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What you’ll learn in just 17 minutes from today’s episode:
- Find out one investment strategy that serves as a well-oiled machine that gives you a sizeable return on investment
- Discover a way to structure your deals with ease with the involvement of your closest network
- Learn how to get an effective and efficient team you can fully rely on without you being there in person
Harry Samby is an experienced investor in various real-estate projects such as; Buy Fix & Hold, Rent to Own, Student Rentals, Duplex Conversion, Land Severance, and Flip, but found his passion in multi-family investing.
Harry has also worked with Joint Venture partners (JV) on various deals. Harry’s specialty is to put together a win-win project. By education Harry is an Engineer and by passion a real estate entrepreneur.
In this episode, Harry shares how he progressed from single-family homes to multifamily properties. To him, the economy of scale is one advantage of having multifamily. He also talks about raising capital from just within his closest circle of influence. How he builds trust for them to venture with him and easily hand him their money is one of his secrets to his successful projects.
00:47 – What his main real estate focus these days
01:29 – Partnering up with new construction acquisitions
02:12 – His transition from single-family homes to multifamily properties
03:17 – Having properties in Canada and the US
03:54 – His thought process about buying properties
05:13 – The reason behind moving from single-family homes to larger multifamily properties
06:31 – His way of raising capital for his multifamily properties
07:36 – How he created a team to manage well his three different markets
09:20 – How he communicates with his property managers
10:33 – How does he provide resources to his managers
12:11 – His proactive way of getting tenants
13:42 – Adding value to other businesses, as well
14:14 – Making collaborations with competitions
15:12 – Harry’s aha moment in his real estate journey
“My thought process for any project, there are three main components. One is the market; another one is the property and the third is a team. All three components have to be present. And my job is to ensure that all three, they are properly looked at.” – Harry Samby
“With multifamily properties, the risk is less, the second is, there is less competition, as well.” – Harry Samby
“Now, I think people have started to get into multifamily a lot, but I think once you establish a good business relationship with your team, your broker, your property manager, your leasing agent, and everybody on the team it’s like a well-oiled machine, you know, I would say it’s easier to manage, and there is economy of scale there as well.” – Harry Samby
“In terms of structure, I approach my family and friends, people who are in my immediate circle of influence. They have seen my progression right from residential to Commercial Investments. So, there was a trust that was built up over a period of time. And when I looked at these properties, that number made sense, the market made sense, I had the team. So, my specialty to put together all those aspects make it a successful project.” – Harry Samby
“I worked with people with various mentors in different fields. That was a great help, that helped me not to make those costly mistakes because from residential to commercial, sometimes those mistakes could be very, very expensive.” – Harry Samby
“Sometimes when you talk to the seller, through that communication, what worked for them, it’s all about the conversation. From there onwards, you can find out what works for you, what changes you want to make.” – Harry Samby
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