At a young age, Allyssa experienced firsthand the significant impact that real estate can have on your financial well-being. Raised in a humble middle-class family, she observed her hardworking parents diligently follow the conventional trajectory of completing vocational high school, securing employment, marrying, acquiring a home, and embarking on parenthood. Truly, a manifestation of the American dream.
However, in 2010, circumstances took a turn for the worse, and they were forced to sell their house. The financial outcome was devastating due to an overleveraged property in a declining market. At the time, Allyssa was only 17-years-old.
Five years later, Allyssa ventured into the realm of entrepreneurship and real estate. Witnessing the profound impact of her family’s real estate circumstances, she developed a deep-seated passion for assisting others with their housing needs. Starting as a real estate solutions company and later becoming a sales agent, she has spent the past eight years dedicating herself to serving others. Throughout this journey, she acquired invaluable knowledge and expertise. Fueled by her unwavering passion for education, she transformed into a true expert in the field of homebuyer education.
“In today’s housing market, there is a genuine need for education. We can no longer rely on outdated methods that worked for our parents. The landscape has changed,” says Allyssa.
Working closely with buyers, particularly first-time buyers, she has observed a significant issue in the current real estate market. Buyers often have unrealistic expectations and feel overwhelmed by the process of purchasing a house. This challenge is further exacerbated by the rising interest rates and home prices in 2023, placing additional pressure on buyers.
In 2020, Allyssa discovered a valuable strategy. Despite knowing that her dream home was out of reach, she realized that her first property didn’t have to be perfect. Taking a calculated risk, she purchased a multi-family property with three units. Living in one unit and renting out the others, the rental income covered a significant portion of her mortgage. Recently, Allyssa leveraged the appreciation of this property, which has increased by almost 30% over the past three years, to obtain a home equity line of credit and purchase another house.
While this approach is excellent, it is not the only way. Allyssa has assisted numerous clients in recent years in acquiring smaller properties that they renovated or allowed to appreciate. They were then able to sell these properties for a substantial profit, using the proceeds to purchase larger, better properties. Allyssa believes that the American dream of homeownership is still attainable, albeit with a different approach. She emphasizes the importance of acquiring a “SMART” first property – one that is financially Sustainable, Minimalistic for your needs, has potential for Appreciation, allows for Renovations, or offers Tenant opportunities. This approach can serve as a stepping stone towards achieving your dream home and financial success.
“You don’t need to have a background in real estate investing to leverage your home financially, you just need to make strategic housing decisions” says Allyssa “and in this economy and real estate market, most aspiring homeowners don’t have any other choice.”
“The most common feedback I receive from homebuyers is ‘I wish I had learned this in school,'” explains Allyssa. “So, I took that plea for help to heart and created a solution.” There is an abundance of knowledge to acquire when preparing to purchase a house. Beyond the complex terminology, there are fundamental principles that one must understand in order to make informed decisions. Sadly, many homebuyers rely on parents or elders for guidance. However, earlier generations had vastly different experiences with real estate compared to the present day.
For instance, back in 1990, the average home price in MA was $162,000, while the average income stood at $61,000. This meant that, on average, individuals were spending just over double their annual salary to buy a home. Fast forward to 2023, and the average home price has risen to $498,000, while the average income is $86,000. That’s nearly six times the average yearly income. “It’s an unfortunate reality, but we must adapt and learn to identify opportunities within this disparity. Because the alternative is spending your hard earned income on rent contributing to someone else’s equity while you could be paying into your own asset.”
Allyssa is gearing up to launch “The ULTIMATE Homebuyer Course” in the coming months. This comprehensive, self-paced, 100% online course aims to bridge the gap between purchasing a home and making a wise financial investment. Allyssa will delve into various topics, including how appreciation works, the merits of real estate as a sound investment, the current landscape, and provide step-by-step guidance for first-time homebuyers. Her mission is to empower individuals with the confidence and knowledge they need throughout the entire home buying process. Allyssa firmly believes that everyone deserves the opportunity to achieve the American dream and that confident, strategic decision-making is the key to attaining it.
