How to begin investing in real estate with no money

Welcome back to the channel. If this is your first time, I want to personally thank you for tuning in. Today we’re going to be talking about how to get started in real estate investing with no money. Now look, I know that’s a situation a lot of us find ourselves in. That’s how I got started. I didn’t spend any money to get deals, but I actually have a special treat. I met a guy named Vinny. He owns over a billion dollars in real estate, which is absolutely nuts. And he said he got started with barely any money. He said he got started with $7 so I want to introduce you to Vinny and show you how he got started in real estate investing and where he’s at right now. I think you can learn a lot from because I learned a lot from Vinny when I had him on my podcast. So let’s dive right in. Let’s take the best things we can learn from Vinny, and let’s see what we can learn together.

You music before we dive in to see how Vinnie got started in real estate and how you can get started with little to no money. Let me invite you to my painless masterclass. It’s called painless that’s where you register, and I’ll show you exactly how to get started in real estate in Lesson format in a masterclass webinar, whatever you want to call it, I’m inviting you. It’s free. Check it out. Just go register and check out this video too. Vinnie, you’ve been a you’ve been crushing it. I didn’t you say that you started your real estate journey with $7 is that what you’re saying?

Yes, I came to this country with $7 I’m a mechanical engineer. Brother and I need to do mechanical engineer, big bachelor’s. Then I did my MBA in Washington, DC, at George Washington University. And I came into this country with $7 I sold Bible books and encyclopedias door to door, to earn money for my tuition. Bought my first car at $700 blue Maverick two door. You know, this whole journey started with that $7 then a few $100 more. But I used to spend, I think, rent, you know, in when I was doing this motivational speaking, I’ll send every money, every penny, back to India, you know, to my parents and just keep $50 to eat.

Wow, wow. That’s amazing. Just something that blew my mind yesterday. You You told me that you own over a billion dollars in real estate right now, yes, brother, yes. You know, we’ve been doing, you know, investing in real estate. I’ve been married 43 years. We live near San Francisco in Danville, Black Country Club now, with the grace of God and with lot of portfolio, you know, you make lot of millions, also amazing. So, yeah, they were to, you know, live in the country club, and we were living 27 years, just outside the fence. 127 years, we still own that home. But I always was thinking, you know, God, if we, you know, we get bigger and better. Maybe I’ll move into the country club. But let’s make long story short, yeah, we started selling real estate. I’m not selling, but buying all over the USA, single family homes. But then the light bulb just came on in 2000 I think 2000 you know, that’s 23 years back, right? But 2004 I became a broker. You know, my wife said she was a realtor. She says, Vinnie, you know so much about everything, why don’t you just take the exam? I just learned it in three months, the whole broker courses and everything, and aced it. I became a I’m still a broker, but I don’t sell or buy a thing at all. But then I wanted to scale up. I said, you know, how can I go from $150,000 home or 200,000 home? You know, some cash flows come in, some equity comes in, but to really scale up, you need to be in commercial. So that’s what changed my life.

When I said, Okay, I’m going to buy, you know, I looked at storage units, I looked at office buildings, I looked at, you know, shopping centers. But multi family caught my attention. Multi it’s just like it’s more than one unit. So if it’s a duplex, or four Plex, or 10 Plex, you can just have 10 dwellings for 10 families, right there, in that place space, and you collect rent better. You can have a part time manager who can be also, you know, taking care of your, you know, service calls and all that stuff. That’s what got me started in a duplex. We still own that duplex. What $2,800 we make. We paid off the mortgage. We make every month. $2,800 even though we have over billion dollar in portfolio, we kept that then 14 units for 180,000 was my my team and my start. That’s what we did back about 2008 let’s say eight around there. That’s about 1415, years back, right? 15 years back. So what I found was brother that I can go from 180,000 I needed to buy a property two point. 4 million. It was 109 units in the same town, Odessa, Texas.

I don’t mind sharing everybody. And 109 units, 101 storage units and a commercial building. Back then, 2000 things were cheaper, and the crash was coming, and all that stuff. I didn’t know anything about market cycle, 00, knowledge, brother, we just kept the you know, eyes on the price, right? I call it that way. I hired a really good coach, and we’ll pay him. I think we used to pay him $500 or $400 every week, literally, because he had done that, what we wanted to do. So that got me going, and my partner, also, I don’t want to take all the credit, you know, and then we’ll meet every week, like on Wednesday evenings, and he’ll hold us accountable, and he will tell us and give us assignments. And we were doing w2 job, but we had to meet and prepare all these notes to make sure we do a best presentation for him, tell us whether to buy or not, how to go about financing all that stuff. So a coach is a very good thing. You know, somebody who’s done it, who’s doing it and all that 2008 brother, nobody wants to give me loan. Or my partner, we’re living in California, San Jose. She lived there.

I lived in oak. I mean, at that time I lived in, oh, in our home, right here, Danville, California, anyway. So, you know, the seller said, No way. I’m not going to take 20% down and give you loan. Promissory note seller, financing, he said, I said, How about 30% down? No, 40% down. Literally, he need to give us loan at $1 million down. Wow. Point 4 million property 1 million down so we don’t have that kind of money. Brother because, to be very truthful, everybody listening to me and watching it’s three things you gotta really take care of to scale up. One is mindset. You got to really say, You know what, I am better than that person who is doing this and what’s special in that person? Yeah, so education. It’s only mentoring. Somebody mentored them because somebody mentored me. Brother, you know, I wouldn’t be at a billion dollar and now to my next billion and next billion. I mean, I’m just, it’s crazy, crazy. This August, I’ll be 71 I have so much passion. I don’t need to work a day in my life.

