CP11: From $7 to $300M: How Vinney Chopra grew his multifamily syndications and other businesses

Join Duc and Vince with “Mr. Smiles” Vinney Chopra as they talk about growing in multifamily. Since coming to the U.S. more than 40 years ago with only $7 in his pocket, he’s now amassed success in multiple arenas. He’s an expert marketer, a motivational speaker, a real estate investor, and many more. Vinney has always believed in individuals’ ability to shape the world through positive thought and selfless action. Today on the podcast, he gives tips to increase your NOI, what mistakes you should avoid in syndication, and many more. Stay tuned, and enjoy the podcast!

Learn Vinney Chopra’s secrets to success!  – Listen to the podcast now on The Cashflow Project!

There’s a reason Vinney’s nickname is “Mr. Smiles,” which is evident even through just hearing the demeanor in his voice! He has always believed in individuals’ ability to shape the world around them through positive thought and selfless actions, and he has been a passionate motivational speaker and teacher for over three decades. After getting a taste of sales and marketing while pursuing his MBA, Vinney decided to leave engineering altogether and become a motivational speaker and fundraiser. He worked tirelessly to build clientele that would work with him annually to raise the funds to meet their goals and dreams.

Outline of the Episode:

• [02:57] How did Vinney handle the housing bubble burst? He quickly lost $1.5 million on a Monday morning!
• [04:59] Closing his first 14-unit deal and his most recent 109-unit deal. It's a big change over the years!
• [07:35] The direction of multifamily in the short term and long term with the current situation.
• [10:49] Getting an offer of 19 million just before the Coronavirus hit!
• [12:55] The mistakes that Vinney made in real estate. Vinney's take on building teams, getting the right partner, localizing, due diligence, and transparency.
• [16:50] Have the fundamentals changed because of the pandemic? How office spaces will be cut down due to people working from home.
• [20:05] How do you identify emerging markets? Do your research and look at the data!
• [22:40] The benefits of being conservative. People will talk about you if you lose your investors' money!
• [23:54] Why is it essential to use a reversion cap rate to exit? When everything else is trending up, why should you choose to go down?
• [28:00] Tricks for increasing your NOI – make sure to have your notebooks ready!
• [32:10] Cutting expenses from vendors: Vinney cut down the price of putting asphalt on a parking lot from $450K to $123K! Watch out for those huge overhead costs!
• [36:14] Juggling different plates in real estate. Which ones are the big plates, and which ones are smaller plates?
• [37:29] Vinney's focus on multifamily, senior living, and hospitality. Where are the opportunities in real estate going?
• [39:30] Vinney's superpower of compartmentalizing and putting ideas together quickly!
• [42:34] Episode Recap

Resources:

·       Fannie Mae

·       Freddie Mac

·       Berkeley Point Capital

·       Top 5 Mistakes in Multi-Family

·       Apartment Syndication Made Easy

·       Big Shifts Ahead

·       Nest

·       Dropbox

·       Vinney Chopra’s Website

·       Email: [email protected]

 

Connect with The Cashflow Project!

·       Tri-City Equity Group