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Hello, and welcome back to another episode! Today, we have an extraordinary guest with us. This gentleman holds not one, not two, but three master's degrees—a remarkable feat, considering I never even went to college!
The Journey to Television Stardom
Our guest, Chad Zdenek, joins us from sunny Southern California. With a portfolio of over $85 million in real estate deals, he specializes in multi-family and self-storage investments. Notably, he has expertise in limited partner investing (LP) as well. Chad's real estate journey started about seven years ago when he felt the pull towards a more sustainable and passive income stream compared to the intensive hours of running his lighting business.
Engineering Background and Real Estate Synergy
Chad's background in construction and structural engineering made real estate a natural fit for him. He saw the potential for passive income and tax advantages that real estate offers, and it became clear that this was the path he wanted to take. The ability to leverage real estate investments, coupled with the potential for cash flow, motivated him to make the shift.
Diving into Syndication and Expanding Horizons
Chad's first foray into real estate syndication was impressive. He initiated a solo GP deal for a 10-unit apartment building in Long Beach, raising $1.2 million for a $2.5 million project. Subsequently, he partnered with like-minded individuals to tackle a substantial $53 million apartment building project in Orlando.
Pivoting the Business and Capitalizing on Opportunities
The current real estate market may be tumultuous, but Chad sees opportunities in this environment of fear and uncertainty. He emphasizes the importance of adapting and being prepared for market changes. Currently, he focuses on value-add properties, where strategic renovations can significantly boost returns.
The Boom of Short-term Rentals
Chad has also tapped into the flourishing short-term rental market, converting small multi-family properties into STRs. While the market is experiencing an explosion in popularity, he advises caution, as it may not suit all locations. However, if executed wisely, STRs can lead to significant cash flow boosts, especially in suitable markets.
The Power of Networking and Mentoring
Chad highlights the significance of networking and working with mentors. Early on, he found that focusing solely on education wasn't enough. Engaging with experienced individuals allowed him to gain trust and fast-track his learning process. Building relationships with mentors and peers opened doors to new opportunities and partnerships.
Chad's Vision for the Future
With a thriving real estate portfolio and a commitment to educating others about passive income, Chad aims to continue growing his business. He envisions building a diverse and robust portfolio and influencing more people to consider alternative investments beyond traditional savings accounts.
Conclusion
Chad's journey from an engineering background to a real estate guru and TV star is inspiring. With his diverse expertise, strategic investments, and passion for educating others, Chad is making his mark in the real estate world. As the market fluctuates, he embraces change and uses it to his advantage. Undoubtedly, his story serves as a testament to the power of vision, adaptability, and seizing opportunities.