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3 episodes with kay kay singh
2 episodes with kay kay singh
2 episodes with kay kay singh
Are you ready to discover the secret formula to success in multifamily syndication? Join us as we sit down with Kay Kay Singh, a successful entrepreneur and multifamily syndication expert, and uncover his top tips and strategies for achieving success in this competitive industry. Don't miss out on this insightful and inspiring conversation! EPISODE HIGHLIGHTS: How Kay Kay Achieved Success in Various Business Ventures The Keys to Successful Multifamily Syndication How Entrepreneurs Can Effectively Network to Grow Their Businesses How Real Estate Companies Can Prepare for a Recession The Secret Formula for Entrepreneurial Success Krishan "Kay Kay" Singh is a successful entrepreneur and multi-business owner with over 20 years of business experience in various fields in the USA. He started his career as a Microsoft Certified System Engineer before venturing into entrepreneurship. He is the founder and CEO of Grow Rich Capital, which invests in multifamily syndicated deals across the US and owns several gas stations, convenience stores, laundromats, banquet halls, and residential properties in Northeast Indiana. In addition to his US-based businesses, he also owns various agricultural, commercial, and residential properties in India. He is always looking for new investment opportunities and networking with like-minded entrepreneurs to expand his business portfolio. Connect with Kay Kay Instagram Facebook Website Did you enjoy today's episode? Please click here to leave a review for The We Build Great Apartment Communities. Be sure to subscribe on your favorite podcast app to get notified when a new episode comes out! Do you know someone who might enjoy this episode? Share this episode to inspire and empower! Connect with John Brackett and We Build Great Apartment Communities Instagram @webuildgreatcommunities Facebook @buildingreatcommunities LinkedIn @brackettjohn Website www.fidelitybps.com Subscribe to The We Build Great Apartment Communities Apple Podcasts Spotify Do you think you would be a great fit for the show? Apply to be a guest by clicking here. Fidelity Business Partners, Inc. 6965 El Camino Real Suite 105-190 Carlsbad, CA 92009 D: 760-301-5311 F: 760-987-6065
Join host Jonathan Hayek with guest Kay Kay Singh, who invests in high cash flow assets like gas stations and laundromats. Enjoy hearing about:- How the gas station business really works- Why laundromats are such an attractive asset class- How to leverage technology to make managing laundromats easier- Plus tons more!Grow Rich CapitalIf you are a commercial real estate investor or you're simply curious and want to learn more about commercial real estate, this podcast is for you. Jonathan will talk with experts in all of the various asset classes of CRE to bring you tons of value. Hear from experts in areas like: office, industrial, retail, RV parks, mobile home parks, development, multi family, plus tons more.A theme of the podcast is to use commercial real estate as a tool in order to live an amazing life. Learn how to invest, while also exploring your passions, interests, and important relationships.Subscribe to The Source of CRE to learn commercial real estate, improve your mindset, gain financial freedom, and live an amazing life.Email Jonathan with comments or suggestions:podcast@thesourcecre.comOr visit the webpage:www.thesourcecre.comSupport the podcast by making a monthly donation through Patreon. When you contribute, you'll get access to bonus content not available anywhere else. If you enjoyed this episode, you would probably enjoy reading my weekly newsletter. Every Friday, you'll get a behind the scenes look at my investing, including current events in commercial real estate, deals I'm working on, and random personal things going on in my life. It's a super quick read and you can unsubscribe anytime. - Jonathan Subscribe to the newsletter here: www.thesourcecre.com/newsletterEmail Jonathan with comments or suggestions:podcast@thesourcecre.comOr visit the webpage:www.thesourcecre.com*Some or all of the show notes may have been generated using AI tools.
Too often, people are caught up in the weeds, doing work that is consuming their energy, which is not a scalable or efficient business model. That's why in a real estate business like multifamily, it's crucial to be a master delegator. In today's #Highlights episode, we feature our conversations again with Steve Rozenberg and Kay Kay Singh who tell us their secret on how they were able to scale fast and find success.Steve shares some of the ways in which he delegates, the kind of systems he has in place to make this delegation possible, and much more. Meanwhile, Kay Kay talks about effective ways how you can be a successful passive investor in this space. Click the play button now and learn valuable lessons on how you can be a master delegator today!
The Investor Relations Real Estate Podcast Episode 83 - You Have To Have A PlanHost: Jonny Cattani Guest: Kay Kay SinghProducer: April MunsonJonny Cattani is joined by Kay Kay Singh to discuss:Ownership of gas stations as an asset class and how that investment has opened doors to further a professional career A Microsoft Certified System Engineer turned a successful entrepreneur and multi-business owner owning multiple Gas stations and convenience stores, two Laundromat, a Banquet Hall, 40 SFRs (Sold) in Northeast Indiana and an investor in 5411 units as LP and 2676 units as GP in 7 properties in 4 states, Multifamily syndicated deals at various locations in the US.Connect with Kay Kay!Join Our Facebook Group: 10X Multifamily Investment Group Website: www.growrichcapital.com Connect with Jonny!Cattani Capital Group: https://cattanicapitalgroup.com/Invest with us: invest@cattanicapitalgroup.comLinkedIn: https://www.linkedin.com/in/jonathan-cattani-53159b179/Jonny's Instagram: https://www.instagram.com/jonnycattani/IRR Podcast Instagram: https://www.instagram.com/theirrpodcast/TikTok:https://www.tiktok.com/@jonnycattani?lang=enYouTube: https://www.youtube.com/channel/UCljEz4pq_paQ9keABhJzt0AFacebook: https://www.facebook.com/jonathan.cattani.1
Peak Financing Market Watch Podcast is live right now! Tune in as our guest speaker Kay Kay Singh, Founder and CEO of Grow Rich Capital, joins the show to share his experience in diversifying your investment portfolio to help you achieve your financial goals faster and reduce your risk of losing money if one of your investments tanks. Here are some of the highlights in this episode: Investing in gas stations, laundromats and multifamily Pros and cons of owning a gas station How to setup a laundromat chain despite oversaturation Testing multifamily as a passive investor before transitioning into GP roles And so much more! Tune in now: https://anchor.fm/peakmarketwatch Prefer the Livestream? Subscribe here: https://www.youtube.com/channel/UCzITZS52FDhGq9XOUgD6BuA... #peakmarketwatch #peakfinancing #multifamilyinvesting #multifamilyfinancing #commercialrealestate #commercialfinancing #realestatesyndication #multifamilyinvestingeducation #l #multifamilyrealestate #investmentportfolio #diversifiedportfolio #investmentportfoliodiversification
Today I chatted with Kay Kay Singh the Founder, President & CEO of Grow Rich CapitalKay Kay is a Microsoft Certified System Engineer turned successful entrepreneur, active and passive investor in several Multifamily properties in several different states with multiple Sponsors, and owns 40 Single-family houses and 8 Gas Stations, a Laundromat, and a Conference and Reception Centre in NE Indiana. He is an experienced President with a demonstrated history of working in the retail industry. He is also skilled in Negotiation, Management, Customer Service, Account Management, and Sales. and a real estate investor. Episode Spotlights- Downsizing gas station investments to focus on Multifamily- Kay Kay shares about his latest 336 units deal in Melbourne,Florida- Short of supply of proper real estate properties- Raising $3M overnight Book Recommendations- Think & Grow Rich Connect with Kay Kay Singh:Linkedin: https://www.linkedin.com/in/krishan-%E2%80%9Ckay-kay%E2%80%9D-singh-10662796/ Website: https://growrichcapital.com/FB group: NX Multifamily Investment Group Grab your freebie - Tips for Multifamily Investing at www.ushacapital.comFound this episode insightful? Show us some love by spreading the word on social media or rating and reviewing the show here - https://podcasts.apple.com/us/podcast/multifamily-ap360/id1522097213Follow Rama on socials!LinkedIn | Meta | Twitter | InstagramConnect to Rama KrishnaE-mail: info@ushacapital.comWebsite: www.ushacapital.com
Having more than one source of income is the best way to build and secure wealth. Kay Kay Singh is a Microsoft-certified systems engineer turned real estate investor and entrepreneur. He's a GP in 5500 multifamily units, and the owner of several gas stations and ground-up laundromat builds. From doing proper due diligence to leveraging technology, Kay Kay shares the secrets to his success in these different spaces. [00:01 - 08:16] Buying 40 Single-family Homes All At Once Kay Kay on his background and experience working with an old school owner Going on his own and incorporating technology into his process Why he transitioned to being a passive investor His plans for his gas station business [08:17 - 13:28] Proper Due Diligence in Loans The importance of catering to investors Investing with his own money Why they do non-recourse loans Doing everything from putting the risk money down to the asset management [13:29 - 17:56] Using Automation in Business Seeing the need for a laundromat in his neighborhood Creating a card system to solve a problem Incentivizing customers to adapt How his customers are in a way working for him for free [17:57 - 19:18] Closing Segment Reach out to Kay Kay! Links Below Final Words Tweetable Quotes “I'm very good at communication. When somebody texts me, emails me, calls me, I try to answer their calls as soon as possible. So I'm trying to do my best to cater to my investors, and that way, I can raise capital easily for my deals.” - Kay Kay Singh “I don't have my investors in the deal if I can't invest my own money because my investors are my net worth. So I have to be very careful. I'm not deal-hungry, so I'm not getting on every deal that that comes across my desk. ” - Kay Kay Singh “I looked at everything and I tried to do my best to get everything in and make the customers happy and also provide something different.” - Kay Kay Singh ----------------------------------------------------------------------------- Connect with Kay Kay Singh through the Grow Rich Capital website. Resource Mentioned: Think and Grow Rich by Napoleon Hill Connect with me: I love helping others place money outside of traditional investments that both diversify a strategy and provide solid predictable returns. Facebook LinkedIn Like, subscribe, and leave us a review on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in! Email me → sam@brickeninvestmentgroup.com Want to read the full show notes of the episode? Check it out below: Kay Kay Singh 00:00 I wanted to give something good back to the community as well. So I bought that lot and built it from ground up. And it's a card system and bigger machines. And I did one year of research before building it. So I had looked at every aspect, every equipment that is needed, and even 15 years from now. Intro 00:24 Welcome to the How to Scale Commercial Real Estate Show. Whether you are an active or passive investor, we'll teach you how to scale your real estate investing business into something big. Sam Wilson 00:36 Kay Kay Singh is a Microsoft-certified Systems Engineer turn successful multi-business owner and a real estate investor. Kay Kay, welcome to the show. Kay Kay Singh 00:45 Thank you so much for having me on your show, Sam. Sam Wilson 00:48 Pleasure's mind. Three questions I ask every guest who comes on the show in 90 seconds or less. Can you tell me where did you start? Where are you now? And how did you get there? Kay Kay Singh 00:56 I started in real estate in 2015 by buying a portfolio of 40 single-family houses now. I'm a partner in 5500 multifamily units. And to get there, I started investing passively when I bought this portfolio, I started investing passively with the other partner, other syndicators and then learn from there and transition to the GP-side back about four years ago. Sam Wilson 01:26 That is a heck of a leap into real estate. Most people don't buy 40 single-family homes all at once, what gave you the confidence to say, Hey, this is this is something I think I can execute on. Kay Kay Singh 01:40 The guy who sold us is from our community, very respected guy and is a senior citizen, and he wanted to return, he promised me so many things that I can decline. Sam Wilson 01:52 He promised you so many things. What