Vinney (Smile) Chopra came to the US from India with $7 in his pocket, sold encyclopedias and bibles door-to-door as a student, graduated from George Washington University and became a mechanical engineer. As a syndication expert he has facilitated over 20 successful syndication deals and has acquired and manages a very successful real estate investment portfolio worth over $100 million.
Vinney has been a professional Fundraising Consultant and Motivational Speaker for over 35 years. He has given over 10,000 exciting speeches and seminars on Fundraising, Positive Thinking, Enthusiasm, Goal Setting, Balanced Living, and has been involved in Business Coaching. He travels and gives live presentations and webinars on Wealth Building. Creating Wealth with Multifamily Investing, Value-Add Win/Win Negotiations, Emerging Markets, Market Cycles, Economic Funding, Commercial Properties Analysis, Due Diligence, investing in Multifamily and the Art of Raising Private Money.
Vinney has been selected by Real Estate University (Online) to impart his vast skills and knowledge to teach other investors “How to go about putting multi-family/commercial deal together” and how to raise “Private Money from Sophisticated and Accredited Investors”. He has a passion for mentoring and making other people successful. He brings Investors on as Equity Partners, allowing them to share in cash flow through quarterly payments and equity gains when the property is sold. He likes to make everyone feel very special and believes that we are entrusted to do well in life for the people we come in contact with each and every day.
Vinney believes in total clarity and proper communication with investors so they are aware of what is happening with their assets at all time. He is passionate about making differences in the lives of people around him and people often refer to him as Mr. Smiles and Mr. Enthusiasm. He enjoys giving seminars to larger groups of investors and helping them explore their great avenue of Building Wealth through Commercial Investing from the funds in self-directed IRAs, 401(k) and other tax deferred alternatives. His company is built on a philosophy of “Delighting the Investors,” with utmost attention paid to listening, analyzing, relationship building and with total transparency of operations with Integrity, Trust, Loyalty and Clear Communication.
The #1 and #2 indicators to focus on when evaluating potential markets. Identifying and evaluating emerging markets. Step by step through a syndication. An important decision Vinney has made about involving friends and families as potential investors. What is the SEC 3-Touch Rule? What is a PPM? What is an accredited investor? The strategy Vinney uses to build credibility with investors. Raising $5 to $7 million in 24 hours. The key traits in the syndication world. How Vinney warms up and educates potential investors. Building a team with brokers, inspectors, and appraisers. The advantage of working with listing brokers. A strategy to get off-market deals. The Acquisition fee opportunity. The importance of transparency in management fees. Using your automobile as a University.[/vc_column_text][/vc_column][/vc_row]
If you are starting out as a real estate investor, it is crucial to build your reputation first. Before you can land a deal with a sponsor of a multifamily syndication, it’s important for people to know that you are a reliable partner for their business venture.
In a way, a good reputation can significantly increase your chances of joining an investment setup. On the other hand, a bad reputation comes off as a red flag to potential business partners. They wouldn’t risk getting you on board if you happen to have a stain on your credibility in property investing. For this, you will have to make the effort of polishing up your image to attract profitable opportunities.
In my experience in the multifamily arena, having a great reputation brings in massive payoffs. One lesson I have learned is to start out small. You can’t expect to bring in bigger fish if you don’t have the right size of net. In this sense, your reputation should be the net for getting bigger catches. I started out with single-family investments before venturing into larger investment setups. Along the way, I was able to build my reputation until I managed to build multifamily syndication with even larger profit-making opportunities.
You can go the same way I did by applying these easy steps that will help you build your reputation.
Just because you are in the business of making money from the property market it doesn’t mean you should be aggressive with your pitches. If there’s anything that’s bad for business, it’s recklessness and pride. These two go together when you are dealing with potential business partners, because if you have too much pride, you make really bad decisions in return. If you don’t want toget turned down, tone down your ego.
People will listen to you more if you show them something that provides value. With that being said, make sure to communicate what matters the most to potential partners. If you have a compelling idea that’s worth their time, they will find an opportunity to talk to you about it. Before long, you can land a lucrative deal with them.
Of course, before you engage potential partners, you need to know how to talk to them directly and in a way that allows you to build rapport. People have different personalities, but it’s always best to be consistent with your talking skills in every unique interaction you take part in. Start by practicing your “elevator speech.” With constant self-training, you will be able to seamlessly engage other investors.
Once you apply these easy tips to building your reputation, you will be on your way towards making it big in real estate investing.
In any real estate deal, trust should always be the most important element that should bring out the best results. Professionals need to learn how to build rapport. It would be hard for them to look for opportunities to grow their ventures if they are unable to make any friends.
As you meet people along the way, you also need to make sure that the networks you are forging will produce something of value.
The same is true in real estate investing. If you are set on acquiring an apartment complex and create a multifamily syndication, you need people who are ready to commit to your project. For them to offer their resources, it’s imperative to reach a certain level of trust.
Business, after all, is all about building relationships that benefit everyone involved. To make this happen, you need to show that you can deliver on the terms you have set for the syndication. It might seem like the easiest thing to do, but when you are faced with investors who are focused on getting the most profit, it would take some time (and several cups of coffee) before you can get them to commit.
I would like to say that your investors are your partners in syndication. They bring the equity share of the deal as class A members of the purchasing LLC. As such, they share in the monthly and quarterly cash flow and acquire gains upon the sale of the apartments. They are also on the title.
With that being said, here are the best ways to building investor trust.
One way to let investors know you can deliver on the promises of a good return is to sit down and listen to their needs and opinions. Investors, after all, are more focused on getting the highest possible returns from their investments. By paying attention to this need, you will be able to make valid proposals that will attract them to your venture. With the internet and many platforms available it’s so easy to Webex, Zoom or FaceTime to build strong relationships even across the long distances.
Your investors will trust you more if you involve them in the process. In other words, it’s important to give them everything they need to know about your plans for a multifamily syndication. Make the effort to give them the information they need every step of the way. Doing so will keep them interested. They are bound to stay with you until your syndication takes off! I like to send newsletters periodically; keep them updated with positive new pieces of news, articles about the growth of the targeted emerging segments of the market where we are doing extensive research and underwritings.
Another way to keep investors within your circle is to make them happy. In this sense, try to offer them a proposal they couldn’t refuse. And I don’t mean place a severed horse’s head beside them while they are asleep. A better (and more legal) way is to know what’s valuable to your investors and build your offer around it.
Apply these tips so you can create a syndication that’s full of happy investors.