The Cashflow Project

Join Duc and Vince as they chat with Jake Stenziano about scaling through better systems and vertical integration. Jake is the best-selling author of ‘Wheelbarrow Profits” and “The Honey Bee” and the co-founder of Jake & Gino, the only multifamily real estate investment education company. He shares some valuable tips on how to invest in and manage a multifamily space so stay tuned and enjoy the episode!

 Multifamily is a Long Game

For those who are considering entering this industry, Jake stresses that multifamily is a long game. You have to make sure you are in it for the long haul. For him, it is important to not rush the process especially in the beginning. Jake shared how he and his partner Gino focused on two to three deals a year to make sure that those deals are going to make sense and work for their group. They focused on quality, fulfillment and service, and it paid off!

 About Jake Stenziano:

Jake Stenziano, MBA is the best-selling author of two books, Wheelbarrow Profits and The Honey Bee. He is also the co-founder of Jake & Gino, the only multifamily real estate investment education company that teaches investors the three pillars of sound apartment investing; Buy Right, Manage Right, and Finance Right. Jake is also the founder of Rand Property Management and co-founder of Rand Capital and Rand Partners. Rand Property Management is the first property management company with a focus on “modern affordability” and vertical integration.

Outline of the Episode:

- Jake shares an interesting phenomenon that opened his eyes to the potential in real estate.

- The beginning of his partnership with his co-founder Gino Barbaro

- The reasons behind why they decided to go the multifamily syndication route.

- Jake recounts the biggest challenge they've encountered in their business so far.

- Multifamily is a long game and you should not rush the process.

- Keeping their business going despite the COVID-19 pandemic.

- There is a multiplier effect when you bring people with complementary skill sets to work together.

- How to determine if scaling vertically is right for you? What questions should you ask yourself first?

-Jake talks about the business ecosystem they created which they call The Rand Powerwheel.

- Tips and tricks on how to increase the NOI when acquiring a property

- Jake talks about his favorite book "Atlas Shrugged" by Ayn Rand

- What does Jake consider as his superpower?

- The importance of getting clarity through all levels of your business

- To win in multifamily, you have to be in the game for the long haul!

- Jeff's gives his advice for busy working professionals who would like to achieve financial freedom.

 Resources:

·        Jake & Gino

·        "The Honey Bee" by Jake Stenziano & Gino Barbaro

·        "Wheelbarrow Profits by Jake Stenziano & Gino Barbaro

·        "Atlas Shrugged" by Ayn Rand

·        Francisco d'Anconia's 'Money Speech' from "Atlas Shrugged"

Connect with Tri-City Equity Group!

·        YouTube

·        Facebook

·        Instagram

·        Website

·        LinkedIn

Join Duc Ong and Vince Gethings as they chat with Brent Kawakami about how to escape the W2 rat race. Brent Kawakami is the VP of Acquisitions at Think Multifamily. He has been investing in multifamily since 2015 and has invested in over 600 multifamily units in Texas, Georgia, Kansas, and Ohio. He recounts his journey from simply wanting to learn about passive cash flow, to getting his first 100+ unit acquisition, quitting his 9-5 and finally going fulltime on multifamily investing. He also shares the challenges, best practices and ninja tricks he learned along the way to help others who also want to leave the W2 rat race and start a more purposeful life. You don’t want to miss this!

While most people tend to define their financial freedom goals through numbers, Brent shared that he prefers not to set a specific figure for himself. He believes that the business and the number you make should be based on your lifestyle, purpose and personal enjoyment, and not just some random number. To him, going bigger just for the sake of becoming bigger is not necessarily the best thing. He added that it is important that you find what it is that’s going to give you the most fulfillment and that in itself is a great indicator on what it is that you want to achieve as you go through your own financial freedom journey.

Brent has been investing in multifamily since 2015 and has invested in over 600 multifamily units in Texas, Georgia, Kansas, and Ohio. He started investing in real estate in 2012 buying, rehabbing, and renting single family houses in the Dallas, TX area. Brent has a B.S. in Electrical Engineering from the University of Texas at Austin and is a registered Professional Engineer in the state of Texas. He has worked as a consulting engineer in the power/energy industry leading numerous multi-million-dollar projects and has been responsible for the development of over $1B in construction projects.

