David Choi - Real Estate Investor

It’s easy to create millions when you solve million dollar problems 💰 This owner wanted to sell the property but pass down his business to his children and grandchildren. The hassle of finding a new space to run the business post-sale would be a nightmare for him and his family… So we struck a deal where he’d be able stay in the building, run his business, and also allow him to have a capital event that would fund a nice retirement. 🏖️ In the CRE world this is called a sale lease back. 💥 It’s important to note that when structuring a sale lease back you need to mindful that the more the seller pays in rent, the more you can pay for the property (and vice versa). BUT you also don’t want to pay too much for the property and charge rents that the market won’t support in the event the business left. 🚫 In these types of transactions you need to build MASSIVE trust. You’re not just buying their property, you’re going to be entering into a 5-10 year relationship as landlord and tenant. This is why I love real estate. You solve problems, make life long friends, and make millions while doing it ! 🤝 . . . . . hashtag#salescall hashtag#coldcalling hashtag#coldcaller hashtag#howtosell hashtag#salesman hashtag#leaseback hashtag#realestateinvesting hashtag#realestateinvestor hashtag#realestateinvestment hashtag#howtoinvest hashtag#newjerseyrealestate hashtag#realestatenj hashtag#newarknj hashtag#phonecall hashtag#virallll

Every opportunity has countless ways you can approach it 💯 If one strategy doesn’t pencil out the way I’d like it to, that means I don’t have to walk away from a good opportunity I can just come at it from a new angle 💪

Behind every acquisition negotiation is a deal that makes sense FINANCIALLY 💯 Deals with big numbers may seem impressive… But they don’t mean anything if the margins aren’t carefully thought out 💭 In this existing multifamily building, the temptation is to demo the current structures and rebuild self storage… But due to the current zoning, lot size, set back requirements, and height restrictions we may not be able to build enough square footage to make it worth our while That means the ENTIRE deal is going to hinge on whether or not we’ll be permitted to build at a particular height 🏢 Don’t let the $6,000,000 fool you: a deal has to be a DEAL, no matter the scale 🙏 . . . . . #realestateinvestor #realestateinvesting #underwriting #howtounderwrite #coldcalling #acquisitions #realestatedevelopment #newarknj #developers #realestatenj #newjerseyrealestate #industrialrealestate #commercialrealestate #phonecalls #fypppp

Sometimes the stars align and you lock up a deal on call #1 💥 Sellers come to you with all sorts of situations. Wanting to retire, wanting to roll over their investment dollars... But in every situation, they have awfully big ideas on what they think you SHOULD pay them This phone call was 20 minutes, most of which was my seller talking about suing past business partners and how strong his building was... But I was confident in my numbers. I knew what my limit was, and any story he told me wasn’t going to change that 💪 And soon after, a $1 million dollar deal was locked up in 20 minutes. Not too shabby. All Glory to God 🙏

Million dollar deals call for million dollar solutions 💰 When I called this seller, he was reticent to get rid of his property… He liked the cashflow and didn’t want to lose that source of income ❌ Due to the massive tax burden he’d face in the event he sold, he was stuck at an unrealistic price. I could have stopped there, but instead I leaned in. I wanted to listen actively and offer a solution that spoke to his specific needs By offering to help him defer his capital gains liability and find safe cash flowing assets to facilitate his retire And now we’re one step closer to making this deal happen in a way that benefits us both 🙏 . . . . . . #realestateinvesting #realestateinvestor #coldcalling #howtocoldcall #howtosell #salesman #acquisitions #realestatenj #newjerseyrealestate #realestatenewjersey #newarknj #wholesalerealestate #wholesaling

Creative financing really is the key to unlocking INFINITE potential deals. It’s the type of tool you add to your arsenal to make yourself an incredibly flexible and dynamic investor 🙏 #realestatefinancing #creativefinancing #njrealestate #salescall

I spent 10k for a fitness coach. It’s a lot of money to lose weight right? 💰 Wrong ❌ - i had to ask myself what I value. 🏃‍♂️ I value my energy. 📈 I value performance. 💪 I value feeling great. Heres how I financially quantified why this was a great investments. 2023: 50% of the year I feel a 5/10 in energy. 50% of the year I feel 9/10. My weighted average energy level is Level 7 energy If I can consistently stay at a Level 9 I’m able to increase my output by 30%! If my time is worth $400 an hour and I work 80 hours a week. I’m making an extra 500k this year on a 10k investment. 💰 One hell of an investment. As a finance nerd & Asian lol… I really had to quantify this before spending the money. It’s been three weeks and I feel like a spring chicken. I’m excited to get absolutely shredded and make more money than I ever had this year. 🙏

