From Soccer Coach to Asset Manager : Acquired 2600+ Units Worth $155 Million - Chris Grenzig Episode #81

GUEST BIO Chris Grenzig is an asset manager of Toro Real Estate Partners. Before he was involved in real estate, he took a job as a soccer coach after he earned his bachelor degree in business management. When he realized that he missed New York, he went back and after realizing that coaching was not the best fit for him anymore so he went on and took another job as a cold caller in a stock brokerage company. He quickly realized that being in the stock brokerage game didn’t bring much fulfillment. He also quickly realized that the products he was selling - he wouldn't sell to a family member. Unlike the investments that he does in multifamily today. Join us today as he shares value with the community and describes his transition dating back to trying to flip homes back home to coaching soccer, to working on wall street to finally making it to fulfilling the position as the asset manager that he is today. FOUNDATION 02:10  Background of the guest - Chris Grenzig 12:14  Finding somebody who’s already doing it, and doing it successfully 17:58  Difference between learning theoretically from boots on the ground 21:12  Transitioning from 8 units to bigger units - Cap Rate 25:02  What makes something a good asset 28:19  Discount factors 32:31  What is an asset manager 37:10  Different roles of an asset manager 39:50  Relationships between GP, asset manager and syndicator when raising capital 45:47  Experiencing different things in a company 49:40  Exit strategy for business plan KEEPING IT REAL 57:45  Biggest misconception that most people have 1:01:37 Worst advice received ANSWERS TO THE RAPID FIRE QUESTIONS IN THE SHOW: 1:06:44  Favorite thing to do - Underwriting a new deal 1:07:21  Best Habit - writing things down as reminder 1:07:45  Best tool - monday.com 1:08:17  Favorite influencer - Garyvee 1:08:50  One 300 unit apartment vs 3 apartments of a 100 units - 3 apartments 100 units 1:10:39  Class A or Class C - Class C 1:10:59  Self managed or Outsource - self managed 1:12:05  One super power 1:14:24  Describe a successful investor NOTABLE QUOTES (KEY LESSONS): “If you’re somebody that’s doing it at least moderately well, it's better than not knowing what we’re doing at all.” “Make the mistake, learn why it’s a mistake, and then do your best not to replicate them again.” “ What we are really dealing with is basic Math, adding, subtracting, dividing and multiplying, but it's about getting the right information and plugging the information into areas that make sense.” “Real Estate in general is a long game, it’s a game that also takes money” CONNECTING WITH THE GUEST Website: www.tororep.com Podcast: www.thereiexp.com/podcast Facebook | Instagram | YouTube | LinkedIn #ExperimentAssestManager