Outline of the Episode:

· Brent shares how he started his journey to earning passive cash flow.

·  How did he decide on real estate over all the options he considered?

· Quitting his high-paying W2 jobs and how he made it possible.

· Making sure your climbing the right career ladder.

·  The biggest challenges in deciding to quit your W2 job.

· Defining your own financial freedom goal, and not just by numbers.

· What is your "WHY" for building passive cashflow?

·Brent recalls his first 100+ unit acquisition.

· How the COVID-19 pandemic has affected his collections.

· Brent and Vince share their respective company's strategies to mitigate collection lost

· The best practices for managing third party managers. Making weekly calls is one of them!

· Brent & Vince share their favorite ninja tricks for increasing NOI.

· Weighing on the pros & cons of hiring VAs for your business.

· Not being pushy and being able to say "NO" as an effective approach to get potential but hesitant investors.

· The importance of having outside perspective. Listen to your wife more!

· Brent shares 2 of his favorite and highly recommended books: "Getting Things Done" by David Allen and "Happy Money: The Science of Happier Spending".

 Resources:

·        Think Multifamily

·        The 4-Hour Work Week

·        Getting Things Done" by David Allen

·        "Happy Money: The Science of Happier Spending"

·        Robert Kiyosaki

 Connect with Duc Ong!

·        YouTube https://www.youtube.com/channel/UCy6jjNXZbkUnfLMb5pZT_xg

·        Facebook https://www.facebook.com/tricityequity/

Join Duc and Vince as we talk with Brian Burke about how to be a hands-off investor. Brian is the CEO of Praxis Capital and has acquired over half a billion dollars’ worth of assets over 30 years. He has never lost a nickel of investor’s money during his career!

 Brian gets into his “buy and watch” approach, which is useful during the current market climate. Usually, investors go into deals with a fixed mindset of either “buy and sell” or “buy and fix.” The “buy and watch” strategy gives more room to be flexible and see what makes sense. What Praxis Capital does is when they buy a property, they improve everything to improve the income stream, and wait for the right time to exit! Stay tuned to hear more from Brian!

Brian Burke is President & CEO of Praxis Capital, Inc., a vertically integrated real estate private equity investment firm, which he founded in 2001. Brian is also a member of the Praxis Investment Committee. Praxis operates on multiple platforms, currently managing active syndications for the acquisition of single-family, multifamily and opportunistic residential assets in US growth markets.

 Over the course of a real estate investment career that began in 1989, the offerings Brian manages have acquired over 750 properties, including over 3,000 multifamily units, with the assistance of proprietary software that he wrote himself. Acquired asset classes include single family homes, self-storage, mixed-use and large apartment complexes in multiple states. Brian has arranged well over $500 million in debt and equity for Praxis acquisitions. Praxis’ current portfolio exceeds $200 million of real estate assets under management.

 Brian is the author of The Hands-Off Investor: An Insider’s Guide to Investing in Passive Real Estate Syndications, and a frequent public speaker at real estate conferences and events nationwide.

Outline of the Episode:

•  More than twenty years of using investor money to acquire real estate through many market cycles.
•  A passion for providing passive cash flow for other people.
•  A disaster of a deal and coming to understand the enormous impact that an adverse economic climate can bring.
•  The similarities with Hurricane Harvey and COVID. Job loss, income loss, no evictions, and inability to go anywhere.
•  Gauging when the effects on real estate from COVID are going to normalize.
•  Reminding the responsibility to pay rent and conveying the message that you’re on their side.
•  The “buy and watch” strategy, not a “buy and flip” nor a “buy and hold” type of investor.
•  Going vertically integrated, bringing everything in house, and managing properties that are in their own portfolio.
•  Value-add opportunities and cutting expenses. They combined a 255 unit property with a 284 unit property, creating ten to fifteen million dollars’ worth of value in 18 months!
•  Homerun hurdles and setting yourself up for grand slams.
•  Putting more focus on driving revenue instead of cutting costs on expenses.
•  Improving public speaking skills as a real estate sponsor.
•  Power in economic cycles. Don’t get too happy chasing after get-rich-quick schemes!
•  A cautious and conservative business, not allowing any losses on investors’ money for over 20 years!
•  Learning the ropes as a passive or active investor.