does that mean? Kay Kay Singh 01:55 That means he gave me a good deal, number one. And the second thing, he promised that I don't have to spend a penny to get down the portfolio. So kind of self-financing. And the third thing, he said, I will train you for a year. Sam Wilson 02:11 Wow. Kay Kay Singh 02:12 Not all things happened. He changed his mind about the seller financing. And we had to go to the bank to get a seller financing. But in trade of that I got a one house free. And also when he started training me, he was old school. So he was doing everything with a pen and pencil. I didn't like doing that. Being a Microsoft-certified System Engineer. I wanted to use the technology available these days to manage my properties. So I let him go after 10 days of ownership. Sam Wilson 02:49 So the year deal didn't really matter if he was there. You said hey, I figured it out pretty fast and said I can do this better after 10 days. Kay Kay Singh 02:58 Yes. Sam Wilson 02:59 What were some of the things you implemented? Obviously getting off pen and paper was one of them. But what were some other things that you looked at and said, Man, I can do that better. Kay Kay Singh 03:06 Most of it was technology. So I read online and bought us property software, property management software and a lot of other technology. Everything was paperless. So I made everything paperless and convenient. I didn't have to sit in the office. Also with by signing the property management software, everybody was paying online. Or I had a lockbox, they could drop a money order check over the lockbox too, so I didn't have to be there. First thing I made myself independent because at that time, I was managing a gas station and a laundromat. So I didn't have time to sit there in the hours and wait for the tenants to come and pay the rent and tell me all the stories they have. Sam Wilson 03:51 Right. Yeah. Were there any other surprises when you took that portfolio over? Kay Kay Singh 03:56 Not really, because he was very honest and telling us everything he had. And I did work some of the properties. I didn't work all the properties. And he was very transparent. Sam Wilson 04:09 Wow, that's unusual. Good for you. Kay Kay Singh 04:12 There weren't any deferred maintenance either. Sam Wilson 04:14 Wow. That's fantastic. You quickly transitioned though, to being a passive investor in multifamily. What was the thinking or what was the impetus to do that? Kay Kay Singh 04:26 When I started the real estate, I thought, Okay, now at that time, I had eight gas stations and a couple of laundromats and I thought okay, now we won't have to pay any income tax because we are in the real estate business, but we ended up paying more tax. And then I thought okay, I thought we can be in the real estate business and not pay any tax but I'm ending up paying more tax. So I checked up with my account and I started researching myself. And then I came through the word syndication and passive investment I've never thought of before. But then I immediately invested with one of the syndicators in Indianapolis, where you are from. So that was my first investment. And I started learning from there. And then I invested heavily passively. Sam Wilson 05:18 What caused your taxes to go up when you acquired 40? Houses? I mean, those are no depreciation, no... Kay Kay Singh 05:25 Because there was no, we didn't get any costs. Actually, I didn't even know there is any cost segregation or anything at that time. So my taxes went up, because we've made a lot of income from those properties. Sam Wilson 05:40 Right. Interesting. Okay, yikes. Yeah. And so then you said, Alright, so I can figure this passive investment thing out, what's your long term, what's your long term plan in real estate investing, like, you go fat 10 years from now, where do you want to be? Kay Kay Singh 05:55 I still partner with other people and do deals, and I want to do my own deals at some point. I have sold for gas stations last year, I'm trying to get little stuff off my plate before I jump in by myself. I have been partnering with other good operators and doing deals for the last four years. Sam Wilson 06:17 You sold four gas stations, gas stations seemed like one of those things that especially in a time, you know, in a high inflationary environment, that would be a very nice asset to own because your product gets repriced daily, is that not a fair assumption? Or am I missing something there? Kay Kay Singh 06:34 I don't think so. Because there is a labor problem too. So you can keep up to date with the rising prices, sometimes you end up selling cheaper, the wholesalers have a lot of more infrastructure than we do at the gas station level. So they can raise the prices with one click of a button but we have to bring all the stuff into the office, scan them and change the pricer and all that. So we don't have that kind of technology. And we cannot afford that kind of technology to keep up. So sometimes we end up selling cheaper stuff, we don't get time to update the pricing on daily basis. Sam Wilson 07:12 Interesting. So that sounds like one thing maybe you didn't like about the gas station business. What were some other things in it that are maybe given you like, Hey, I think there's more opportunity elsewhere? Kay Kay Singh 07:23 No that I didn't like I have been in the gas station business for 22 years. I still own several gas stations. But I think it's time to get out of it because I'm getting old. And gas station needs a lot of daily work. So I think real estate is much better, where you can work from anywhere. I mean, gas stations, I've really done work during the last 22 years in the gas station business. I'm not saying anything about the gas station. That's all we knew about seven years back, I'm trying to get some stuff off my plate so that I can focus more on multifamily only. Sam Wilson 08:03 That is really cool. I love when people have multiple income streams when you're in, you know, obviously multiple businesses, things that generate revenue, because it gives you a perspective other people maybe don't have. So you love real estate, you love what it does for you. But you've come in on the passive investment side, and then you've come in on other 5500 units on the general partner side. It sounds like you'd like you said your long term goal then is to be the active sponsor. What are things you're doing right now as part of the general partnership where it's a good relationship for you and your other partners? Kay Kay Singh 08:38 I focus on capital raising, and I do have the network to sign loans, etc. So I'm on KP on a lot of deals as well. But I kind of I have a passion. I'm a people person I have built trust over these 22 years I've been here in United States, I'm very good at communication. When somebody has they text me email me call me. I try to answer their calls as soon as possible, etc. So I'm trying to do my best to cater to my investors. And that way I can raise capital easily for my deals. Sam Wilson 09:16 Talk to us about the loan guarantor side that's not something we spend a lot of time talking about, what are things that you are seeing on the loan guarantor side you'd like and what are things that concern you about it? Kay Kay Singh 09:28 Of course, there is a liability, there's a risk, but I do my proper due diligence before I sign the loan, I don't want to put my net worth and that gives me confidence and I invest my own money in every deal. And that gives a less, I don't have my investors in the deal if I can't invest my own money, because that is, my investors are my net worth. So I have to be very careful. I'm not deal-hungry, so I'm not getting on every deal that comes across my desk. I do my own due diligence, I do underwrite by myself. If I like the deal, if I like the market, if I like the sponsors, then only I do the deal. Sam Wilson 10:11 When you're a loan guarantor, are you doing non-recourse loans only? Kay Kay Singh 10:17 Yes, because we do larger properties. So those are always non-recourse loans. And also, by signing the loan, you are on the right side of the law. And also I'm because legally, you cannot only raise capital, right? So I'm signing the loans, putting the earnest money in doing going to the due diligence and attending the asset management calls and everything. So to be a part and that way, I have more confidence on the property, because I'm on their weekly calls every week and know a lot what's going on the property, etc, that I can communicate with my investors. Sam Wilson 10:57 Yeah, I mean, I think it's interesting, obviously, on the loan guarantor side, because the lender wants to make sure that even if the property doesn't perform that there is a balance sheet, that or balance sheet partner, obviously can come on and cover that debt if for some reason the loan, or the property isn't producing enough income to cover the debt. I think it's also intriguing when you get into these situations where it's non-recourse, so even if you decide yourself, you're not going to pay it, they can't necessarily come after you. So it's kind of an interesting mix of like, why do they even need a loan guarantor, right? Kay Kay Singh 11:30 Well, if something goes wrong, there are cards in those recourse loans, too. So if something goes wrong, they can still come after you. And they're gonna have you send your quarterly, your bank balances and all that quarterly. They want to make sure that the backup is good enough. Sam Wilson 11:49 Right. Right. No. Understood. Understood. Yeah. I mean, there's always the bad boy, we call the bad boy carve out. Yeah. Right. So if you guys do something not supposed to do, which, I mean, obviously, that puts a lot of that means you have to have a lot of trust in your other partners, that they're gonna behave ethically, morally take care of everyone in the process, and not things they shouldn't be doing. What is a typical structure? I've heard all sorts of different structures on a loan guarantor side tell us, maybe you know what you see the typical structure for a loan guarantor when you come on as a general partner. Kay Kay Singh 12:23 So I do not go as a KP only, right. So I can talk much about the structure for KP, because I do everything from putting the risk money down to the asset management. So I don't just go and sign loans for other people and then get a piece of the pie. But I have heard it, it's like 10% to 15%. I have heard other people and they're looking for KPS, they're offering 10 to 15. And I have been offered several times, but I just don't sign the loans. Sam Wilson 12:58 Right. Right. That answers I think that answered that question very well, thanks for taking the time to kind of break that little nuance to this business down because I think people when they're scaling, they often have that question. They're like, well, you know, we could take this deal down, we understand it well enough, but maybe they're not far enough along in the business where they have that balance sheet to back it up. So go find bringing on a balance sheet partner a loan guarantor is, you know, an excellent way to take down some of these larger assets, especially early on, let's talk a little bit about the laundromat business. You and I are have this in common. And I think it's a fun again, it's a fun diversification outside of potentially real estate, but you guys have done because I know you've built some ground up. Is that right? Kay Kay Singh 13:44 Yes. Sam Wilson 13:45 Okay, can you tell us a little bit about the business, what you like about it, and where you see it going to backup back in 2012? When it was so I had an empty lot sitting by my gas station, somebody owned, so I decided there was a laundromat down the street, a block away. And they used to come and get quarters from us. And they were always complaining about the laundromat. Right then it took their quarters and all that stuff. So it stuck to my mind that we need a laundromat in this neighborhood and I had been in this neighborhood for 12 years where that gas station that was my first gas station. So I wanted to give something good back to the community as well. So I bought that lot and built it from ground up. And it's a card system and bigger machines. And I did one year of research before building it. So I had looked at every aspect, every equipment that is needed, and even 15 years from now. So I looked at everything and I tried to do my best to get everything in and make the customers happy and and also provide something different than what other laundromats in Fort Wayne provided. And I did that. Sam Wilson 15:05 When you say you went to a card system, you know most people think of laundromats or putting quarters in the machines is yours only card? Kay Kay Singh 15:13 Only card. Sam Wilson 15:14 Interesting. So you've eliminated the need to go in and collect quarters out of all these machines every week. If you found any, we're gonna get nuanced here. But if you