I own 70 apartments and collect 40,000 euros in rent: This is how it went
Inspired by audio books and books about money and real estate, David Jakob built an impressive portfolio and now collects around 40,000 euros in rent every month. With BI+ you will find out how the trained craftsman began his career as a real estate investor and what mistakes he made. The 33-year-old also reveals his key to success in the industry.
David Jakob, a successful real estate investor, owns 70 apartments and receives around 40,000 euros in rent every month.
His goal is to scale to 1,000 units by the time he turns 40 and then invest in vacation properties.
The 33-year-old has built up his knowledge through audio books, books and networks. He has now founded a network of companies to manage his properties in the best possible way.
He worked in sales, so David Jakob often traveled all over Germany for appointments. In a way, this fact is the origin of his career as a real estate investor. Because instead of listening to the same songs on the radio over and over again on his journeys to appointments, the 33-year-old preferred to listen to audio books about money, mindset and real estate. Instead of turning on the TV on the sofa in his hotel room in the evening after exhausting appointments, the young man from North Rhine-Westphalia preferred to immerse himself in books with the same topics.
David Jakob acquired an incredible amount of knowledge that makes him what he is today: a successful investor who has 70 apartments spread across 6 apartment buildings and collects around 40,000 euros in rent every month (Business Insider got a glimpse of the land registry extracts)“At the moment, the value of my portfolio is just over 4.5 million euros,” said the investor. Three million euros of this is still financed. Of the 40,000 euros in rent, around 10,000 euros are used each month for repayment.
“So there is a decent amount left that I can invest in my companies,” says David Jakob. His goal is to continue to grow as an entrepreneur. To do this, i.e. to have more capital for new projects, he has also sold some properties in recent years. “By 2020, I owned more than 100 residential units in the form of condominiums and apartment buildings,” he says.
The long-term plan is to “scale to 1,000 units by the time I'm 40,” says the investor from Dorsten. After that, he wants to invest in vacation properties – “especially in California, Florida and the Mediterranean. What appeals to me about vacation properties is that I can combine them with my vacation and at the same time generate passive income,” says the 33-year-old.
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The entrepreneur knows exactly what he wants – both for the present and for the future. It has been nine years since David Jakob bought his first property. But how does a 25-year-old manage to buy a home? In an interview with Business Insider, the investor gives exciting insights into his personal development in the industry and reveals his key to success with real estate.