Real estate investing has long been accepted as a way to build equity and generational wealth. The prevalence of home ownership has been engrained in yesterday’s society but today homeownership rates among 25 to 34 year-old millennials are around 8 percentage points lower than those of Gen Xers and boomers were at the same age according to the Urban Institute. Not all millennials share this sentiment though, Abduljabar Totonji, better known as Jabs, a millennial real estate entrepreneur has been advocating for home ownership and real estate investments.
At the age of 31, Jabs has accomplished achievements far beyond his age. He obtained an undergraduate degree in economics from George Mason University and a graduate degree in real estate finance from Georgetown University. He currently serves as the Chief Investment Officer at Golden Eagle Group Inc., a midsize investment firm with over a billion dollars in assets under management, focusing on multifamily properties and large single tenant net leased office buildings. With the help of his team at Golden Eagle Group, he has acquired some of the most amazing properties in the United States such as the Huntsman Corp Headquarters in The Woodlands Texas, Varsity Brands HQ in Dallas Texas, and a Fortune 10 Corporate Campus in Columbus Ohio.
Jabs purchased his first property at the age of 18 after the market crash of 2008. “My parents instilled a deep importance on home ownership to me at a young age. Once you pay off your home you are a king, my dad would say to me” Jabs explains “I took that to heart and have been buying real estate ever since”.
Jabs shares his thoughts and experiences on purchasing a home in his book titled: “Home Buying 101: What They Don’t Teach You in the Classroom”. The book has drawn some serious attention from industry experts and professionals. Former Congressman Jim Moran shared his thought on the book and author by saying: “This book is worth its weight in gold. Jabs understands that buying a home is much more than a purely financial decision. The book exemplifies his intellectual brilliance, his entrepreneurial creativity and his charismatic ability to relate to all different walks of life, cultures, styles and income levels. It is easy to read but impossible to forget.”
Jabs wrote the book because he wanted to share his knowledge with others in a way that speaks to them. “The book is short. Today’s home buyer wants access to information immediately and that’s why I removed all the fluff.” Jabs states. In his intro Jabs takes pride in the fact that the tone of the book is informal and conversational. Buying a home is complicated enough, no need to complicate it even more. His goal is to present the steps to homeownership in the most straightforward way possible.
When asked about future plan Jabs said: “I’ve had a huge focus on commercial real estate investments these past few years. The market is shifting with inflation and increasing interest rates so we will need to get creative to acquire the best trophy assets throughout the United States with the highest risk averse returns for our investors and partners”. It’s becoming more apparent that individuals and companies who want to succeed in the rapidly changing real estate sector will need to take the initiative to stay on top. One thing is for sure, however the space changes, it is certain that Jabs will be there, leading the way.
“Home Buying 101: What They Don’t Teach You in the Classroom” by Abduljabar I. Totonji can be purchased on Amazon.com and BarnesAndNoble.com
