Shownotes Transcript
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This episode with Chris Senegal was legendary. After having a corporate job as an engineer, he realized that he wanted more out of life. He borrowed from his 401k to put a down payment on a hard money loan to flip his first house. From there he began flipping homes and keeping some as rentals for five years. At that time, he decided he decided that he wanted to do larger projects and control blocks. His first big deal was buying a block in 2013 from someone who inherited multiple blocks in the neighborhood. He converted some of the homes to parolee housing while figuring out how to develop the rest of the block. So far, he's built and sold 5 homes, with the goal of encouraging black professionals to return to the community.
One of his most notable accomplishments is raising $1.07 million to raise a portfolio of 18 houses and 2 vacant commercial buildings near a big development project. His goal was to let others collectively invest in this venture and also to not displace the current tenants. Investors recently were paid their distributions. In this interview we discuss buying back the black, several of his projects, tips for investors and more.
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