Investing in Multifamily While Working Full-Time as an Engineer
For today's episode, I'm excited to welcome engineer turned real estate investor, Jacob Ayers. Jacob is the managing partner of Ayers Acquisitions and host of The Real Estate Way to Wealth and Freedom Podcast. He started buying real estate in 2015 and has grown his portfolio with multifamily properties. He joins us today to discuss his fantastic journey in real estate while he continues to work his full-time engineering job.
First, he shares his background story with us and how he got the “stable, corporate job” mentality from his parents like so many of us do. His parents were entrepreneurs, but they considered themselves lower to middle class and wanted Jacob to have an excellent, long-term, meaningful corporate job.
Jacob shares with us the reasons he decided to start investing in real estate. He says that he did not find any milestones to complete while working on his full-time job and wanted to make more out of life. He could only see retirement looming far down the road of his life and had a deep desire to do something more.
Jacob also talks about his interest in houses and how his engineering mind always wanted to fix and feel things, drawing him into the industry. He decided to take the risk and invest in it. Jacob bought his first rental property in July of 2015, which was a single-family home in his home market of Oklahoma. Jacob shares the details of the purchase, how he financed the deal, and the specific costs and how much he was able to rent it for.
Jacob then discusses the financial sources he uses to help himself in the business. He generally uses traditional financing routes, either the conventional Fannie or Freddie loans or local lenders with portfolio loans. We also discuss how to find the right marketing channels for your business. Jacob says he uses local Facebook pages while explaining how it has worked for him in the long run.
We get to know the quick check filters Jacob uses to decide whether or not you want to dive deeper into a property. Jacob investigates what type of property it is, its rent-to-value ratio, and whether there are any value-add opportunities in the property.
Toward the end of the interview, we learn about Jacob's favorite podcasts and why he chooses them over certain others. He really loves the Get Rich Education podcast by Keith Weinhold and suggests that all the listeners should check it out.
Join us for this power-packed conversation with the very knowledgeable and ambitious engineer-investor, Jacob Ayers. Do not miss out on this awesome episode of the Just Start Real Estate Podcast!
Notable Quotes:
“I was born and raised with this blueprint: Go to school, get good grades, so you can get into college, study something hard, so you can get a good, stable day job.”
- Jacob Ayers
“I started going down this rabbit hole of personal finance, and I just found myself naturally drawn to real estate investing.”
- Jacob Ayers
“Over time, I found myself becoming more entrepreneurial, trying to build up a real estate portfolio and strive to be that full-time entrepreneur.”
- Jacob Ayers
“I'm not one of those guys who just is absolutely miserable at work and hates my day job. I got into this because I like it and I've got that engineering mind.”
- Jacob Ayers
“If we look at our schedule and look at what we're spending time on, I guarantee we are all wasting a lot of time.”
- Jacob Ayers
“Being comfortable is a very easy place to be in, but you're not going to grow being in that place. That's where I think a lot of people find themselves.”
- Jacob Ayers
“I think sometimes people are born entrepreneurs, but they're not put in the right environment, they're not given the right stimulus for it to come out.”
- Mike Simmons
“I've got a pretty good way of just breaking things down step by step, tackling things one day at a time, one most important next step at a time”
- Jacob Ayers
“I see myself in three to five years really growing and scaling this to a significant size, achieving financial freedom, building wealth along the way, and living life on my own terms.“
- Jacob Ayers
Links:
Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months
