It’s not every day that you hear of a young Black man getting fired from his dead-end $38,000 a year call center job only to then end up running a successful seven-figure real estate business in just a few short years. But this is precisely what happened to Nasar El-Arabi.
A native New Jerseyan, Nasar’s parents always emphasized that he could be anything he put his mind to, including wealthy, and to try his best. At eight years old, he quickly discovered the importance of making his own money when his mother told him she wouldn’t purchase a Darkwing Duck toy he wanted. “You have enough toys,” she said but didn’t deter him from finding a way to get another on his own. In selling candy and saving profits, Nasar realized that there were no limits to what he could attain. While he saved enough for the toy, he decided against buying it. Making money and saving it was more satisfying to his young soul.
When Nasar was 19-years old, he was introduced to the power of real estate and the potential money to be made in it when he overheard his father discussing with a friend the recent house flip his neighbor had just completed. “The owner sold it to the investor for $150,000, the investor put $20,000 into it and then sold it for $270,000,” Nasar recalls. After hearing that, he knew that real estate was the path toward the financial independence he sought. A few years, barely informed and full of motivation, Nasar and a friend invested a total of $32,000 into an investment property & ended up losing $14,000. That hard lesson was one that he would carry with him the rest of his life. “I realized that I had to learn about real estate before investing in real estate. I never learned about real estate; I just hopped in,” he said. Despite that significant loss, Nasar understood that he’d come out on top if he gained some more education.
It wasn’t until the abrupt firing from a dead-end job that Nasar took the true leap of faith to commit to a business in real estate investing entirely. At the height of the 2008 recession and right out of college—he got a low-end $10 an hour call center job. “Those were the only places hiring,” he said. “Life in the call center was terrible. When I would head into work on Mondays, it was like having a refrigerator on my back. I didn’t like it there, and I knew it wasn’t my calling. I didn’t’ go to college for this.” It wasn’t until he got his hands on a copy of Rich Dad Poor Dad that Nasar began to understand the fullness of the options and opportunities that lay in wait for him.
Today, Nasar is a seven-figure real estate investment mogul dedicated to showing people pathways to financial freedom using real estate through his YouTube teachings, books, and events. While it wasn’t enough for him to build his wealth, Nasar believed he had a responsibility to help usher others out of hopelessness and into hope and financial freedom, especially those within the Black community.
Inequity.org shared that “a report released by the United States Department of Agriculture, Who Owns the Land,” revealed that “[Black] Americans, despite making up 13 percent of the population, own less than 1 percent of rural land in the country.” It was also reported that homeownership rates show that Black Americans are currently the least likely group to own homes.”
“It’s important to teach Black Americans about owning real estate because it puts them in a position to OWN not only real estate but their time,” Nasar shared. “Before 1968, Black Americans legally could not own land in certain places in America. This hit close to home because my father could not own property anywhere until after 1968,” he shared. “Certainly, a lot of Black families did not teach wealth building because the law excluded them based on their skin color. But today, we have an opportunity to change that.”
Despite the many challenges that surfaced throughout his journey, Nasar believes that if you can look up, you can get up.
“If you’re in a dark place, I strongly recommend that you figure out where you want to go. Try to figure out what your passion is. If you don’t know, then try to put yourself into an industry where you can make a good income. It’s better to be depressed with $10,000 in the bank than depressed living check to check.”