As an immigrant from India, Kay Kay Singh believes deeply in a sense of community and taking action to achieve your dreams. He has partnered with many in his community to partner and build multiple businesses. From running gas stations, convenience stores, a laundromat, and 40 SFRs, he turned his attention to multifamily for the tax benefits. Kay Kay is now a limited or general partner in 2,764 units. In this episode, he shares why community is vital to his success, how he vets potential partners, and what you need to know before investing in a syndication.
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Key Insights
- After 9/11, he lost his job and became a partner on a gas station
- Another investor in his community wanted to sell him his 40 single-family homes
- Bought the 40 single-family homes with no inspection, no financials, and no attorney from an 82-year-old owner
- Automated processes with online payments, online maintenance submissions, lockboxes, etc.
- With SFRs, gas stations and laundromat, Kay Kay was paying more in taxes
- After research, realized multifamily investing would allow him to reduce his taxes
- Met with an operator for 15 minutes before deciding to invest with him
- After investing in multiple deals as a passive investor, became a general partner focusing on investor relations and asset management
- Created a list of operators from Rod Khleif’s mastermind and researching on BiggerPockets
- First thing is to look at the syndicator, how many deals they’ve done, how knowledgeable, how honest they are
- Search markets by rent growth, job growth, population growth and low crime (or crime reducing)
- Unless you take action, knowledge means nothing
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Bull’s Eye Tips:
Resources:
10X Multifamily Facebook Group
Most Recommended Book:
Think and Grow Rich by Napoleon Hill
Rich Dad, Poor Dad by Robert Kiyosaki
Most Recommended Digital/Mobile Resource:
EverNote
Social Media
MyHabit
Daily Habit:
Daily Prayers and Yoga
Advice for Smart, Driven College Students:
Invest in Yourself before you invest in real estate
Advice to Ignore:
Negative People
Current Curiosity:
Economic cycle
Best Place to Grab a Bite in Fort Wayne:
Local Thai Restaurant (other than Indian food at home)
Connect with Kay Kay:
Website: growrichcapital.com
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