Storage Wins EP488: Going from the Rat Race to Closing on 5 Self-Storage Facilities & Achieving Financial Freedom (in Under 2 Years)
Jon Farling has always been in real estate, but he made the jump from single family properties into self-storage only about 2 years ago. Through this venture, he was able to quit his full time job after he secured his 3rd self-storage property. Jon shares some of the positives and negatives of owning self-storage, and offers words of wisdom for those who are interested in this space.
Key Takeaways:
- Alex shares how he met Jon and the success he's achieved so far.
- Real estate has always been in Jon's blood.
- Jon really wanted to leave his job to do self-storage full time.
- Jon dipped his toe in real estate by first starting out in single family.
- How did Jon discover self-storage?
- Jon got 2 deals out of sending out 500 mailers. How did he do that?
- Why did self-storage make sense for Jon?
- Jon had a full-time job and two kids. How did Jon find the time to start up his side hustle?
- There is no magic bullet. You have to put your head down and do the work.
- How did Jon secure his first deal?
- Jon was able to 4x his deal. He shares how on the podcast!
- There are so many benefits that self-storage has that single-family doesn't.
- Jon talks about the SBA loan process.
- Jon's first three weeks of storage ownership was pretty rough.
- What other types of headaches has Jon had in this space?
- What do you do when they don't pay?
- Jon talks about his best self-storage deal to date.
- Jon was able to supplement his 9-5 income with this third self-storage property and finally quit!
- You gotta be committed. You gotta believe in yourself.
- What advice would Jon give his younger self?
MENTIONED IN THIS EPISODE:
Connect with Jon: Facebook
Want to Learn More About Self-Storage Investing? Check out The Storage Rebellion, and let them know that Alex Pardo from the Flip Empire Show sent you 😉
ASCEND:
Don't Wait To Enjoy Your Life Tomorrow, Live It Today! How To Grow Your Business, Expand Your Impact, and Experience Your Perfect Life:
🔊 LISTEN & SUBSCRIBE TO THE FLIP EMPIRE SHOW (PODCAST) on Apple Podcasts ▶︎ http://www.flipempire.com/podcast 📺 SUBSCRIBE TO ALEX PARDO'S YOUTUBE CHANNEL NOW ▶︎ https://www.youtube.com/alexpardo 🚀 How To Grow Your Business, Expand Your Impact, and Experience Your Perfect Life Don't Wait To Enjoy Your Life Tomorrow, Live It Today ▶︎ https://www.AscendYourSuccess.com/
FOLLOW ALEX ON:
★ INSTAGRAM → http://instagram.com/alexpardo25 ★ FACEBOOK → https://www.facebook.com/alexpardo15 ★ LINKEDIN → https://www.linkedin.com/in/alex-pardo★ YOUTUBE → https://www.youtube.com/alexpardo.
. TWEETABLES:
"I knew I was an entrepreneur, I just didn't know what that'll look like."
"From my single family rental to self-storage, I was 4xing my monthly income. To me, it was a no brainer going to self-storage."
"I could flip a switch and maybe an hour or two hours a month is all I have to work."
ASK ALEX A QUESTION:
Have a question you want featured on an upcoming Flip Empire Show?
Head over to the Ask Alex page, and record your question. We've made it super easy for you, so let us know what challenges you are having, and Alex will answer it personally!
SUBSCRIBE To The Flip Empire Show, and Leave a Rating & Review!