Resources:

·      Brian Burke LinkedIn

·      Brian Burke on Bigger Pockets

·      The Hands-Off Investor: An Insider’s Guide to Investing in Passive Real Estate Syndications

·      Praxis Capital

·      Upside: Profiting from the Profound Demographic Shifts

·      TED Talks: The Official TED Guide to Public Speaking

 Connect with The Cashflow Project!

·      Tri-City Equity Group

Facebook | Instagram | YouTube | LinkedIn

Join Duc and Vince as we talk with Adam Adams to share his experiences with real estate, hiring, and other business ventures. Adam is an investor and partner in seven multifamily syndications with roughly 1400 doors. He’s educated many investors through conferences, radio, podcast interviews, coaching programs, and meetups. We go in detail with his different business ventures, hiring a team that fits your standards, and building a VA and podcast production services. They also get into Adam’s mistakes with his first deal, losing over $500K during COVID, how he got his meetup to be one of the best, and maintaining the focus of your business by having an avatar to serve.

About Adam Adams:

Also known in the real estate community as “Triple A”, has educated thousands of investors through real estate conferences, radio & podcast interviews, his coaching program, and his thriving Meetup group. Adam hosts the Creative Real Estate Podcast, a podcast listened to around the world, with hundreds of thousands of downloads. His efforts to educate and inspire other investors has earned him the prestigious title “Master Investor” by Think Realty magazine and he is also a three-time Hall of Fame winner from RE Mentor for his successes in multifamily syndications. Meetup.com recognized him as one of the top 6 MeetUp organizers in the world (2018).

Outline of the Episode:

• Ensuring that passive investors make money even when the going gets tough. One of the partners became the property manager when the previous one passed away!
• Building a team of entrepreneurs that didn’t take any salary initially and going into syndication with no experience with it.
• Conducting due diligence on the sponsors and your teams. Make sure you know your strengths and weaknesses to find the right people to complement you.
• Jumping out from boot camp and learning more lessons on the first deal. They only raised the downpayment and took eight months to close! 
• Screwing sheetrock on top of moldy sheetrock and taking too long to fire the property management team.
• Steps before you purchase a property. Raise money, select a market, and select a property management company.
• The portfolio in the current environment. Failing to see how many oil and gas industries there are on one property and winning with the rest!
• Change with acquisition strategies and waiting three more months to purchase.
• A deal under contract during COVID. Losing over $500K by backing out!
• Having the constitution and intestinal fortitude to take heavy hits. Getting carpal tunnel by writing checks to save costs.
• Finding needs and providing value in the market. Knowing how to hire the right people.
• Helping people launch podcasts AND get traction. It doesn’t help to have 20 listeners, with half of them your friends only.
• The importance of being the visionary of your business and making things happen.
• Having the best meetup with ONLY five-star ratings!
• Building an ecosystem to please an avatar that is 42-year old male Indian engineer invested in one multifamily deal but has enough money to continue investing.
• The value that personal parking spaces provide. You’ll be surprised to know how willing people are to pay for that!
• Resources and the superpower of marketing.
• Making as much money now to put into compounding interests.

Resources:

·       Adam Adams

·       Facebook

·       YouTube

·       Blue Spruce Holdings

·       My VA

·       My Podcast

·       Best Ever Apartment Syndication Book

Connect with The Cashflow Project!

·       Tri-City Equity Group

Facebook | Instagram | YouTube | LinkedIn

Today on another episode from our education series, Duc and Vince talk about Key Performance Indicators (KPI’s) that a passive investor should track. A limited partner (or silent partner, as we talked about in the last part of the series), needs to be aware of some aspects of a deal when evaluating an offer. You have to make sure that you’re asking the right questions about the deal, and also ensure that the details you’re provided match the risk profile that you’re comfortable with. But unfortunately, a lot of times, people don’t know what these aspects entail, or even have no clue what they mean in the first place! With these metrics provided, we hope that you can make better decisions on what you’re willing to accept based on your risk profile 

Cash-on-Cash Return on Investment

It’s the rate of return that calculates the cash income earned on the cash invested. The formula would be cash invested divided by the cash flow before taxes. It’s very simple, but it’s one of the foundational metrics that many seem to ignore because what people look for are complex ones that we’ll be getting into a little later. But essentially, the higher cash-on-cash ROI early on in a project means a safer investment. The faster your capital is returned to me, the safer the investment is going to be. As far as the equity is concerned, you’re generally looking at an eight percent cash ROI at acquisition.

