This real estate investor bought 30 homes and made $ 30 million in sales before his 30th birthday
It sounds like a “Forbes 30 under 30” rating. However, Patrick Jeune is another type of 30 under 30. Prior to his 30th birthday, the founder of JP Holdings, LLC, reviewed over 30 properties and made over $ 30 million in real estate sales.
Now 32, Jeune was struggling to rent a house with his colleagues for $ 2,000 about 12 years ago when he was a student at Temple University. According to him, his decision to go into entrepreneurship was inspired by his difficulties in renting a house during his university studies. In addition, he considered the sector to be lucrative given the rent he paid.
âI was just thinking that this guy who owns this property has to make a lot of money if every month we are going to find $ 2,000, so that’s what gave me the idea to go ahead and get started in real life. succession â, he declared The Philadelphia Tribune.
He bought his first property, a four bedroom house, for $ 27,000 with the support of his mother. Young raised money by throwing parties and renting out other properties for his owner. He later acquired a line of credit from Wells Fargo to help him renovate the house so that he could rent it out.
âI had to learn the hard way that one property is not going to change your life, so I decided to dig deeper into real estate and identify other ways to scale and grow the business. Young said, according to The Philadelphia Tribune. .
The real estate entrepreneur sold his first home after graduating from Temple, which allowed him to start moving homes in the Point Breeze neighborhoods in South Philadelphia and Brewerytown in North Philadelphia, as well as in buy 20 units in the Cedar Park neighborhood of West Philadelphia.
Young describes his journey to reach $ 30 million and counts as a blessing and has started giving back to society by teaching the business to others. For his 30th birthday, he invited 15 people to dinner with him and shared tips on how to get started in real estate.
And in less than 60 days, the Philadelphia native turned four people into real estate investors. âI feel like I understood. This is something I want to share because I know there are a lot of people trying to figure it out too, âhe said.
In addition to investing and selling properties in the Philadelphia area, Young hopes to expand to other cities in America.