Even the most successful W-2 workers can find themselves trapped in toxic work environments that affect their wellbeing. For Chris Soignier, today’s guest, real estate investing was a way for him to earn the financial freedom to live a more balanced life with his family. We talk about how Chris left his 20-year corporate career to become an investor within only a year of discovering real estate. Now, he’s a passive investor in 27 multifamily syndications. Chris shares his motivations for leaving his job and how reading Robert Kiyosaki inspired him to leap, feet-first, into real estate. We discuss his start in investing and the sacrifices that he made during this transition, including how he sold his BMW M3 to finance his projects. Chris opens up about his first real estate lessons and that, although he was financially astute, marketing was an unexpected skill that he needed to learn. He tells us about his first deal, how to make sure that your first investment is the right choice for you, and how he tracks how his many deals are performing. Near the end of the episode, we ask Chris which investing tool he can’t live without, his biggest mistake, and what he needs to do to grow his life and career. Chris’s journey into real estate is filled with insight and advice. Tune in to learn more about his investment career.
Key Points From This Episode:
- Chris’s path from working in the corporate world to becoming a fully-fledged investor.
- How Robert Kiyosaki’s CASHFLOW Quadrant inspired Chris’s leap into real estate.
- Being creative with your finances and assets to finance your first investing steps.
- How his previous career working for Dell benefited his real estate business.
- The importance of marketing within real estate; a skill that Chris had to learn.
- How investing has given Chris greater freedom over his finances and time.
- Risks that Chris took to land his first multifamily deals.
- Chris’s advice on making sure that your first investment is the right choice for you.
- How Chris keeps track of all of his investments and focuses on the high-end numbers.
- Why you should always vet your sponsors; Chris shares a story about a bad sponsor.
- Why Google Drive and Evernote are Chris’s top real estate tools.
- Hear Chris’s private lending horror story and why you should never let your guard down.
- How Chris wants to grow his business and how he likes to give back through mentoring.
Links Mentioned in Today’s Episode:
Passive Income through Multifamily Real Estate Facebook Group
The CASHFLOW Quadrant: Rich Dad's Guide to Financial Freedom