Our guest today shares how he got into the gas station business then evolved to single-family and multifamily investing. He shares some tips on how to be successful in commercial real estate and how to find the right partners.
Key Points on How To Really Grow Rich In Life Through Commercial Real Estate
- Kay Kay moved to the United States in 2000 with his family and worked as a Microsoft Certified System engineer.
- After 9/11, he lost his job and got into the gas station business through a friend. He started to manage gas stations and worked in the industry until 2012.
- In a couple of years, he bought that gas station and acquired 8 gas stations in the following years.
- In 2014, he got introduced to single-family investing through a friend who offered him a portfolio. Kay Kay got very passionate about real estate investing and decided to buy 40 single-family houses.
- He still manages those 40 properties today, however, he is about to sell them this year. According to him, there is more money in single-family properties than multifamily, but there are also more headaches.
- After about 2 years into real estate investing, he got into multifamily as well. It had better tax benefits and was easier to scale.
- He is involved in 10 multifamily properties right now with his partners for a total of 2500 units.
- Kay Kay is the type of person who invests first and then learns. He read a lot of books, had mentors, and listened to podcasts, but he always got into the action first in his investing.
- His tip to find the right syndicator partner is to look at their track record. Check if they started recently or have been doing it for a while. Always do the research before a partnership.
- Kay Kay started coaching recently and he is interested in doing underwriting or sourcing deals.
- In the future, he is looking to build his team and do more multifamily deals on his own.
- Who is your success role model? Joe Fairless
- What is your biggest success? One of his gas stations that he bought for $50k in 2007 and it makes $150k every year.
- What does a typical day look like for you? Kay Kay has a written schedule of his day. He wakes up at 6 AM, prays, and starts working from home at around 8 AM. He likes to take a power nap in the afternoon, then goes to the gym and writes in his journal in the evening.
- What’s your favorite quote? ”Invest in yourself before you invest in any real estate.” – His own quote
- What are your hobbies? He is on the computer a lot, and he likes to learn new things.
- What is the best business book you’ve read? Joe Fairless’ books
- If there was one key piece of advice you could leave our listeners with about achieving success, what would it be? Hard work is the key to success. Always take action, otherwise, you are just wasting your knowledge.
About our Guest, Kay Kay Singh
Kay Kay Singh, CEO, Grow Rich Capital reveals how implementing the right Systems, Processes and Tools can help you avoid some common mistakes that inexperienced entrepreneurs make as they venture into the real estate investing business.
Facebook: Next Multifamily Investment Group