EPISODE #259 | Break Out of Corporate America with Multifamily – With Jenny Gou & Steven Louie
When you have a high-paying corporate job, it can be tough to walk away. But if time freedom is a priority for you, and you’re willing to take action, you absolutely CAN break out of the rat race and replace your W-2 income with multifamily real estate.
Jenny Gou and Steven Louie are the Cofounders of Vertical Street Ventures, a multifamily investment firm dedicated to helping people achieve financial freedom through passive investing in real estate. Steve is an experienced multifamily investor with a portfolio of 2,500-plus units, and he recently quit his corporate job to focus on real estate full time. Jenny left the rat race early in 2020 with a portfolio of single-family homes, and since then, she has gone from zero to 800 multifamily units.
On this episode of Apartment Building Investing, Jenny and Steve join me to discuss how they broke out of corporate America, describing the mindset of action and focus on family that drove their decision to walk away. They explain how their respective backgrounds in sales benefit their real estate business, sharing how it gives them a competitive edge in sourcing opportunities. Listen in for insight on the different roles on a multifamily team and learn how to achieve scale by partnering with other investors.
Key Takeaways
How Steve & Jenny met and became partners
- Steve met Jenny’s husband at local meetup
- Similar values, shared background in sales
What made Steve a good mentor for Jenny
- Track record of success in multifamily
- Allowed to sit in on meetings
Why Steve agreed to partner with Jenny
- Needed support on operations side
- Respects Jenny’s ability to assess people
What appeals to Jenny about multifamily operations
- Learn by doing to accelerate growth
- Used to leading teams, managing projects
How Jenny benefits from being a full-time investor
- Opportunity to learn quickly
- Able to blow past goals
The roles on a multifamily real estate team
- Acquisitions or business development
- Asset management (execute business plan)
- Underwriting
- Investor relations
Why Steve & Jenny decided to partner NOW
- Quit rat race to prioritize family
- Scale portfolio to replace income
What inspired Steve to leave a good corporate gig
- Mindset of action, right mentors
- Tax advantages of real estate
How a sales background helps multifamily investors
- Understand importance of relationships
- Competitive edge in sourcing opportunities
What Steve & Jenny would tell their younger selves
- House hack rather than buy first house
- Don’t have to be landlord to be investor
Connect with Steven Louie & Jenny Gou
Resources
Learn More About Michael’s Mentoring Program
Join the Nighthawk Equity Investor Club
Explore Michael’s Platform Builders Framework
Feedspot’s Top 40 Apartment Investing Podcasts
CASHFLOW Quadrant: Rich Dad’s Guide to Financial Freedom by Robert T. Kiyosaki
