Today we’d like to introduce you to Darius Barrett.
Darius, please share your story with us. How did you get to where you are today?
My story begins in my childhood home in Detroit, Michigan where I was guided by a dedicated mother who instilled in me incessantly that whatever I desired in life could be achieved through my diligent and focused efforts. Since I can remember, discipline, resilience and unwavering self-belief to provide for self and family were the highest valued principles in my home. These have always remained at the forefront of my mind when approaching anything in life. Not only professionally, but personally. I believe these principles transcend all aspects of life and ultimately allow me to operate at my highest potential.
My entrepreneurial endeavors started small as a kid earning a $20 allowance each week. That allowance did not always cover the things I wanted as a child eager for trendy gym shoes and clothes. This paved the way for my beginnings as a strategic and methodical business-minded child. I knew that if there was anything that I considered to be a must have for myself, the ball was in my court to make it happen someway or another. Understanding I had to work with what I had despite the cost of things that were beyond my earnings, I learned quickly how to maximize my income to accomplish my goals. Living by this approach has truly been a full circle for me. That mindset introduced me to the power of actionable steps and the greater understanding that nothing comes from simply desiring more. Being a doer is non-negotiable and maximizing what you have will prove not only worthwhile but priceless.
Education has always been a driving force for me. I was always going to complete higher education for my benefit. What I believe was pivotal for me at the time, was that I strategically thought ahead and beyond earning my degree. I stepped into college focused on the field of mechanical engineering because I knew it was an industry that was high paying and viable.
My thought process when approaching my degree plan was that corporate America or one-job would never be long term for me or dependence in my life and no matter what life presented me along the way, engineering would be the reliable foundation for me to be stable. I considered it a solid gateway to pay for the investment and pursuit of my future dreams.
Recognizing early on the struggles of financial stability within my own family even with decades of loyal employment, I never wanted to be in a position where I depended on a sole job for my livelihood or that of my family. Upon graduation, I immediately took ownership in strategizing ways to put more money in my pocket in addition to my engineering career. When I was introduced to the world of real estate and investing by a family friend, I became a sponge, absorbing everything I could from my mentor. I hit the ground running. After purchasing my first two homes, the feeling of ownership compared to no other. Simply the fact that I could put my family in a home if the need arose was such a good feeling. I made $5,000 within 30 days of ownership and kept steadfast toward Increasing my ownership and knowledge. Two homes led to the purchase of four additional homes at my second auction attendance. Everything about these steps directly aligned with my desire to always create more from what I’ve started with and to have the ability to provide for myself and others through the building of my businesses and investment ventures. So many aspects of executing projects such as the restoration of my first fixer-upper was an unforgettable feeling of pride and accomplishment. For me, being able to utilize my creativity to bring a space back to life; to glow and restore to its former glory with my cultivated ideas is an unmatched fulfillment in my life. I’m all about building upon my vision Constantly. Beginning with rental investing naturally led to investment in homes. I now hold my general contractor license to conquer even more of my goals as an impactful community-driven change agent.
Great, so let’s dig a little deeper into the story – has it been an easy path overall and if not, what were the challenges you’ve had to overcome?
When it comes to my challenges within the real estate and investment industry, each new phase has introduced me to a new challenge. I only know to keep pushing past them one step at a time. Otherwise, there is no moving forward. My initial challenge after purchasing my first homes was finding buyers. I had no idea who to sell to. Acquiring quality contractors served as another challenge before me identifying and establishing my standards and criteria for hiring. A reality check was recognizing when family and friends became a conflict of interest and in various ways, jeopardized my project outcomes. After I experienced a multitude of issues from those who had a personal relationship with me, I put proper measures in place immediately. My workers now must be licensed, accountable in meeting specific guidelines, credible, trustworthy and efficient. Business and personal life need to be separated for specific reasons. I believe all business owners must understand this to protect your business at all times.
There will always be external challenges that are completely out of our control. I believe you must become accustomed to them to become comfortable in overcoming them. It strengthens your resolve. I experienced robberies of my first three properties. One home, in particular, was ravished of all its property not only once, but twice. I had to replace everything that was stolen at a time where I was still very green in this industry and was facing plenty of uncertainties about how to handle these issues. It’s very unsettling when you are working your hardest only to have something special taken right from under you. Nonetheless, we bounced back.
This also took place when I was working as an engineer in Houston, Texas, which only served as an additional struggle, but complaining served no positive purpose. I always move forward.
Finding capital has also been a challenge. Finding a mentor as well. I discovered that many mentors charge and except for my first mentor who introduced me to the industry, I don’t currently have one despite my efforts. It‘s been difficult finding genuine connections that hold tremendous value. As I continue on my journey, my goal is to work with others in a way that is always authentic, mutually beneficial and morally compatible.
I believe when entering anything with minimal or no experience, you must prepare your mindset for challenges that are going to come. There are no avoiding barriers if you have intentions of conquering goals and distinguishing yourself from all others.
Please tell us about you business.
I invest in neighborhoods. I invest in people. I invest in the Detroit community and beyond. I hold the utmost pride in providing an enhanced lifestyle to communities by renovating properties that face dire needs and are eye sores within the community through Revere Estates.
While we specialize in the renovation, general contracting, developing and investing, I believe we are best known for serving as high energy, high vibrating, and experts who are buying our communities and delivering exceptional products to the Detroit market. The nature of our business is the community and familial uplift. As an investor, I acquire the properties, gain capital for all, and bring each home to a status that raises the market value of the area by delivering a product that is exceptional and is above the current market rate.
In my developer and contractor role, I focus on the action plan of developing and executing a strategic plan for my team to follow and utilize for completing renovation projects most efficiently and successfully. Subcontractors are hired to conduct all the heavy lifting necessary to make a home beautiful.
We have transformed 13 homes in three years and we are now in the season of scaling. I am most proud of my team’s resilience and tenacity through every barrier. The trusted members of the Revere Estates group have demonstrated time and time again, their immeasurable willingness and ability to withstand turbulence to drive our goals to the finish line. Numbers are everything in this business, but I see commitment as the truest measure of success because we are faced with recurring challenges and must be prepared to accept them as they come. As a collective, we steer forward with grace and that has spoken volume for us. In the city of Detroit, I believe it is our character that holds our valuable difference and will serve as a thriving force behind our continued growth and success. It is my mission to establish a footprint through Revere Estates that resonates with residents and neighborhoods in a way that earns their trust and belief that we are truly invested in making their lives better.
So, what’s next? Any big plans?
We are undergoing dramatic shifts within our operations. We are working diligently toward liquidating our entire portfolio to maximize profits to invest in larger scale projects including apartment complexes. By elevating our assets, we can look forward to stronger returns that earn us greater cash flow which leads to endless possibilities for our company’s future portfolio. I am extremely proud of the scope we’ve covered in just three years as an emerging company, and therefore, am invested in propelling us forward with projects that extend our capabilities and impact. Furthering our initiative, we will continue to create more ways to increase our fix and flip deals. We are always focused on strengthening our internal processes to execute at a quicker and more efficient pace.
Contact Info:
- Website: Cashrichprofessionals.com
- Phone: 313-405-5443
- Email: theeinvestor2.0@gmail.com
- Instagram: https://www.instagram.com/mr.revere/
- Facebook: https://www.facebook.com/darius.barrett.5
- Twitter: https://twitter.com/mr_revere_
- Other: https://www.youtube.com/channel/UCsAXnL-LpnqYYa82iQB1ghQ?app=desktop
Image Credit:
Credit photographer instragram @backdropcharlie @iamcharlieg.
Credit the group photo with everyone in white shirt as Washburn Community Service
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