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 😉
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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.”
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