When it comes to real estate, one of the crucial elements that determine success is relationships. In this blog, we delve into the expertise of Jonatan Barbera, the founder of Prime Wealth Academy. His academy assists real estate professionals in flipping houses and acquiring higher-margin deals.
Jonatan Barbera's Journey into Real Estate
Jonatan Barbera's story is nothing short of inspiring. Born in Argentina, his family immigrated to the United States when he was just seven years old. Arriving on a visitor's visa, Jonatan faced numerous challenges growing up as an undocumented immigrant.
He couldn't drive, work legally, or access many opportunities that others took for granted. These challenges led him to drop out of high school and enter the construction industry at 15, where he gained significant experience renovating houses. It was through this experience that Jonatan encountered real estate investors and decided to pivot his career toward real estate investment.
"I was born in Argentina, and around seven years old, my dad wanted to chase the American dream because we were broke as hell in Argentina. So we hopped on a plane, flew over to New York. We came on a visitor's visa, which is good for 90 days. So 20 years later, we kind of overstayed our welcome." - Jonatan Barbera
Discovering Real Estate and Making the Move to Texas
After realizing the limitations of the New York real estate market—high taxes, expensive homes, and low rental returns—Jonatan decided to explore more viable markets. He found Texas to be a strong market that had remained stable during the 2008 financial crisis. Consequently, he and his wife packed everything into a Chevy Cobalt and moved to San Antonio, where he started his real estate investment business.
Building a Cash Buyers List: Key Strategies
One of the pivotal points of Jonatan's success is his strategy for building a strong cash buyers list. He stresses the importance of understanding your market and your buyers before diving into property acquisitions.
Understanding Your Market
The first step in building a robust cash buyers list is understanding your market. This involves researching median price points, months of inventory, and market trends.
"Pillar number one is understanding your market. This is, what is the median price point in your market month over month, consistently? Is it going up? Is it going down? What's the market doing?" - Jonatan Barbera
Networking Events
Networking events are invaluable for meeting potential buyers and building relationships. Jonatan emphasizes the importance of attending these events consistently to make meaningful connections.
"By far, hands down, the best way to do it is networking events. I mean, you got to go to every single networking event in your city consistently." - Jonatan Barbera
Building Relationships with Buyers
Understanding the specific needs of your buyers is crucial. Jonatan categorizes buyers into primary and secondary tiers. Primary buyers are those who complete at least seven deals a year. These buyers know their numbers, the market, and have the financial capability to handle multiple deals.
"My target is buyers that do no less than seven deals a year. A buyer that's doing no less than seven deals a year knows the areas, they know their numbers, they have the money. They can handle more than one deal at once." - Jonatan Barbera
Personal Branding
In today's digital age, personal branding is vital. Jonatan discusses the importance of having a strong online presence, particularly on platforms like Facebook, where many real estate transactions and networking occur.
"Nowadays, if you don't have a Facebook profile, you don't exist, right. And whenever anybody meets you and everything like that, they want to look you up on Facebook, see if you exist." - Jonatan Barbera
The Nine Pillars System
Jonatan has developed a comprehensive Nine Pillars System that offers a detailed playbook for generating consistent deal flow and maximizing profitability in real estate. Here's a quick overview:
- Understanding Your Market: Research market trends, median price points, and months of inventory.
- Building Your Buyers List: Focus on networking events and categorizing buyers.
- Personal Branding: Establish a robust online presence.
- Building Your CRM: Use a Customer Relationship Management system to manage your leads.
- Marketing: Develop effective marketing strategies tailored to your specific market and buyers.
- Sales: Hone your skills in speaking to sellers and closing deals.
- Disposition: Learn how to effectively sell properties to your buyer's list.
- Niche Lists: Focus on pre-foreclosures, pre-probates, and other niche markets.
- Scaling Your Business: Implement systems for hiring staff and expanding your operations.
Conclusion
Jonatan Barbera's journey from humble beginnings to becoming a successful real estate investor is a testament to the power of hard work, strategic thinking, and building strong relationships. His Nine Pillars System offers valuable insights for real estate professionals looking to generate consistent deal flow and build a successful investment business.
By following Jonatan's strategies and focusing on building solid relationships, you too can achieve success in the competitive world of real estate.
