Occupancy Went Down After Cleaning House at Property but Value Increased with Vinney Chopra
In this episode, we welcome Vinney Chopra. Vinney is an experienced multi-family real estate investor and has closed a total of 26 multifamily syndications in his years in the industry. Tune in as he shares his journey from migrating to the US 40 years ago with $7 in his pockets and the tough decisions he had to face to reach where he is now.
Vinney Chopra’s Interview Show Notes:
- 00:22 – Introducing today’s guest, Vinney Chopra
- 00:50 – Vinney’s background
- From India to San Francisco 40 years ago with just $7 in his pocket
- He was a mechanical engineer
- His life as a motivational speaker
- Getting into real estate investing
- 03:56 – Vinney’s sore thumb tough decision
- The struggle was really in hiring
- The most money lost throughout his career involved hiring the wrong people
- 06:15 – What Vinney looks at now in a resume
- 08:17 – A tough decision that had a great outcome
- Getting a property in Houston 5 years ago
- A-Class renovation happened
- Vinney reclassified tenants that made rentals go up
- 10:55 – The strategy Vinney uses in making decisions
- Basing decisions on logic: positive vs negative
- 12:19 – Need help with passive real estate investments? Go to HandfordCapital.com
- 13:16 – Vinney’s favorite technology: iPad and iPhone
- 14:12 – Vinney’s favorite quote: Let things happen, don’t sweat the small stuff because life is too short, and you have to be always giving value to people around you
- 16:20 – Vinney’s favorite book: The Power of Now and The Miracle Morning
- 17:32 – Connect with Vinney on his website, Moneil or by texting SYNDICATION to 474747
Key Takeaways from Vinney Chopra:
- A resume should not be the sole basis for hiring people.
- Sometimes, even good hires turn to bad ones in a snap.
- Look at decisions in a logical way where stakeholders get a win-win situation.
Mentioned Resources by Vinney Chopra:
- iPad and iPhone – Vinney’s favorite technologies
- The Power of Now and The Miracle Morning – Vinney’s favorite books
Who are Dan & Dennae Handford? Find out by listening to episode zerowhere they share their journey as true, authentic serial entrepreneurs.