Average Annualized Return (AAR)

This is a percentage used when reporting the historical return on investment. That means the entire project, including the sales and the exit. It will average all of those years across each other. With that said, AAR’s can hide some of the poor performance early on in a project. For example, on projects that you do value adds, the first year or two will be really low (or even negative), but you might have a big sale at the end. Because the AAR is an average, it hides some of that part of the process, which might make you reconsider an offer.

Internal Rate of Return (IRR)

The IRR is the rate of return needed to convert the sum of all future cash flows to equal the initial equity investment. It’s taking out all future cash flows and discounting them back to zero. The IRR’s difference with AAR’s is that the IRR takes time into account, while the AAR does not. While some people think it’s the pinnacle of investing metrics, we don’t. One of its limitations is that it doesn’t tell you the timing of the cash flows related to the project’s risk profile. It doesn’t answer how fast you’ll get your money back. For example, we can think of two projects that have the same IRR. One is more of a flip that gets you your sale at the end of five years, but nothing in the first four years and the other is a project where you get decent cash-on-cash ROI on the first four years and a modest appreciation at the end. 

Head on over to the Cashflow Project to hear the rest of the metrics you’ve been missing! The more you know, the better.

If you enjoyed the episode, make sure to share the podcast with a friend!

Outline of the Episode:

• What are cash-on-cash returns on investment?
• What is an average annualized return (AAR)?
• How about internal rate of returns (IRR)? Why do people love them so much?
• What is an equity multiple?
• Capitalization rates (cap rates), prevailing cap rates, cap rates at acquisition, terminal cap rates, and reversion cap rates.

Connect with The Cashflow Project!

Tri-City Equity GroupFacebook | Instagram | YouTube | LinkedIn

Join me and Vince with Gino Barbaro from Jake and Gino as we talk about creating multiple income streams. From his humble beginnings in a pizza restaurant, Gino is now handling over 1600 units in multifamily. He shares multiple ways to take control of a growing business (or businesses!) and have clarity on the things that matter. From a small Airbnb, you can go to duplexes, triplexes, and venture out to property management or even education! Creating these layers of revenue allows you to be free and provide value to others as well.

While that sounds easy on paper, the way to success is never easy. You have to know where to dedicate your time and focus on generating revenue. At the early stages of your business, you’d find yourself doing everything yourself, but be open for that moment that doing small tasks is no longer profitable for you. If you can do something for $15 to $20 an hour (like bookkeeping or fixing a toilet), you shouldn’t be doing that anymore! Find the people who can do that job to help you pay attention to the things that will generate more income. It’s your responsibility to get the things that you want in life, and now’s the time to do it!

About Jake and Gino:

What started out as a conversation between friends has exploded into a thriving real estate investment business that continues to grow in size and profitability.

Jake and Gino are both experts in multifamily real estate investing and have achieved, in just a few years, the sort of financial freedom they always wanted but weren’t sure was possible.

If a pizza guy and a drug rep can do it, we know you can too! Unlike many Investing Consultants and so-called Business Coaches, Jake and Gino have done the work with the assets to back their success strategies while consistently reaching their goals. They are passionate about sharing their journey with you.

Outline of the Episode:

• Starting in the restaurant business and getting into multiple income streams.
• The history behind the brand name. The more money you make, the more value you provide.
• Enjoy doing the thing you’re getting paid for!
•  Why multifamily real estate? Cashflow, appreciation, tax benefits, and cycle resiliency.
• Building multiple streams of income SLOWLY.
• A nice and clean deal for a long-term hold.
• Looking at the vintage because all the other older assets are too overpriced!
• The value of getting a life coach to avoid getting stuck in the rat race mentality. 
• Getting mentors and coaches are an expense, but you’re investing in yourself! Even Lebron James and Tiger woods have coaches.
• Being obsessed with working. With that said, does balance even exist?

