What does it take to transition from a W2 job to entrepreneurship while setting yourself up for success?

Angel interviews Jon, an engineer turned real estate entrepreneur about his journey from W2 to pursuing his own dreams. They discuss the practical steps Jon took to make the career shift smoothly as well as the importance of maintenance, healthy housing, and making a positive social impact.

Jon is CEO and Founder of Blue Eyed Capital, an impact investment firm focused on leaving the world better than they found it. A professional mechanical engineer with 18+ yrs in commercial real estate and development, Jon is an expert in the field of energy performance and sustainable buildings. He was head of engineering for Apple Inc.’s retail real estate and development group for 9 yrs and responsible for the design, construction and operation of over

300 high performance spaces in 20 countries throughout his career. Blue Eyed Capital has 228 units under management valued at over $15 million.

Jon lives in northern Wisconsin with his wife Danielle and son Wyatt. An avid Formula1 fan and dedicated to finding a cure for Type 1 Diabetes.

(00:01:00 - 00:03:00) Getting Started in Real Estate

• Jon had skills from 20 years in commercial real estate and engineering that he realized could be put to better use
• After discovering real estate investing, he knew he had to dedicate himself fully and have a plan
• He set aside funds in advance to pave the way for his exit

(00:03:00 - 00:07:00) Making the Leap

• Don't underestimate the time it takes from start to building stable income
• Enjoy the shift from stress to challenge and opportunity
• Appreciate the flexibility to spend more time with family

(00:07:00 - 00:10:00) Building Backups and Residual Income

• Jon uses private money loans at 15% interest to generate consistent income
• He has some LP investments coming online soon to add more stable cashflow

(00:10:00 - 00:15:00) Preparing for the Unexpected

• Budget thoroughly for inevitable maintenance issues
• Be ready to cover displacement costs if issues arise
• Focus on resilience in underwriting to protect all stakeholders

(00:15:00 - 00:19:00) People First Property Management

• Provide the best quality housing possible at each price point
• Well-maintained properties promote resident health and ripple out
• Poor housing can negatively impact people's outlook and interactions

Quotes:

"It's fun to have something come up. It's fun to say, oh wow...What are we going to do now?" -Jon Weiskopf

"There's too much of the money first or avoidance. Look in the mirror - how would you feel in that situation?" -Jon Weiskopf

Connect with Jon:

LinkedIn

Website: https://www.blueeyedcapital.com/

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