Investing In Different Asset Classes

The Richer Geek

Welcome back to another episode of the Richer Geek podcast, we have Charles Carrillo. He's the founder, and managing partner of Harborside Partners, he has been actively involved in over $200 million worth of real estate transactions since 2006. That is a lot of stuff, and under 20 years, he carries extensive knowledge and renovating, and repositioning multifamily, and commercial real estate. And he also invests in ATM's early-stage tech. And we'll get into some of that.

In this episode, we’re discussing…

• [1:36] Charles Carillo's Background

Started investing in real estate in 2006, initially with a three-family house, followed by various residential and commercial properties.

Actively involved in renovating and repositioning properties, particularly in multifamily and some commercial real estate

• [4:37] House Hacking

Charles explains house hacking, a strategy where you live in one unit of multifamily property and rent out the others.

Recommends utilizing FHA loans for 3-4 unit properties with a low down payment.

Emphasizes the financial benefits of living almost rent-free while building equity

• [7:15] Lessons from Self-Managing

Charles discusses the challenges of self-managing lower-class properties.

Stresses the importance of buying better properties in better areas for long-term success.

Highlights the significance of treating tenants fairly and building good relationships for successful property management

• [11:09] Pros and Cons of Self-Management

Charles talks about transitioning from self-management to third-party management.

Advocates for finding a balance, utilizing third-party management for operational efficiency while still being hands-on with key decisions.

Emphasizes the value of building relationships with reliable contractors, especially handymen.

• [17:27] Scaling and Transition to B-Class Properties

Charles shares the pivotal moment of transitioning to B-Class properties from C-Class for better resilience, control, and predictability.

Underlines the significance of having a solid management system and the ability to scale when working with investors.

• [18:08] Importance of Personal Project Experience

Advises against jumping into syndications without personal project experience.

Encourages investors to gain hands-on experience, learn from mistakes, and prove their ability to manage properties effectively before seeking investor funds.

• [20:46] Minimum Viable Product (MVP)

Charles recommends having a minimum viable product and showcasing a successful self-funded project before pursuing syndications.

Stresses the value of demonstrating competence to potential investors through personal experience.

• [23:27] Where to Find Charles Carillo

Charles provides information on how to connect with him.

Website: Harborside Partners

• [24:56] Podcast and Coaching

Charles hosts a podcast with strategy and interview episodes available on the website.

Offers coaching services, providing one-on-one guidance.

Resources from Charles

Harborside Partners | YouTube | Facebook | Charles Carillo LinkedIn | Charles Carillo Facebook | Instagram

Resources from Mike and Nichole

Gateway Private Equity Group | Nic’s guide