My husband and I have a goal to build and grow in this business for our retirement and leave a legacy for our kids, so no matter what challenges arise, we will find solutions to get through it.
A major struggle for us has been not having the right team with us on our journey. I am blessed that my husband is the one who deals with the construction, as I am more behind the scenes on the logistics side, and with the combination of both of us, we make a pretty good team.
We’ve been impressed with DreamHomes LLC, but for folks who might not be as familiar, what can you share about what you do and what sets you apart from others?
Our business name is DreamHomes, and we are a real estate investment company based in the Baltimore area. We specifically focus on renovating distressed houses to provide homes for first-time buyers and families.
Having children ourselves allows us to see firsthand the struggles that the younger generation faces that prevent them from being able to purchase a home. Having lived in Maryland for over two decades has given me plenty of opportunities to also see that some people do not see that buying a house is something that is attainable for them in their lifetime.
My husband and I created DreamHomes to assist those who are want to buy an affordable home without the compromise of beauty, we want to be a small part in the efforts to revitalize the city of Baltimore and help improve the living conditions in the area.
Our current strategy in renovating the homes is to “fix and flip” in the Baltimore area, where we focus on providing open-space homes with modern-style kitchens and bathrooms. Later this year, though, we will be adding a “fix and hold” strategy for multifamily homes in other areas of Maryland as well. While most of our business entails selling, we also buy properties from owners who are in distress, such as if they are moving or are no longer able to sustain the house.
Are there any books, apps, podcasts, or blogs that help you do your best?
As mentioned previously, I greatly advocate for continued learning and education, no matter the format. Believing that you know everything can be one’s biggest downfall.
I specifically really enjoy reading! I am a part of a book club where I’ve read Think and Grow Rich by Napoleon Hill (a book that really began the shift in my mindset when starting DreamHomes), The Purpose of a Driven Life by Rick Warren, and many others that are about real-estate.
Aside from reading, I also decided to invest in a mentor who is currently helping me with developing my mindset to make the best out of my life.
Contact Info:
- Instagram: https://www.instagram.com/dream_homesllc/
- Facebook: https://www.facebook.com/yolanda.morales.902
Image Credits
Olga Flores (@worthyofphotos)
