Today we’d like to introduce you to Cocoa Kearns.
Alright, so thank you so much for sharing your story and insight with our readers. To kick things off, can you tell us a bit about how you got started?
I got started when I moved back to Philly in 2015 from Atlanta and saw the changes throughout the city. It was ridiculous! Neighborhoods that the city did not want anything to do with were being gentrified. I moved into a condo with 2 roommates whom I met via Teach for America, we lived there for 2 years and it just didn’t make sense financially to me so I started looking for a house.
After viewing about 15-20 properties, I found the one I wanted and went from there. I went through the rehab process with my own property in 2017 and saw how things were being done and wanted to do and learn more. No one in my family owns and I didn’t plan to work for someone else for the rest of my life. I grew up in poverty and we always had just enough to get by and I refused for that to be my lifestyle as an adult.
I started following different groups on Instagram, went to a few classes, reached out to a friend from college who’s from Baltimore, and bought my first investment property on the auction.
My friend from college told me about this particular auction in Baltimore and we made plans to meet in Baltimore so we can check out a few houses and take a look at his project.
One day I was at work bored and I just got on the site, made an account, and started bidding on 3 properties. I lost the bid on 2 of the properties and nobody bidded against me on the third property. I won the bid at $4,500, the auction called me and I was shocked. By this time, I had rented out the back room in my house, so my tenant paid for this.
I knew about the auctions but I was just taking a risk. I figured why not? What do I have to lose? I can always sell it if I need to.
That was September 9, 2019. I only saw 5 pictures of the property, and had no idea on the area or the real condition of the property but this was my opportunity to figure all of it and put what I learned to use. I called my friend, let him know and he started giving me contacts for people in Baltimore.
September 25, 2019, I applied for my LLC and at that point, I was addicted to the auction. I told all of my friends and made a post on IG an inspired other people to start buying. I went to close on that property in October. Prior to closing, I cashed out on my 403B from my old job, looked into the buy-now properties and that’s how I got my second house. I had a list of about 8 properties that I wanted to see and I went under contract the following day.
Since securing my second property I started teaching others and really building my business. I helped over 15 people buy 30 properties within 30 days. Fast forward, April 16, 2020, I went back on the auction after contacting a realtor and them telling me that the property I wanted was under contract, I started looking for something else to buy. As I began to scroll on the website, I came across what I thought wasn’t real because of the price. It was 4 lots of land, totaling over 32k square feet. The starting bid was at $15k and nobody was bidding on it. I placed my bid and I’m looking because this is an entire block. I won the bid and then the auctioneer gave me a call. He stated that the owner wanted more than $15K so we negotiated and I ended up buying it for $20k.
I had no idea what was actually happening and I didn’t know what was going to pay for this. I ended up refinancing my house and that’s how I got the funds to purchase the block. During this time, we are still in quarantine due to covid and while I was working virtually, everyone on social media was collecting unemployment and all types of funds from the government. I’m not going to lie; I was jealous and feeling some type of way so I decided to teach myself how to trade options on the stock market.
In 6 months, I made $90k! All from my phone and I began teaching others how to trade as well. I created a community and now we’re all making money. I provided a free course for all rising and graduating seniors in Philadelphia, single moms retired from their jobs, and lots of people made their first 5 figures with me.
As of today, I work for myself, have properties in 4 cities (Detroit, Philly, Chester, and Baltimore), travel the world (37 countries and counting), started a traveling business, became a broker, a serial investor and continue to teach financial literacy.
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?
All investments come with risks! I’ve just always been the person who’s willing to take a loss in order to learn from my mistakes. So, to answer your question, no it has not always been smooth, I paid for all of my mistakes and with that experience, I know and understand what not to do and how to advise others based on my experience. The majority of my lessons came from real estate. Being the first in my family to own a house, I had to do a lot. Select contractors, read/create contracts, believe in people based on recommendation or prices, not seeing their work, and not fully understanding a contract. While these lessons were very expensive, it is a bill that I will no longer have in the future.
I’ve learned that it is more expensive to be cheap, if you do it right the first time, you’ll save a lot of money and time.
In terms of the stock market, I now understand the importance of being a long-term investor, doing my due diligence and being patient.
Thanks – so what else should our readers know about your work and what you’re currently focused on?
I like to think that I’m the resource for my community. A lot of people weren’t afforded the opportunities that I was afforded but that doesn’t mean they shouldn’t have certain things or access. I grew up poor and knew that I wanted better while changing the lives of the people around me and in my community. Turns out, my reach has gone far beyond just my community. I specialize in financial literacy. I’m known for that, sharing real-life experiences and defying the odds.
I’m most proud of the impact that I have and the legacy that I’m leaving behind. I’m truly living in my purpose and have found it. What sets me apart from others is that I’m a regular person who doesn’t appear to be above anything, I am dedicated and most importantly consistent. I understand what it feels like to not have a vision and feel like you belong exactly where you are. I know what others struggle with and I empathize with them. I was in education for 6 years and 5 of those years I spent teaching high school and it has made me a much better person. Educating and uplifting has always been who I am and what I wished to do, now I just have a bigger platform with a much larger reach.
How can people work with you, collaborate with you, or support you?
People can work, collab, and/or support me by reaching out via my website or email Rcopropertygroup@gmail.
Contact Info:
- Email: Rcopropertygroup@gmail.com
- Website: www.rcopropertygroup.com
- Instagram: @cocoa517 @rcopropertygroup
- Youtube: www.YouTube.com/rcopropertygroup
