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.
Enjoy!
CLICK THE PLAY BUTTON ABOVE OR LISTEN ON:
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!
Share Your Wins
If you have a financial victory you want to share on this show, please leave me a voicemail (or an email) and include the following:
- First name
- Location
- Your recent big win
- How you did it
- If/How you celebrated
- Your financial plans for the future
Your story will inspire others to save more, make more and plan for their family’s future.
Show Resources
SHOW SPONSOR: TILLER
30-Day FREE Trial– Control your money and support this show.
SHOW SPONSOR: QUOTACY
Get Your Free Quote – Protect your family and support this show.
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
MKM PODCAST RESOURCES
#BigTipTuesday is here!
I’m creating a fun way for the Marriage, Kids and Money Community to Give Back this holiday season. I’m calling it “Big Tip Tuesday” …
I would love for our community to surprise 10 hard-working people in the service industry with $100. That would be $1,000 of joy spread to those who are working hard during the holidays. So, what do you think? Are you in?
Please email me and let me know. Giving is SO much fun. Think about the smile you’ll bring to someone’s face who is not expecting it. THANK YOU FOR CONSIDERING IT!
MKM Coaching with Andy Hill: Request a free 30-minute consultation call with me so we can partner together on your path to financial freedom.
Thriving Families Facebook Group: Join our new FREE Facebook Community!
Young Family Wealth Playbook (FREE): 7-Steps to Solidifying Your Family’s Future Wealth
Support this Show
If you enjoyed this podcast episode, here are some excellent ways to support the show:
- Leave a review for the show on Apple Podcasts or Stitcher
- Leave a comment below
- Check out my Recommended Resources Page
- Subscribe to the show on Apple Podcasts, YouTube, Spotify, Google Podcasts or Stitcher
- Join our Thriving Families Facebook Community – learn and help other families grow their wealth
I truly appreciate the support everyone!
Questions?
I’d love to hear from you!
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.
Leave me a voicemail or connect with me on Twitter, Facebook or shoot me an email.
Carpe Diem Quote
“Don’t wait to buy real estate. Buy real estate and wait.”
–Will Rogers
Where are you in your real estate investing journey?
Please let me know in the comments below!
SUBSCRIBE TO THE PODCAST TODAY (IT’S FREE):
2 Comments
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!