Kita Holmes has 20 years of experience working in real estate. She is president of 5 Star Property Management in Maryland and Washington, D.C., and also passionate about teaching others about building wealth. Rolling out asked Holmes about investing during a global pandemic.
How did you get your start in real estate?
I was first exposed to real estate when I was 19 years old. I didn’t know what career I wanted to pursue, so I didn’t take real estate seriously. A few years later, at the age of 26, I pursued real estate again. I started out doing executive office suite leasing and began learning the industry. Then, unfortunately, 9/11 happened, and my employer gave me an ultimatum to either take a lower position or a severance package. I was confident in my skills, and I decided to take the severance package and invest in myself. From there, I went to real estate school and began working for Coldwell Banker. Within my first year, I closed 50 transactions, doubled my salary and was named rookie of the year.
What’s your best advice for people looking to transition into real estate during this tough economy?
Now is the perfect time. With stay-at-home orders in place due to COVID-19, there is an abundance of time to invest in yourself. My personal motto is “Opportunity is in Chaos.” An economic downturn is a perfect time for the underdog to come out on top. Now is the time to transition into a career in real estate. Despite the damage COVID-19 is causing the economy, the real estate industry is stable. My best advice is to start now. A good starting place is by reading the book The Millionaire Real Estate Agent by Gary Keller.
Continue to the next page to check out Holmes’ top five wealth-building investment tips.