Matt Aitchison talks to Vinney Chopra about multifamily syndications. With only $7 in his pocket, Vinney came to the US to find opportunities, and so he did!
Like many people that came into this country, Vinney knows that the American Dream only works if you are dedicated towards. So, while he was taking up an MBA at the George Washington University, he was sold Bibles and encyclopedias to earn for his tuition. In a way, he taught himself how to conduct business and deal with people in the most effective way. He realized then, that he was not cut out for office work. He decided to cultivate a career in the real estate market.
From then on, Vinney read a lot. It was through his self-education that he was able to refine his business skills and become an even more competent real estate investor. Seeing the importance of knowledge as a means to get ahead in such a competitive environment, Vinney spent ample time studying the real estate industry by reading motivational books by such others as Og Mandino and Napoleon Hill. It was through these authors that he was able to nurture a mindset that’s focused on success.
Using his people skills and his knack for analyzing systems, Vinney was able to make a name for himself, first in the single-family sector, and later the multifamily sector. Much of his success in real estate investing came from investing in apartment complexes. He found out that, unlike single-family properties, multifamily properties offer greater scalability. This would allow him to secure greater cash flow.
It was not easy at first because he had to secure financing. Apartment complexes don’t come cheap. But with a little persistence, he was able to close his first syndication deal, and after that, his successes kept on coming.
By now, he has already closed 26 successful syndication deals with a value of at least $200 million. Listen to Vinney in this episode to find how you can start your journey from $7 to your first million.