London Malveaux is a go-getter whose determination earned her a nursing degree and a position in finance.
She possesses an unwavering dedication, which led Malveaux to graduate from nursing school at 24 years old. She then took the following year to study real estate so she could get into the financial business.
During that time, Malveaux invested in herself through mentorship, reading, joining groups with like-minded people and through networking. A year later at 25 years old, she purchased her first property instead of a car, a duplex in Los Angeles,
This marked Malveaux as a trailblazer, as she was the first to purchase real estate within her immediate family. This expanded her capability to seek after limitless excellence.
Tricia Love: I noticed your mom is very dear and important to you. Was your mom a single mom? What was that upbringing like?
London Malveaux: She was a single mom. I feel like I really get my drive from my mom. My mom used to work at least two to three jobs. I would see her in the morning and then see her before I went to sleep. She showed me what it was like to work hard, but to also have a purpose to work that hard. She had to take care of me. She had to take care of herself. I had a really, really supportive family. She could do those things. I saw her struggle too. Who wants to work two to three jobs and still say I can’t afford that and we can’t do this? She taught me to never rely on a man. You should have your own money. She also told me to go after what I want.
Tricia Love: You’ve mentioned that your dad was one of your biggest influences. What was your dad’s experience with real estate?
London Malveaux: My dad never bought real estate. In my immediate family, besides my grandparents, I’m the f first to buy real estate – and not just real estate investment property. Most people just go for the single-family home, but that is really considered a liability, because all the money has to come out of your pocket instead of somebody helping you. So, I’m the first to do it. I think my dad just had a lot of knowledge on what not to do because he did all those things, and he just didn’t want me to make the same mistakes.
Tricia Love: At what age and what type of property did you buy for your first investment property?
London Malveaux: I was 25 and I ended up purchasing a duplex for my first property and doing what I would call a “house hack.” I lived on one side and then rented out the other side. I also have two additional units that I am in the process of turning into accessory dwelling units, which I will also rent out to tenants.
Tricia Love: One of the things that I think people overlook is the power of investing in themselves and getting knowledge in certain areas. How did you start to invest in yourself and gain knowledge in real estate?
London Malveaux: In the beginning, before I purchased the property, I studied for a year because that’s just my personality. Some people would just dive in. I needed to know the basics — like, if you’re playing a game, you need to know the rules. You don’t have to know every single thing about the game, but you want to limit your risk. Before I sought out any mentor, I invested in myself by reading and going to seminars. I joined a part of L.A. South Registered Investment Advisor (RIA). I also joined a couple different RIAs, but L.A. South is where I stay. I really like it there. I networked with a lot of people who are doing what I want to do. I would say investing time in reading books is where I really learned a lot of my knowledge. After building all that foundation, I sought out mentors.
Tricia Love: Good nuggets of wisdom. Do you think more women should get involved in learning finance or investments?
London Malveaux: I definitely think so. I’m a nurse and I work with a lot of women. When they find out that I’ve invested in real estate, they have a host of questions for me. They ask: “What should I do here? What do you think about this?” Or, “Do you think that this will be a good investment?” I think that women are curious about it, but they just don’t know where to go to get the answers that they need. They don’t have a place they trust to go to ask questions about investments.
I’m a labor and delivery nurse and I’ve seen first hand the brilliance of women. They can do whatever it is that they put their minds to. I think if women know the power of investment they will be unstoppable.
Tricia Love: Did you always know that you wanted to be an entrepreneur?
London Malveaux: I’ve always been a very bad worker. I would see my counterparts and they would get recognized for things. I’ve instead always wanted to march to my own beat of the drum. My mom used to tell me that you have to have your own business because I didn’t like to follow the rules. I’ve always had that in me.
Tricia Love: What are some of your favorite fashion labels?
London Malveaux: Some of the luxury brands I love are: Tory Burch, Michael Kors, Gucci, Louis Vuitton, Chanel, Cartier, Hermès, Christian Louboutin. However, when talking about fashion tips for women, I like to give affordable options to shop at. I want them to be able to pick pieces that look expensive, but aren’t. Here are a couple of my favorites: Tobi, Chic Couture, Fashion is Food, Sheen, New York & Company, Zara, Angl, and of course Fashion Nova.
Tricia Love: As a woman of color, how do you feel about the current time?
London Malveaux: It saddens me because I feel like my ancestors have fought for years just for us to be able to be treated equally. We haven’t fought for years to be living in big mansions; we just want to be treated equally, [but] to this day, we are looked at as less than our White counterparts. It’s sad. I love that we have different movements and so many people are involved in it now. I feel like people are really seeing what people of color go through and the inequality that exists. The Black Lives Matter movement seems to have brought Black people together, as well as other races.
My grandmother picked cotton and she never taught me to look at another person differently than me. She could have been bitter towards those who did that to her, but she wasn’t. She always taught me to treat people fairly, equally, and with respect. If they disrespect you, then that’s a different story. I don’t understand how people can have hatred in their heart for someone just because of the color of their skin. We’re not done fighting yet.
I want to get to a level of success that will not only benefit me, but my family and other people as well. I want to get on some sort of platform to educate someone or save a life because they have a similar story to me. I don’t want them to give up.
Tricia Love: How do you feel about the racial injustices brought to light and the conversations about equality? I hear a lot of hurt, but correct me if I’m wrong. Are you happy that conversations are happening?
London Malveaux: I am happy. There is an awareness that is happening because of this movement. I’ve had conversations where people have told me that we have had the same opportunities and they don’t understand the struggle we went through. I’m glad it has also brought an awareness to not just Black people but other races. It’s more of a united fight to be treated equally. We want everybody to be treated equally regardless of the color of their skin.
Tricia Love: What do you hope for the future children as it relates to equality?
London Malveaux: When it comes to raising kids, it starts in the home. I hope when I become a mother that I’m able to teach my kids the same thing my mom taught me, to show them that they can be whatever they want to be. Nothing can stop them. If you have desire and persistence, you can do it. I hope society accepts them and doesn’t discriminate against them. I want them to be judged off their work ethic. That is my hope. That they can be equal, have opportunities, and be able to succeed.
Tricia Love: Can you share with us some of your favorite books?
London Malveaux: The first book I read, “Rich Dad, Poor Dad.” You have to have a certain type of mindset because you have the ups and downs and you can’t give up. You have to know what you are doing it for. You have to know why it is that you’re doing it. I’ve made several of my family members read it. The next book I read after that was “Cashflow Quadrant” because it continues to build on that mindset. It also shows you how different actions can cause you to fall into different categories. It answers questions like, what’s a liability and what’s an asset. So, I think those two books were my foundation. Then I went on to the “ABC’s of Real Estate Investing.” I began to understand how to run numbers and understand what market research is. It answered a lot of questions for me. Those three books were what I read before I bought my first investment property.
Tricia Love: Any closing thoughts that you want to add?
London Malveaux: The only closing thought that I would say is look out for me. I am definitely going to be making moves and going to help as many people as I can.
Read the full interview at lastylemagazine. com/interviews/londonmalveaux