Subtitle: The Journey to Real Estate Investing
Hello everyone! I recently had the pleasure of hosting Ted Patel, the founder and CEO of Astre Capital, on my podcast. Ted is not only a successful real estate investor but also the host of the Decoding Cash Flow podcast. He has helped many people achieve their dreams of passive real estate investing, and I was thrilled to have him share his insights with us.
Ted’s journey into real estate is quite fascinating. He moved to the US in 2000 to pursue a master’s degree in computer science and later worked with investment banks on Wall Street. However, the financial crisis of 2008 led to a significant shift in his career. After being laid off, Ted decided to take control of his future and ventured into entrepreneurship. His first business was a truck stop in Florida, but a friend in the construction business sparked his interest in real estate.
Subtitle: The Shift to Passive Real Estate Investing
Ted’s transition from active to passive real estate investing was not an overnight decision. It was a significant accident in 2017 that led him to focus on multifamily properties and strive for passive income. Ted emphasized the importance of commitment and being genuinely interested in achieving your goals. He credits his success to networking, seeking guidance from experienced individuals in the industry, and surrounding himself with like-minded people.
Subtitle: The Challenges and Opportunities in Ground-Up Development
When I asked Ted about his involvement in ground-up development in the local market, he acknowledged the impact of interest rates but remained optimistic about the opportunities in the multifamily market, particularly in New Jersey. He explained that low inventory and cash buyers contribute to the demand for luxury family houses. Despite the price stabilization since the start of the COVID-19 pandemic, Ted has been able to achieve a 20-25% return on new projects.
Subtitle: Habits for Success
Ted also shared some of his habits that contribute to his success. He starts his day at 5:00 am with exercise, meditation, and planning. He also emphasized the importance of reading before bedtime. One book that has greatly influenced his perspective on wealth and investing is “Rich Dad Poor Dad” by Robert Kiyosaki.
In conclusion, Ted’s journey from Wall Street to real estate investing is a testament to his resilience and determination. His insights into the world of real estate investing, particularly in the multifamily market, are invaluable. Whether you’re an aspiring real estate investor or just interested in learning more about the industry, I hope you find Ted’s experiences and advice as enlightening as I did.
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