In a recent episode of the Invest Smarter Podcast, Chris Lento, founder and managing member of EM Capital, shared his inspiring journey from an aerospace engineer to a successful real estate investor. Hosted by Simon Castillo, the conversation delved into Chris’ unique background, his initial steps into real estate, and the strategic decisions that led to the growth of EM Capital.
Key Highlights:
- First Steps into Real Estate:
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- Chris’ interest in real estate was piqued when he moved into a rented apartment and became curious about property ownership.
- He started his real estate journey by purchasing a three-unit property in Boston while maintaining his day job.
- Transition to Full-Time Real Estate:
- Despite the 2007-2008 financial crisis, Chris continued to grow his portfolio and eventually transitioned to full-time real estate investing eight years ago.
- He embraced the syndication model, partnering with investors to scale his investments.
- Syndication Model and Scaling:
- Chris’ first syndicated deal was a 66-unit property in Kentucky, where he gained valuable experience in asset management and capital raising.
- The syndication model allowed Chris to acquire larger properties and manage them effectively.
- Key Skills and Strategic Decisions:
- Chris’ engineering background provided essential skills like project management and attention to detail, which translated well into real estate.
- He strategically chose high-growth markets along the Raleigh to Atlanta corridor, relying on trusted property managers and local partners.
- 2023 and 2024 Outlook:
- Due to market uncertainties, Chris took a conservative approach in 2023, focusing on team growth, marketing, and capital raising.
- For 2024, he remains optimistic about the multifamily market’s fundamentals and plans to continue scaling with prudent acquisitions.
- Advice for Aspiring Investors:
- Chris emphasizes the importance of finding complementary partners and building strong relationships with property managers and local experts.
Chris Lento’s journey from an aerospace engineer to a successful real estate investor is a testament to perseverance, continuous learning, and strategic partnerships. His story on the Invest Smarter Podcast offers valuable insights for aspiring real estate investors and seasoned professionals alike.
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Connect with Chris Lento: LinkedIn.
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