3 Tiers of Capital Allocation for Multifamily Investors with Joel Florek

Passive Wealth Strategy Show - Real Estate for Busy Pros

Joel Florek, an accomplished multifamily real estate investor, joins us to teach us the 3 tiered capital allocation strategy for multifamily investors. Joel’s straightforward process to making decisions about how to operate his multifamily business will be valuable to any multifamily real estate investor out there. You’re going to enjoy this one!

Quotes:

“The first tier is get units rented. I always like to tell people "money solves problems."”

“We need to make sure that we have some sort of a plan, a process that we can fall back on, as we are going through the years of execution on that business.”

“We need to look at our business and say, what's the one thing that we need to write a check for today, or tomorrow for that matter.”

"Visualize, what do you want your life to look like? You know what are the things that you want to be doing? Where do you want to live? What type of material things do you need or want to be able to achieve? The lifestyle, you know, the things that you like to do."

Get in touch:

[e-mail]

www.jfhcapital.com

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Guest Bio: Joel began investing in early 2015. His first property was a small 4 unit which he lived in and remodeled himself while pursuing a corporate career as a program manager for a systems integrator working with US Navy and USCG. Over the next 30 months, Joel continued to expand his personal portfolio to 31 units which helped him transition from part-time to a full-time investor. During this time he moved south from the Upper Peninsula of Michigan to Michigan City Indiana where he now calls home. 2018 was a busy year focused on executing value-add projects within the portfolio that have significantly boosted the performance of the properties. Joel is hopeful that 2019 will be an exciting year focused on expanding the portfolio, team, and investment partners. Joel is happily married and has a young 2-year-old daughter. The family enjoys spending time at the beautiful beaches in Michigan City, skiing in the winter, and spending lots of time outdoors whether the activity is hiking, camping or sailing. Apart from getting hands-on with all aspects of real estate investing Joel loves networking with others and talking about the power of financial independence.