My quest for rental property knowledge continues my friends. While Nicole and I continue to save up our money to buy our first rental, I figured I would speak with someone who’s had massive real estate success to keep me motivated.
Our guest today is Joel Florek. At 25 years old, he owns 31 units in both Michigan and Indiana. These properties provide him so much cash flow that recently he’s been able to leave his 9-5 job and pursue his passion for sailing and family.
Joel’s story of real estate success has been featured in BiggerPockets and on multiple 5-star rated podcasts. As a husband, father and Michigan native, I’m honored to have him on the show today.
What are we covering?
Joel Florek and I chat about:
- How he got started in multi-family real estate
- How leveraging in real estate allows you to scale
- Why his new business allows him to dedicate more time to being Dad
Joel has pursued a life based on time freedom and family. I think you'll be inspired by his example of present parenting and purposeful entrepreneurship.
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About our Guest: Joel Florek
Joel Florek is 25 and self-employed living in Michigan City, IN. He and his wife Nicole have an 18-month-old daughter named Amelia.
Joel owns and manages a portfolio of 4 multifamily properties consisting of 31 units. He began building the portfolio with a 4 unit property just 3 years ago when starting his first job out of college. Living in the property and renting out the other units allowed him to live expense free and focus his savings on growing his real estate side hustle into a full-time business.
Now, Joel is working on diversifying his families income through launching General Ledger, a cash basis accounting platform designed to help real estate investors keep track of cashflow in real time.
Money Master of the Week
Aditya from North Carolina recently paid off $35,000 of student loans AND saved $100,000 in less than 5 years. Determination and discipline … nice work Aditya!
How Did He Do That?
- Didn’t give in to peer pressure and lifestyle inflation. When everyone else was spending their paychecks on upgrading their life after college with new cars and homes, Aditya decided to maintain a comfortable lifestyle that allowed him to pay off his debt and still enjoy life.
- Worked hard to get a raise. He went above and beyond at work to earn a full-time job and really grow his income.
- Found people on the same path. Aditya surrounded himself with people and messages of positive reinforcement that his path was not only a smart one but the right one for him. He read blogs, listened to podcasts and spent time with friends that encouraged his frugal rockstar life.
What is his next financial goal?
Aditya has a plan to become financially independent early in his life. Based on his work so far, he's on his way!
Want to learn more about Aditya and follow his path to financial independence? Check him out at Seeking My Utopia!
Aditya is our Money Master of the Week!
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Your story will inspire others to save more, make more and plan for their family’s future.
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Joel Florek’s Resources
Real Estate Business: JF Holdings
Recommended Book: Rich Dad Poor Dad by Robert Kiyosaki
Recommended Book: Cashflow Quadrant by Robert Kiyosaki
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If you’d like your question featured on the show, reach out and let me know. It would be my honor to support you in your journey toward financial freedom.
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This is encouraging! I am on track to accomplish something similar from a small-ish town in China where I moved precisely to pay off 30K in CC debt as well as $50K in other debt… ideally, I’ll pay all of that off and have $75K saved in four years! Not quite as impressive, but I love knowing that Aditya was successful. Maybe now I will be, too!
These are inspiring life choices! Congratulations for having the courage and will to see this through. Nice work!