Today we have a dynamic duo that, I believe, are about to make a lot of people a whole lot of money! First, Jon Stark! Jon is an experienced commercial real estate broker, multifamily investor, husband, father, and entrepreneur. He started his commercial real estate career as an investment sales associate for Marcus & Millichap in late 2017. Learning the multifamily investing side, he ran into Imani Abdullah. Imani is a former athlete turned real estate investor who is an absolute powerhouse for breaking down deals. Both these gentlemen have partnered up to run Multifamily syndications at Stark Capital.
Jump right into this episode and learn how the power of partnerships can lead to success.
Getting to know Jon and Imani - [00:01 – 06:20]
I introduce Jon and Imani to the show
Jon shares a bit of his background
Born and raised in San Diego
Started in wholesaling, moved to CRE
Education meets execution
Meeting and partnering with Imani
Always around real estate growing up
Investing in a mastermind to build a network
About to go full cycle on a previous deal
The Power of Partnerships - [06:21 – 26:43]
The value of “rubbing shoulders” with the right people
Powerhouses that are doing what you want to do
Aligned visions and focus
How Jon and Imani partnered up
Real education comes from DOING, not just seeing
Resources will only give you about 60% of what you need
Imani explains his previous deal
16 units at $5.8 to 6M
The kind of deal that can only make money
Imani explains his and Jon’s underwriting strategy
Underwrite the demographic first
Understand the area’s income
Making things make sense from consumer to investor
The property is just the vehicle; you need to understand the customer
How Jon and Imani got their second deal
Hunting or value where others aren’t learning
Final advice for building momentum
Know one market like the back of your hand
Put the investor first
Once you have ‘proof of method’ go full throttle
The Quattro Trio - [26:44 - 32:35]
What is your superpower?
Jon: Relentless - enjoying and trusting the process
Imani: Powerhouse in underwriting - breaking down a deal
What is your biggest failure?
Jon: Not getting into real estate sooner
Imani: No failures, only learning experiences
How to connect with Jon and Imani
“Rubbing shoulders with everyone who has the same mindset, dedication, focus, and a lot of people who are already doing it… that’s the circle of people you want to be around.” - Jon Stark
“No matter what business it is, the strength of your business is the strength of your customer.” - Imani Abdullah
“Become a master at one market. Know it like the back of your hand.” - Imani Abdullah
You can connect with Jon on Instagram (@starkcapital) or direct by cellphone on 8585252446.
You can also find Imani on Instagram (@imaniabdullah) or call 6198884314.
Check out Syndication Pro and learn how you can raise more capital in less time! https://syndicationpro.com/account-setup?fpr=quattro
Real Estate Runway Podcast is all about alternative business and investment strategies to help you amplify life and maximize wealth! Click here to find out more about the host, Chad Sutton.