New Venture Lab: Equipping Christian Entrepreneurs

Real Estate Entrepreneur Applied Lessons Learned by Working in His Father's Business

This profile features the JFI Land company, a real estate development firm in central Florida

Name:

S. Jaeb

Family Description:

Married with two children

Business Name:

JFI Land Company

Business Description:

Real estate investment and development

Location:

Central Florida

Formal education/training:

B.S. in Accounting, University of Tampa

Prior work experience:

Worked in my Father's grocery and convenience store businesses

Forming the Idea:

My Father owned real estate as part of his business; I liked the opportunities that real estate provided to make a living.

How you got started:

My brother and I started with a small warehouse development. My brother purchased a business and I started JFI Land Company to invest in and develop real estate.

What was it like in the beginning:

It was very difficult. I had some capital and jumped in over my head. I had purchased all my real estate when the market was high and the market was going down. I had to work hard for 7 years with little to no return to keep my business going.

What stage the business is at now:

JFI Land Company is small but doing well. I have been able to do other real estate projects outside the ownership of JFI Land Company that have done well.

The biggest challenge you’ve faced:

In the real estate downturn of the late 1980's and early 1990's, I was overleveraged in real estate. I had to brainstorm all the time about how to survive. Working out of the properties and my indebtedness was a huge challenge.

Key steps that made the difference:

1. By God's grace, I did not give up
2. I sought Godly counsel from a Christian who had much experience in real estate
3. I prayed to God for help and that I would honor Him through integrity and hard work

Lessons Learned:

1. Do your homework
2. Start small
3. Learn from others
4. Know what your downside is. If you can't afford for your downside to happen do not do it. (In real estate there is no such thing as a sure thing)

The best advice you received:

Don't be afraid of failure. You can learn a great deal from failure that can help you succeed. Be afraid of not trying. Even though you may never fail you will never succeed.

What your work and family life was like before:

I did not enjoy just working in a job. I did not have a family at that time.

What your work and family life is like now:

I enjoy the challenge of owning and running a business. I have flexibility to spend more time with my family than I would if I worked for someone else. I can take my children with me to meetings, my office and to look at real estate.