Finding the right kind of employees because of establishing core values. They let go of an employee who didn’t want to mop the floor!

• The Honey Bee: how should business owners be looking at their own tasks? You shouldn’t be fixing toilets when you have 100 to 150 units!
• The power of visualizing on giving focus and clarity.
• Figuring out that you have to be responsible for your own life. If you don’t have what you want, it’s because of you!
• Providing value to the community and growing it.
• Surrounding yourself with likeminded people.

Resources:

·      Jake and Gino

·      Facebook

·      Twitter

·      Instagram

·      LinkedIn

·      The Honey Bee

·      Limitless

·      Think and Grow Rich

·      Tony Robbins

·      Zig Ziglar

·      Jim Rome

Connect with The Cashflow Project!

·      Tri-City Equity Group

Facebook | Instagram | YouTube | LinkedIn

Join Duc and Vince with Kenny Wolfe from Wolfe Investments as they talk about how he found success in syndication. Kenny was one of those who didn’t fit in the “cookie-cutter” future that everyone seemed to advertise. He didn’t want to get a degree, work for a company for 40 years, then sack away money into stocks. Reading a lot of books led him to an interest in real estate, which led to buying more books about real estate, which eventually led to his wife saying, “you gotta stop buying books and do something.” Now, he’s at the top of his game!

In the episode, you’ll learn how Kenny got started in real estate through a 76-unit deal, the importance of logistics in finding deals, his preference over “real” teams versus virtual assistants, and the importance of staying calm when others are not. Kenny also shares his expertise with third party management, the importance of getting the right reports regularly, doing surprise visits, and knowing your property managers. Stay tuned, and enjoy the podcast!

If this episode gave you a ton of value, make sure to share the podcast here!

About Kenny Wolfe:

Kenny is a principal in 2,659 units (4,004 units all-time) in the Dallas/Fort Worth, TX area, El Paso, TX, Waco, TX, Oklahoma City, OK, Columbus, OH, and Cleveland, OH.  He has been involved in over $250MM+ worth of commercial real estate acquisitions since 2010. 

Prior to founding Wolfe RE Mgmt, Kenny served as CFO for Twin Cities Development based in the heart of the Haynesville Shale in Shreveport, LA. He was responsible for all areas of accounting and financial reporting, as well as the human resources role for 140 employees and independent contractors. 

Kenny has a BBA from Baylor University and an MBA from University of Texas at Arlington.

Outline of the Episode:

• [01:54] The “aha” moment to getting to earn passive income.
• [02:48] Getting into real estate and jumping right into a 76-unit deal.
• [08:17] The different reasons he had for going into real estate. These things change over time!
• [08:59] Dealing with bears and cougars in different properties!
• [10:57] Logistics is key to your deals. Kenny had to wait extensively to get the residential building vacant before being able to do any renovations!
• [13:19] Feeling the pulse on your properties by doing surprise visits. The secret of the “Trash Test”: knowing if your property managers care.
• [16:42] The value of dog parks and upgrading units to adding your NOI.
• [19:16] Virtual assistants versus real assistants. Why does Kenny prefer the latter?
• [20:44] Not buying anything over 100 units and keeping every property under third party management.
• [23:36] Hiring the right people is key to being the best-in-class operator!
• [27:11] Communicating to residents and providing rental assistance/payment plans during the pandemic.
• [29:43] Picking up strategies from books. Which one should you read?
• [31:46] Remaining calm when others are not. Deals are almost never a straight line but instead go in a zigzag direction!
• [32:45] Outdoor activities with the family and favorite travel destination.

Resources:

·       Wolfe Investments

·       Facebook

·       YouTube

·       LinkedIn

·       Email: [email protected]

·       Rich Dad Poor Dad

·       Investing in the Dream

·       Titan: The Life of John D. Rockefeller, Sr.

·       The Snowball: Warren Buffett and the Business of Life

Connect with The Cashflow Project!

·       Tri-City Equity Group

Facebook | Instagram | YouTube | LinkedIn

Today on the educational series of the podcast, join Duc and Vince as they give the steps to screen sponsors for your next deal! This is a big undertaking, especially for new investors. Your vetting skills for a deal sponsor determine the result of the time, money, and effort that you will be investing in the deal for the next five to ten years. We will get into some of the jargon that you might be confused with, the things you should look for in a sponsor, the questions you should ask, and expectations to set up. 

