This was our first BP Con, and we had and unforgettable time. Here is our BP Journey.
Hey, BiggerPockets Community,
We wanted to share our story because, well, it's a bit of a rollercoaster, but it's proof that resilience, learning, and adaptability can lead to incredible success in the real estate world.
Our journey began in 2015 when we discovered BiggerPockets. At that time, we were eager to learn but had zero experience in real estate. Kevan had a background in construction since 2006, while Ayesha's expertise lay in early childhood education. We spent the first two years absorbing knowledge, growing our network, and gaining experience.
Our first deal didn't come until later, but it was a game-changer. After listening to an episode of BiggerPockets, we decided to take out a HELOC on our existing home to buy our first flip from Xome. Yes, Ayesha was just 23 when she bought that home! We eventually turned it into our first rental property and moved on to our next home.
We didn't stop there. We sold that flip, bought another home on Xome, and embarked on a gut renovation that took our projects to the next level. By 2019, we felt confident enough to go full-time into real estate. Little did we know that this would be the most challenging yet transformative year of our lives.
We acquired over 32 properties in 2019, but here's the twist – we ended up losing over $300,000 from flips. It was a devastating blow. We had to audit our business, make tough decisions, and, unfortunately, let go of some staff.
But here's where the story takes a turn for the better. We pivoted into new construction, capitalizing on Kevan's extensive construction background in both residential and commercial projects. We rebuilt our company from the ground up, rebranding it as Park Street Homes.
Fast forward to today, and we're closing in on 20-40 homes a year, achieving nearly $4 million in revenue in 2022. In a significant milestone, we took Park Street Homes public via StartEngine at a remarkable $20 million valuation. Our team has grown to 12 individuals, with Ayesha leading the sales team and Kevan overseeing construction operations.
This truly is a BiggerPockets success story. Kevan has listened to over 300 episodes of BP and credits BiggerPockets for being the foundation of their real estate education.
Our journey is a testament to the power of persistence, learning from losses, and adapting to change. We hope our story inspires others facing challenges in their real estate ventures.
In 2019, we also launched the Marriage and Real Estate Podcast to document our investment journey and assist other couples in navigating the world of real estate while strengthening their relationships. This podcast delves into topics such as harmonizing family and business, achieving common goals, fostering effective teamwork, and nurturing the love that underpins it all.
Our aim is clear: empower couples to attain financial freedom while building enduring and thriving bonds because we firmly believe that a strong partnership is the key to success, be it in real estate or in life.
We're grateful for the BiggerPockets community and the incredible support we've received throughout our journey. If you have any questions, want to share your own experiences, or simply want to connect, please feel free to reach out. Remember, in real estate and in life, the journey is just as important as the destination. Let's continue to learn, grow, and prosper together!
To your success,
Kevan and Ayesha Shelton