found any potential loss of revenue, because people come in and they want to spend quarters in the machines, are they expect to have a coin laundry? Kay Kay Singh 15:34 No, we haven't. And I was a little skeptical in the beginning that people might not like just the court system. And it happened, a lot of people would walk to the laundromat, and then when they see all we have to have a card, they would go away. So for the very first year, I had the employees. So I trained my employees, because it was by our gas station. So I spent some time there to, to educate the customers, right, we gave them $5 for registration of the card. So if somebody walked into the store with a bunch of quarters and say, hey, oh, I have only borders and machine doesn't take orders, those machines don't take orders, they take bills, or they take credit card, our slightly take them to the gas station, I'm not saying that money into bills, and then would buy them a card and then have them register and the machine-like throws flowers and says, Hey, you have one $5 And they would be happy. And at the end of the day, they would be happy customers when they walk out of the laundromat. Sam Wilson 16:42 Right. And that goes back to the automation thing of getting tenants to pay either digitally, or just eliminating some of those typical, you know, things that you're finding with the old school pen and paper guy you bought your first set of single-family houses from and I think that's the name of the game in this business is constantly finding innovations and inefficiencies. So when you bought some multifamily complex user management and efficiencies or 40 houses, you know, what are the inefficiencies that in problems we can solve. The other cool thing I think on those in it's the same way with the card system, it cuts out a lot of labor and risk. You know, there's cash and card games. The other thing it does, obviously, I think it gives you it gives you float, the whole gift card, you know business is a racket, people are always leaving 1, 2, 3 $4 on a card and then throwing it away. And that's just free revenue. Kay Kay Singh 17:30 And then on top of that, you have your customer working for you for free. So they are the ones training the new customers, right? So when they walk in, they don't know what to do. So the customers will take them to the extender and show them how to get a card and everything. So they're working for you while they're there for free. Sam Wilson 17:52 It's beautiful. It's a beautiful thing. Kay Kay, I love it. I appreciate you coming on the show today. This has been a lot of fun just hearing about your vast business experience. You know owning 40 single-family homes now being a general partner in 5500 units, owning eight gas stations, several ground-up laundromat builds I mean, you've got your hands on a lot of things and I love just the entrepreneurial spirit and the hustle that you bring to the table, certainly appreciate you coming on. If our listeners want to get in touch with you or learn more about you what is the best way to do that? Kay Kay Singh 18:21 We have a website, the name is growtichcapital.com The name I got from here. Grow Rich Capital and I would advise your audience to read, definitely read this book. This will change your life. Sam Wilson 18:37 I love it. Yeah, that's Think and Grow Rich. If you're listening to this, he's showing us Think and Grow Rich by Napoleon Hill. Love the fact you just borrowed the name and called it Grow Rich Capital. Sam Wilson 18:46 Kay Kay, thank you for your time today. I do appreciate it. Look forward in here soon. Kay Kay Singh 18:50 Thank you so much for having me, Sam. Sam Wilson 18:52 Hey, thanks for listening to the How to Scale Commercial Real Estate Podcast. If you can do me a favor and subscribe and leave us a review on Apple Podcasts, Spotify, Google Podcasts, whatever platform it is you use to listen, if you can do that for us, that would be a fantastic help to the show. It helps us both attract new listeners as well as rank higher on those directories so appreciate you listening. Thanks so much and hope to catch you on the next episode.
There are two kinds of real estate investors: active and passive. In this #Highlights episode, we look back at our conversations with successful passive investors. They are Kay Kay Singh and Rachel Richards.Kay Kay details how he became a successful passive investor in real estate and what you should be looking for a deal sponsor. Meantime, Rachel sheds light on how real estate played a key role in achieving her goal of retiring at 27 years old and earning five digits per month passively. Enjoy the show!
Your host, Annie Dickerson talks with Kay Kay Singh. From getting started in the gas station business to investing in multifamily, Grow Rich Capital helps busy high net-worth individuals to invest passively in hassle-free, income-producing, risk-adjusted multifamily properties in the best-emerging markets in the United States. The goal is to help others create cash flows so that our investors may pursue other passions and have more freedom in life! To learn more, visit https://growrichcapital.com/ (https://growrichcapital.com/ ) If you'd like to be a guest on Real Estate Syndication Spotlight, click https://goodegginvestments.com/podcast1/ (HERE)
Title: Doing Real Estate Business your Way with Kay Kay Singh Microsoft Certified System Engineer turned successful entrepreneur, active and passive investor in several Multifamily properties in several different states with multiple Sponsors and owns 40 Single-family houses and 8 Gas Stations, Laundromat and a Conference and Reception Centre in NE Indiana. Experienced President with a demonstrated history of working in the retail industry. Skilled in Negotiation, Management, Customer Service, Account Management, and sales and a real estate investor. A strong business development professional with a Bachelor of Arts (B.A.) focused on Computer Science from Govt. College Chandigarh. Let's tune in to his story! [00:01 - 10:49] Opening Segment Let's welcome my guest for today's show, Kay Kay Singh Kay Kay shares how he got into the Real Estate business Managing 40 single family properties Switching to multifamily deals Lowering your taxable income through depreciation Learning about Cost Segregation [10:50 - 26:50] Kay Kay's Multifamily Journey The similarities and differences between his previous business and Real Estate From a passive investor to an active investor Kay Kay shares about his first multifamily deal It has been sold on the day of recording of this episode! Congratulations, Kay Kay! On removing tenants What is breakeven occupancy? Kay Kay's back-up plans Asset management lessons by Kay Kay [26:51 - 29:51] Closing Segment Final Words Connect with my guest, Kay Kay, in the links below Tweetable Quotes “Honestly I didn't know what cost segregation is [as a newbie in the space].” - Kay Kay Singh "I started doing roles in syndications rather than being basic.” - Kay Kay Singh ------------------------------------------------------------------------ Reach out and connect to Kay Kay through his website www.Growrichcapital.com And email him at kaykay@growrichcapital.com Join Kay Kay's Facebook group! https://web.facebook.com/groups/10XMultifamily/?_rdc=1&_rdr WANT TO LEARN MORE? Connect with me through LinkedIn Or send me an email sujata@luxe-cap.com Visit my website www.luxe-cap.com or my Youtube channel Thanks for tuning in! If you liked my show, LEAVE A 5-STAR REVIEW, like, and subscribe!
Good tax strategy can make or break your business. In this episode, Lisa Hylton's guest talks about using real estate syndications to reduce tax overheads. Kay Kay Singh is the founder and CEO of Grow Rich Capital. An entrepreneur starting from childhood, Kay Kay has deep insights on managing business ventures. Sharpen your mind and grow rich in this episode with Kay Kay Singh and explore ways to ensure your business is prospering well how he made decisions in certain situations all throughout his ventures. Love the show? Subscribe, rate, review, and share!Here's How »Join The Level Up REI Podcast Community today:lisahylton.comTwitterInstagramFacebookLinkedInYouTube
Hey! Pili Yarusi here.I can't wait to share this incredible story with you!Kay Kay Singh is a Microsoft Certified System Engineer turned successful serial entrepreneur. Kay is an investor in 3,411 units as LP and 1,338 units as GP in multifamily syndicated deals across the USA. He owns multiple gas stations and convenience stores, two laundromats, a banquet hall, and owns 40 single-family rentals (SFRs) in Northeast Indiana.Not only that, Kay owns various agricultural, commercial, and residential properties in India. With 10+ years of business experience in India and 20+ years of business experience in the USA, Kay is the CEO of Grow Rich Capital. Kay is always seeking expansion opportunities, new investment opportunities, networking, and partnering with like-minded entrepreneurs.Listen in now!Connect With Kay Kay SinghWant to connect with Kay? Visit his site at https://growrichcapital.com/.Want to Learn More About Multifamily Real Estate Investing?If you're an experienced real estate investor and you're ready to get around a community of active multifamily real estate investors who will support you, hold you accountable, and push you to set goals that inspire you as you grow your business, check out 7 Figure Multifamily and see if it looks like a good fit. If it is, I invite you to join in. If you have any questions, please reach out!- CLICK HERE: https://7fm.7figuremultifamily.com/7fmgroup====================Want to continue your multifamily real estate journey? Here are a few more resources to check out...Multifamily Live Podcast: Subscribe and get more episodes like this one delivered to you every week! Click Here: https://www.7figuremultifamily.com/multifamily-live-podcastFacebook Group: We've built a community of serious investors who are learning and growing their businesses together. Join the Group on Facebook: https://www.facebook.com/groups/multifamilylive/7FigureMultifamily.com: Learn more about who we are, our mentoring groups, upcoming events, and the causes we support at our website. Plus, grab some free downloads and other materials to help you on your real estate investing journey! Click Here: https://www.7figuremultifamily.com/ See acast.com/privacy for privacy and opt-out information.
How do you turn a $5.15/hour job into a business partnership within 4 months? Kay Kay Singh not only got promoted in less than half a year. He got a piece of the business he's employed to by working so hard, leveraging his knowledge and educational attainment, and coming from a place of help. From gas stations, laundromats, and real estate, there's no stopping Kay Kay in pursuing his business endeavors. Kay Kay is the Founder and Chief Executive Officer of Grow Rich Capital, helping busy high net worth people in investing in multifamily real estate. [00:01 – 02:28] Opening Segment What is Kay Kay Singh doing right now? [02:29 – 13:04] Kay Kay's Journey Kay Kay talks about his journey from India to the United States How he turned a $5.15/hour job into a business partnership Learn the business model of gas stations from Kay Kay How do you get your ROI from gas stations? [13:05 – 24:19] Business Ideas How to earn money from laundromats The other benefits of starting a laundromat business Other business ideas from Kay Kay [24:20 – 36:40] Cashflow Talks Kay Kay walks us through his path to real estate investing From single family to multifamily Kay Kay's advice for passive investors Asset classes in real estate you should explore Cashflow talks with Kay Kay [36:41 – 43:47] The Contrarian 3-Pack What would you say is the most contrarian investment you've made? Houses What's your favorite activity to do with your friends and family outside of work? Go on vacations with his family What actions, whether within work or family, offer you the most fulfillment in life? His charity work Connect with Kay Kay. Links available below. Tweetable Quotes: "First of all, anybody who wants to get on these deals as a general partner, they need to bring something to the table." – Kay Kay Singh "I think it's sheer luck that I have never been unsuccessful in any business." – Kay Kay Singh "[Charity] gives me peace of mind...That gives me a lot of fulfillment." – Kay Kay Singh Resources mentioned https://evernote.com/ (Evernote) You can email Kay Kay at kaykaysingh@growrichcapital.com or connect with him on https://www.linkedin.com/in/krishan-%E2%80%9Ckay-kay%E2%80%9D-singh-10662796/ (LinkedIn). Check out http://growrichcapital.com/ (Grow Rich Capital) and start your multifamily investing! LEAVE A REVIEW + help the podcast grow by sharing it with your friends, family, or someone in need. Follow me on https://www.linkedin.com/in/joblanto/ (LinkedIn) or visit our http://contrariancashflow.com/ (website) to know more. Think Different. Earn Different. Live Fulfilled.
