Published on January 31st, 2021 | by Millennium Magazine Staff0
THIS MILLENNIAL EARNED $43,000 AS A PARALEGAL; NOW SHE HAS 7 STREAMS OF INCOME IN REAL ESTATE
by Charlene Rhinehart, Black Enterprise
Detroit-based millennial Lauren Wilson is a real estate entrepreneur who has done it all and then some.
The millennial social media influencer went from making $43,000 per year as a paralegal to building multiple streams of income in real estate. Wilson is a Realtor, landlord, investor, brand ambassador, certified life coach, and vending machine owner. She also has her own line of real estate t-shirts that have been purchased by thousands of individuals.
What’s even more compelling is that Wilson accomplished all of these career milestones by the age of 28. With over 100,000 followers on Instagram, she continues to share words of wisdom to inspire other women to achieve their goals.
“I don’t have any spectacular formula. I worked hard and did what I wanted to do,” Wilson shares in an exclusive interview with Black Enterprise. “Everything didn’t go the way I planned. Some things will be trial and error. But don’t get discouraged. If it’s something that you believe in, keep pushing with your dreams because they can come true.”
Transitioning Into Real Estate
After graduating from Boling Green State University in 2014, Wilson moved to Atlanta without a job. Once she landed in the job market, she became unstoppable. Wilson found herself working multiple jobs, putting in over 70 hours of work a week. Although she received great experiences, she knew that her current positions weren’t something she wanted to do the rest of her life.
Her mom, an experienced Realtor of over 28 years, discussed the idea of Wilson moving back to Detroit to start a career in real estate. Wilson decided to take a crash course in real estate, received her license, and landed her first client from social media within one week of getting started.
“It was so fast,” says Wilson. “It was all happening right before my eyes.”
As her social media following grew, her clientele increased. She sharpened her skills, learned real estate tips and tricks from her mom, and committed to dismantling myths associated with homeownership.
“People think you have to be a certain age or have a certain amount of money. They inflate the actual qualifications to become a homeowner,” says Wilson. “That’s why I always make sure I am putting out information and educating people on the importance of credit and financial stability. This is totally attainable.”
Expanding Her Sources of Income
Wilson has built a successful career in real estate at a young age. But she isn’t one to rest on her laurels.
Wilson has used her real estate experiences to expand her brand and sources of income. Last year, Wilson and her husband added vending machines to their portfolio.
“We purchased three drink and snack machines and four bubblegum machines and we are continuing to build from there,” says Wilson. “We’re able to bring home about $1,000 per machine for passive income [drink and snack machines]. We spend about 30 minutes a week managing each machine.”
“My goal for 2020 was to work smarter and not harder. I wanted to have different investments,” says Wilson. “Whether it was rental properties, home flips, or selling t-shirts, I did not want to work long hours for my money. Vending machines were a way to bring in a nice amount of income without putting a lot of work into the business.”