Veena Jetti - The Mindset of Building a $900MM Multifamily Portfolio
Jun 10, 2023
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Veena Jetti, a founding partner of Vive Funds with a $900MM multifamily empire, discusses imposter syndrome, the power of representation, scaling a portfolio, attending the Clever conference, and the importance of mentors and diversity in the real estate industry.
Building a strong team and finding partners with complementary skills are crucial for scaling a real estate business and taking on larger deals.
Establishing trust and credibility with investors through transparent communication, delivering both good and bad news promptly, and consistently discussing future investment opportunities are essential for building strong investor relationships in the real estate industry.
Deep dives
Starting in Single Family and Transitioning to Multifamily
Vina Jettie started her real estate journey in single-family properties but soon realized the limitations of scaling her business. She wanted to acquire larger properties and transitioned to multifamily investments. By partnering with the right people and building a strong team, Vina was able to take on larger deals and achieve greater success. She emphasizes the importance of finding partners who bring complementary skills, as well as creating a power team to handle various aspects of the acquisitions and asset management process.
The Importance of Building Relationships and Raising Capital
Vina highlights the significance of building relationships and raising capital in the real estate industry. She emphasizes the importance of starting these conversations with investors before having a deal in place, as establishing trust and credibility takes time. Vina recommends being transparent, delivering both good and bad news promptly, and honoring commitments to build strong investor relationships. She also stresses the importance of consistently discussing and promoting future investment opportunities, even if not actively raising capital, to keep potential investors engaged and interested.
The Role of Mentors and Being in the Right Rooms
Vina shares her experience of not initially paying for mentorship and instead earning her way into the right rooms. However, she acknowledges that paying for mentorship or VIP access is a valuable investment for those looking to accelerate their growth and network. Vina attributes much of her success to being in the right rooms, meeting the right people, and having the opportunity to learn from experienced mentors, such as Cody Sperber and Pace Morby. She encourages professionals to participate in events and conferences that offer access to influential people in their respective industries.
Empowering Women and Diversity in Real Estate
Vina discusses the need for greater gender diversity and representation in the real estate industry. She shares her experiences of being one of the few women on stage at conferences and highlights the importance of increasing the visibility and participation of women in speaking engagements and panels. Vina stresses the value of diversity in perspectives, backgrounds, and experiences, and encourages men to actively support and advocate for women's presence in the industry. She recognizes the positive impact that individuals like Cody Sperber and Pace Morby have made in promoting diversity and providing opportunities for women in real estate.