Kay Kay Singh and a successful multi-business owner of commercial and residential properties in Indiana.Kay Kay began his business over 30 years ago and is now a proud owner of eight gas stations, a high-tech Laundromat, and joined the Real Estate business in 2014 by purchasing 40 SFRs along with becoming a partner in 13 apartment properties (3300+). He also owns agricultural land and commercial/residential real estate in India. Kay Kay Singh has been featured in many popular multifamily podcasts and began his only monthly newsletter to share his knowledge!
In this short clip, Kay Kay Singh talks about his personal experience when working with in-house construction teams vs hiring subcontractors. Kay Kay is a Microsoft Certified System Engineer turned a successful entrepreneur and multi-business owner owning multiple Gas stations and convenience stores, a Laundromat, and SFRs in Northeast Indiana, and an investor as LP/GP in multifamily syndicated deals at various locations in the US. He also owns various agricultural, commercial, and residential properties in India. Has 12+ years in India, 21+ years of business experience in the USA, and always seeking expansion opportunities. Always interested in new investment opportunities, networking, and partnering with like-minded entrepreneurs. Connect with KAY KAY SINGH: Facebook: https://www.facebook.com/KrishanS377 LinkedIn: https://www.facebook.com/KrishanS377 --- Send in a voice message: https://anchor.fm/elevatingpm/message
Welcome to another episode where we have Kay Kay Singh, he will be talking about owning gas stations, laundromats, investing actively and passively in multifamily real estate, and more. Kay Kay is a Microsoft Certified System Engineer turned a successful entrepreneur and multi-business owner owning multiple Gas stations and convenience stores, a Laundromat, and SFRs in Northeast Indiana, and an investor as LP/GP in multifamily syndicated deals at various locations in the US. Own various agricultural, commercial, and residential properties in India. Has 11+ years in India, 20+ years of business experience in the USA, and always seeking expansion opportunities. Always interested in new investment opportunities, networking, and partnering with like-minded entrepreneurs. Connect with KAY KAY SINGH: Facebook: https://www.facebook.com/KrishanS377 LinkedIn: https://www.facebook.com/KrishanS377 --- Send in a voice message: https://anchor.fm/elevatingpm/message
Kay Kay Singh is a Microsoft certified system engineer turned successful entrepreneur. He is an active and passive investor in several states with multiple sponsors and owns 40 single family houses, eight gas stations, a laundromat and a conference and reception center in Indiana.In this episode, Tyler and Kay Kay discussion focused on Kay Kay's process of reinventing himself and the power of partnerships. They discussed Kay Kay reinvention as an entrepreneur after losing his first job in America, the 80-20 mindset rule, how to maximize partnerships, setting parameters and Kay Kay's approach to strategic partnerships.Other topics included the day-to-day tools Kay Kay uses to maximize his output as an entrepreneur, habits, the power of vision boards, goal-setting, Kay Kay's charity, giving to get and more! Connect with Kay Kay:Website: http://www.growrichcapital.comInstagram: https://www.instagram.com/singh_kay_kay/Facebook: https://www.facebook.com/groups/10XMultifamilyLinkedIn: https://www.linkedin.com/in/krishan-%E2%80%9Ckay-kay%E2%80%9D-singh-10662796/The following books were mentioned in the show:Miracle Morning by Hal ElrodRich Dad Poor Dad by Robert KiyosakiThink and Grow Rich by Napoleon HillApply for coaching with Tyler! The world's top performers in any field have a coach to help them achieve drastically greater results and in less time. The most successful real estate investors are no different. To apply for a results coaching session with Tyler, visit coachwithtyler.com.This episode of Elevate is brought to you by CF Capital LLC, a national real estate investment firm that focuses on acquiring and operating multifamily assets that provide stable cash flow, capital appreciation, and a margin of safety. CF Capital leverages its expertise in acquisitions and management to provide investors with superior risk-adjusted returns while placing a premium on preserving capital. Learn more at cfcapllc.com.
Winston Churchill once said that: We make a living by what we get; we make a life by what we give. This perfectly describes our guest for this episode. From being jobless in 2001 to owning gas stations and building laundromats for his community, and eventually acquiring real estate properties, Krishan or Kay Kay used his life experiences to grow his business and give back to his community. How did he do it? Krishan combined different asset classes together, a lot of it grew organically through him having a continuous investor mindset, with a desire to learn more. In this episode, Krishan talks about the levels of trust that he has with his investors, how he grew his humble laundromat business, and the amazing story of his passion for giving back. If you are interested in investing with us, contact us on our Investor Contact Page
A Microsoft Certified System Engineer turned a successful entrepreneur and multi-business owner owning multiple Gas stations and convenience stores, a Laundromat, an Event Centre and 40 SFRs in Northeast Indiana and an investor in around 2914 units as LP/GP, Multifamily syndicated deals at various locations in the US. Own various agricultural, commercial and residential properties in India. Has 10+ years in India, 19+ years business experience in USA and always seeking expansion opportunities. Always interested in new investment opportunities, networking and partnering with like-minded entrepreneurs. In this episode we talk about: Rent Roll Taking over properties LOI Evernote Underwriting Networking Subscribe to my Youtube Channel for more great content. Download my Free Deal Calculator Spreadsheet! Links from the show: Grow Rich Capital Talie Investments Facebook Page Talie Investments Instagram Join our Facebook Group South Florida Multifamily & More Talie Investments Resources Get our FREE Deal Calculator and CRE Glossary Please leave us a 5-Star rating and a review in iTunes. Each review helps us reach more people.
Krishan Singh is the CEO of Grow Rich Capital. He is a Microsoft Certified System Engineer turned a successful entrepreneur and multi-business owner. Krishan owns multiple Gas stations and convenience stores, a Laundromat, and 40 SFRs in Northeast Indiana. In addition, he has investments in around 2764 units as LP/GP, Multifamily syndicated deals at various locations in the US. He also owns various agricultural, commercial, and residential properties in India. Krishan has 10+ years in India, 19+ years of business experience in the USA, and always seeking expansion opportunities. He was always interested in new investment opportunities, networking, and partnering with like-minded entrepreneurs. Krishan came to the U.S. to pursue the American Dream and work full time as an engineer for Microsoft. Unfortunately, he lost his job. Luckily, he found a great business in the gas station niche. Kay Kay grew that portfolio to 15 gas stations before being approached to buy a 33 unit portfolio of single-family homes. (00:01-02:49) Opening Segment - Introduction of the guest, Krishan Singh into the show - Krishan shares something interesting about himself (02:50-27:31) The Journey to Real Estate Investing and Gas Station Profits - Krishan tells how and why he chose to invest in real estate - First real estate deal - Krishan shares how the first deal worked out for him - Krishan also tells why he chose to invest in a gas station - Difference of gas station from real estate and other investment types - How to own a gas station? - Krishan shares how the ownership of the real estate of the gas station works - How long can you lease a gas station? - Krishan tells how he operates and overlook his gas stations - Due diligence in a gas station - How does negotiation works on gas stations? - Does the gas station need financing? - Best Gas Station Deal - Worst Gas Station Deal - Krishan tells where he thinks the gas station is going - What's next for Krishan Singh? (27:32-27:50) BREAK (27:51-28:06) Second Segment - Welcoming listeners back and re-introducing podcast guest, Krishan (28:07-37:04) Fire Round - Will Krishan change his business strategy after Coronavirus? - Favorite real estate finance or and personal development related book? - Website or tools that Krishan recommends - Krishan's advice for the beginner investors - How does Krishan give back? - How can Wealth Matters Podcast listeners reach out to Krishan? (37:05-37:27) Closing Segment Reach out to Krishan via email kaykay@growrichcapital.com or by visiting his website: www.growrichcapital.com
5 Talents Podcast - Commercial Real Estate, REI, Financial Freedom
Get out of your comfort zone, start investing, then start learning. This was the process of today’s guest, Krishan “Kay Kay” Singh, Founder and CEO of Grow Rich Capital. Kay Kay is originally a Microsoft Certified System Engineer turned successful entrepreneur, an active and passive investor in several Multifamily properties with multiple Sponsors. He also owns 40 Single-family houses and 8 Gas Stations, a Laundromat, and a Conference and Reception Centre in NE Indiana.Let’s dive right into Kay Kay's wealth of experience and learn his breakdown of the 4 Major Syndication Components and the Power of Being a Specialist. [00:01 - 06:04] Opening SegmentLet’s get to know Kay KayKay gives us a bit of background [06:05 - 11:31] Managing Multiple Businesses How Kay Kay raised capital and developed his own gas stationsKay Kay talks about how he got and managed his 40 single-family houses[11:32 - 15:28] The Pluses of Syndication Moving from Single Houses to Multifamily How Kay Kay started getting into coaching and GP[15:29 - 24:44] The Syndication BucketsHe talks about his partnering journey within a Mastermind Kay Kay talks about the 4 to 5 buckets of Syndication Sourcing, Underwriting, Taking it Down, Capital Raise[24:45 - 32:31] Getting Your First Deal Kay Kay talks about having no regrets in the process Kay Kay's advice to starting investors - the questions to askThe market and the submarket [32:32 - 37:15] Giving Back Kay Kay talks about his humanitarian efforts [37:16 - 47:03] Closing SegmentConnect with Kay Kay and support his other projectsLinks belowThe benefits of coachingTaking action Final words of wisdom from Kay Kay and Me - connect with us. Tweetable Quotes:“I wanted to do it myself, I didn’t want to hire a management company because I wanted to learn the business… ” - Kay Kay Singh“I just invested in one of the deals and from there I started learning, and actually I had a passion for it; I didn’t even know until I starting doing it, that I had a passion for it. “ - Kay Kay Singh “I’m taking action today, I don’t want to wait until tomorrow.” - Kay Kay SinghResources:Census.govForgotten Children Worldwide10xMultifamily Investment Group------------------------------------------------------------------------------------------Connect with Kay Kay on LinkedIn, Facebook, Bigger Pockets Profile, and Facebook Group. Visit http://growrichcapital.com/ to learn more about scheduling a coaching appointment. Guest Email: kaykay@growrichcapital.comConnect with me:https://www.5tcre.com/FacebookLinkedInInstagramWatch 5T CRE on YouTubeLeave us a review and receive your free eboSupport the show (https://www.buymeacoffee.com/5Talents)
Today I had the pleasure of speaking with the entrepreneur, and founder and CEO of Grow Rich Capital, Krishan Singh.Let’s dive into Krishan’s story of how he paved his way to success in a foreign land.Things you will learn in this episode:[00:01 – 08:08] Conquering Foreign LandI introduced guest Krishan “Kay Kay” Singh into the showKrishan talks about his background and how his journey beganMoved to the USA with his familyStarted as a software engineer[08:09 – 16:31] Investing in Multifamily Real EstateKrishan shares how he got into multifamily real estate investingKrishan talks about investing in real estate back in IndiaKrishan shares about the challenges he faced in multifamily[16:32 – 22:34] Transition to Gas StationsKrishan walks us through his ventures in gas stations“We buy the businesses first, then the real estate.”Krishan talks about how he helped others get into this business[22:35 – 35:53] The FINAL FOURQuick plug to my podcast producers, STREAMLINED PODCASTSUse Promo Code: Weiss for 20% OFF on your first monthWhat’s the worst job that you ever had?The first four months of working at night in a gas stationWhat was the book that has given you a paradigm shift?Escape by Anik SingalWhat is a skill or talent that you would like to learn?I started data visualization, advanced excel, and teaching my son multifamilyKrishan explains to us what data visualization isWhat does success mean to you?Helping others to be successful tooKrishan talks about a charity program they manageOffers free coaching for health professionals during this pandemicFinal words from me Tweetable Quotes:“I think in this business you do have problems, have a hard time finding good deals, and people when they make-up their OMs they look very nice and a lot of times they are not. So, I had to learn all that to make sure that those rosy pictures are really rosy.” – Krishan Singh“Giving back is the key to success.” – Yonah WeissYou can connect with Krishan on LinkedIn or Facebook. If you are looking to invest in multifamily real estate, visit their website http://growrichcapital.com/, connect with them, and start now! WHERE CAN I LEARN MORE?Be sure to follow me on the below platforms:Subscribe to the podcast on Apple, Spotify, Google, or Stitcher.LinkedInYoutubeExclusive Facebook Groupwww.yonahweiss.comNone of this could be possible without the awesome team at Buzzsprout. They make it easy to get your show listed on every major podcastSupport the show (https://www.buymeacoffee.com/weissadvice)
