Target Market Insights With John Casmon, Episode 18

 

Click here for Episode 18: From $7 and a Smile to $200 Million with Vinney Chopra >

From $7 and a Smile to $200 Million with Vinney Chopra

Vinney Chopra came to the U.S. from India with $7 in his pocket, and now he can raise $10 million in a day or two. Known for his friendly and engaging personality, Vinney has earned the affectionate nickname of Mr. Smiles. As a multifamily sponsor he has facilitated over 26 successful syndication deals and manages a successful real estate investment portfolio worth over $200 million. On this episode of Target Market Insights, he shares his thoughts on which markets are emerging and how to identify them. Listen Now!

 

Key Market Insights

  • Started in multifamily in 2006, did not know the meaning of LOI, NOI, IRR or Cap Rate
  • 24 of his 26 syndications are in Texas, with the other two being in Georgia
  • First deal was 14 units, later that week they bought 109 units
  • At the time, Midland-Odessa, TX had the lowest unemployment rate, flew there and met with brokers
  • Mentored by Dave Lindahl, author of Emerging Markets
  • Emerging Markets: Utah, Dallas, Sacramento, Columbus, San Diego, Portland, Reno, Atlanta, Houston, San Antonio
  • Have the business plan & pitch ready for brokers and investors
  • Looks for cash flow day one
  • 12 syndications in the last two years
  • Can raise $6-10 million in 1-2 days, investor base of 128 investors
  • Selecting the right target market is the key to deliver investor returns
  • Figured out how to have the syndication break up into TICs for reinvestment
  • Creating a $50 million, 506(c) fund for investors
  • What to look for when seeking an emerging market: job growth, population growth, path of progress, where are new businesses, how many units are coming on the market, what are major attractions and retailers?
  • To find topline info on a market, look at an offering memorandum and send info/articles to your investors

 

Bull’s Eye Tips:

Winning Your Market: Focus

 

Market Changes:

IRR Reports, Chamber of Commerce, market reports, talk to the mayor (mayor’s office)

 

Daily Habit:

Meditate in the morning and pay gratitude

 

Resources:

How to Determine Emerging Markets eBook by Vinney Chopra

 

Best Business Books:

Emerging Real Estate Markets by Dave Lindahl

Rich Dad, Poor Dad, New Edition by Robert Kiyosaki

Law of Attraction by Michael Losier

The Secret by Rhonda Byrne

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