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From $7 and a Smile to $200 Million with Vinney Chopra, Episode 18

October 31, 2017

 

Vinney Chopra came to the US from India with $7 in his pocket, and now he can raise $10 million in a day or two. Known for his friendly and engaging personality, Vinney has earned the affectionate nickname of Mr. Smiles. As a multifamily sponsor he has facilitated over 26 successful syndication deals and manages a successful real estate investment portfolio worth over $200 million. On this episode of Target Market Insights, he shares his thoughts on which markets are emerging and how to identify them. Listen Now!

 

 

​Subscribe on iTunes, Stitcher, and Google Play.

 

Key Market Insights

  • Started in multifamily in 2006, did not know the meaning of LOI, NOI, IRR or Cap Rate

  • 24 of his 26 syndications are in Texas, with the other two being in Georgia

  • First deal was 14 units, later that week they bought 109 units

  • At the time, Midland-Odessa, TX had the lowest unemployment rate, flew there and met with brokers

  • Mentored by Dave Lindahl, author of Emerging Markets

  • Emerging Markets: Utah, Dallas, Sacramento, Columbus, San Diego, Portland, Reno, Atlanta, Houston, San Antonio

  • Have the business plan & pitch ready for brokers and investors

  • Looks for cash flow day one

  • 12 syndications in the last two years

  • Can raise $6-10 million in 1-2 days, investor base of 128 investors

  • Selecting the right target market is the key to deliver investor returns

  • Figured out how to have the syndication break up into TICs for reinvestment

  • Creating a $50 million, 506(c) fund for investors

  • What to look for when seeking an emerging market: job growth, population growth, path of progress, where are new businesses, how many units are coming on the market, what are major attractions and retailers?

  • To find topline info on a market, look at an offering memorandum and send info/articles to your investors


Bull’s Eye Tips:

Winning Your Market: Focus
 

Market Changes: IRR Reports, Chamber of Commerce, market reports, talk to the mayor (mayor’s office)


Daily Habit:  Meditate in the morning and pay gratitude

 

Resources:

How to Determine Emerging Markets eBook by Vinney Chopra


Best Business Books:

Emerging Real Estate Markets by Dave Lindahl 

 

Rich Dad, Poor Dad, New Edition by Robert Kiyosaki

 

Law of Attraction by Michael Losier 

 

The Secret by Rhonda Byrne  

 

Digital Resources

YouTube, Google, Podcasts

 

Tweet This:

“Focus is similar to a magnifying glass” 

 

“If you are unfocused, you can not give your full energy”

 

 “Ask brokers to call owners they sold properties to 6 years ago and tell them you want to buy”

 

Places to Grab a Bite:

Texas Roadhouse Steak - https://www.texasroadhouse.com/

 

Connect with Vinney:

Website:  www.vinneychopra.com

Phone: 925-766-3518

 

Leave us a review and rating on iTunes or Stitcher. Be sure to check out more info at TargetMarketInsights.com.

 

 

 

 

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