In this episode of the Alchemist Nation Real Estate Podcast, I talk to Raj Tekchandani where I wanted to know how he got into real estate in the first place. He says that he got into real estate investing by accident because he comes from a tech background and he wanted to build the next Facebook or something like that where he started a bunch of startups some of which were good and some weren’t good. He recalls that in 2012 a friend of his asked him if he could invest in a condo and he was like no because he had a full-time job, working hard and making the money which he eventually did. He showed him the pictures and the prices around Orlando and he was amazed and the market was down by then and he bought his first condo in Orlando Florida for $34K and that was his accidental entry into the real estate industry from where he has bought a couple of condos. He now owns 9 condos in Orlando and he has seen the appreciation go up and the cashflow is coming. Once he saw the cashflow come in, he was like this is great and why was he struggling with tech startups working so many hours, who knows that if the company would have gone public or not, exit or not.
To listen to Raj Tekchandani’s Alchemist Nation Real Estate Podcast on Anchor: #91 Alchemist Nation Real Estate Podcast – How To Add Value With Raj Tekchandani
Raj talks about that moment when he transitioned from doing condos to a 15 unit building which is one shot and a big deal. He says that while he was doing single families, he was very fortunate to have a property manager in Orlando but he still had work to do in terms of 9 bills to pay, 9 taxes, 9 books to manage. When he started to read about multifamily where he saw great economies of scale, easier to manage, have one property manager, and if a tenant leaves, it is fine because they still have 90% occupancy.
What is funny is that Raj is already successful, already buying rental properties, doing a lot of stuff, reading, and learning, so I had to ask him what this really meant to him. He says that you can never stop learning, the day you stop learning is the day you’re dead but you have to be learning because there is so much to learn. That’s also some sort of enjoyment, getting into a space that is uncomfortable though you’re trying to get there and all the books that talk about waking up at 4 am in the morning excite him which part of the learning process.
Originally Raj grew up in India and he was more focused on his career, so I ask him about his decision of moving to the US and what was America at the time of making that decision. He says that he was one of the guys that said that he would stay in India but all his friends came to the US to do their Masters’s degrees and he realized the opportunities at that time were way higher or superior in the US. So he came to the US not to study but for a consulting gig which was to run for 6 months. He saw so many opportunities and so much freedom to do anything you want to do, just putting your heart into it. Hard work pays more in the US than anywhere else because you have those opportunities available to you and the rest is history.
I further ask Raj what business and projects is he doing right now. He says that his full-time job is multi-family syndication where he moved away from the 15 units and now is doing large syndications, a lot of learning and education there, a lot of meetups, a lot of webinars. It is not that he wants to sell more but to educate more people, tells them about what he does and that’s how he grew up his investor base by sharing what he has learned over the years in real estate. When he started looking into multifamily syndication in the Boston area, he wanted to meet people and he went to meetup groups that were purely dedicated to wholesaling, flipping, and all sort of things. He said to himself that wasn’t him because he was focused on multifamily syndication. So he started a meetup group called Apartment multifamily syndication and Darina knows about it which just grew from 5 people to 800 people in two years.
Raj offers 3 pieces of advice to 20-year-old Raj on how to see the world with more clarity and getting to invest sooner.
1) – Invest in yourself.
2) – Take Action.
3) – Always keeping trying to add value.
To learn more check out the blog and podcasts at http://www.GualterAmarelo.com
To register for our Saturday live webinar to start your wealth journey, visit: http://www.gualteramarelo.com/Live
To get in touch with Raj, email firstname.lastname@example.org/
Become Better in Real Estate by Getting Our Latest Podcasts in Your Inbox.