RG 111 – From India to U.S. Multifamily Syndication: The Global Perspective with Ike Mutabanna
- Ike has worked globally in India, Indonesia and the US
- Ike has a podcast called the Side Business Show
- Ike is the founder of the IHM Business Group
Nuts and Bolts
Ike is the President of the IHM Business Group and he has previously been the Chief Technology Officer at several start ups. Ike lives and works in Dallas where he runs multiple small businesses including multi family syndication. He educates his friends and family to join him in investing and he has since been an equity partner in over 1000 apartment units. Ike is also the host of a weekly podcast called the Side Business Show. Ike earned his first money in India as a child in Bombay where he learned how to code and started up a 1-2-1 school called Inter Galactic Computers to teach other people.
Ike finished his undergraduate degree in India and worked in research where he had papers published and enjoyed the research. While he was doing this he caught the attention of a US professor who encouraged him to come to Ohio and do a Masters in Electrical Engineering. After he had completed his education he started a business based in Indonesia and didn’t come back tot eh US until 2001 to work for AT&T. Before moving to Dallas he live in Boston for 15 years doing marketing and working at start up companies.
After moving to Dallas he met Joe Fairless and passively invested in a multifamily syndication opportunity. This made him understand the economies of scale of multifamily investment, which was especially interesting because multifamily doesn’t exist in India. India doesn’t have much of an acquisition market where you buy stable assets. Land costs in India are very high so you couldn’t create a multifamily and make back the money in cash flow. The only way to re-coup cash would be to sell it on.
Ike set up his podcast because friends and family wanted to be entrepreneurial and this would help to educate them. In reality most people can’t leave their stable incomes and jobs to go and do something else, but there is one path into entrepreneurship is a side business. 25% of Australians have a side business which is the highest in the world, closely followed by the US at 15%. A side business is an income generating business that you can do permanently and can flower into something bigger and more permanent. A side business is different to a side gig because a gig isn’t sustainable. Ike’s advice for finding a side business is do something you enjoy and can upscale.
Contact – www.thesidebusiness.show