RG 314 – Investing in Multifamily Assets as an Ex-Pat with Ashok Patil & Mohit BansalRG 314 - Investing in Multifamily Assets

Let’s welcome two of my fellow ex-pats on the show, Ashok Patil and Mohit Bansal—the brains behind Prime Investment LLC.

Prime Investment LLC is led by Ashok Patil and Mohit Bansal, two seasoned real estate investors focusing on multifamily and commercial investments. Together, they help aspiring investors invest in commercial real estate syndication and generate recurring passive incomes.

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In today’s episode, we go over the differences between Indian and US real estate, what the real estate space looks like in India in a post-COVID world, and how they help Indian investors navigate the US market. We also dive into how Ashok and Mohit educate their investors unfamiliar with how the US real estate market works and how they eventually gain their trust.

All in all, we get a glimpse of what it’s like to invest in US real estate as an ex-pat or aspiring immigrant.

Key Takeaways

  • People are looking for appreciation more than cash flow.

  • Proper education is essential for foreign investors looking to invest in unfamiliar territory.

  • Foreign investors tend to trust the people they know from their home countries.

  • Many Indian investors look into the US market to plant seeds for their families that will eventually migrate into the country.


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Podcast Transcript

Reed Goossens (00:00):

Good day Good day guys. Now, before we dive into today’s show, I want you to let you know that some of you may be aware that over the past eight years, I have built a substantial multi-family real estate portfolio here in the US worth over half a billion dollars. And in that time, my passive investors have received fantastic double-digit returns. And now you too can invest directly into my deals for as little as $50,000. So if you’re an interested investor, head over to Reedgoossens.com to find out more that’s reedgoossens.com. Now back into the show,

Mohit Bansal & Ashok Patil (00:41):

People really love those, those areas, uh, where, where there is heavy growth in those, in those communities. So, uh, people are not looking for as much cash flow. They’re highly more, um, on the appreciation where we can do forced appreciation. And, uh, you know, what we saw is the first few properties where we invested and when the return started coming, uh, we started seeing a shift on that. So kind of what Asho said in the beginning, we would see that, uh, as a little bit of a hesitation, because they’ve not invested in multifamily before people don’t know about multifamily, but once they, once we provided them all the tools, once we provided them all the material, educated them on forced appreciation, how we can force that appreciation, uh, how that compares to single family and single family. You can do that in multifamily. You’re able to do that. And once they really started getting their returns, that’s how really we were able to prove ourselves. And that’s where, you know, our friends and family, they talk to 10 more friends and, you know, then it’s a chain reaction. That’s, that’s kind of how it started.

Speaker 3 (01:48):

Welcome to investing in the US, a podcast for real estate investors, business owners, and aspiring entrepreneurs looking to break into the US market, join Reed as he interviews go-geters risk takers and the best in the business about their journey towards financial freedom and the sheer joy of creating something from nothing.

Reed Goossens (02:09):

Good day good day. a Ladies and gentlemen, on welcome to another cracking edition of investing in the US podcast from Los Angeles. I’m your host reed goossens good as always Debbie with us on the show. Now I’m glad that you’ve all tuned into it to learn from my incredible guests and each and every one of them are the cream of the crop here in the United States. When it comes to real estate, investing, business, investing and entrepreneurship, each show, I try and tease out their incredible stories of how they have successfully created their businesses here in the us, how they’ve created financial freedom, massive amounts of cash flow, and ultimately created extraordinary lives for themselves and their families life by design. As I like to say, hopefully these guests will inspire all of my cracking listeners, which are you guys to get off the couch and go and take massive amounts of action.

Reed Goossens (02:55):

If these guys can do it. So can you now, you know, I’m all about sharing the knowledge with my loyal listeners, which is you guys, and there’s absolutely no BS on this show, just straight into the nuts and bots. Now, if you do like this show, the easiest way to give back is to give us a review on iTunes. And you can follow me on Facebook and Twitter by searching at reed goossens. You can find the show wherever you podcast on iTunes, SoundCloud, Stitcher, and Google play, but you can also find these episodes up on my YouTube channel. So head over to reedgoossens.com, click on the video link. And it’ll take you to the video recordings of these podcasts, where you can see my ugly mug, but the beautiful faces of my guests each and every week. All right, enough outta me, let’s get cracking and into today’s show

Reed Goossens (03:43):

During the show. I, the pleasure of speaking with both Mohit Bansal and Ashok Patil, they are both founded prime investment group, which is currently involved in over 1300 units across several states here in the United States. Mohit has been investing for over 10 years and prior to becoming an active real estate investor. He led several leadership roles in the manufacturing industry, a shook on the other hand is an experienced real estate realtor in the residential space. And he has had experience with obviously residential investments, money lending, and fix and flipping. Now both, uh, Mohit and Ashok are constantly looking to add value to help busy professionals build passive income via investing in one of the most favorite asset classes, multifamily real estate. They both live here in sunny, California, and I’m really pumped and excited to have them on the show today to share they’re incredible knowledge and their story with us, but enough outta me, let’s get ’em out here today, guys. Welcome to the show, how you both doing

Mohit Bansal & Ashok Patil (04:35):

Great. Thank you reed so much for the introduction.

