EP228: Jon Carcone: The Ultimate Goal is Cash Flow

Jon Carcone has been a real estate investor since 2009. Last year, he closed on 40 deals, but his ultimate goal is to generate $10,000 a month in a cash flow from rental properties. Jon shares his experience with low-end rentals and why he decided to make the switch to high-end rentals despite the additional costs. Jon stresses the importance of creating a lifestyle business that matches your needs. Key Takeaways: What kind of challenges has Jon faced so far? It's definitely gotten harder to secure deals over the last few years. A couple of years ago, Alex could make a decent living with just him and his VA. What type of business do you want to develop? It's important to get clear on that. Jon has been intentional in trying to develop a lifestyle business, not a corporation. What is Jon's business model today and how does he structure his team? Last year Jon did 43 deals. 23 were rehabs and 20 were wholesales. Jon's ultimate goal is to try and get to $10,000 a month in cash flow. Jon shares his interesting experiences in being a landlord so far. What was Jon's biggest takeaway when it came to buying low-end rentals? How did Jon get into the high-end rentals? Jon shares a case study of a high-end property and the process it took to go from vacancy to full. Did Jon ever consider going into commercial real estate? The wholesaling business helps out a lot because you can make a lot of money. It's a simple business, but it's not always easy. A bad hire can be deadly in your business. Pay attention to the data! Your marketing will tell you the real story. If it was easy, it wouldn't be satisfying! What advice would Jon give his younger self? There's nothing wrong with starting later in life! Mentioned in This Episode: Connect w/ Jon Carcone on Facebook, and/or visit him at Brothersbuyhouses.com The Founder on IMDB   Tweetables: "No one's life is perfect. Doesn't matter what you're doing. Everyone has things that they're not happy with." "Most people, when they think rental property, but they don't think high-end." "The wholesaling business is awesome because you can make a lot of money. It's a simple business, but it's not easy." Ask Alex A Question: Have a question you want featured on an upcoming Flip Empire Show? Head over to the Ask Alex page, and record your question. We've made it super easy for you, so let us know what challenges you are having, and Alex will answer it personally! Did you get your FREE Online Course? Text the word EMPIRE to 67076, and we'll send you a link to get instant access to the "5 Ways To Scale Your Real Estate Wholesaling Business To Six Figures (In 6 Months Or Less)" video module training course. Subscribe To The Flip Empire Show, and Leave a Rating & Review!