40 Under 40: Nathan Jochen builds residential rental empire
Nathan Jochen, 35, real estate entrepreneur
Rent increases in Knoxville have dominated housing headlines lately, as it seems like everybody wants to call East Tennessee their home. But in true neighborly fashion, Nathan Jochen works each day to ensure people can afford to be a part of this community by offering reasonable rent prices for tenants, as well as resources for budding businesses, nonprofits and those facing medical emergencies. His secret: "People over profits" and "purpose over productivity."
When you reflect on your career so far, which achievement stands out most?
Starting in early 2020, when many were unable to work or maintain their current lifestyle, I can proudly say that I issued no rent increases and had zero evictions. During the same period, I was able to continually grow my rental business and provide quality housing at an affordable price. In my business during this time, housing options to my tenants were increased, rent amounts were maintained and not one person was displaced. I learned long ago that placing people over profits pays dividends far more valuable than an immediate payday. That will always ring true.
What is the greatest professional obstacle you’ve had to overcome and how did you overcome it?
In the past, I would look at a task in its entirety rather than breaking it into manageable pieces. The bigger the task, the more insurmountable it would seem. Then I hiked the entire Appalachian Trail from Maine to Georgia. I learned very quickly that I could not approach through hiking almost 2,200 miles as one task. It was one step, one mile, one milestone and one state at a time. And before long, 14 states were completed, and I found myself in Georgia. This principle has since been applied time and time again in my business.
What will you focus on in 2024?
In 2024, there will still be an urgent need in the Knoxville area for quality affordable housing for long-term tenants that want to live, work, worship and enjoy life all in the same town. I will continue to provide this, just on a larger scale by growing and partnering with other like-minded individuals. I would also like to diversify more in the business to possibly help solve some of the health care and medical transportation problems facing the Knoxville area. The primary goal of health care should be healing. Let’s start there; profits can come second.
What is your biggest professional dream?
I hope to always maintain a purpose over productivity mindset. While productivity is certainly important, a good deal is one where all parties benefit. Yes, this is possible every time! By creating mutually beneficial deals, I have had more referrals than I can even remember. When your purpose is caring for all of the people involved in each deal, the deals keep coming. I never want to be blinded by growing numbers and profits, and not see the potential to make a difference and create win-win opportunities. In my business, productivity without purpose is energy wasted.
What mistake did you learn the most from?
I have lost more than a few deals to analysis paralysis. This was more so in the initial months and years of having my business and acquiring those first properties. I have learned that when you have a deal in hand and the numbers work, pull the trigger! You’re not just buying something; you’re trading money for something else of value. If you don’t, someone else will be glad to do it. An airplane has recently been added to the list of assets that I rent to others simply because the numbers work. Math is unemotional; trust it.
What motivates you?
People and relationships. For over a decade I have served our area and other parts of the country as a flight paramedic on both a helicopter and an airplane. I always try to be the best part of someone’s worst day. As my business grew, I found I could also be a good part of someone’s best day. Both extremes provide me with so much joy and motivation. A few years ago, I started investing in local businesses as a silent partner. Seeing these businesspeople appreciate the chance and then thrive with their new opportunity has been rewarding beyond measure.
What is the most overrated piece of business advice you’ve heard?
I’ve learned that any advice given, whether in business or other aspects of life, is relative to the past experiences of the individual giving the advice. Therefore, it is important to recognize the potential bias when taking into consideration outside recommendations. Always carefully consider other opinions and counsel, but be cognizant to the potential differences in risk tolerance and end goals. A non-swimmer might suggest a floatation device to a stranger that is considering a dip in the deep end of the pool, but should that stranger be an Olympic swimmer, the advice may not be so sound after all.
What trait do you most want in a co-worker?
Two things. First, I want them to care. Ability and intelligence without ownership are wasted. We can teach and train the mind; I want someone to bring their heart! Second, I want them to possess a positive attitude and a genuine, joyful demeanor in the face of adversity and failure. Anyone can be happy and pleasant to be around when the sun is shining and all is good, but it takes a special person to warmly smile through the storms.
What about Knoxville would you like to improve?
I feel so fortunate to live and work in the Knoxville area and to be so close to everything that East Tennessee has to offer. However, as the third largest city in Tennessee by population, our housing and health care struggles should be relatively easy to solve. Every day in my business I see such a shortfall in quality affordable housing that leaves so many lacking. Nearly every shift that I work in health care, I witness an utter lack of access to appropriate care for patients here in the Knoxville area, regardless of socioeconomic status. This affects us all.
What don't people know about you?
In addition to through hiking the Appalachian Trail, I’ve enjoyed many other outdoor excursions, including the Long Trail, the Benton Mackaye Trail, and a source to sea river trip by kayak from the mountains of Western North Carolina to the Atlantic Ocean. I am also an avid whitewater kayaker, just returning from West Virginia and Maryland running the Gauley and Youghiogheny Rivers. I’m a part-time whitewater raft guide in the summers, and my favorite guests are the first timers! When it’s time to relax, I enjoy beekeeping and losing myself in a good adventure novel.
Family: Parents Don & Sherry Jochen
Years worked at current company: 10 years as a real estate investor
Degrees and certifications: Bachelor's of management and leadership from Lincoln Memorial University; A.A.S. public safety – paramedic from Walters State Community College; Certified IBSC flight paramedic
Community involvement: Second Chance Global past board member; American Heart Association Training Center faculty in Basic Life Support (BLS/CPR), Advanced Cardiac Life Support (ACLS), Pediatric Advanced Life Support (PALS).
This Q&A has been edited for length and clarity.
-Ryan Wilusz
This article originally appeared on Knoxville News Sentinel: Knox News 40 Under 40: Nathan Jochen, residential rentals
