Sun, 20 November 2016
Vinney “Smile” Chopra shares his amazing journey from arriving to this country from India with $7 in his pocket to building a $70M multifamily real estate empire. In this episode, we focus in particular on how he started his multifamily investing career and how he eventually raised $1.1M to do his first two deals.
After having graduated from George Washington University, Vinney became a mechanical engineer. He was fascinated by sales and marketing and sold encyclopedias and bibles door-to-door. For several decades, he was a professional fundraiser for non-profit organizations. He started investing in single family houses in the mid-eighties, but in 2007 he became passionate about multifamily investing. Since then, he’s done $125M worth of real estate transactions and currently controls over 1,400 units.
Vinney’s middle name is “Smile” because that what he did a lot during our interview. Here are the topics we cover on the podcast:
[7:30] Vinney’s start in real estate investing
[12:47] Vinny’s preferred method of learning
[13:31] Why positive thinking is so important if you want to achieve your goals
[18:13] Why Vinney decided to stop investing in single family housing
[20:33] Why Vinney recommends finding a partner
[26:17] Why you should talk to a syndication attorney before raising money
[28:00] Vinney’s very first deal
[32:14] How Vinney raised money for his first deal
[38:55] How one happy investor can lead to 30 more
Connect with Vinney
Phone: 925-766-3518 (call or text)
Vinney’s course on syndication: realestateu.tv
Direct download: MB_051-From_7_In_His_Pocket_to_1400_Units_with_Vinney_Smile_Chopra-2.mp3
Category:Commercial Real Estate -- posted at: 12:51pm EDT
Mon, 14 November 2016
Learning how to find and analyze multi-family deals is important, but if you can’t afford to fund it yourself, you need a strategy for raising money! Doing what everyone else is doing to raise money is less and less effective, and that’s why I’ve invited Richard Wilson on the podcast to talk about raising money. Richard’s business isn’t just about raising money for real-estate, but we can adopt many of the strategies that Richard talks about to raise money for our multi-family deals!
About Richard Wilson:
Richard Wilson helps $100M+ net worth families create and manage their single family offices and currently manages 14 clients including mandates with three billionaire families. Richard is also the founder of the Family Office Club, the largest membership-based family office association. Richard hosts the "The Family Office Podcast", and he is the author of the #1 bestselling book in the family office industry, The Single Family Office: Creating, Operating, and Managing the Investments of a Single Family Office. He is a sought-after speaker and has spoken at over 150 conferences in 17 countries. Richard currently resides on the island of Key Biscayne, Florida with his wife and two daughters.
Enjoy the interview!
[1:54] Definition of a Single-Family Office: Private company that manages investments and trusts for a single person or family.
[9:27] Richard’s experience raising money
[9:56] Richard’s strategies for raising money
[13:02] There are experts in your niche that don’t compete with you but have enormous credibility. Find ways of efficiently connecting them to each other, (like through a podcast), and you will get Triple ROI:
[15:39] Richards advice on raising money from private investors.
[20:45]- When you layer communities, you create good luck.
[23:44] What Richard would do if he had only 500 bucks and a laptop (EO Fire Podcast question)
[29:03] Special offer:
Family Office Podcast: Real Estate Investments, Co-Investing, Capital Raising, and Private Equity Business Strategies: https://itunes.apple.com/us/podcast/family-office-podcast-real/id849850253?mt=2
Direct download: MB_050-Raising_Money_from_Family_Offices__With_Richard_Wilson-2.mp3
Category:Commercial Real Estate -- posted at: 1:47pm EDT
Sat, 5 November 2016
In this episode, Mark Walker shares with us how he replaced his income from a high-tech job with passive income from multifamily properties. Like so many people I’ve talked with, Mark started with single family investing before realizing that multifamily investing would allow him to achieve his dream of financial freedom.
His path was not always easy but one day in Mark “decided” that he was going to achieve financial freedom and from that moment on he worked towards escaping the rat race. In my experience, once you truly decide to do something you can’t stop yourself from taking action! So decide already!
Mark has some great advice and he’s even got a free PFD that you can download entitled “10 "Not So Obvious" Ways to Boost Your Multifamily Property NOI.” You can download it here
[1:15] Mark’s Backstory
[3:38] The day Mark “decided” to achieve financial freedom
[5:16] Why Mark started investing in condo’s and townhomes
[6:05] Marks Hiatus from real estate investing
[9:10] Why Mark decided to shift strategy and start investing in multifamily
[13:04] Why Mark decided to do bigger multifamily deals
[14;13] Marks mental struggle transitioning from a W2 employee to a full-time real estate investor.
[17:4] What Mark would do differently if he could do it over:
[20:11] Why a very successful investor would be willing to partner with a noobie
[23:10] Marks advice for a new investor
Mark's gift to listeners: 10 "Not So Obvious" Ways to Boost Your Multifamily Property NOI
Direct download: MB_049-_How_I_Replaced_My_Income_With_Apartment_Buildings__With_Mark_Walker-2.mp3
Category:general -- posted at: 12:16pm EDT