GP’s and LP’s, Sponsors and Equity Partners

To clarify things, when somebody says GP, that’s a general partnership, a sponsorship team. Other people also call them operators because they operate the property. These people are the managing entity that basically does all the work. If you hear things such as LP, equity partner, and silent partner, those all mean the same thing. They are the people who just put up their money for the deal. While they don’t have any say with what happens to the deal or the property, they also don’t have day-to-day responsibilities (as opposed to the operators or the GP). 

Don’t Get Distracted by the Flashy Design, Look at the Important Things!

Vetting a general partnership group is an involved process with certain key elements to keep in mind.. The first ones are the track record and experience. It’s essential to know what the sponsorship team has worked on in the past, as this may be an indication of future performance (though not always guaranteed). Another aspect to look into would be the different people that comprise the team (including third party members). By looking at the team’s components, you would see characteristics that might not show up through your questions. Speaking of which, you also have to read between the lines. Make sure that the way they answer your questions establishes transparency and clarity. Never think that there are “stupid” questions, ask it even if you’re 99% sure but need to clarify if you’re on the same page.

Want more tips? What about the numbers and documents? Listen to the full episode on The Cashflow Project!

If this episode gave you a ton of value, make sure to share the podcast here!

Outline of the Episode:

• [00:29] Jargons: GP, sponsors, and operator versus LP, equity partner, and silent partner
• [01:49] What is a deal sponsor? Track record is important, but remember that past performance doesn’t always guarantee future success!
• [02:36] The details to look for in a sponsorship team. Experience, advisors, and intuition. 
• [03:42] The different people that work in a GP – deal finders, operations, and investor relations.
• [05:35] What about third-party team members? Property managers, contractors, attorney, and the lender.
• [08:18] The importance of referrals for limited partners and when looking for sponsorship teams. Look for somebody that has been a past investor with you. 
• [09:22] Acceptable expectations for sponsorship teams. Read between the lines and see how they answer your questions. What communication will you be getting? 
• [10:49] What questions should an investor ask a sponsorship team? Watch out for cash calls! Remember that this is going to be your partner for the next five to ten years.
• [13:36] Vetting the sponsoring of the deal as an LP. Keep that in mind, because there’s not much else to do!

Connect with The Cashflow Project!

·       Tri-City Equity Group

Facebook | Instagram | YouTube | LinkedIn

Join Duc and Vince with Bruce “The Apartment Guy℠” Petersen as they talk about the secrets to real estate and syndication. Bruce was a college dropout, found himself in retail, and worked there until he retired at the age of 43, with no wife and kids. Seeing that all his friends are still going to work and providing for their families, he made a move to figure it all out. Bruce went on Google to find a mentor, and eventually made his way to become a syndicator for multi-family properties across Central Texas. He shares his take on the current market condition, an impressive trick to cost segregation, the value of mentorship, and many more!

If this episode gave you a ton of value, make sure to share the podcast!

 About Bruce Petersen:

 The Apartment Guy℠, Bruce Petersen, is a syndicator of large multi-family properties throughout Central Texas ranging in size from 48-292 units. He was awarded the Austin Apartment Association’s Independent Rental Owner of the Year for 2016 and the National Apartment Association’s Independent Rental Owner of the Year for 2017 as well as Think Realty's Multifamily Investor of the Year 2019.

 Bruce targets stabilized properties where he can buy a cash-flowing asset and drive value through building "community" and improved operations. He is able to do this by implementing his proven systems and deploying his experienced staff to replicate his business model across new acquisitions.

