056. Running the Real Estate Race with Tony Castronovo

Oct 19, 2021

Title: Running the Real Estate Race with Tony Castronovo

 

Tony Castronovo is the Founder and Managing Partner of Novo Multifamily Group, and Novo Investments, real estate investment companies established in 2019 and 2014, respectively.

Mr. Castronovo is a buy & hold investor and syndicator with 7 years focused real estate experience in both multifamily and single-family, including acquisition, construction, operations, and property management.

 

Mr. Castronovo currently owns and operates 80 units, split between two multifamily properties in Bryan / College Station, Texas (home to Texas A&M University). Each of these properties were major repositioning projects with significant value-add driven by strategic capital improvements and tenant lease-up strategies.

 

Let’s tune in to his story!

 

[00:01 - 06:55] Opening Segment

• Get to know my guest, Tony Castronovo
• Tony started getting active in Single Family investing during 2014
• Scaling to Multifamily in 2018
• Tony wanted to increase his retirement income
• • But this is not his WHY
• Directly seeing the results of what he does

 

[06:56 - 25:50] On Marathon and Investments

• Tony ran 24 Marathons before; he’s preparing with his 25th
• The team concept he learned 20 years ago
• • You don’t have to do it alone. Don’t be afraid to connect.
  • Have formal training - model after others!
• Everybody runs their own race - You’re competing with yourself
• Bad patches - you need a cheering section!
• • Talk about it. Be aligned with the people who support you.
• “Can we invest?” - Tonny’s twin sons
• • The compelling reason why they asked
• There are Start lines and Finish lines in Real Estate, too.

 

[25:52 - 28:07] The Transition in the Community

• Turning an unhealthy neighborhood into a healthy one
• Paper Approach and Reality Approach
• They should care for their home and community
• • A home ought to be a dignified place

 

[28:08 - 31:44] Closing Segment

• Tony’s advice to his sons to save up
• Final words
• Connect with my guest, Tony, in the links below

Tweetable Quotes

 

“I just wanted more control. I wanted the ability to decide on my own terms how I spend my day and I wanted something to be able to build and grow on my own and not necessarily trading time for money.” - Tony Castronovo

 

“It’s not about retiring and living on a beach somewhere, and not working, it is about deciding how to spend my day and really see the direct result of all the efforts that I put into my daily work.” - Tony Castronovo

 

“Bad patches are parts of the race where I just have a low spot. In Real Estate, you’re going to have those low spots, too.” - Tony Castronovo

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You can connect with him through his LinkedIn and Bigger Pockets account

Visit his websites: http://novomultifamilygroup.com/ and email him through: [e-mail]

WANT TO LEARN MORE?

 

Connect with me through LinkedIn

 

Or send me an email [e-mail] 

 

Visit my website www.luxe-cap.com or my Youtube channel

Thanks for tuning in!  

 

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