"It's very rewarding," he said in an exclusive interview with Business Insider. "I work to help protect our soldiers and their hearing."Jones had worked as a contractor for the Department of Defense before transitioning to a more permanent role. However, his new arrangement came alongside a 15% pay cut.
"That equated to a huge chunk of our monthly income," he said. "There's not enough budgeting that could make up that big of a loss to our monthly take-home." After tirelessly scouring the internet for different side-hustle ideas, Jones' wife suggested they giveAt first, the plan was to buy one single-family rental property every year for five years. But that all changed when they started to run some simple calculations.
"There were some good deals, but at most we'd only bring home $200 a month which is considerably less than what we needed to," he said. "And so, I was like: 'Maybe we should look into multifamily.'" Today, Jones says he's accumulated 23 units in total — a 4-unit, 16-unit, and three single family rentals. Business Insider reviewed documents showing Jones' property ownership in the state of Alabama.The meat and potatoes of Jones' strategy is simple: purchase a property, conduct anywhere from $7,000-$10,000/per unit worth of rehabs, and then increase rents to intensify cash flow over the course of the holding period.
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