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Money Tips: Millennial millionaire says real estate is always going to be good bet. Bad debt is the credit card.

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Two-time Emmy and Three-time NAACP Image Award-winning, television Executive Producer Rushion McDonald interviewed Dr. Justin M. Lee.


Purpose of the Interview

  • To showcase Dr. Lee’s journey from a young real estate agent to a multi-industry entrepreneur.
  • To inspire listeners with strategies for wealth-building through real estate, construction, and logistics.
  • To encourage financial literacy, ownership, and collaboration within underserved communities.
  • To issue a call to action for minorities to explore opportunities like Amazon DSP and real estate investment.

Key Takeaways

  1. Early Career & Education

    • Started young in real estate, embraced discomfort in rooms dominated by older professionals.
    • Leveraged millennial tech skills (social media marketing) to help veteran brokers grow.
    • Earned a doctorate degree and became a licensed real estate broker.
  2. Social Media as a Business Tool

    • Built a strong presence on TikTok (90K followers) and other platforms.
    • Helped older real estate firms thrive by creating digital visibility.
    • Emphasized that “business must look as good online as in person.”
  3. Financial Literacy & Homeownership

    • African-American communities often lack foundational financial knowledge.
    • Key barriers: misunderstanding credit, fear of debt, and lack of exposure to ownership benefits.
    • Advocates teaching the difference between good debt (real estate) and bad debt (consumer credit).
  4. Real Estate Process

    • Initial onboarding: credit score, income, tax filing.
    • Connect clients with lenders, secure pre-approval, then negotiate and close within 30–45 days.
    • Uses property tours as motivation even for those not yet approved.
  5. Pooling Resources for Wealth

    • Industry dominated by white men and foreign investors who use syndication.
    • Dr. Lee created a private family fund with fraternity brothers and friends.
    • Acquired 150+ apartment units and commercial properties by pooling resources and forming LLCs.
  6. Amazon DSP Opportunity

    • Owns an Amazon Delivery Service Partner business (42 trucks, 200 employees).
    • Offers minorities a chance to apply for DSP with $10K grant.
    • Taught him true CEO skills: HR, payroll, compliance, and scaling operations.
  7. Construction Business

    • Entered construction after experiencing exploitation in fix-and-flip projects.
    • Learned the business side (permits, change orders) and got licensed.
    • Built major projects like a 10,000 sq. ft. restaurant in Atlanta.
    • Advocates for Black representation in construction, an industry dominated by whites and Hispanics.
  8. Personal Background

    • Raised in New Orleans during Katrina by a single mother and grandparents.
    • Mother invested FEMA checks into real estate, teaching him property management and renovation skills early.
    • Believes knowledge is power and emphasizes planning and consistency.

Notable Quotes

  • On embracing discomfort:
    “I learned to embrace the uncomfort and make it one of my biggest strengths.”

  • On social media:
    “You have to make your business look the same way online as in person.”

  • On financial literacy:
    “Real estate is always going to be good debt. Bad debt is the Macy’s card.”

  • On collaboration:
    “Pooling resources shows how far we can go and how fast we can go—but together.”

  • On planning:
    “If you don’t plan, you plan to fail. All you have to do is stick to the plan.”


#SHMS #STRAW #BEST

 
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