Apartment Syndication Made Easy
A Step by Step Guide
My Journey from $7 to $250 Million
Vinney (Smile) Chopra
U.S. Commercial Investing Champion
Copyright 2019 by Vinney Chopra
All rights reserved. No part of this publication may be reproduced, distributed or transmitted in any form or by any means, without prior written permission.
Step by Step Apartment Syndication / Vinney Chopra. -- 1st ed.
Dedication
I would like to dedicate this book to Kanchan, my wife,
and Neil and Monica, our two great children who have encouraged and motivated me all my life to excel in every endeavor I took on. Also to my Uncle Om, who gave me the opportunity to come to USA to pursue my dream and to my teachers, mentors, relatives, thousands of friends and my mastermind students who inspire me daily.
I have always believed and lived by this quote
I have always believed in an individuals
ability to shape the world around them through
positive thought and selfless actions
Vinney (Smile) Chopra
Table of Contents
Introduction to
Commercial Syndication
Got $7?
Then youve got an opportunity, but NOT in the way you might expect and NOT in the sense of being able to buy two gallons of gas or two lattes at the coffee shop or that slice of dessert after dinner. No, you have a REAL opportunity!
Relax! Theres NO sales pitch or product coming. I'm not after your $7. Instead, I'd like to share a story. A story of what's possible. A story of how far you can actually go starting out with just $7 in your pocket.
The story, by the way, is my own. Since we have yet to meet, allow me to introduce myself. My name is Vinney Smile Chopra . Im the author of this book and a real estate investor. You may not be able to tell, but I'm smiling right now! In fact, I'm perpetually smiling. Of course, Smile is not legally my middle name, but it is what those who meet me soon start to call me. Why the smile? Well, why not? After all, smiling is supposed to be good for your health. Beyond that, though, Im 'all smiles' because of how far I have come in the last forty years. Thats the story I want to share with you on the pages ahead.
Its the story of how I came to the United States, from India, in the 1970s, with just $7 in my pocket. Oh! Don't worry! It isn't a sad story. Lets just say I earned a few more dollars along the way, arriving at a point today where a bottle of Coke, though I do still enjoy drinking one, is no longer the luxury it once was.
Goodness! Has it really been that long? Pardon me while I reminisce. Forty years since I stood there. Fresh off the plane in New York City. Dehydrated by jet lag. Struggling as my body switched to NYCs climate - a drastic change from what I was accustomed to in India. And craving more than anything a bottle of Coke sitting in a glass case at a restaurant. It might as well have been a diamond on display at the museum. I could not afford it - not at the $2 it cost.
Oh yes, right! We're not sharing a sad story here! How things can change for the better! In my case, that change meant going from a $2 Coke being a luxury to acquiring over $200 million in multifamily real estate assets. That's right!
How? Multifamily real estate! Its what I do!
If that word multifamily doesnt ring a bell, it has to do with real estate relating to apartment buildings. Simply put, as a multifamily real estate investor, I invest in apartment buildings and enjoy helping others do the same.
More specifically, I lead groups of investors in what are called syndications . Though I'll share a more inclusive definition of syndication in a few pages, what it means is that I raise money from investors to acquire apartment properties, manage and add value to those properties, and then sell the properties later for a profit.
To date, I have led more than 26 syndications and amassed a portfolio of over 3,000 units (i.e. individual apartments). As I write, I am in the capital raising process of my largest offering to date (#27), and it stands to provide me with a HUGE RAISE. My biggest one returned $50 Million in Equity, a success about which I am excited and proud! With this raise, my investors and I will be able to add approximately $300 Million worth of more multifamily acquisitions. Well, as I am sending this book to be published, I have a great news that should reinforce your commitment to learning a lot in the chapters ahead where I will discuss so many tricks of the trade. You might ask, what is the good news? Well I just got the largest Mutifamily 324 units under Contract with my half partners (great syndicators also) worth $52 Million in a superb emerging market. Are you excited yet?
The success doesn't come overnight.
The story behind my success in real estate investment and syndication is interwoven with the stories of success for others, including families, colleagues, and my staff. I have always followed and give testament to the power of four incredible words: ENTHUSIASM; PASSION; PERSISTENCE; and POSITIVITY!
Let's talk about that last one. The positive attitude plays an important role in anyone's life. Negativity is viral, breeding negative energy here and there. If we are not cautious, those negative factors will penetrate our thoughts and minds. So, I believe we should really shield ourselves from this disease, refusing to let it contaminate our minds, our speech, and our attitudes. Instead, I promote being positive - keeping happiness in our thoughts, exuding joy in our smiles, and doing as much good as we can for the people around us. It is a simple approach, but by adopting it, we will do well. That has been my #1 goal in life.
Why do I mention this now? Two reasons.
First, it helps you in understanding who I am and what I do.
Secondly, and arguably more importantly, applying this principle of positivity is really what can make that $7 we were talking about earlier so much more powerful.
If you will really think about it, you have a lot going for you since you probably do have at least $7 in your pocket. So maybe it is not literally in your pocket at this precise moment (since hardly anyone carries cash these days), but chances are you do have at least $7 in your bank account or somewhere.
For others, depending on your profession, you may have substantially more than $7 right now. Maybe you are in the medical, legal, or financial profession, or perhaps you are enjoying success in another line of work. Maybe you are what they call a high net worth individual. Maybe you have enough money to buy your own Coke machine rather than just a single bottle. Or maybe you own stock in Coca-Cola. So, $7 does not seem that much to you.
Regardless, $7 (and I keep saying this) IS MORE THAN ENOUGH!
Enough to?
Great question! I realize I havent been clear on that.
By enough I mean enough money to become financially independent. Where you are able to live comfortably at the level you desire, funding your lifestyle with a recurring cash flow, you are a financially independent person. Financial independence also means you have enough wealth on which to live without working. Financially independent people have assets that generate income (cash flow) that is at least equal to their expenses.
How do you create such a cash flow?
In the same way I have, with multifamily real estate. So, you, too, will be buying small and large apartment buildings, managing and adding value to those buildings, and then, potentially, selling them for a substantial profit.
Think youre up to the task?
Feel free to say "No." In fact, at this point, I would not blame you if you did because there is this ONE BIG thing we haven't talked about - the proverbial ELEPHANT in the room. And where buying apartment buildings is concerned, this ELEPHANT is HUGE! The elephant is, of course, MONEY! Or, rather, a lack of it.
