Today’s guest is Jabbar Adesada. Jabbar and I talk about his real estate investing journey that started when he was only 19 years old. We talk about the inspiration he received to pursue financial independence. We get into house hacking, short-term vacation rentals and his advice and strategies on how young adults or parents of young adults can get started with real estate.
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Jabbar is a real estate investor, who started investing in real estate at 19 years old. Now at age 20, he currently owns a single-family home in Georgia, as well as several short-term vacation rentals. Jabbar is also an enlisted Marine.
- How Jabbar overcame a difficult childhood filled with physical and emotional abuse and a feeling of scarcity around money
- An important lesson his dad imparted on him at 15 years old
- When Jabbar joined the military at 17 years old and the inspiration he received when being hosted by a family that showed him a path to personal financial independence, including some of the books that changed his entire outlook on money
- Why he decided to save and invest in stocks, and took advantage of buying opportunities in the stock market early in the pandemic
- How Jabbar pivoted to real estate when he realized it was his path to financial independence
- People like Dan Sheeks and the Sheeks Freaks community that changed his life
- The importance of community and surrounding himself with other like-minded young adults in pursuit of his goals, who will support you and be on the journey with you
- How being around like-minded action takers helps Jabbar think and aim for bigger goals
- The adversity Jabbar went through in trying to purchase his first investment property at 19 years old
- How Jabbar set a goal of $10,000/mth by 30 years old and is already almost there at 20 years old
- How Jabbar started house hacking through turning a 4-bd/4-ba home into a 5-bd home, while sleeping on a futon in the house
- The systems and processes Jabbar put in place while Jabbar was on deployment to manage his property
- Where Jabbar gets his mindset that everything is “figure-out-able” “build parachute on way down” and his strength in building relationships with others
- The personal development Jabbar has done in listening to podcasts, real estate books
- What attracted Jabbar to short-term rentals and how they are supercharging his passive income and getting to financial independence
- How Jabbar partnered with others to purchase short-term rentals in the Great Smoky Mountains
- The lessons that Jabbar has taken away from being involved in these short-term rentals
- The technology and systems that Jabbar has leveraged to automate the management of his short-term rentals, while he continues to work full-time in the Marines
- How to ensure you have sufficient buffer and wiggle room on the buy side
- Advice and strategies that Jabbar would give young adults or parents of young adults on how they can get started with real estate
- The common misconceptions people have about real estate investing
- How the opportunity cost of not investing is much more riskier than investing in real estate
- The importance of prioritizing investing for young kids and young adults
- Rich Dad, Poor Dad by Robert Kiyosaki [Amazon Affiliate link]
- I will teach you to be rich (2nd edition) by Ramit Sethi [Amazon Affiliate link]
- The Automatic Millionnaire by David Bach [Amazon Affiliate link]
- Bigger Pockets Podcast
- Dan Sheeks and the Sheeks Freaks community
- The Book of managing rental properties by Brandon Turner [Amazon Affiliate link]
- Todd Baldwin | Millionnaire from rentals
- Hospitable | Automated notifications to guests
- Pricelabs | Dynamic pricing automation tools
- Turnoverbnb | Scheduling tool for cleaning
- The One Thing by Gary Keller and Jay Papasan [Amazon Affiliate link]
- The House Hacking Strategy by Craig Curelop [Amazon Affiliate link]
- The Miracle Morning by Hal Elrod
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Thanks to Jabbar for joining me this week!
In case you missed it, make sure to catch up on last week’s episode “Episode 017: Currency and NFT Investing for our Teenagers with Robert Farrington”!