In this week’s game-changing episode, I sit down for a Q&A with Ugo Opara. Ugo is a Philly-based real estate agent who uses an exciting strategy to help first-time homeowners increase their purchasing power with low interest and zero down payment mortgages. He has learned a lot through his experiences and investment failures and now uses his expertise to walk homebuyers through the character-based lending program NACA. We talk all about Ugo’s slow start with investment properties, what he’s learned along the way, and the ins and outs of the NACA program. Tune in to this truly entertaining Q&A with Ugo!
In This Episode:
- [3:10] How Ugo got started with investment properties
- [6:34] The worst project Ugo has ever had and the realization of the power of contracts
- [11:49] Using education, networking, and a mental shift to turn things around slowly
- [13:50] How Ugo was turned away from single-family projects and what he started doing instead
- [19:55] Ugo’s tricks and tips to finding mislabeled multi-family properties to convert
- [25:20] Ugo’s experience with the NACA mortgage program and breaking down the ins and outs of the program
- [39:32] How to become a NACA realtor and how Ugo benefited from going through the program as a client first
- [42:15] The importance of maintaining your NACA property as a primary residence and what happens if you need to move
- [45:45] What you need to consider before transferring property to an LLC before using NACA
- [48:39] Why maximizing function over money is more important to Ugo
- [50:33] Why all landlords need to step it up in common areas with surveillance and security systems
- [53:44] How to go through NACA while having multiple investment properties
Takeaways:
- It doesn’t matter how hard you work. You have to be smart. You can be a good person with good intentions and never reach success because there are specific rules you have to play by.
- If you want to use NACA, start the process early. Ask yourself if you’re willing to stick it out with NACA to benefit from it in the end.
- When it comes to NACA, it’s not about how much you make. It’s about how you manage your money. Most people taking advantage of NACA don’t actually need it.
- If you’re willing to take the time with NACA, it can help anyone anywhere in the USA to build the real estate portfolio of your dreams.
Links:
https://hy.page/phillyrealestateking
https://www.linkedin.com/in/ugotheagent/
https://www.zillow.com/profile/UgoTheAgent
Guest Bio:
Ugochukwu was born in Nigeria and is the oldest of 4 siblings. He grew up in Yeadon, Pennsylvania (Y-Town). He graduated Bachelor of Science in Finance from Temple University.
He started in real estate as a realtor in 2013, then in 2017 he started investing. Ugochukwu built a portfolio that allowed him to do real estate full time. He has been a top producing realtor for 3 years and counting with over 6+ Million in annual production. He is also a buy and hold investor with a focus on small Multi-family on mixed-use.
Apart from that Ugo loves real estate and is still growing and building the portfolio.
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