Click here for Episode 125: Building a $200 Million Rental Portfolio with Vinney Chopra >
Building a $200 Million Rental Portfolio With Vinney Chopra
About Vinney Chopra
Vinney Chopra came to the United States to get his MBA to further his engineering career. While he was here, he found his dream job and then discovered real estate. Over the last decade, Vinney has purchased 26 apartment complexes worth over $200 million. He did not buy these properties on his own but instead used syndications to buy them with other investors’ money. I have interviewed a number of apartment syndicators, but one thing I liked about Vinney is he has bought 12 apartments in the last two years, showing you can still make money in a hot market. You can hear how Vinney made it to the United States, found success, and get his tips all on this week’s episode of The InvestFourMore Real Estate Podcast.
How did Vinney end up moving to the United States?
Vinney was a mechanical engineer in New Dehli, India, when he decided he should get an MBA to further his career. He worked very hard to get accepted into George Washington University but could not get a VISA to get into the country! Eventually, he was able to get his VISA, and he made it to the United States. While here, Vinney began a sales career to make ends meet and discovered his love for marketing. He quit his career as an engineer and started working for a motivational-speaking company.
How did Vinney get into real estate?
Vinney worked with the same company for 37 years. At one point, his company moved him to San Francisco to open up a new branch. When he was in San Francisco, Vinney learned most of his friends invested in real estate. He started learning about the business, and he bought his first investment property in the Bay Area for $99,900. Vinney went on to buy a number of single-family rentals in California, Georgia, Texas, and Arizona. Eventually, Vinney got his real estate broker’s license and found the world of multifamily investing.
How hard is it to get your real estate license?
Why did Vinney love the idea of investing in multifamily properties?
Vinney loved the idea of multifamily investing because he could scale his business much faster than he could with single-family properties. He learned as much as he could from other investors who had been successfully buying and selling larger apartment complexes. Vinney first started looking at multifamily properties in 2004 and bought his first property in 2008. He actually bought two properties in Odessa, Texas: a 14-unit and 109-unit apartment complex. He was able to get a loan in his name for the 14-unit property and used seller financing to buy the 109-unit building. Vinney bought the larger complex for $2.4 million and ended up selling it a few years later for $5 million. That gave him a very nice payday, and his investors earned a 43% return!
Multifamily versus single-family investing
What is apartment complex syndication?
Vinney has been able to buy over $200 million in apartment complexes over the last decade because he uses a syndication. A syndication is where one person or group controls the investment, but they have multiple silent partners who invest in the property. Vinney will put some of his own money into the deal and may use his credit to secure a loan, but most of the down payment and repair money comes from other investors. Vinney will then guarantee a certain return for those investors, and if the project does really well, they would get bonuses as well. On the podcast, Vinny talks about how he has used this strategy to purchase 12 apartment complexes over the last two years. This surprised me, as many other apartment syndicators have had a hard time finding good deals in the current market. Vinney even tells us exactly where he is buying his complexes (a couple of which were flooded in a recent hurricane). He also goes into detail on how he sources these deals. Make sure you listen to the podcast to hear all the details.
How to get a great deal on an investment property
How can you learn more from Vinney?
If you want to contact Vinney, he actually gives out his number on the podcast! He asked that people text him and not call him, but he is still brave. You can also email Vinney at Vinney@monielig.com or visit his website at www.vinneychopra.com.
Link exchange is nothing else but it is just placing the other person’s
blog link on your page at suitable place and other person will
also do same for you.
I absolutely love your blog and find the majority of your post’s to be exactly what I’m looking for.
Does one offer guest writers to write content in your case?
I wouldn’t mind composing a post or elaborating on some of
the subjects you write in relation to here. Again, awesome website!
I really like your blog.. very nice colors & theme. Did you make this website
yourself or did you hire someone to do it for
you? Plz respond as I’m looking to construct my own blog and would like to find out where u got this from.
kudos
Write more, thats all I have to say. Literally, it seems as though you relied
on the video to make your point. You definitely know what youre talking about,
why waste your intelligence on just posting videos to your weblog when you could be giving
us something informative to read?
I’m amazed, I must say. Seldom do I come across a blog that’s
both equally educative and amusing, and without a doubt, you’ve hit the nail on the head.
The problem is something not enough folks are
speaking intelligently about. I’m very happy that I stumbled across this during my search for something
concerning this.
I read this post fully regarding the comparison of latest and earlier technologies, it’s amazing
article.
Howdy, i read your blog occasionally and i own a similar one and i was just wondering if you
get a lot of spam responses? If so how do you prevent it, any plugin or anything you can advise?
I get so much lately it’s driving me mad so any help is very much appreciated.
Please let me know if you’re looking for a author for your site.
You have some really good posts and I think I would be a good asset.
If you ever want to take some of the load off, I’d really like to write some articles for your blog in exchange for a link
back to mine. Please shoot me an e-mail if interested.
Thank you!
This blog was… how do you say it? Relevant!! Finally I’ve found something
that helped me. Many thanks!
Hi, i think that i saw you visited my web site so i came to
“return the favor”.I’m attempting to find things to improve my web site!I suppose its ok to
use a few of your ideas!!
I was curious if you ever considered changing the structure of
your blog? Its very well written; I love what youve got to say.
But maybe you could a little more in the way of content so people could
connect with it better. Youve got an awful lot of
text for only having 1 or two images. Maybe you could space it out better?
We’re a gaggle of volunteers and starting a new scheme in our community.
Your web site provided us with helpful info to work on. You’ve
done an impressive process and our whole neighborhood will probably be grateful to you.
We are a group of volunteers and opening a new scheme in our community.
Your web site provided us with valuable info to work on. You have
done an impressive job and our whole community will be grateful to you.
Appreciation to my father who shared with me concerning this web site, this website is
genuinely amazing.