Our guest today is Javier Hinojo, an investor who went from 0 to multiple multifamily properties in less than 5 years. If you are an investor who’s just getting started and wants to know what your REI journey could look like or you're ready to jump from the single-family space into commercial real estate, Javier has a ton of great information to share with you! Learn more about Javier and his journey at reiclarity.com!
“Just follow a proven system, find somebody that's doing it, then do what they're doing and actually do it better.”
Javier started his investing journey through the Rich Dad, Poor Dad seminar that he attended with his friend. He already made his first deal halfway through the seminar with his partner.
Soon they were doing 50 flips and 80+ wholesales a year. According to him, you don’t have to reinvent the wheel in real estate, you just have to find a mentor and do what they do the best you can. Don’t be afraid to take risks.
“I felt like I was scaling to unhappiness, and I couldn’t do that.”
Javier talks about the pros and cons of flipping and wholesaling.
Eventually, Javier realized, that he wanted long-term wealth for himself and his family. He sold his single-family portfolio and started buying apartment buildings. His first deal was a 63-unit multifamily.
“The biggest thing in a partnership, just like in a marriage, is that you got to set the expectations upfront.”
Javier’s advice on how to build your strategy when you’re transitioning to commercial real estate:
Javier’s last investment was a 116-unit mobile home park that’s worth around $4M. With the purchase price and the value-add moves, it costs around $1.4M-$2M, so it was a great success for Javier.
His advice about mobile home parks is to always go bigger because those have better loan options. Also, to find a very good deal, so even if things don’t go as you planned, you still make money.
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Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.
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