@imvarsityparker Hahahahah pm and I’ll tell you 😂

@davidchoibiz 👀 I think we need to know who that title company is

If you’re a real estate investor you need to hear how my one of best deals turned into my worst overnight. Two years ago I bought a 6 family in NJ. 550k purchase 100k renovation 1.15m ARV 13.6% Yield on Cost We evicted, renovated, and leased up over a 7 month period. Fully stabilized, we ordered the appraisal & submitted the full package to the lender. I was expecting to refinance my initial equity investment + pull out an extra 150k in proceeds tax free. Two week before closing, I order my title binder to find out…. I DONT own the property!!!!!!! Turns out the seller’s lender had a non-judicial pledge of shares clause (which allows the lender to foreclose on the LLC & skip the foreclosure process) in the loan documents and they exercised their right to take back the property the day before I bought it. My title company neglected to make sure that the seller still owned the LLC prior to closing. I’ve been in a litigation for over a year and I’m finally getting to the finish line. I’m unlikely to get paid any damages despite the title companies negligence. According to the American Land Title Association, your chances of collecting on your title insurance policy are just 7 out of 100. In other words, title insurance companies pay out for claims only about 7 percent of the insurance premiums they collect. Everyone knows how important lenders, investors, and attorneys are but they often neglect one of the most important players: title company. If you’re buying a property from a seller in default, make sure you double check that they still own the property before you close! (And yes I did fire that title company)

@CaseyMericle 1- 20mm multifamily in the NJ / NY & 1-4 family & land in North Jersey

Lets start off with a bang💥 Reply back with details on a property you’d like to buy or sell in 2024 Shoot your shot Only 20,000ish people might see it I’m going to retweet anyone that responds for exposure

@imvarsityparker Love this

@davidchoibiz Clarity of vision dictates focus of action

Just got off an hour call with one of ex employees who I still mentor. Brilliant kid, high EQ, great salesman, true maverick personality. When he left my company to start his own mortgage lending business i was jacked up for him. But over the last 3 years

*Focus on one thing and set goals so big they scare you* Something I wish I learned earlier on in my career. What’s something you can tell your younger self?

He’s had dismal results. So we dug in. What’s your vision? What’s your 20 year goal? How much money do you want to earn? He couldn’t answer any of these questions. 4 failed businesses in 3 years with 1 valuable lesson that will make him millions in the next few to come

@imvarsityparker The results are in the systems that you create! love this. I need to give more thought to my network and my loved ones 🙏🙏

The results are in the systems that you create! I love this. I need to give more thought to my network and my loved ones 🙏🙏

@imvarsityparker Oh Jesus don’t let my pastor see this

@MatznerJon I use a combination of wise and remitly. Just in case one goes down at least I have the other. I’ve had a better experience with wise / less technical difficulties and freezes.

What do you use to pay offshore workers? Regular bank wire transfers don't work because the costs are between $25 and $45 per transaction. Depending on the position I have used: Wise - prepay the account Upwork's anyhire Paypal

@rafaquinn @Keith_Wasserman @moseskagan I have capacity for 2 foreign nationals on my real estate debt fund. Are you free for 10-15 min call?

Hello RE Twitter. Looking for capable, honest, RE GP. With capacity of accepting Non-US LPs. Any referrals? @Keith_Wasserman @moseskagan

@rafaquinn Inspirational! Great to connect Rafael! Rooting for you 🙏🙏

At 26, I sold everything I own and moved to Latin America. It was October 2005, I had two weeks left of work, and everything was posted for sale on Craigslist. The first guy to respond wanted my couch. After arriving, he looked around my San Francisco apartment and asked, "How much for the bed?" I was so excited to be getting rid of two big ticket items I quickly agreed on a price and helped him load both items into his pickup. As I entered my hardwood-floor, studio apartment, my excitement suddenly turned to dismay. Where was I going to sleep for the next two weeks? Growing up in California with a Panamanian Mom, I had always wanted to live close to my large extended family and raise my kids in Panama. After graduating from UCSD with a degree in Economics, I worked for @fisherinvest for a couple of years before quitting and making the move. In Panama, I continued working in financial services until 2011 when my partner and I bought our first business and started Alternative Holdings. We acquired a small, industrial sales company, with 26 employees and started AH with two guiding principles: 1. Neither of us would have an operating role, management would be delegated. 2. We would only draw a salary, reinvesting the profits. Initially, we did not “quit our day jobs”, as our salaries from AH were too small to live. To this day we continue to draw combined salaries of less than 1% of revenues. We now have two holding companies, one focused on Panama and the other on the USA. We operate in 5 different verticals and have done 8 acquisitions. We have never sold a business. In Panama, we operate in restaurants, industrial sales, and business process outsourcing. In the United States, we have a furniture retailer and a distributor of water heating products. My partner and I personally look at every opportunity, read each CIM, and visit all potential acquisitions. We delegate the management of our operating businesses to professional CEOs. Some of them were hired post-transaction and others are founders. Aside from reviewing investment opportunities, each of us acts as a Managing Director; overseeing the performance of a HoldCo and guiding its CEOs. My partner is the MD of our USA HoldCo and I oversee Panama. We have different visions for each. We raised capital for the USA, have minority investors, and the end game is to take the company public. In Panama, our dream is to create a private business that does things the right way. Creating the best place to work, providing first-class customer experiences, and operating in a highly profitable manner. I hope to not only instill these values in our business, but also use it as a model to show others how to operate and compete in Latin America. Since beginning 13 years ago our investment thesis has not changed: • Buy companies we understand • Run by people we want to work with • Pay a fair price Once we have acquired the business, we look to: • Maximize cash flow • Allocate the cash to the best available investment option • Compound over the long term