BiggerPockets Real Estate Podcast 509: Cars & Cashflow: Manny Khoshbin’s Story from Homeless to $1B
Sep 23, 2021
Manny Khoshbin, a successful real estate investor, shares his inspiring journey from homelessness to building a billion-dollar portfolio. He discusses how he transitioned from various odd jobs to commercial real estate, emphasizing the importance of understanding the fundamentals rather than imitating others. Manny highlights value-add opportunities, the significance of networking, and navigating real estate cycles. His story is a testament to perseverance and strategic investment, offering valuable insights for aspiring investors.
AI Snips
Chapters
Books
Transcript
Episode notes
From Homeless to Real Estate Mogul
- Manny Khoshbin's family immigrated to the US with little money, facing homelessness upon arrival.
- He worked various jobs, including selling salvaged items and repackaging snacks, before finding success in real estate.
First Real Estate Deal
- Khoshbin's first real estate investment was a single-family home purchased with FHA financing, which he later sold for a profit.
- He used a 1031 exchange to buy two more homes, but his significant wealth came from commercial real estate.
Advice for New Investors
- New investors should study the market, get licensed, and network with other investors.
- Find mismanaged properties, bring deals to your network, and partner with equity partners if needed.