 Outline of the Episode:

• [02:13] A 43-year-old retiree turned real estate investor!
• [03:32] Learning finances as a stockbroker. It’s not as glamorous as you think!
• [05:33] A passion project of building a special needs apartment complex. They need a place where they can be independent.
• [07:29] Buying a two-property portfolio of 484 units and needing to raise $12 million.
• [12:48] Why you should be conducting due diligence – leaky pipes and plastic bathtubs.
• [16:13] The faster velocity of scaling in syndication versus flipping in multi-family. There is a huge value to at least doing something rather than not doing anything.
• [21:53] The uncertainty of gauging the value of anything at the moment because of the variety of unknown variables in the market.
• [25:04] Don’t assume anything in real estate! 
• [27:50] You need to get out of your comfort zone and build your network. Be self-aware and know your strengths and weaknesses.
• [32:33] Tax protests and cost segregation. How did Bruce get three tax refund checks all over $30,000?
• [39:39] Don’t put yourself in a position where you are prone to making irrational decisions. The importance of having someone looking out for you from the outside!
• [43:19] Making money off of your residents’ opinions. It’s essential to build a community!
• [49:11] What if you taught your residents financial literacy, so they learn how to save and be able to pay rent even during times like these?
• [51:50] Understanding how money flows in the economy through resources outside of school.
• [53:11] Tough love and being truthfully supportive.

Resources:

·       Website

·       Facebook

·       Instagram

·       LinkedIn

·       The Miracle Morning

·       Wealth Can’t Wait

·       Killing Sacred Cows

Connect with The Cashflow Project!

·       Tri-City Equity Group

Facebook | Instagram | YouTube | LinkedIn

Join Duc and Vince with “Mr. Smiles” Vinney Chopra as they talk about growing in multifamily. Since coming to the U.S. more than 40 years ago with only $7 in his pocket, he’s now amassed success in multiple arenas. He’s an expert marketer, a motivational speaker, a real estate investor, and many more. Vinney has always believed in individuals’ ability to shape the world through positive thought and selfless action. Today on the podcast, he gives tips to increase your NOI, what mistakes you should avoid in syndication, and many more. Stay tuned, and enjoy the podcast!

Learn Vinney Chopra’s secrets to success!  – Listen to the podcast now on The Cashflow Project!

There’s a reason Vinney’s nickname is “Mr. Smiles,” which is evident even through just hearing the demeanor in his voice! He has always believed in individuals’ ability to shape the world around them through positive thought and selfless actions, and he has been a passionate motivational speaker and teacher for over three decades. After getting a taste of sales and marketing while pursuing his MBA, Vinney decided to leave engineering altogether and become a motivational speaker and fundraiser. He worked tirelessly to build clientele that would work with him annually to raise the funds to meet their goals and dreams.

Outline of the Episode:

• [02:57] How did Vinney handle the housing bubble burst? He quickly lost $1.5 million on a Monday morning!
• [04:59] Closing his first 14-unit deal and his most recent 109-unit deal. It's a big change over the years!
• [07:35] The direction of multifamily in the short term and long term with the current situation.
• [10:49] Getting an offer of 19 million just before the Coronavirus hit!
• [12:55] The mistakes that Vinney made in real estate. Vinney's take on building teams, getting the right partner, localizing, due diligence, and transparency.
• [16:50] Have the fundamentals changed because of the pandemic? How office spaces will be cut down due to people working from home.
• [20:05] How do you identify emerging markets? Do your research and look at the data!
• [22:40] The benefits of being conservative. People will talk about you if you lose your investors' money!
• [23:54] Why is it essential to use a reversion cap rate to exit? When everything else is trending up, why should you choose to go down?
• [28:00] Tricks for increasing your NOI – make sure to have your notebooks ready!
• [32:10] Cutting expenses from vendors: Vinney cut down the price of putting asphalt on a parking lot from $450K to $123K! Watch out for those huge overhead costs!
• [36:14] Juggling different plates in real estate. Which ones are the big plates, and which ones are smaller plates?
• [37:29] Vinney's focus on multifamily, senior living, and hospitality. Where are the opportunities in real estate going?
• [39:30] Vinney's superpower of compartmentalizing and putting ideas together quickly!
• [42:34] Episode Recap

Resources:

·       Fannie Mae

·       Freddie Mac

·       Berkeley Point Capital

·       Top 5 Mistakes in Multi-Family

·       Apartment Syndication Made Easy

·       Big Shifts Ahead

·       Nest

·       Dropbox

·       Vinney Chopra’s Website

·       Email: [email protected]

Connect with The Cashflow Project!

·       Tri-City Equity Group