Jan 21, 2020
Have you ever considered stepping away from your corporate cubicle and trying something different? Tired of working on the same product or different variations of it every year? Being an engineer can be boring. After all, it’s not rocket science.
Today’s guest is James Kandasamy, who worked as an engineer and spent 22 years in the corporate business world. He took a giant leap to try something different. James settled on real estate and started investing in single-family homes. He moved onto bigger and better deals in the multifamily space. Not only does James raise money, but asset-manages his properties.
Topics on Today’s Episode:
- How much money needs to be raised per deal? $3-$4 million on average
- What and Who You Know: How to get your foot in the door to raise money
- Be Like Corey: True investors already know real estate and syndicators
- Positive Track Record: Underwriting deals, defining and executing business plans, and communicating directly raises money and returning customers
- Word-of-Mouth: People like to give money to those they’re referred to
- Build Relationships: Tell people what you do; if they want to invest, you have an established relationship already
- Unconventional Methods: Find deals with awesome prices by doing your own marketing and prospecting to direct sellers
- Investment Portal Software: Not the Holy Grail for raising money
- Value Add: Keep on adding free value through podcasts, content, and more
- Corey and James: People you know, like, and trust; raising money is personal
- Capital Raises to Raise Money: New people know capital raises, capital knows GPs/sponsors
- Property Management: Hardest part of multifamily properties
- Fear of Missing Out (FOMO): Social media exaggerates psychological optimism
- Four Market Cycles: Recovery, Expansion, Hyper-supply, and Recession
- Passive Investors: Learn how to select deals, sponsors, and markets; diversify; and what kind of cash to use
- Best Tips: Be patient, only do good deals, and interact diligently with investors
Links and Resources Mentioned:
- Achieve Investment Group
- James Kandasamy’s Email
- Passive Investing in Commercial Real Estate: The Insider Secrets
- Achieve Wealth Through Value Add Real Estate Investing Podcast
- James Kandasamy on LinkedIn
- James Kandasamy on Facebook
- Multifamily Investors Group at Facebook
- Fannie Mae
- Freddie Mac
- Copy Your Way to Success
- Kahuna Investments
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes:
“You want to create a generation of wealth for ourselves, where we risk it ourselves, we do everything on our own, we use all our skills.” James Kandasamy
“Tell people that you're doing this, tell people the successes, and that’s how you raise your money in the beginning.” James Kandasamy
“When you got the money, you invest.” Corey Peterson
“Understand in property management, you don't make money. But it's not there to make money, it's there to control the product.” Corey Peterson
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.