Craig Napoliello, a successful real estate investor and busy professional with a W2 job, discusses his experience building his real estate portfolio of over 600 rental units in New York City and North Carolina. Craig shares his successes and mistakes along the way and how he balances his real estate investments with his day job and family commitments. He also explains how investing in bookkeepers, QuickBooks, and legal representation can help prevent delays down the road and long-term stress. He emphasizes the importance of setting high standards for partners in the business and striving to find individuals who are nine or ten out of ten. This conversation also explores how remote workers and employees from other countries can effectively expand teams without sacrificing performance or employee satisfaction. Tune in to hear more about Craig's experiences as a real estate investor, balancing a full-time job with investing in real estate, taking advantage of tax advantages with W2 employment, creating a supportive team environment for success, and other invaluable insights!

 

[00:02 - 11:34] Opening Segment 

Balancing real estate commitments with W2 and family commitments

Mistakes Craig made along the way while building his real estate portfolio

Investing in mom and pop run businesses often comes with books that are not well-kept and sloppy information

Investing upfront in understanding every single penny of the ins and outs of finances

Setting KPIs and important ratios is essential 

Having a team of partners who are nine or ten in terms of their performance is ideal

Hiring bookkeepers, lawyers, and other experts can help save money in the long run

 

[11:35 - 21:28] Balancing Responsibilities and Finding Success

Investing in the best people and paying them more than the market rate

Focusing on who, not how, when it comes to personnel

Holding partners and employees to a higher standard

Allocating time differently to focus on real estate investments

Making a deliberate decision to invest time in real estate instead of watching TV

Learning about mobile home parks, being a real estate professional, and cost segregation

 

[21:29 - 26:57] Unlocking the Benefits of Real Estate Investing

Pivoted from multi-family to mobile home park investing

Sticky revenue and long-term vision of backstop for family

Tax incentives for real estate professionals with bonus depreciation

Filing taxes together to write paper losses against W2 income

Using tax strategy as additional fuel to drive real estate journey

 

[26:58 - 36:26] Closing Segment

Craig's favorite book: Small Giants by Bo Burlingham

Books by Benjamin Hardy

Tool or strategy that Craig can't live without: remote workers

The next thing that Craig needs: a better understanding of every single penny in Craig's business

Quote/s:

 

"Treating [remote workers] with a tremendous amount of respect as if they're a part of the business. And if that means paying them much more than the market, any of these things, it's well worth it." - Craig Napoliello

Connect with Craig!

Email: [email protected] 

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