Many real estate investors look back on their lives and wonder why they didn’t get into the game sooner. Not so with Jonathan Farber, today’s guest. At 26, he’s juggling a W2 job with investing, having already signed four single-families and a four-unit property. He attributes his success with his ability to take action. We open by talking about Jonathan’s first steps into real estate and he shares a story about how he cold-called the CEOs of Fortune 500 companies as he neared his college graduation.
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Later, Jonathan opens up about how seeing his parents undergo financial struggle in 2008 created a strong motivation to be financially free. After discussing how COVID has caused people to put their 2020 goals on pause, Jonathan highlights how having to work remotely presented him with an opportunity. Reflecting his focus on taking action, he temporarily moved to the Midwest to gain a better perspective on the markets there. Jonathan talks about his approach which is to turn situations into games and to create processes that result in the most impact from the least amount of work. We ask Jonathan about the systems that he’s developed before he talks about how he finds his deals. Throughout our conversation, Jonathan points to the strategies, books, or people who have helped him grow. Tune in to hear these strategies and to learn Jonathan’s formula for taking action.
Key Points From This Episode:
- How Jonathan got into real estate and his tendency to ‘go all in’.
- Why having a base can help you to take action; “just jump in and learn along the way.”
- Spending time in the Midwest to understand that market and scout your potential deals.
- Jonathan’s game plan; target markets with cash flow and appreciation.
- How COVID has caused people to lose sight of their 2020 goals.
- Making the most out of your youth to learn the game and generate wealth.
- The source of Jonathan’s motivation and the dangers of having one stream of income.
- The value of turning situations into games or putting systems into place.
- Cold-calling CEOs of Fortune 500 companies to build a network and fish for opportunities.
- How starting a podcast has helped Jonathan develop better workflow processes.
- Building a network through BiggerPockets and Facebook groups.
- Jonathan’s formula for taking action; just do it, then put a system around it.
- Hear about the systems that Jonathan has put into place for his business.
- Why your time is important and the importance of delegation.
- Using Upwork to find VAs and what you can learn through that process.
- The most challenging deal that Jonathan has worked on so far.
- How Jonathan found investors for his $650,000 luxury flip.
- Learn what Jonathan does to find new deals by dealing with property managers.
[bctt tweet=”When COVID hit, many people lost sight of their 2020 goals. There’s nothing to lose by focusing on, ‘What actions can I still take to progress me towards my goals during COVID?’ — Jonathan Farber” username=”whitney_sewell”]
Links Mentioned in Today’s Episode:
About Jonathan Farber
Jonathan Farber is a 26-year-old side hustle investor currently living in Raleigh, North Carolina. He grew up in Long Island and spent three years in Raleigh working in software. Jonathan started investing in real estate by acquiring single-family rentals. In total, he has four single-families and one four-unit through the house hacking strategy. The host of the Millennial Millionaire Through Real Estate Podcast, Jonathan is an avid golf player who enjoys personal development and trying new things.
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