Too many of us get to the end of our lives and ask, “Why didn’t I follow my passion?” But what if you didn’t wait? What if you asked yourself the tough questions NOW? What if you put your energy and resources into the thing that really makes you come alive? What if you took a now-or-never approach to pursuing an intentional life?
Paul Nagaoka is Managing Partner at Syndicate, a commercial and multifamily real estate investing firm based in Kansas City. He draws on his background as a mortgage broker, realtor and investor to identify high-yield investment opportunities and manage risk through careful analysis and creative problem-solving. Prior to Syndicate, Paul ran his own solo real estate investing company, growing the team to 30 employees and subs with ownership in 350-plus units.
Today, Paul joins me to share his approach to living an intentional life. He discusses his hiatus from real estate, explaining how the passive income from investments allowed Paul to pursue an acting career and become a celebrity in Southeast Asia! He offers insight into why he needed a break from real estate and describes how he is running his business differently now. Paul also covers the value in developing an abundance mindset and finding opportunities that others miss. Listen in for Paul’s secrets to finding off-market properties—and get his advice on getting off the sidelines and engaging in an intentional life.
Key Takeaways
Paul’s hiatus from real estate
- Planned 6-month trip to Asia with family
- Became popular actor, celebrity
Why Paul needed a break from real estate
- 14 years in business, grew team of 35
- Too much time on things he didn’t like
How Paul is running his business differently now
- Focus on strengths (relationships, marketing)
- Rely on partners to handle other duties
Paul’s insight around taking on partners
- Must bring on others to truly scale
- Okay with giving up equity to grow
Paul’s take on living an intentional life
- Develop growth + abundance mindset
- Put energy where passion + talents meet
What inspires people to act on their passions
- Big enough WHY (now or never)
- Make decision to do what’s in heart
What Paul is excited about moving forward
- Goal of $35M in 2019
- Find opportunities others miss
Examples of where Paul sees opportunity
- Identify places to reduce expenses
- Negotiate seller financing deals
How Paul finds off-market deals
- Cold call off-market properties 3-4 hours/day
- Access to CoStar through brokers on team
How to find off-market deals without a broker
- Choose area, tag properties on Google Maps
- Use property tax records to pull contact info
- Drive to location, ask to talk to owner
Paul’s advice for aspiring multifamily investors
- Invest in knowledge + ‘get your jersey dirty’
- Analyze 10 deals/week, make 3 offers/month
Connect with Paul
How to Invest in Real Estate
Resources
Andrew Carnegie’s Concept of Vertical Integration
Cory Boatright & Sean Terry on ABI EP151
Podcast Show Notes
