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Victor Bomi, founder and CEO of ATLCO Real Estate Inc. has now closed over $3 million worth of real estate acquisitions in the Atlanta area. In addition, with its partnership with E&E Capital Management, his firm manages more than $25 million in real estate assets.
He is just 26 years old.
The Nigerian-American, before focusing his own company, worked as a financial adviser for six months in one of the largest insurance companies in the US. A decision, which in retrospect, looks like a great one.
Bomi’s interest in the real estate sector was not an accident or a new thing. As a student at the University of Georgia, he took classes that offered lessons in financial markets, asset classes and what made them different. This, according to him, was to school himself on what assets investors favored and why them and not others.
“I took one real estate class when I was in college and I can tell you that it didn’t have any real-world applications,” Bomi told Black Enterprise.
When he launched his firm in 2012, then called Bomiventures L.L.C., Bomi was still an undergraduate. The decision to made immediate returns and he had to even step out of classes on several occasions to attend to his business calls. was booming. He was making enough to pay for his apartment, and the volume of work prompted his taking a year off school to attend to his business fully. He, however, returned in 2014 to complete a BBA degree in finance.
After graduation, Bomi worked with an insurance firm but quickly found out that he would rather focus all his energy on building his firm, leading to his resignation after just six months. The months were not a waste as he gained front-line experience on how companies build for longevity, passing down wealth to generations.
“I learned the importance of being a relationship first firm, and how putting our clients’ best interest at heart leads to the long-term success of the company,” Bomi said.
Bomi said he started out working exclusively with hedge funds and high net-worth investors but has since expanded to focus on working-class professionals and families, with the sole intent of helping his clients create financial freedom.
In addition, he has started Bomi’s Legacy Investors Club for millennials who desire to have real estate investing and financial literacy education.
For millennials interested in getting into the real estate business, Bomi has this to say: “You have to understand the pros and cons about investing, and you also need to know what your options are,” he said. “You can put your money in the stock market, but the stock market is volatile and your money isn’t secure against the (stock market) drops. The great thing about real estate is that it is a secure asset no matter what happens, and historically, it has always given more returns than the stock market.”
Source: Black Enterprise
