Creative Capital Podcast 34: From Technology Buff to Over 1,200 Units With Prashant Kumar
Creative Capital
Josh Ferrari
4.9 • 62 Ratings
🗓️ 15 January 2021
⏱️ 61 minutes
🧾️ Download transcript
Summary
A unique and phenomenal story of financial wealth is shared to us today by none other than Prashant Kumar!
He is the Founder and Managing Partner of My Realty Gains. He has a strong technology and management background for the past 25 years. However, as he got closer to retirement, he realized that he wasn't making enough passive income while working full time in the tech industry. So, he got himself engaged into multifamily investing over the last 5 years and has already scaled his portfolio to over 1,200 units!
With so many goals in mind, he expanded his horizon from syndication into assisted living over the past 2 years. It's no wonder Prashant has gotten so far in life due to his whole perspective on business and life revolving around giving and making life better for others.
Listen to this entire story in this episode to gain a few golden nuggets from Prashant's life journey to financial freedom!
We discuss topics like:
- What sparked Prashant's interest in real estate?
- How Prashant transferred from Technology professional to real estate syndicator with such ease.
- Did he have a mentor going into this new transition of business or has he always just been a mentor to others?
- Learning the strategies when buying assets such as value add, stabilization, better management, etc.
- How did Prashant buy the deals that he didn't syndicate?
- Learning some strategies in raising a significant amount of money and doing large deals.
- Does Prashant's Avatar play a vital part in his rapid growth? How did he decide what that Avatar was going to be?
- Understanding Assisted Living versus Multifamily and learning the differences.
- Actionable tips or strategies we should implement to get to where Prashant is in his journey today.
- Future plans of "My Realty Gains" for 2021.
Pod Decks Segment.
"Core Four" Segment.
- Favorite Real Estate Related Book.
- Unique skill that helped you become successful.
- Tell me something that's true about real estate that almost nobody agrees with you on.
- One piece of advice you would give to our listeners wanting to succeed in real estate investing.
Resources:
- https://www.facebook.com/prashant.myrealtygains/
- https://www.linkedin.com/in/prashant-at-myrealtygains/
- www.multifamilyrealtygains.com
- www.myrealtygains.com
- Email address: prashant@myrealtygains.com
- Phone number: 631-428-6479
For more information about Ferrari Capital visit us on our website @ https://www.ferraricapital.com
If interested in doing any deals with us and want to keep updated on any upcoming new deals, just sign up at the link below and you'll be in our investor list: https://www.ferraricapital.com/partnership
To grab a copy of our free Ebook: "The Ultimate Guide to Investing in Multifamily Syndications", just provide us your email on our homepage and will send that right over to you.
Transcript
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| 0:00.0 | You're listening to the Creative Capital Podcast. You're dying to learn about how you can create |
| 0:09.5 | wealth through real estate investing, then you can come to the right place. |
| 0:13.0 | Join in every week as we go over the ends and outs of real estate investing |
| 0:18.0 | and learn how you two can become financially free. |
| 0:21.0 | Your mindset kind of just opens up. |
| 0:25.0 | If you have done something bigger, you don't like to do smaller things anymore. |
| 0:28.6 | Because the amount of time is almost the same. |
| 0:31.0 | Whether you do a $5 million deal or a a $15 million deal as long as you can pull it together, and we did it. |
| 0:37.1 | What's going on everybody? This is Josh Ferrari, host of the Creative Capital Podcast. And on today's show we have Prashant Kumar. I believe it's |
| 0:48.1 | Kumar. It might be Kumar. I don't know. But he is absolutely fantastic. |
| 0:54.8 | He has such a giving heart, a giving mindset, |
| 0:58.8 | his whole perspective on business and life all revolves around giving, around the idea of making life better for others, |
| 1:10.0 | even if it comes at a cost to him. He's just a phenomenal guy and he started in the |
| 1:16.1 | technology industry, is actually still in the technology industry, and he's already |
| 1:21.2 | grown his portfolio over the last three to four years over 1,200 units. You know, he scaled pretty rapidly, pretty quickly, and another cool thing about him is that the first two |
| 1:33.7 | deals the first two multi-family deals that he bought I think the first one was like |
| 1:36.7 | 24 units and the other one was 70-something he paid for by himself he used a bank so he had some leverage he wasn't paying for it all out in cash but he had enough for these large hefty down |
| 1:50.0 | payments cap-ex closing costs he had all of that. That he was able to pay down himself from his technology businesses |
| 1:59.0 | and then was able to use that to continue to scale, continue to have that professional, I guess Aurora you would call it, I don't even |
| 2:06.0 | know what you would call it, but just having people see him as a professional, being able to |
| 2:11.0 | enter into the space, and the reason he even switched over into multifamily investing in the first place |
| 2:18.0 | was because he was working, you know, still is working full time in the technology industry doing his businesses there. |
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