Categories: Podcast

113 – From $7 To $326 Million In Real Estate Assets with Vinney Chopra

Synopsis:

Vinney is a multifamily investor here in the Bay Area who started his journey from 7 dollars in his pocket to owning over $326 million in assets! In this episode, Vinney will share his story of how he built his portfolio and how to scaled his business by syndicating deals with other investors to invest in commercial real estate.

Key Points:

Vinney’s story shows that you can start with a humble background and still make it big in the industry. Investing in commercial real estate makes sense because it allows you to scale quickly. There are a number of ways to increase your profits such as using the RUBS system to save on utility expenses that will make the overall asset worth more when you sell or refinance. If you’re interested in becoming a real estate syndicator, get a good mentor or coach, they’ll be able to guide you and help you avoid the mistakes that they made in the past. Guard your investor’s money more than your own and they will keep coming back to invest with you.

Show Notes:

Who is Vinney

Vinney originally is from India and now lives in Danville, California. He’s a mechanical engineer and came to the USA to do his MBA in sales and marketing.

Vinney In Real Estate

Vinney started single-family real estate in California. He got his broker license last 2004. He states that single-family rental was not giving the kind of cash flow that he expected so he shifted to residential commercial. For single-family, it’s having like 30 different transactions of 30 different loans. In multi-family, it’s like one loan, transaction, place and you could hire one company to take care of all those things.

What Makes A Good Mentor

A good mentor is somebody who’s passionate about teaching. A mentor can be only as good as they put effort into the person they’re teaching or a student and giving them everything they got. He got to have a regular schedule of meeting with students to excite, motivate and give them knowledge. Also, mentors should be well sought through.

Buying Criteria

Cash-on-cash is the number one criteria of Vinney. He is buying from C minus to be B plus assets, which are newer because of the age and difference in maintenance. Vinney states that it is very important to have a business plan and an exit strategy. He never buys A because they are too expensive.

Strategy For Raising Money

For accredited investors, having a website and advertising is a good thing. Vinney mentions pre-existing relationship is very important as well to build rapport. He goes to meetups and has his own academy where he teaches students how to invest, analyze deals and raise money.

Tips That Vinney Wants to Give To Himself

Decide for yourself and always have an entrepreneur mind that even the age of 14. Because when you really get into that mode, that’s when you can start building your right thinking. His goal is to teach how to save money and how to build an entrepreneurship mind early on in the age so that you can be thinking about real estate. Learn, be better today and take massive action.