Scaling Multifamily Investing with Partners with Chris Pomerleau and Collin Schwartz
- E53
- 50:07
- April 6th 2021
Join Duc and Vince as they chat with Chris Pomerleau and Collin Schwartz about creating business partnerships and scaling multifamily investing. Colin used to work nine-to-five desk jobs before owning Bricktown Management. Meanwhile, Chris served in the U.S. Army for a while before practicing law and learning about real estate. After reading Rich Dad Poor Dad by Robert Kiyosaki, both realized that they needed to find a way to earn a stable income, save up for retirement and still, spend time with family. Hence, the two made it a mission to gain the flexibility to do what they want when they want. Now, if you, too, seek financial freedom, tune in to today’s episode and learn more about how Chris and Collin got theirs!
Building Relationships in Business
We build relationships as soon as we are born, and we continue to do so every day since then.
But, among the people we meet throughout our lives, only a few see the world the same as we do. Hence, why meetups, even small ones, are essential for entrepreneurs. They connect like-minded people from different fields, spawning projects upon projects, often leading to successful businesses. However, meetups are not the only ways to build relationships in the industry.
Nowadays, social media platforms such as Facebook and LinkedIn are the more popular choices. Here, meeting investors can also double as making friends, which gives partnerships a more solid foundation.
About Chris Pomerleau and Collin Schwartz:
Chris Pomerleau and Collin Schartz are the founders of Park Ave Capital, LLC. As the Director of Investment Strategy, Chris oversees the acquisitions of assets and business development activities. Meanwhile, Collin manages the day-to-day operations of investments as the Director of Operations.
Outline of the episode:
● [04:47] What motivated them to pursue an entrepreneurial path.
● [06:38] How the two scaled to 50 million dollars in assets in 3 years.
● [08:33] Their most recent deal from friend Steven Ward.
● [14:07] Chris’ law experience and the syndication business.
● [21:19] Knowing what tool to use to take down values and deals.
● [23:14] How their largest meetup helped grow the business.
● [29:15] Collin’s transferable skills from his desk job to real estate.
● [32:06] The first company that started the Chris and Collin dynamic duo.
● [32:56] Tackling vertically integrated property management.
● [38:06] Chris and Collin’s favorite systems, which improved effectiveness and efficiency.
● [42:14] The dynamic duo’s superpowers.
● [43:23] The most important lessons they learned in both of their careers.
● [44:14] Chris and Collin’s advice in gaining financial freedom.
Resources:
● Company Website: https://parkaveinvesting.com
● Chris Pomerleau’s Linkedin: https://www.linkedin.com/in/cashflowwithchris
● Collin Schwartz’ LinkedIn: https://www.linkedin.com/in/collin-schwartz-64519953
● “Rich Dad Poor Dad” by Robert Kiyosaki: https://www.amazon.com/dp/1612680194
Connect with The Cashflow Project!
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The Cashflow Project
This is for busy professionals who are looking for financial freedom through passive income, with a focus on cashflow assets in Multifamily Real Estate. We will be covering a variety of topics such as buying, managing, and selling real estate assets, specifically apartments.
To learn more about us, visit tricityequity.com