Multifamily & Senior Living with Vinney Chopra
We sat down with the Senior living multifamily giant Vinney “Smile” Chopra, He gives us insight to how he operates his business ventures and gives tips and strategies you could use to close deals. Breaking it all down in easy to learn steps, these guidelines range from your approach, what kind of partner you should have in your corner, prospecting a location plus so much more. It was an honor to sit down and learn new insights about senior multifamily investigation. A little bit about our guest, Vinney Chopra AKA Vinney “Smile” Chopra, originally a mechanical engineer, came to the US from India with humble beginnings. However over the past 12 years he has done 28 successful syndications, 14 of those being in the past 3 years! He has achieved enormous success controlling over $330 million, 4,100 doors. He and his 67 professional full-time team members manage all assets from acquisition to disposal. Vinney is also a best selling author with his book ”Apartment Syndication Made Easy” and has a new book coming out soon called “Positivity Brings Profitability”. “You have to live in the moment” – Vinney Chopra This one on one sit down was packed with great perspective and knowledge in the multifamily field and real estate as a whole. Here are a few tips Vinney gives us in this episode
- Goal setting is important – Mindset is important, take stock, in what you’ve done today, live in the present, in the now.
- Get in the right financial vehicle – the right job and the right place to spend your time in order to find a comfortable lifestyle. Vinney and so many others have picked real estate as it provides a scalable & sustainable vehicle that continues to prove recession resistant and essential.
- Taking notes is important – you’re constantly learning in this field and it’s extremely important to constantly keep writing. Regardless of where you’re taking them (phone, paper, ipad, etc) Even if you think you’re going to remember it, that information will be gone a couple years from now. It’s important and impactful to have the notes on hand years from now especially with brokers, things like these can make important impacts on relationships
- Making the right connections – Find a good partner for your business (experience, outside knowledge)
- Gathering data – Demographic research, Climate, what facilities are local.
- 08:20 – How to set goals
- 13:00 – Vinney tells the start of his real estate journey
- 17:00 – The many ways to senior assisted living
- 24:59 – Dylan asks “how do you manage your properties”
- 31:40 – Word of advice for starting out
- 38:00 – Day to day reporting practices
- 35:20 – How to mitigate risk
- 40:00 – Having access to different property material
- 46:50 – Closing thoughts from Vinney