Meet Tricia Lee, Real Estate Champion: Rising Star of Netflix’s ‘Owning Manhattan’ – Essence

Tricia Lee was a lady. Long before she wowed Netflix viewers along with her enviable style, personable personality, and savvy business acumen on the hit series, which was just renewed for a second season, she was giving her elementary school friends bathroom makeovers. As she grew, so did her entrepreneurial spirit. “In college, I would do other students’ makeup before parties in my dorm room,” Lee recalls with a smile. “I always wanted to be an entrepreneur.”

Lee, who’s of Jamaican descent, was born in Brooklyn, New York, raised in Arizona, and moved back to the Big Apple after college, where she’s lived for 23 years. A proud member of Alpha Kappa Alpha Sorority, Inc., Lee desired to work in the wonder and fashion industry—and she or he did. After climbing the ranks at cosmetics giant Estée Lauder, Lee joined cult favorite makeup brand MAC Cosmetics within the brand’s early days and quickly rose through the ranks. Then, in 2005, Lee opened The Polish Bar in the center of Brooklyn. Her chic beauty salon also offered waxing, makeup, and lashes to her trendy clientele. In 2016, Lee desired to try her hand at a brand new field: real estate. The small-time powerhouse closed her beauty business to pursue real estate full-time and concentrate on learning a brand new craft. Her drive paid off. Eight years later, it’s winning the hearts of people around the globe because of the Netflix series.

We managed to squeeze in a bit interview with this savvy businesswoman about her daring profession moves, the realities of working along with her husband – and the surprising the explanation why buying real estate is more attainable than most of us realize.

ESSENCE: Congratulations in your success ! The show was ranks in the highest 10 in over 40 countries worldwide. What have your opinions been for the reason that series debuted?
TRICIA LEE: Most of the feedback is, “I need to watch more of you! They don’t show you enough.” Sometimes that annoys me because it isn’t my show. It’s Ryan [Serhant] show. My family, people near me, usually are not surprised by the show and the general public opinion I receive. I also discovered that I’m superb in front of the camera. [laughs]

ESSENCE: We discovered that you just work along with your husband, Jeffrey St. Arromand. You each have even been guests on ! What does constructing a business along with your spouse appear like?

LEE: I believe we may very well be rather a lot more decoupled from our marriage. We haven’t got all of it discovered yet. We’ve set some boundaries. But it’s hard. I don’t need to be the boss on a regular basis. I need to be soft. I don’t need to must select. I attempt to separate it. We’re kind of like yin and yang in relation to strengths. Jeff is more of a curious type. He can sense the energy of the client or the vendor. Whereas once I walk right into a house, I take a look at the interiors and the aesthetics. I believe, “Oh, this needs to change. Or this needs to change.” He doesn’t take a look at those things. When a client works with us, they get two different strengths, but they’re only paying for one.

ESSENCE: You are such a refreshing example of a successful black woman on reality TV. How does that make you are feeling?

LEE: Honestly, I just desired to be myself. You’ll see some attitude. You’ll see some humor. You’ll see some gentleness. You’ll see all of that, because that is all I’m. I’ll talk my mind, because I even have every reason on the earth to be confident. And sometimes I’ll be nervous, because I’m beginning to tackle parts of this business which might be recent to me. I can not control how people perceive me. It’s not my business. I don’t need to own it. I believe it’s great that individuals have accepted me so well. I believe it’s higher that I do not live and die by this, like most individuals would.

ESSENCE: Amen! Speaking of women and property, what are some creative ways we will get into the true estate game with lower than ideal funds or resources?

LEE: How much does it cost you to attend to own a house? More single women are buying homes now than single men. Imagine that. Forty years ago, you could not even get a mortgage with no man’s signature. So owning a house must be viewed as an asset-constructing issue, similar to where you reside. But sometimes we wish to examine off other things first. For example, you wish to get married, you wish to have a baby, and you wish to buy a house. Well, how much does that waiting cost you in the true estate conversation?

When we girls take a look at buying real estate as constructing assets, we’re more prone to do it with our mom, our sister, our greatest friend. So possibly you may’t afford a Bed-Stuy brownstone that you just buy by yourself. But possibly you and I should buy it together. Maybe in five years we’ll have 2 or 3 of them. Too often we devalue our own communities. But we’re seeing a revival in places like Detroit and Baltimore. Thankfully, individuals are starting to grasp that. Don’t underestimate the proven fact that you begin where you might be.

GIST: I’d like more advice for first-time home buyers.

LEE: Credit, money, and criteria! What is your credit rating? How much money do you might have not just for the down payment, but in addition for closing costs. Criteria: You must know the way much your needs and needs will cost you. When buying a house, your budget is the deciding factor. What are your criteria for must-haves and negotiables? For example, the very first thing I normally ask my clients is: What is your timeline? 2 months or 2 years? What are your criteria? Type of home (apartment, single-family, multifamily), size, price, and site. Here’s a tip… Budget and site are the true questions on this case.

THE ESSENCE: How do you already know if you’re ready to begin searching for a house?

LEE: If you do not know if you’ll be able to buy a house, nevertheless it’s a brief-term goal (about 18 months), contact a mortgage lender for a financial assessment. You must know the way much you may save in that point, what you may afford based in your credit rating and income. You’ll have a plan of motion. The house hunt starts if you’re able to shop.

ESSENCE: We hear rumors about unusual 40-12 months mortgages. What do you think that?

LEE: 40-12 months mortgages can work, especially in case you plan to purchase and hold for some time. They can dramatically offset the monthly maintenance fees. That’s an enormous help with current rates of interest, nevertheless it also lets you buy more home at a cheaper monthly cost. That’s in case you plan to carry for some time.

ESSENCE: You are captivated with empowering women, especially black women, in some ways. How can people be told about your upcoming projects?

LEE: Yes, the following Money Matters event with Tricia Lee will likely be this fall at Serhant [in New York City]. I also organize a luxury event called Dinner in Noir. People can follow me on social media to get updates on @lovetricialee.