Meet Henry Washington Jr.: Founder of Independence Realty Group LLC

SPRINGDALE, AR / ACCESSWIRE / October 7, 2020 / Henry Washington Jr. was born in Bakersfield, CA to parents who were formally educated. His father is a retired high school teacher who wore many hats in the business world. His father imparted the entrepreneur seed in him at an early age.

His inspiration to become a real estate investor was born from a panic at night. He married his wife Jessica Washington after knowing each for just one year, and he knew that he couldn't afford the future that he felt his wife deserved. This is after they had conversations about their future home and kids. Currently, they are blessed with an amazing 2-year-old daughter and Jessica is pregnant with their second child.

One night, Henry suddenly woke up and went to the internet to search for ways to make additional income. This is where he came across articles talking about property investment and land lording. So, naturally he became interested in the this venture and and became inthralled with the idea of going into property investments.

The next morning, he reached out to a friend who was a commercial real estate agent and explained his epiphany. The friend gave him a box of real estate books to choose from and he picked Rich Dad Poor Dad. After reading the book, he founded the Independence Realty Group LLC, and this was the start of his journey as real estate investor.

According to Henry, "the main aim of forming Independence Realty Group LLC was to acquire cash flowing assets as an avenue for building generational wealth, improving the community and, empower others at the same time."

He says that the business model is focused on "identifying and buying run-down and abandoned properties before renovating them to offer affordable housing." They sell or rent out the property to the community.

Whether they purchase a house or not, Henry says that their main goal is to "help people." They do this though various ways like paying for legal fees, paying for moving services, referring people to professional real estate agents, paying over due utility bills and mortgage notes so they could stay longer in their homes and enjoy the utilities. He also says that they have purchased an electric mower for a sick homeowner so they could maintain their lawn.

Henry admits, that they perform this even if they decide not to purchase the home.

He says that Independence Realty Group LLC buys property in "As-Is" condition, where sellers don't need to make any repairs regardless of the property's state. The company offers a simple, smooth and clean sale that can be closed at any time depending on the seller– whether the seller needs a quick sale or requires more time to scout for a new property.

Once the sale is closed, the company pays sellers the actual closing costs. Henrys says that there are no hidden costs or charges and the seller gets exactly the offer that was made on the property.

He goes on to say that sellers can pick what they want out of the property. They are however not required to completely clear the property or even clean it. Independence Realty Group LLC takes care of the rest.

Just like any other successful businessperson, Henry has laid out his business goals for 2020. He was able to achieve his goal of purchasing a small apartment community and a storage facility. Other business goals that he has achieved includes becoming a guest on the BiggerPockets Podcast and leaving his day job in corporate retail.

He says that his biggest challenge during the pandemic has been to locate quality properties to purchase. He explains that most homeowners are holding on to their properties due to the financial uncertainty created by the pandemic. This, he says, has prompted them to get creative with their marketing and explore other avenues.

The company has now shifted to small multifamily houses, unlike before when they only focused on single family homes. He says that this is because owners of multifamily housing are able spread the risk.

Henry also says that the company has now leveraged virtual tours to view houses. He adds that they also rely heavily on property managers to evaluate houses.

He says that another way the pandemic has impacted his business is in terms of rent payment. Henry admits that they have had to be flexible and understanding with tenants. They have taken measures like waiving late fees, allowing tenants to split rent payment, and not increasing yearly rent for tenants whose lease was up for renewal.

Henry a man who is passionate and has a clear vision for the future, he encourages people to surround themselves with successful people in the same field they are interested in. He believes that for one to be successful, they need to research and study they craft, then they must take action. One of Henry's favorite quotes is "imperfect action is better than perfect inaction." Harry S. Truman.

Henry's instagram: @independencerealtygroup

CONTACT: 

Henry Washington
Independence Realty Group, LLC
henry@independencerealtygroupnwa.com
(479) 770-9226

SOURCE: Independence Realty Group, LLC

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