257: 20 Year-Old Minimum Wage Marine with $850k in Real Estate

We have a lot of impressive guests on the show, and they just seem to get younger with every new episode. You’ve heard the stories of people in their twenties buying rentals, people in their thirties hitting coast FI, and people in their forties and beyond making many, many millions. But, what about a marine recruit, making a low salary, buying more than $800k in real estate within his second decade on earth? Now that sounds like an interesting story. Jabbar Adesada fits the bill exactly! After moving in with his father, he was given strict instruction to read books like Rich Dad Poor Dad, I Will Teach You To Be Rich, and Automatic Millionaire. Jabbar decided to put down his NBA/med school dreams and open up a brokerage account. Lucky for him, right around the time he started investing was the 2020 stock market crash, giving him all the discount he needed to make his first profits. After running some “when will I be a millionaire?” scenarios, Jabbar realized that real estate, and not the stock market, was the best path to financial independence. Jabbar shares the story of how he was able to find funding, a down payment, and a property that would allow him to house hack, Craige Curelop style. Not only that, Jabbar just closed on a short-term rental in the Smoky Mountains, which puts his real estate portfolio north of $800k! Let’s mention this again: He’s twenty years old! In This Episode We Cover Why early financial education can make or break your child’s path to success The best finance books that you (or your child, cousin, niece, or nephew) should read Why crashes aren’t a sign to panic, but a sign to buy more House hacking at a young age, and how to get pre-approved for loans without an extensive job history Having an “obsessive mindset to be wealthy” and using it to help not only yourself but others Practicing delayed gratification and building a brighter future with each investment And So Much More! Learn more about your ad choices. Visit megaphone.fm/adchoices