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. To learn more about Kay Kay and his journey, visit: https://wealthjunkies.com/wj194
Kay Kay Singh is a Microsoft Certified System Engineer turned a successful entrepreneur and multi-business owner owning multiple Gas stations and convenience stores, a Laundromat, and 40 SFRs in Northeast Indiana and an investor in around 2764 units as LP/GP, Multifamily syndicated deals at various locations in the US. Own various agricultural, commercial and residential properties in India. Has 10+ years in India, 19+ years of business experience in the USA and always seeking expansion opportunities. Always interested in new investment opportunities, networking and partnering with like-minded entrepreneurs. If you enjoyed this interview with Kay Kay, make sure to like, subscribe and share with a friend! #KayKaySingh #Business #RealEstate Watch this interview on YouTube: https://www.youtube.com/watch?v=lnTm238GKQg&t=47s --- Send in a voice message: https://anchor.fm/reallysocialestate/message
Kay Kay, shares with us an unseen and oftentimes unexpected repair that could end up costing investors tens of thousands of dollars. If you didn't include this in your budget, you could end up in deep water.
Target Market Insights: Multifamily Real Estate Marketing Tips
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. Partner: Join me at the Best Ever Conference plus 15% discount with 15DEAL 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 Partner: Download a Free Sample Apartment Deal Package 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 Leave us a review and rating on Apple Podcasts or Spotify. Be sure to check out more info at TargetMarketInsights.com.
Achieve Wealth Through Value Add Real Estate Investing Podcast
James: Hi, audience and listeners, this is James Kandasamy from Achieve Wealth, True Value at Real Estate Investing podcast. Today I have KK Singh, KK Singh is a big figure in our social media circles, especially in the multifamily and multi-families syndication. KK used to be a Microsoft Certified System Engineer. I like to call it MCSE because it's a pretty well known designation for system engineers and the Microsoft world; and KK also owns multiple businesses including gas station convenience stores, a Laundromat, and also he started a real estate with a 40 single family residential in Indiana. And currently he's an investor in almost 3000 units as a LP, and in some of it is a GP across all States in the US. And he also has done agriculture, commercial and residential property in India. And also, business experience, almost 10 to 19 years in the US, and is also looking for expansion opportunity. Hey KK, welcome to the show. KK: Hello. Thank you very much James for having me on your show. James: Sure, absolutely. Absolutely. So, KK let's get started with our show. I mean I got to know you like almost two years now. So you have been doing very well in terms of multifamily investing and especially you started as a passive and now you're going more into the GPU, but I want to go before that. So you are on a later part of your cycle and you did a lot of different businesses, Laundromat and gas station convenience stores. And so I want to go into that business before we go into multifamily. And then after that I want to compare that business to multifamily. And why did you, at this stage of your life, why did you want to do multifamily? Because there's a lot of people who want to really learn these different businesses. Like I always wonder how gas stations work. I always wonder how convenience stores work. How does a Laundromat work? And do they really make more money than what I'm doing right now in multifamily? So you are the best person to really tell us and our audience what are the different aspects of this business. So let's start with, I mean, you own gas station convenience store and Laundromat. So tell us about these three businesses. I mean, how does the business work? How much do people make? Even in that business, what are the values that you always see that it's very awful? KK: Well, I came to United States, as you said, Microsoft Certified System Engineer and I lost my job after 9/11. And it was just about six months before I came. So I had a job for about six months and I lost my job and my friends were in the gas station business in Indianapolis and they offered me a partnership in the business and they asked me to come and join their business. And so I decided, since I had no options, I decided to join their business as a partner. It was a gas station in Indianapolis. So I started managing that, I automated there, put it up because everything they were doing on papers with pen and paper. So I was a computer professional, so I did everything into computers. And soon we lost the lease because the owner did not renew the lease on that property. So I had learned the business because I had it for about a year. So I bought a gas station here in Fort Wayne after about a year and a half since I came to United States. James: So, before we go to the other business, how does a gas station make money? KK: Well, the gas station owners make money mostly on the inside sales. They don't make money on the gas. James: Oh, you don't make money on the gas? KK: But you don't make money on the gas. And most of the money is made on the convenience store side. So, first I bought one gas station and soon I had other people join me buying gas stations. Here I was, the first Punjabi to buy a gas station here in Fort Wayne. And soon I brought some of my friends, my relatives to buy gas stations here. So we formed a group and we started buying in bulk. And that way we made more money, we got more rebates; we got more kickbacks since we were buying in bulk. James: So the rebate and discounts that you get that's on the fuel price? KK: No, on the inside sales, mostly on the... James: On the inside sale? KK: Yeah. James: So, why does every gas station have different pricing in terms of fuel? KK: Because you have the right to price your own gas, whatever you want to. Some people like to make 5 cents; some people like to make 3 cents. Some people like to lose money on gas. James: So, I mean we are always wondering, I mean I'm sure I thought every gas station owner was trying to make some profit because every gas station has different pricing. So do they try to take it back on making more money by increasing the gas price slightly? I'm sure there's elasticity in terms of customer demand versus the gas price. KK: Well the street price is who rules the gas prices, the street pricing. So some people like to bring the customers in by losing money on the gas. James: Oh. KK: Or making less profit on the gas and they want to bring the customers to their lot and then bring them inside to the convenience store where they can make 35% instead of pennies. James: Interesting. I thought there will be some money being made on the gas, but looks like what you're saying is it was so little money, you may not make money or you lose money... KK: I've lost more money because 90% people these days use credit cards. And then on top of that, you end up paying credit card fee as well. James: Oh, so you have to pay, but is the price inside of convenience store slightly higher than what you get from Walmart or Walgreens or CVS? KK: Yes. Yes. That's why they're called convenience stores because they are for convenience. But, yeah. So it's like they have to pay for the convenience. James: Yeah. Which makes sense, I mean, I'm giving you space and the gas for almost all on my costs. Right. And now you come and pay a bit more on the convenience of, probably people don't care because it's convenient for them. That's absolutely right. That makes a lot of sense now because I always wondered this. So, is the gas station business being impacted with some of the electric costs that's being popular nowadays? KK: Well, we never made money on the gas anyways, so I don't think it's going to affect the people still going to buy their food and drinks and chips and candy and the cigarettes. So they do still come. I own an electric car myself but still, I stop at gas stations to... James: Buy things KK: Buy coffee, buy candy, and buy something. James: I think the location of it is much more convenient. I think that's how like even Buc-ee's, I'm not sure whether you know Buc-ee's in Texas they're very big. They have a lot of gas stations, like hundred gas stations outside and it's a big convenience store. KK: Yup. Yup. James: Okay. Okay. That makes sense. Yeah. So it's like a big, slightly more expensive because it's very convenient. KK: Correct. James: Okay. So what about a Laundromat, how does that work? KK: Well, I had this lot sitting by my gas station for a long time. It was a vacant lot and I thought of buying it and utilizing it and this neighbourhood needed a Laundromat. There was a little lot like a block away from my gas station. There was a Laundromat, which were the old beaten up Laundromat, it had like 20 years old machines. So I thought that I can utilize this property and I did some creativity and bank that lot at a very low price. And I built a Laundromat from ground up with the best machines that they come, bigger machines. So immediately after I opened that Laundromat, the other one closed because it was all, nobody wanted to go there. So, and Laundromat is a good business too because you don't need the employees, so it's unattended. So I have a girl that comes in the evening and cleans up and somebody will go from the gas station and clean up or if there's any problems. So this is kind of a passive income. James: So you still have the Laundromat until now? KK: Yes, I do. And we are building another one. James: Oh, that's awesome. That's awesome. So is this the machine with a speed queen? KK: No, [10:00 unclear] machines. James: [10:02 unclear], okay. Okay. KK: We have bigger machines, like 90 pounders, 60 pounders, 50 pounders. Yeah. James: I mean, the reason I ask about speed queen, because in my properties, I'd probably own a Laundromat as well, but indirectly, right, in all our apartments, I think 90% of our apartments, we own our own machines. So, we like to buy new machines, but this is for residential. So it may not be... KK: [10:28 Inaudible] is good too. James: Okay. Okay. KK: But that store is good for Laundromat, commercial and it's very simple to operate, and it's a sturdy machine as well. James: Got it. And have you ever tried to sell these gas stations and the Laundromat? KK: No. James: Okay. So you're keeping it for passive income? KK: I have a system in place and they are an automatic, autopilot, I mean. So, because I have partners in all my gas stations, they run the gas stations and I stay home. James: Okay, good. That's true passive income right. KK: Yeah. James: Now, the reason I asked you whether you sold is because I want to know how this business is being valued. KK: No, I haven't never sold any gas station. I have always bought gas station, and I would still buy a gas station if I get a good deal. James: So if it's passive income, why not you buy nationwide? KK: No, it's not passive income, it's not. It's passive income for me because I have my friends and family as partners who run the businesses for me. It's not passive income and I don't, people call me all the time and ask me if they can buy a gas station and rent it out and make more money than single family or real estate, no, it's not like that. James: So it's not as a, what I'm trying to say I guess is... KK: It's not at all passive. It's just autopilot for me because I've done this for so many years and I have brought in partners and some of them are even my employees that I have partnered with. James: So they are the one who is active and you are investing money and for you it's passive. So it's not really passive income, but because you are a silent