ALLENTOWN, Pa. — Applicationsare open for an Allentown-based entrepreneurship program that trains new real estate investors how to buy rental properties.
The goal of The Real Estate Lab is to teach local residents the tricks of the trade so they can successfully acquire and maintain properties, revitalizing Lehigh Valley neighborhoods as a result, according to a news release.
Lehigh Valley residents who have a high school diploma and hold a job are eligible to participate in The Real Estate Lab.
Prospective students of the program must also have the ability to borrow money within one year — The Real Estate Lab provides credit counseling and other support for this requirement.
Applications for The Real Estate Lab close Aug. 31.
'More than a real estate class'
The upcoming fall cohort will be the fifth group of students to experience the 12-week curriculum. Classes run from September through November.
“This is more than a real estate class," Yusuf Dahl, founder of The Real Estate Lab, said in a news release.
"It’s an opportunity to support the next generation of real estate entrepreneurs, foster responsible property ownership, and strengthen neighborhoods from the inside out.
“Our students come from diverse backgrounds but share a common goal: to learn how to invest responsibly and contribute to the economic health of their communities.”
The Real Estate Lab students will receive training on property underwriting, financing, asset management, landlord-tenant relations and more.
They also benefit from mentorship with industry professionals, access to local lenders and personalized guidance in navigating their real estate journey, the news release said.
The Real Estate Lab is supported through a partnership with the developer, City Center Group, which underwrites the cost of the program.
Since its founding in 2021, graduates of The Real Estate Lab have collectively acquired more than $6 million in real estate assets throughout the Lehigh Valley.
Past students find success
Andrew Santiago, 29, of Allentown, participated in a previous cohort of The Real Estate Lab with his brother, he told LehighValleyNews.com.
While the two bought their first rental property before joining the program, Santiago said they were looking for mentors to help them find further success.
“The Real Estate Lab provided something that I don't believe anything else could have provided.”Andrew Santiago, past participant in The Real Estate Lab
“You could watch all the YouTube videos you want, you could try to do this thing on your own — and some people have been very successful — but you’re going to take some real hits with trial and tribulations [and] just learning,” Santiago said.
“The Real Estate Lab provided something that I don't believe anything else could have provided.”
Today, Santiago owns 40 rental units and said he still reaches out to mentors from The Real Estate Lab when he needs advice.
“The relationships I’ve been introduced to from the lab are undeniably what has me where I am today,” he said.
Another program graduate, Kenny Cruz, 27, of Zionsville, owns two duplexes today thanks to the knowledge he gained from The Real Estate Lab.
“It was very beneficial, great material," Cruz said. "I loved it.”
Cruz also said the network of mentors and experts from the program has helped him in his real estate pursuits.
“If people want to get into real estate or they don’t know how to, I think taking advantage of The Real Estate Lab would be the right step forward,” he said.
“Not only are you learning what it takes, you’re learning from real experienced people.”
