We’re excited to introduce you to the always interesting and insightful Darryl Jones. We hope you’ll enjoy our conversation with Darryl below.
Hi Darryl, thanks for joining us today. Let’s start with a story that highlights an important way in which your brand diverges from the industry standard.
Absolutely, we do things differently from the industry standard, and it’s this innovation and willingness to think outside the box that truly sets us apart.
In the real estate industry, the typical approach for investors is to finance a single-family house for 30 years, rent it out, and earn about $200 in profit each month. While this model works, it essentially keeps investors tied to the bank for three decades. My mentor introduced me to a more innovative strategy, which I then enhanced with my own creative ideas.
Our approach is to “Be the Bank!” By leveraging creative financing techniques, we shift the advantage from traditional banks to ourselves. This allows us to maximize profits, minimize risks, and enjoy a more relaxed and lucrative investment experience. Instead of being burdened with tenant issues and property repairs, we focus on smarter financial strategies that put us in the position of the bank, collecting consistent returns without the typical headaches.
This philosophy of challenging the norm and embracing innovative solutions is what drives our success and sets us apart in the industry.
Awesome – so before we get into the rest of our questions, can you briefly introduce yourself to our readers.
For those who may not be familiar with me, my journey into the real estate industry is deeply rooted in my personal experiences growing up on the southside of Chicago. It was a challenging environment, filled with its fair share of struggles and hardships. As a child, I didn’t have a clear vision of my future career. However, a significant part of my upbringing involved frequent moves and even periods of homelessness, where my family and I found refuge in shelters. These experiences planted the seed of my passion for real estate at a very young age. I made a promise to myself that when I grew up, I would buy my mom a house.
My real estate journey took a more defined path during my time at The Ohio State University. It was there that I met a professor who introduced me to the world of real estate investing. He shared with me the transformative potential of real estate as a means to build wealth. This knowledge became actionable in my junior year when my roommate and I purchased a four-unit property. We lived in one unit and rented out the other three, quickly realizing the significant income we could generate passively. This was a pivotal moment that affirmed my professor’s teachings and solidified my career choice.
Years later, I founded Wolf Eyes Realty, a company dedicated to purchasing commercial multifamily apartment buildings and single-family homes. My childhood experiences continue to fuel my motivation and drive. At Wolf Eyes Realty, we are committed to providing individuals with quality housing and helping them achieve the American dream of homeownership. Our portfolio spans across the Midwest, with properties in Chicago and Ohio, and extends into the Southeast, including Georgia and Texas.
What sets Wolf Eyes Realty apart is our deep understanding of the communities we serve and our genuine commitment to improving the lives of our tenants. We don’t just see properties; we see homes and the people who live in them. Our mission is to offer not just a place to live, but a place to thrive. This empathetic approach, born from my own experiences, resonates throughout our company.
I am most proud of the impact we’ve had on our communities and the lives we’ve touched through our work. For potential clients, followers, and fans, it’s important to know that at Wolf Eyes Realty, we are driven by more than just profits. We are driven by a mission to provide stability and opportunity, much like what I strived for growing up. Our work is a testament to the belief that everyone deserves a place to call home, and we are here to make that belief a reality.
We’d love to hear a story of resilience from your journey.
In the early days of my real estate career, I encountered a challenge that tested my resilience and determination. It was my first major investment: a dilapidated house in a struggling neighborhood. The property had been on the market for months, with potential buyers deterred by its extensive repairs and the declining area. However, I saw potential where others saw only risk.
After securing the property, the reality of the extensive renovation work set in. The house needed a new roof, plumbing, electrical systems, and significant cosmetic updates. Each day seemed to reveal another costly issue. Many advised me to cut my losses and abandon the project. But I was determined to see it through.
I tapped into every resource I had, learning on the job and leveraging my network for advice and support. I negotiated with contractors, often rolling up my sleeves to do some of the work myself to keep costs down. There were sleepless nights and moments of doubt, but I stayed focused on my vision.
Months later, the house was transformed. It stood as a beacon of potential in the neighborhood, attracting attention from buyers and other investors. I sold the property at a profit, but more importantly, it reinvigorated the surrounding area, inspiring others to invest and renovate.
This experience was a pivotal moment in my real estate journey. It taught me the value of resilience and reinforced my belief in the power of creative thinking and perseverance. It showed me that, with determination and hard work, it is possible to turn challenges into opportunities. This mindset continues to drive my approach to real estate, fueling my passion for finding and unlocking hidden potential in every property I encounter.
Can you talk to us about your experience with buying businesses?
Yes, during the Covid pandemic, I purchased a hair salon. My primary interest was not the business itself, but the real estate, as the salon was located in a highly desirable area. The acquisition process involved extensive negotiations with the owner, which resulted in a favorable price that included all inventory and furniture.
However, the beauty industry was undergoing a significant transformation. After two years, I had to close the salon. The pandemic had prompted many stylists to realize they could earn money from home, shifting the industry from traditional salons to independent suite rentals. It was a paradigm shift similar to the transition from taxis to Uber. In this analogy, I was the taxi.
The key lesson I learned was the importance of forward-thinking. Had I anticipated the industry’s direction, I would have purchased the salon with the intention of converting it into rental suites for independent stylists. Despite the setback, the venture wasn’t entirely unsuccessful. Recognizing the value of the real estate allowed me to make a profitable sale when I eventually sold the property. This experience underscored the need to look beyond the present and adapt to emerging trends, a principle that continues to guide my investment decisions today.
Contact Info:
- Website: https://www.wolfeyesrealty.com