partner, you get passive income, I guess. KK: Right. Correct. James: So after that, how did you buy 40 single family residential? KK: Well. the seller was from our community, he met me at the church and he said, I want to sell my property that he had for several years. And I told him that I know somebody in Indianapolis that I can refer to. And he said, no, I want to sell them to you. And I said, no, I have never done this and I'm not going to get into the rental business, toilet and all that kind of stuff. He said, I will give you a good deal and I will teach you for a year how to do it. So that attracted me and I came home and talked to my nephew and at that time I didn't even know about [13:10inaudible] it is. So, I talked to my nephew, we calculated, we didn't get any financials or anything from him and we were comparing, I went online to the city website and check the prices compared to what he was offering us. So I liked the pricing of everything. I said, yes, the very next day I said, yes, we will buy your houses. And we went ahead and bought, we never hired an attorney. We just wrote up purchase agreement on my computer and we bought those 40 single family houses and then he started helping me. But he had done this for about 40 years now. So, but he was all old school, everything was on pen and paper. I didn't like that idea. So I had a lot of other stuff going on. I said, no, I would do it myself. So I bought some books, I went online, did some research and started managing myself and I still manage those 40 single families myself. James: That's a very inspiring story, right? Because where you going from zero to nothing, I mean to learning about how to operate 40 single family residential. So how did you learn to make that business in single family residential from the guy who's selling you, he's old school? So now you are a Microsoft certified system engineer. You are going to think on how to put everything into computer. What was the first website or resource that you used to start managing this 40 single family residential? KK: Well, first of all, I started researching about the property management software and I did some research on the property management softwares and I found [15:06unclear].com the best software for my purpose. And the pricing was good, the features were good. And I signed up for a demo, I took a demo and liked it and I moved all my properties to [15:21unclear] James: I used [15:23unclear] as well for my single family residential, even though I only own like two right now, but we went through a few iteration of property management software for single family and then settled on [15:33unclear], which is pretty good for the single family and [15:38inaudible] management. KK: Correct. Correct. James: So you are in Indiana? So have you ever thought about looking other places for real estate or you wanted to do that? KK: No, I do my multifamily almost, I have one in Indianapolis and all others are out of Indiana. James: Got it. Got it. KK: So, right now I'm doing the 10th view as a general partner and I did seven deals as a passive investor. So all of them but one is in Indiana and all of them are out of Indiana. James: Okay. So I want to go to that transition where you were doing Laundromat, gas station and 40 single family residential, so, how did you get introduced to multifamily apartments? KK: Well, when I bought these single family houses and I went online to, I started researching on bigger pockets and read some books and I realized that it's not scalable and especially there's no tax advantage. That's why we bought these properties. We thought, oh, we can save money on tax. Because we were paying a lot of tax, we had a lot of cash-flow from the gas stations, so we were paying a lot of tax. But with buying single family, we ended up paying more tax because we made more money. So, I thought, no, we were here to save on taxes, so this is not the way to do it. So I started researching and finally as I learned about the syndication process and cost segregation, how people save money on the tax. So we started and I actually started investing passively and never thought I'm going to be active investor at that time because I had so much going on and I have like 15 companies. So, I thought, okay, I will keep doing it. But I'll keep investing my passively and get K-one losses and wash off other passive incomes. That's was my original plan, but when I started learning about multifamily and I learned that I have so much passion about multi-families, so why not do it actively? James: Yeah, no. So I want to go through the thought process here. So, what year was it that you discovered multifamily? KK: 2015. James: 2015, which is like what? Four years ago. KK: Yeah. Four years ago. James: And you say syndication, right? So even when you introduced to multifamily, did you look at buying a multifamily without syndication? KK: Yes, we did. We did four times. James: So you did buy some multifamily without syndication? KK: No, we didn't buy any. James: Oh you didn’t... KK: Because we were thinking of buying the same way we bought these houses. James: Got it. KK: So we didn't even know how to do underwriting, how to calculate the profit and loss. So we thought, okay, we bought these houses for so much and these are like just two room, one bedroom apartments so this should be half the price of the houses. That's how we started and we offered four alloys. First we started with the 32 unit and we went all the way to 96 units to buy, but every time we were overbid by others and we didn't know that we have to do underwriting and all that stuff that I realized after giving four alloys that we, no, this is not the way to do it. We need to start underwriting and they are not priced as the houses are, they are priced based on the net operating income. Then I started learning all that in 2015, and as I was learning, I was investing passively as well. James: Got it, got it. KK: I still kept investing and a couple of my partners started investing along with me too. So, we invested all over the nation in first three years, 15, 16, 17, and in 18 I decided to go at it. James: Why you didn't from single family, you were thinking of buying the large multifamily, which is like 40, 50, no, 90 units, right? Why you didn't look at duplexes, triplexes and fourplexes. KK: Oh, I taught duplex, triplex is the same thing as single family because we had the money, we had the resources, we could get the loan, we had the network, so we thought we can buy 30, 40 units. We never thought of buying smaller properties. James: Okay, so you wanted to go big because you think you can do it. It's just that you didn't have the knowledge on how do people underwrite this commercial properties? KK: And that I learned, that I learned soon after being overburdened, four of those alloy's that we did present. So I decided to learn and then I learned a lot and I attended several boot camps and took some courses, read a lot of books, listened to a lot of podcasts. So actually I had a passion for it. So I was spending like five, six hours a day, maybe even more, maybe eight hours a day. Just learning about multifamily. For six months, I never slept before midnight for six months. James: For six months you didn't sleep before midnight because you were so wowed with this multifamily. KK: Yes. That's when I was learning about it, listening to podcast, every night I would listen to podcasts, read something about it, so I spent a lot of time learning this process James: And you said multifamily was more interesting compared to buying more gas station, Laundromat and the single family because of the tax advantage. That's what you're saying. So you need something to offset your passive business, I mean, active business income, I guess. KK: Well, I had a lot of passive income as well. Because I was not active in all the gas stations. I was passive in some gas stations and we own real states of several gas stations, and those LLC owned properties. And so our operating companies were paying rent to the real estate company. So that was my passive income as well. James: Oh. That's an interesting strategy there. So why not buy like a strip mall or warehouse or industrial warehouse or South storage? KK: I don't like anything else but multifamily. James: Why? Did you look at that [22:30inaudible]? KK: Yes, I did look at it; it's on my criteria as well. The second think I would ever buy would be storing units or the mobile park, but I would never go to commercial or anything because I know people need at least a roof to live somewhere. James: Okay, got it. So you think there's a definite need for a residential? KK: Yeah, because of the technology, you never know. Did you see the strip malls, commercial buildings closing industries, moving to Mexico, China, India and all those countries? But they can't move apartments to China. James: That's right. That's right. KK: But they have to live here. So, that's the only, I get a lot of other offers, but I am very, very strictly multifamily person. James: Yeah. Yeah. So let me give you some education to the listeners. So, what KK was talking about is the tax advantage that you get in multifamily, especially with something called depreciation, which is a paper loss which offset, which shows your income. Even though you're making cash-flow from a positive cash-flow from your operation in apartments depreciation is going to be more, most of the time it's going to be more than your cash-flow, which means you are, it shows as you're losing money, which means you probably don't pay any tax on your cash-flow; and sometimes net cash flow minus depreciation do come out positive, but the amount will be low because now you have depreciation. And in single family residential houses, you still do have depreciation, but it's divided by 27.5. But in commercial, which is apartment, you've either been doing divide by 27.5, you can still do 27.5 but you can also do something called cost segregation, which means they segregate each part of the building and commercial into five years, seven years, 15 years and 27.5 years? They separate the windows to seven years. I don't know what exactly the schedule is, but example windows took seven years, the driveway took 15 years. Frauding took five years. And what they do is they save all this 15 years for all five years, everything is segregated. And all this depreciation is accelerated in the first five to seven years and 15 years. And even the first five years it's like 30% of total depreciation. So, the number of, the amount of depreciation you get in apartments is like, it can be huge because of this cost segregation. And now with the tax law that we have in 2017 from 2017-2023 you have something called bonus depreciation, which means you are going to take all the 15 years schedule of depreciation, you're going to depreciate it in the first year, which used to be only available for new development. Which makes sense, new developments; everything done you'd appreciate 15 years into it. But now the new tax law have given leverage for the properties that has already been built. But this advantage only available until 2023 and after that it starts reducing to 50% instead of a hundred percent depreciation become 50% and depreciates less, and in other commercial real estate, like strip centre and warehouses and all that, is not depreciated by 27.5, it's depreciated by 39 years. So you can... James: 39 and a half? KK: Come again. James: 39 and a half. KK: 39 and a half. Okay. Thanks for clarifying, I thought it's 39. So 39 and a half, and what happened is you get much lower depreciation, they can do also cost segregation, but you know, you're going to get less number. And it makes perfect sense for farmers because of the Maslow hierarchy of needs as well. Everybody needs a shelter to stay. And especially because of those appliances they have, the kitchens, the counters, kitchens, fridge, the microwave and the stove, those things get depreciated in the very first five years. And you can get all that in the very first year. James: Yes, yes, correct. Correct. So that's an awesome tax strategy in apartment and that's what we call this multifamily apartment. So let's go ahead. So, you said you started learning how to value the apartment and at 2015 you learned the trick about how to trade. So, why not at that time you go and buy apartments, why did you go passive? KK: Well, at that time I was still managing the Laundromat and one gas station myself. And after about two years in 2017, my son-in-law, my daughter got married in 2015 and her husband came to United States in 2017. I asked him, he was a competitive engineer too, I asked him what he wants to do and he said I want to be in the business. He owned a gas station in Canada as well. So he migrated from Canada. So he started doing what I was doing. So, I was only managing these 40 single family houses and most of my stuff was on autopilot, so I had nothing else to do. I decided to go