Pancham Gupta, co-founder and principal of Mesos Capital, has faced many challenges in his personal and business life. From quitting his high-paying job to dealing with a challenging property during the COVID-19 pandemic, Gupta believes that challenges make us better individuals and syndicators. Here are five lessons you can learn from him on overcoming challenges and succeeding in real estate:
Face challenges with a positive mindset: Gupta’s mindset is to face challenges head-on, learn from them, and become a better person. He believes that challenges make us stronger and wiser, and we should embrace them with a positive attitude.
Seek help when needed: When Gupta was struggling to quit his job, he hired a personal coach to help him overcome the programming in his mind. Seeking help from others who have more experience or expertise can be beneficial in overcoming challenges.
Stay focused on operational efficiencies: Mesos Capital is focusing on properties where they can achieve operational efficiencies and increase value, rather than just chasing growth. Staying focused on the fundamentals and finding value propositions can help you succeed in real estate.
Stay sharp and agile: Gupta emphasizes the importance of personal habits, such as a morning routine and physical activity, in staying sharp and agile. Taking care of your physical and mental health can help you make better decisions and stay on top of your game.
Connect with others: Networking and connecting with others in the industry can help you learn and grow in real estate.
During the interview, Pancham shares his experiences of facing challenges and overcoming them. He talks about how during the COVID-19 pandemic, his property managers were not going on the property due to fear, and many tenants stopped paying rent. This led to vacant units, and he had to fly to the property during a time when no one was flying to ensure everything was under control. Gupta believes that challenges make us better individuals and syndicators.
Regarding the current market situation, Gupta believes that it is very challenging to invest due to geopolitical risks, inflation, and uncertainty around interest rates. He mentions that the labor market is still strong, but the Fed wants to weaken it. Mesos Capital is very opportunistic and looking aggressively for deals, but they do not want to do a deal just for the sake of it. They are carefully watching and putting out offers, but no one wants to sell at the price they want to buy.
Overall, Gupta’s experiences and mindset can teach us valuable lessons on overcoming challenges and succeeding in real estate. Don’t be afraid to face challenges, seek help when needed, stay focused on the fundamentals, take care of your health, and connect with others.
So, what are you waiting for? Tune in now, this episode of Multi-Family AP 360 and start improving your business strategies!
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