I have millions of dollars. I’m in my, you know, all my children, everybody, you know, we have two children, Neil and Monica. Monica is connected to our business. Neil retired what Berkeley and, you know, did computer science, electrical engineering. He’s been more brainy than dad, and Monica is more brainy than me and my wife, but he retired last year. What I mean? At 37 he retired, he said, Dad, I don’t need to make a dime. I said, Son, I love you. But I said, you know, do something, you know, and yeah, discipline and all that, which is good, but I believe in discipline. Haha, mindset, discipline. Those two things are so important. Brother, so important. So if you make a you know decision that you want to buy a fourplex, let’s talk about that, right? I would say to the audience, look at a fourplex. If you have not looked at it or triplex or duplex in your zip code, just look for near the area you’re living in now. You don’t want to go too far in a couple of hours drive. I say, you know, in my academy, I teach also, by the way, now I have my own academy. I teach everything that I’ve learned over 15 years. I put it into video lectures, and, you know, all these, you know, Excel worksheets and PPT, PowerPoints and PDFs. So I teach everybody, you know what I’m doing. And yes, you need, yeah, you need to, when you, when you get worth a billion, you got to definitely be able to teach people what, what, you know, I want more billionaires, really.

I do. I do my my core heart is that, you know, I want so many people to learn. It’s so simple what I’m doing. It’s so very simple. There is so much money flowing all around you, brother. I mean, if I ask you, you know, in your relatives, in your close circle, I say circle number one, your associates. Circle number two, where you do businesses with so many people, you know, maybe another one would be your, you know, partners and all that there is trillions of dollars. Haha, I didn’t say billions, trillions of dollar is stuck in the Wall Street for them. In return. Retirement funds, in cash, in equities, and that’s what I do. I’m able to raise 10 million in a day. What those are? 10 million in a day? In a day, a lot of money. That’s a lot. I have 530 investors. But I started with one. I just met him over the weekend, and I did a seminar at the Ritz Carlton over here in San Francisco, raised 12 million, 750, and my very first investor came, I mean, 14 years back, he believed in me. That’s amazing. I had zero money, I had zero experience, and he believed in me, and he put that, you know, the $2.4 million deal, right? I bought and he put and I sold it for 5 million. Doubled it in three to four years. I gave my investors 70% of the cash flow and the returns, equity gain.

That’s very good for him. 43% per year returns, brother, 43 that’s amazing for him. He definitely loved you, I bet after that, oh no, he kept on putting 200 300 almost every deal I’ve done 39 funds and syndications means I have bought 39 properties, multifamily, anywhere from 140,000 which is a 14 units to 2.4 million to 6 million, 10 million, 15 million, 20,000,030 5 million. I just bought a deal in Austin, Texas with my partners in covid. What in covid? 2020 I knew people in my backyard were moving to Austin. See, I live near Silicon Valley. So all these Silicon Valley. People said you could work from home, and people just started moving out of California. I said, let me look at the studies. Where are they going? They were going to Florida, Melbourne and to Austin, Texas. That’s correct, Atlanta and Atlanta. So what does Vini do? I just texted all my brokers in Austin, Texas, and texted, I do copy paste, brother, I’m a very simple guy. Very simple guy. I say, you know, hey, Vinnie is back again in Austin.

I’m looking for 300 units. You know, I’m back with more money. And lo behold, one person, Michael calls me back. He says, I know you, nine years back, you bought Country Club from me, and you were the easiest buyer ever. That’s what he said. Michael said, I said, Brother, tell the seller Vinnie’s Back with more millions now for 4.3 million, I think, or something, 132 units. 132 units I bought. Brother in Seguin, Texas, right outside Austin, sold it 6.5 million already, you know, and all that I said, Brother, just tell them they were 15 buyers, one, five. This property was so good that people wanted to buy it. Yes, here, Vinnie is coming back after nine years into Austin, Texas. But I had my foothold 26 properties. I think I bought in Texas by itself, and then I bought in Georgia, Atlanta, Georgia and around there, and I bought in Florida, right? So I foothold in three states, right? So I’ll come back. And they said, Yes, Vin, you won the D. I said, what best and final I gave 500,000 on signing the contract, non refundable, and my partner paid 500 it’s a big game, brother, for 34,000,030 5 million. So
they chose you because you made, did you make the best offer? Did you make? What? What made you stand out for from the other offers?

You’re right, totally. It was out of 16 you put, I mean, it’s a crunching, number crunching. It’s like, you know, you have to put your best foot forward with approval of the Freddie Matt loan, the letters that we are qualifying for, $26 million loan, whatever it was, right with my partners and I, and then we said, Okay, this is our business plan, and this is where we’re going to take the property. This is our offer. 34,000,007 50 is what we paid. By the way, it was 32 million. By the way it started. From there we went up and up and up and up. Then we threw in 1 million. Kicker, non refundable. That seal maker. That was the deal maker.

That’s the deal maker right there. You know, I mean, we knew that we have the financing and we know we can raise the money, brother. I mean, that’s what we are. So we raised $16 million in about maybe took me month or so to do the PPM and all that stuff, and we closed that deal in 54 days.

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