John Casmon

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

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!

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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