Dexter B. Jenkins Of Dominion Real Estate Holdings On Five Things You Need To Know To Succeed In The Real Estate Industry
Embrace technology as this saves a tremendous amount of time and frees you up to do the important things such as meeting with clients, sourcing new deals, and finding other sources of capital. In full disclosure I am not the most tech savvy person but have people around me who are. The important thing is not to be a dinosaur as you will be left behind.
As a part of my series about the ‘Five Things You Need To Know To Succeed In The Real Estate Industry’, I had the pleasure of interviewing James Wang.
Dexter B. Jenkins is a real estate entrepreneur, financial strategist, and host of Let’s Talk Real Estate. Having spent over two decades in the financial services industry, he leverages his deep knowledge to help others achieve financial freedom through real estate. He is also the author of the newly published The Real Estate Wealth Creator Blueprint: Keys to overcoming fear, lack of money, and inexperience to possess the land.
Thank you so much for doing this with us! Can you tell us the “backstory” about what brought you to the Real Estate industry?
I am the son of a barber and a real estate investor from New Haven, Conn. “My father, Samuel Jenkins, instilled in me the value of ownership — for home and business — as a path to control and leverage. Inspired by him, my wife and I started investing in 2016, aiming to build a legacy through real estate.
Since that time, we have had the opportunity to participate in millions of dollars of real estate transactions in both Massachusetts and Connecticut utilizing strategies such as fixing & flipping, wholesaling, buying & holding, consulting, and project managing.
Can you share with our readers the most interesting or amusing story that occurred to you in your career so far? Can you share the lesson or takeaway you took out of that story?
“A project I consulted on faced a major setback when the general contractor unexpectedly passed away. This disrupted our plan to transform a 6-unit property into a multimillion-dollar asset. Ultimately, the property was sold under less favorable terms, teaching me the importance of always having multiple exit strategies in real estate.”
Do you have a favorite “life lesson quote”? Can you share a story or example of how that was relevant to you in your life?
My favorite life quote comes from the bible. Jesus in John 10:10 states that he has come that we might have life more abundantly. This verse inspires me to embrace abundance, which aligns with my mission to help others achieve financial freedom through real estate.”
Are you working on any exciting new projects now? How do you think that will help people?
I just finished writing my first book on real estate investing titled. The Real Estate Wealth Creator Blueprint: Keys to overcoming fear, inexperience, and lack of money to possess the land. The book is designed to inspire people to move past middle class financial thinking and serve as a guide for individuals looking to start investing in real estate.
Additionally, we are also preparing for our 3rd Annual Real Estate Wealth Creation Summit in April. Real Estate investors from all over the country will descend on Boston in order to grow, learn, and connect.
What do you think makes your company stand out? Can you share a story?
We combine faith-based principles with comprehensive education, guiding clients through challenging real estate projects with both wisdom and encouragement.
The story I spoke of earlier with the legacy project that was altered due to the death of the general contractor. Not only did we help our client make wise financial and real estate decisions. But we were also able to encourage them and help them to lean on their faith during a very stressful time.
None of us are able to achieve success without some help along the way. Is there a particular person who you are grateful towards who helped get you to where you are? Can you share a story about that?
My wife is my partner in all of my endeavors. Business in and of itself is not easy but it is especially hard when you do not have spousal or family support. In our division of labor most often I find or source or projects and she beautifies them and keeps great financial records.
I do not have a particular story as all of our projects have flowed this way. I will say that learning to work with your spouse or partner is an ongoing process. I believe a major key is knowing what they do well and staying out of their way.
Ok. Thank you for all that. Let’s now jump to the main core of our interview. Can you share 3 things that most excite you about the Real Estate industry? If you can please share a story or example.
The real estate industry is exciting because I believe real estate is the lowest hanging fruit on the wealth creation tree. Meaning there are so many avenues to build wealth with real estate without having to be super intelligent or have tons of money.
Real estate also allows for one to leave a tangible legacy for their family. I am of the belief that most people want to leave some sort of financial legacy behind and real estate allows you to do that. I can speak from firsthand experience as my father left cash flowing rental properties when he passed.
