Mon, 7 March 2022
#405: Investing While Working Full-Time, Cincinnati Real Estate, and so much more!- with Jay Balekar
Jay Balekar is a Real Estate Investment Expert.
Jay is a principal at Compounding Capital Group, a private real estate investment firm that operates more than 5,000 multi-family units in 14 cities, across 8 states.
Jay is a successful business and technology leader with roots in technology consulting. Jay started investing in real estate in 2015 to diversify his investment portfolio. Jay grew passionate about real estate after doing his first few multi-family repositioning deals after realizing the true potential of real estate to create generational wealth, passive income, tax benefits, and a positive impact on society by providing people the most basic need of housing.
“One thing I realized was when you actually work as a team, you’re not doing everything yourself…everything is shared which is the biggest benefit when investing together with other people. In retrospect, if there is one thing I could change, I would probably start investing in a group with other people earlier than I did.”
“The lessons learned in any heavy-lift type of project is that whatever you estimate the rehab cost is going to be, just assume it’s going to be 2x…and have enough money raised.”
02:22 - Jay tells listeners more about his background in real estate and his first major real estate investment.
06:32 - Jay dissects how he moved forward after his first major deal and after having no more capital to invest.
08:20 - Jay discusses the challenges he faced during his first renovation project.
15:07 - Jay talks about the lessons he learned that he carries with him into new investments.
16:37 - Jay provides insight into self-management investments and why his company decided to go vertical instead of outsourcing property management.
21:10 - Jay discusses benefits and opportunities within the Cincinnati market and why he invests in it.
23:33 - Jay dives into the real estate team he put together and everyone’s role.