active. So that's when I started looking to do syndication myself. James: Okay. No, but my question was, like I mean after you learn all the tricks on how to underwrite multifamily, right, why did you still go with a passive investment KK: That's why, because I was busy managing my gas station, single family houses and Laundromat myself. James: Oh. So, now your son-in-law is taking care of that, now you, okay. Got it. Got it. Got it. Now you have all the time to really be an active sponsor, I guess. KK: Correct. James: So, okay. Okay. How did you make that transition from being a passive to active? Because that's a day and night skills. KK: And you should know that too because you are sitting on this side right hand side and Jeff Green well he was sitting on my left hand side and San Diego mastermind. James: Oh, I must have influenced you. KK: Yeah. Something came, I pulled some of your power and Jeff offered me to be a general partner on his deal. James: That must be my [29:08inaudible] KK: Yeah. So I said, okay, I will be your general partner. I raised money for his deal to close. So that was my first transition and I was so much motivated by meeting all those people that like the mastermind in San Diego last March when I did the deal. James: Yeah. That's very interesting. Sometimes this mastermind brings, the proximity is power. You have people who are doing it and you know that you can do it if you have the right support. And sometimes, certain words and certain discussions can motivate you to progress. So it's very, very powerful concept of mastermind. Sometimes people thinks that you go from mastermind, you are wasting time. You're talking but there are always influencers, especially in a small setting compared to going into like this large conferences where you go and just network, right. This is not so contagious, but in a small group setting, it can be contagious and that's good, so you are able to, yeah, I know when we were in the mastermind we were talking about, you are passive and I didn't know that was the time that you were transitioning. You decided to transition from GP. KK: That same day I did it and he emailed me all the information and when I was coming from San Diego, I was looking at the costar report, underwriting and everything on the plane from San Diego to Chicago all night. James: I have to give credit to myself too. KK: Yeah. The credit goes to you too. James: That's good. That's good. I hope so. I mean, I'm sure you would have some calling to or for you as well. But I've been, I'm happy to help out as well. So, KK, what was your discovery when you, from a passive investor, I mean, you were of before, let's assume that mastermind was a transition period. At that point before that you were a passive investor, your mindset is completely different. You just want to invest passively. You didn't want to do any active role, maybe its fun, it's interesting, but you just didn't want to do it. But once you step over into the GP side where you partner with another sponsor. So how do you think your mindset has changed from passive to become an active? KK: Well, my mindset changed back in 2017 because I had learned so much. I was thinking, why don't I put all this knowledge to work? Why I am just investing passively. But as I told you that when he took over, so I was completely free. And I stayed home and there was not much, and I have so much of my single family management on autopilot that I spend about nine hours a week. So I had nothing else to do, and I decided to move on to, and I started looking on deals before my mastermind, I did start looking deals and I did some [32:19inaudible] the properties and I did give some alloys as well, and I learned the business practically by doing it. And then it was, I think a miracle happened when you did something at the mastermind that I got a deal. And I also learned that it is teamwork. It's not something that I can do myself. It is teamwork. So I think that was a great opportunity for me when Jeff offered me that deal and they were in, they were very close to the closing. So, I raised the money in about three days and became a member of his asset management team where I learned a lot as well. And after that I did a one deal with Radcliff and Robert in Lexington, Kentucky in May, we closed that in May and now I'm a general partner on a deal with Viking Capital on a 92 unit, a B class asset in Marietta, Georgia, North of Atlanta. James: Got it. So let's assume KK, so now you have moved to become more on the active side, right? Part of the asset management team. So if I split you into two, your best friend is your older, KK Singh as the passive investor and now is the right one. The right side, KK is the active investor, what would you turn to your passive investor, best friend and say what are the advice that you want to give to your KK Singh a passive investor on how to invest smartly as a passive investor? Since now you know both sides. KK: Well, even when I was a passively investing, I was learning continuously because the very first deal I didn't know much about multifamily. So I just invested to see how it works. So I just wrote a check to Ivan Barrett for 50,000 and I invested in his deal in Dayton, Ohio, but after that I realized that I need to learn about the passive as well. And I like reading a lot, listening, and reading and so I started learning how to invest passively and I prepared a list of like 42 questions, which I was asking. And then I started investing with Joe [34:53inaudible] in his deals in Dallas and I didn't want to put all eggs in the same basket. So I tried some other syndicators other markets as well before I finally decided to go active. James: Got it. So, out of that 40 questions that you have in your passive investor checklist, and don't worry, I'm not going to ask you to do all the 40 questions, but is there any like five to 10 questions you think all passive investors should ask before investing in any deals? James: I think the most important thing is in this all the syndication process is the operator. So I always even tell my investors the same thing that I did myself. I always looked at the operator. Who is the operator? Who is their team? Do they have an office? Do they have a complete set up? And then do they have a track record? Have they gone through a full cycle? So I always look at that first, even as a passive investor, even as a general partner, I do the same thing; and the second thing is the market. What market is the property in? So does that property market have a rent growth, continuous rent growth? Does that market have a continuous population growth? Are the companies moving to that area? Is it a bigger like population over 200,000? I don't invest in smaller cities. So those are the second things, and then I move onto the property. Is it really a value added property? Every property sale, value add property, sometimes there's no value at all or there is no rent growth. I have seen like people wrote, right, 300 rent bump. Do you think the previous owner was dumb? So he was $300 below market. It doesn't happen all the time. So I prepared a list of questions. I learned how to do all the comps, sales comps, rent comps, and I do get my investor do the same thing as well. James: Got it. So what you're talking about is operators, the second is the market, third is the deal, which is absolutely the right priority. So let's say for a new passive investor, how do they find about, before we go there, can you define what's an operator is? KK: Well operator is the guy who finds a deal, brings it under contract, signs the loan or brings the team together, or if they already have the team, and then after the closing they operate, they make sure they are performing as for performer, the property management in place is working, doing a good job. And they are giving the reports quarterly or monthly, whatever information to the investors and also paying the investors as promised. James: So how can a passive investor know about the operator? I mean, without asking the operator directly because sometimes it's hard to know. I mean, as I say, a new passive investor comes, sometimes they are very shy to ask a lot of questions because they are worried that they will not get into the deal. But is there any other way that a new passive investor can find out about the operator without asking the operator directly? KK: Well, they shouldn't be shy. I even asked the operator if you die, I go that far, if you die. James: Absolutely. KK: Yeah. I mean, I don't mind if somebody asks me if you die, where are we going to ask for our [38:57inaudible] or money? I mean, it's obvious if somebody could die in a second. Yeah. So there has to be some things in place that if somebody dies who's going to take care of. So I think that should be and I have uploaded those 42 questions on my Tenex Facebook group several times and Radcliff has those 42 questions on his website. I think passive investors should download there as well. But I can tell you how people find me. They follow me everywhere on social media. They check my profiles and they listen to my podcast and then they approach me, oh we know you for a year or two; I saw your video live or podcast. So they probably know everything before they come and contact me unless they are referred to me by someone who is already in my investor or my friend. So they trust me too. James: Yeah, I mean that's true. I mean once you are... KK: I'm very active on social media so people know what I do. James: Yes, yes, yes. Correct. Correct. Correct. So what about market? Can you tell the audience, especially passive investor, any specific resources they can go and see before investing in the market? I mean, I know you said you do not want smaller cities, you want big cities, but what else they should look for in a market before they even invest even passively? James: Well they should, first of all, we talked about the operator and then the market research is very important. They should look at there are so much free services available, ctdata is one of them. James: ctdata.net? KK: ctdata.com James: dot com, okay. KK: Dot com and they can go there at least or just write down population and there will be a population of so and so city. They'll get so much information and there's another world review website that it will automatically pop up under the CTdata and you can go there, research the market, sub-market and even the neighborhood. James: So have you seen any deals that was presented to you as a, I mean when you are a passive investor, when you presented to you that you think are this guy, he didn't underwrite the deal as conservatively as he is claiming. I mean, everybody claims their underwriting yes. KK: All the time. Right. All the time. James: It's like a value add. Right. All deals are value add. Same thing, all lead sponsors, all our sponsors are saying all their deals are written conservatively, they fill up quickly. KK: Some people are very smart to write their OMs and they'll write it in such a way that a passive investor who's not very literate about the multifamily. And if they don't have time to do their own research, they can fall in that net very easily because they are written so smartly. So they don't understand. And they don't spend much time either. James: Yeah. But how do you, can you give us a few example where you were able to cut some, I would say... KK: The biggest one is the comps. James: It's the comps. Okay. KK: And the second thing is the rent growth. Sometimes they'll write 3% rent growth and they will say, oh, it's very conservatively written. And I have been managing these houses since 2014 I have never seen 3% going up every year. I mean there has to be some year when it's going to be down, it might go up to 3% again, but all five or seven years or 10 years, whatever the whole time is. They don't go up all the time. And another thing is the vacancy. A lot of times they will write the vacancy or we can, we're going to have it 95% occupied, but when you look at the four star report or others resources, the market occupancy is at 90%. So how can you do it 95% if the market is at 90%? So some of those assumptions they make are sometimes very aggressive. James: So you say rent comp, and use also talked about the comps? So you're talking about the rent comp that they are projecting? KK: Rent comps, rent comps, they are projecting this and sometimes I've seen on the OMs, they are not comparing apples to apples. They're comparing one bedroom to three bedrooms and then they'll say, oh, there is a threat, $315 rent bump. You're not comparing apples to apples. James: Do you think they make a mistake or they just...? KK: They intentionally do it and nobody can challenge that either because they don't, they say nothing there that it is three bedroom compared to one bedroom. So that OM doesn't say that we are comparing one bedroom. It's just going to say that apartment has this rent and this apartment has this