Real estate is great because you can create win-win scenarios for so many people. Most of my experience has been on the investing side where my wife and I have had the privilege of taking run down properties and turning them into new homes for people.
We were able to do well as we were doing good by 1. Securing quality housing for families 2. Putting a run-down piece of real estate back on the tax rolls which creates revenue for the city. 3. Employing local trades persons which helps to boast the local economy.
Can you share 3 things that most concern you about the industry? If you had the ability to implement 3 ways to reform or improve the industry, what would you suggest? Please share stories or examples if possible.
One of the challenges I see in the industry is the aging of tradespeople. Many of the skilled carpenters, plumbers, masons, etc. are retiring. This leaves a tremendous void that needs to be filled. I am of the opinion we need to begin highlighting the benefits of using one’s hands to earn income. There needs to be a continued push to get more young women and men to attend trade schools.
The affordability of housing is another challenge as this limits the amount of people that can achieve the American dream of becoming homeowners. History has shown that homeownership and the owning of real estate can play a key role in helping individuals build financial security.
There has to be a comprehensive plan put together in our country that consists of down payment assistance, affordable rates for mortgages, and favorable conditions that will allow developers to build more houses which increases inventory and drives prices down.
My third challenge would center around the fear that people have in general. With the political climate we are currently in, along with other factors, many people are hesitant to buy or invest. I am constantly sharing with people the soundness of real estate no matter what is going on. if you conduct your research and do your due diligence real estate is still a solid investment.
What advice would you give to other real estate leaders to help their teams to thrive and to create a really fantastic work culture?
In an ever-changing world the teams that are competent, flexible, and purpose driven are the teams that have great success. Leaders must create environments and cultures where people are valued and challenged at the same time. Everything rises and falls on leadership!
You are a “Real Estate Insider.” If you had to advise someone about 5 non-intuitive things one should know to succeed in the Real Estate industry, what would you say?
The first thing I would mention is that real estate is about marketing and branding yourself. You cannot be a secret agent and be successful in this industry. I am always encouraging newer investors to put out educational content and to document their journey on social media. The goal is to be top of mind when someone has a question regarding real estate. This strategy has paid off well for us in our business as connections, resources, and sales have a come as a result of being visible.
Embrace technology as this saves a tremendous amount of time and frees you up to do the important things such as meeting with clients, sourcing new deals, and finding other sources of capital. In full disclosure I am not the most tech savvy person but have people around me who are. The important thing is not to be a dinosaur as you will be left behind.
Associate with people who are more successful than you are in whatever type of real estate you are involved in. I have found that people who have achieved a high level of success are more than willing to share their knowledge. The old saying of you will be become who you associate with the most is true.
Investing in mentoring is another thing that I see as essential if you want to succeed in this industry. The best performers in any industry have coaches. In my opinion it is foolish to not have mentors as they can accelerate your results. I have found that you pay for mentorship with either your time or your money. Whatever the payment is, that payment, is the admission to your next level of success. My wife and I have invested thousands of dollars in ourselves through coaches which has helped us tremendously.
Address any limiting beliefs that you might have around money, wealth, and success. Our society has trained us to have a love hate relationship with money which can limit your real estate success. I recently had a call with a young man where we discussed the subject of what is too much money to earn. He was just beginning to make decent income and was questioning was this okay. I basically had to share with him how there is enough financial resources to go around as we live in an abundant society.
Because of your position, you are a person of enormous influence. If you could inspire a movement that would bring the most amount of good to the greatest amount of people, what would that be? You never know what your idea can trigger. :-)
“I’d inspire a movement where people fully embrace their God-given potential, breaking free from limitations to create lasting impact and wealth.”
How can our readers further follow your work online?
I am Dexter B. Jenkins across all social media outlets. With LinkedIn being my favorite. They can also go to DexterBJenkins.com where we have a number of financial literacy and real estate wealth creation resources there.
Thank you for your time, and your excellent insights! We wish you continued success.