rent. And they'll show you that there is a $300 bump which is not true. So far, I never seen a bump more than $150. James: And even 150 is difficult to get, so yeah KK: No more than $150. I have seen up to $150 which is also, as you said, by renovating, adding like $500, $600 to the unit, you might be able to raise the rent by a hundred or $150 maximum. James: Very interesting. So was there any aha moment as a active sponsor, as active person, more on the GP side now that you think like in the past six to eight months that you think, oh, I've learned something new about multifamily. Can you share it with the audience? KK: I always learn every day, every day I get some new experiences. I learned new things from sometimes even from people who know nothing about multifamily, but sometimes they teach you with, and I am very motivational and I'm motivated myself. I try to motivate my members in my Tenex group as well. Like every day you learn, in this business, every day you learn some thing new. James: So, I mean, so you had been pretty successful in investing into multifamily and now you're going more into the GP, so what do you think is the most I would say secret sauce to your success? KK: First of all, and I would also suggest to your audience, which I didn't do, but I didn't have to pay the price, but somebody might end up paying the price. I would say invest in yourself, that means learn the process yourself before you invest in any real estate, it could be single family, multifamily, any kind of real estate, do your homework first and don't be scared to spend some money on yourself, your personal development and learning and boot camps. Those are really helpful and I will, when I started learning at bigger progress, bigger progress always said that you don't have to have a coach, you don't have to attend any boot camps and everything. But when I got out of that mindset, I said, no, I got to go checkout some boot camps. It doesn't matter if I have to spend some money. And I realized that I learned a lot, I got motivated a lot. And also when I was holding myself accountable to do something. So, it's before that it was flow free flow. So, whatever I could do, if I got a deal, I would go ahead and make an appointment. Go look at that deal and end up there. But I think these things help, these Facebook groups, these masterminds, these boot camps, there are all these real estate, multifamily events, all of them help. James: Got it. So it helps in terms of giving you some guidance to move ahead or give you some motivation or how does, or give you some knowledge? KK: So, as long as you have knowledge, you feel very comfortable doing something. James: Got it. KK: If you get out of your comfort zone and have knowledge and once you have the knowledge, you feel very comfortable doing anything. If you don't have knowledge, you always in fear, you get scared, or what if I do this? What if I can't raise the money? What if I, so there's lot of questions. Once you have the knowledge, you know that you will be able to do this. If you have a good deal, the money will come. And I hear a lot of people saying they're on Facebook as well, that a lot of people say that if you have a deal, money will come. We have a deal, but we can't raise the money. So that means something is wrong with your deal. James: Especially on this market cycle, where there's a lot of capital chasing the small number of deals, the true deals, I mean there are a lot of deals, but most deals are 98% of the deals doesn't really underwrite well as what it used to be. KK: I was looking at underwriting yesterday, this property had since 2015, the occupancy is 60,000 and all of a sudden now it's on sale it's at 90%. I looked at the costar report. I said what? Within the last three months, it went up to from 60% to 90%. James: Hey, hold on, hold on, hold on. KK: Okay. I looked at this deal yesterday and since 2015 I looked at the CoStar report and since 2015 the occupancy was at 60% and then the last four months it went from 60% to 90% because now it's on sale. James: On sale. Yeah, correct. Correct. You have to be very, very careful about these kinds of deals. I mean, unless it's an experienced operator, you are ready to go and turn it around; otherwise it's just going to be difficult to once you take over. KK: And I think they already offered a little bit more money, but now the broker wants them to raise their price. I said, don't even raise a penny. Whatever you have offered is already on the higher side, but a lot of times they want that kind of money and they can get, because somebody else will pay. And I told this guy that somebody else will pay more, but they're going to be in trouble. James: Correct. Correct. Right. I mean, market is saving a lot of people out there right now. Right. People have all paid in bills and made a lot of mistakes in the underwriting. But market has been saving a lot of them for the past nine years. I mean, a rising tide raises all ships, so it's okay to make mistakes now, but it may not be okay when the market turns. Because now you'll see who is in trouble once the tide comes down. So, you have to be very, very careful right now KK: The market is at such speed now, tending to slow down. So it, people should be very careful and they should do their sensitivity analysis as well. Do the stress testing on their deals to make sure that they will survive if the market sort turns a little bit. James: So KK, can you, is there any proud moment in your life, in your business life that you think you cannot forget? That's going to be that if you really think you know, the next 10 years, one proud moment that you think that you always really proud that you did something. KK: I think I have been always proud of what I did because I do my homework before I do anything. I've spent a lot of time researching when I built a Laundromat. I had spent about a year the same way and I am very proud that I spent that time and I'm making a lot of money on that Laundromat and it's a very successful business. James: So you do, I mean, you're proud that you're doing a lot of research before you entering into a new venture. So... KK: Correct, correct. James: And if you want to let our audience know how to find you KK: Oh, I am very easy to find. They can go to Facebook and I have a Facebook group, Tenex multifamily investment group, and we have a little over 3000 members in about six months. I think we started the group at the same time. James: Yeah. You started late but you are slightly ahead of our group right now. KK: Yeah. And that's where they can find me. They can ask me questions and every Tuesday I have a zoom calls where they can come and join us and learn something, network. And they can ask me questions as well face to face, every Tuesday, nine o'clock Eastern time. And the zoom link is always in the Tenex Facebook group and then they can reach me through our website as well growrichcapital.com, or they can call me on my cell phone, 260-341-1964. James: All right, sounds good. So KK thanks for coming for the show. You add a lot of value. I like to, I mean I think I really found a lot of nuggets because you moved from different, different businesses to multifamily. I think that was very helpful because a lot of listeners could be doing other businesses and always wonder why not that business, why not this business? Right. And then why multifamily? So you, I think you summarize it pretty well and I think you, I think I did get a golden nugget of a few golden nugget when you move from passive to active, right? And how that transition worked out and your thought process when you go to that whole process. So appreciate you coming on board. Thanks for coming and that's it. KK: Thank you very much for having me, James. James: Yeah, most welcome. Thanks KK. KK: Love to be back on your show again, sometimes when I'm a bigger syndicator James: You are already a big syndicated. Thanks KK. KK: Thank you. Thank you.
Today, it can be quite easy to manage many big or small business even with a few staff or managing team on or off site. Kay Kay Singh, a Microsoft Certified System Engineer turned successful entrepreneur and multi-business owner, talks about his business adventures and how he ended up owning multiple and multifamily businesses. He shares how he has promoted growth to his ventures including the skill of delegating and what lessons he has learned on the path of delegation of authority. Kay Kay also touches on his own keys to success in asset and construction management, and shares how he has acquired his gas station business.Love the show? Subscribe, rate, review, and share!Here’s How »Join the Passive Wealth Strategies community today:passivewealthstrategy.com
Bulletproof Cashflow: Multifamily & Apartment Investing for Financial Freedom
Kay Kay Singh started investing in gas stations, laundromats, and single-family homes to reduce his taxable income. Then, he turned to multifamily to syndicate deals, scale his business, and enjoy the tax benefits. He founded his own firm, The Grow Rich Capital that allows high net-worth individuals to invest passively in income-producing multifamily properties in the best-emerging markets throughout the United States.
Here is some of what you will learn: Empowering your TeamGetting Started in Passive InvestingQuestions to ask a syndicator before you investYield vs Value Add multifamily investmentsWhere to find city dataSpecialists vs Generalists To find out more about our guest:http://growrichcapital.com To find out more about partnering or investing in a multifamily deal: Text Partner to 41411 or email Partner@RodKhleif.com Join us at a Multifamily Bootcamp, visit: http://MultifamilyBootcamp.com Review and Subscribe
Kay Kay Singh owns multiple business and has a real estate portfolio of 40 single family homes and over 2500 multifamily units. FREE DOWNLOAD - The Top 7 Key Market Drivers for Real Estate: http://www.sethferguson.org/free-report/ Connect with Kay Kay Singh: http://growrichcapital.com Connect with Seth Ferguson: http://www.SethFerguson.org http://www.ALBACapitalGroup.com
There are several niches in real estate you can focus on. One of those that Kay Kay Singh found to be where his passion lies is passive investing through syndication. Kay Kay Singh is the CEO of Grow Rich Capital. He has over eighteen years of business experience in the US with multifamily syndicated deals […]
Kay Kay Singh, gives back in a huge way and shares his story on what has worked. Buy and Hold, Networking and Investing in yourself. Great Interview and Very Motivational on what is possible.
Krishan (Kay Kay) Singh started in the tech industry, but lost his job after 9/11. From there he got into gas station ownership but decided that, while it was a good investment, it wasn’t what he wanted to do with his time. He started in Real Estate renting single family houses, but has since moved into multifamily in the TX, OH and IN markets. He speaks with us about getting into real estate, syndication and his criteria for a good deal. Kay Kay's Investment Criteria Top 10 Gas station business Making the move from India Accidental Landlord Income vs Expenses Moving from Houses to Multifamily Investing in Syndication Ramping Up Mistakes Made Criteria for Investment Success Finding Syndicators Passing the Real Estate Torch And much more! Register on the investor portal and fill out the investor portal form: Create an Account – Rand Partners We want to see you at the October 6-7th Multifamily Mastery Live Event in Nashville, TN! Email Gino at gino@jakeandgino.com for a coupon code to save a little $ on your ticket price! Reserve your seat for Jake and Gino Live Event 2018 Learn More About Our Mentorship Programs
Kay Kay came to the U.S. to pursue the American Dream and work full time as an engineer for Microsoft. Unfortunately, he lost his job, fortunately he found a great business in the gas station niche. Kay Kay grew that portfolio to 15 gas stations before being approached to buy a 33 unit portfolio of single family homes. If you enjoyed today’s episode remember to subscribe in iTunes and leave us a review! Best Ever Tweet: “Cash flow is good” - Kay Kay Singh Krishan Singh (Kay Kay Singh) Real Estate Background: Came to US as a Microsoft Certified System Engineer Shortly after arriving in the US, he was in the gas station business and grew to 10 gas stations in 15 years Real estate career began when a church member offered him a portfolio of 33 SFR’s Based in Ft. Wayne, IN Say hi to him at hoosierrentalsAThotmail.com Best Ever Book: Multi Family Millions Get more real estate investing tips every week by subscribing for our newsletter at Made Possible Because of Our Best Ever Sponsor: List and manage your property all from one platform with . Once listed you can: accept applications, screen tenants, accept payments and receive maintenance tickets all in one place - and all free for landlords. Go to to get started today!
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