Reed Goossens (04:38):

My pleasure. Well, it’s great to have you both here. We’ve become friends over the last little while. We’re actually partnering up on a deal, uh, coming here in Mesa, California on Mesa Mesa, Californias, Mesa, Arizona. We were both on site as Ashok and I on Monday completing DD. We won’t get into that, but I ask all my guests when they come on the show, can you rewind the clock and tell me how you made your first of a dollar as a kid and maybe, um, a heat. You can go first.

Mohit Bansal & Ashok Patil (05:03):

Sure. You know, I don’t remember the exact age when I made my first dollar, but what I vaguely remember is I was probably seven or 80 year old. I was not even a teenager. And my dad said, you wanna go to office? I’m like, not really dad. He said, no, get up from your bed. It’s time to go time to go work. I’m like, okay. So I did start working with him when I was really young. It’s good that I don’t remember the age. I, I just remember that I was, I was, uh, it was before my teenage. So I started working with him really early when I was not even a teenager. So I would come back from school and after school I’ll spend my evening in his office. So I’ve done every single function in, you know, building his business and growing in that business environment.

Mohit Bansal & Ashok Patil (05:43):

So I, I belong to a business family back home in India. That’s how I grew up in that business family, helping my dad grow that business. Uh, we had, uh, flower milling and grain trading business. So we grew from hundred to thousand to 10,000 to no millions bags, uh, wow. Processing every, every month. So, so that was, uh, great and ha and growing in that family environment, definitely. Um, uh, we made a lot of money, but I, I don’t remember when I made my first dollar and, and, and I made my first money how much I got paid, but definitely, uh, I really enjoyed and learned that, uh, business from, from my dad and acquired that business skills.

Reed Goossens (06:20):

That’s that’s incredible. Great, great, great story. Ashok. What about yourself?

Speaker 4 (06:24):

Yeah. You want to love if I tell you I got my first dollar learning English, so I was never good in English and in India, when I was a kid, there was a culture that people want to speak and ly, so that you want to grow in the corporate world. Right. Mm-hmm . So in my father made a rule. If you speak in, if you speak in your mother Hindi, right. He’ll cut that dollar from a pocket money . So I would say learning English, I’m making the first dollar and I’m sure I’m, I’m not good at that.

Reed Goossens (06:54):

no, it’s, it’s, it’s great to hear. Obviously you’re both originally from India, you, you have, you have strong ties still back to India, but it’s great having other expats on the show because, you know, we, there is a, a common sense of coming to America and making it happen, but you you’re really defined. And, and, and how you’re brought up in your home country really helps you identify opportunity. Right? And, and, and I lo I know a lot of, I’ve got a lot of really good Indian friends and they are very strong business ments. They come to this country, they come to Australia, you know, also back in England as well, and just make things happen. You know, they, the, they really a go getter type of culture. So, so with all, all that being said, walk us through your story of the coming to America story. Um, Ashok. Sure. Maybe you can go first in terms of how you came here, what was the passion and the drive to, to leave India and come to the us?

Speaker 4 (07:43):

Sure. So when I was doing my engineering, my only passion was to go to America. I was looking for a job for even higher education, only in us. Uh, I came here as VIN visa as a software engineer. I still remember when I was flying from new Del I only had dollar hundred in my pocket. that’s it. And then I came here, I got some consulting job and as whatever money I was earning, I was spending back in investing back in India to buy real estate. So I purchased first land in Pune, 2002. I considered home there. Now the price of the property is, is a really prime location. Now what I did, second property approaches in Mumbai. And I keep going doing the starting 2008 and nine doing the financial back in us. And that’s how I entered into the world of real estate. So really estate, I raise my question. Second thing is I never want keep my money. I don’t want to see my money in the bank. I want to invest that money somewhere where somewhere, which is more asset, which I can touch and feel, and really is the best. And it has worked for me. And that’s how I started getting the real estate license, getting into the property management, fixed and flip. And now we are here. Multi-family

Reed Goossens (08:53):

Right, right. How I’ll actually wanna keep this question? I I’ll let Mohit go first on his coming to America story, but I do wanna ask very intriguing the Delta, the difference between the, the us real estate and India. But I’ll keep that for, for a little bit later in the show, Mohit, where did you, was your story coming to the us?

Mohit Bansal & Ashok Patil (09:12):

Yeah, definitely. You know, when I finished my undergrad from India, my dream was same thing as while going to north America. So my dream wasn’t specifically going to America, mine, mine was north America. And, and part of that, my family, a lot of my family is in Canada. Mm-hmm . So we had, we had strong ties with my uncles and aunts and my, my elder brother. He actually had migrated to Canada. So we’re looking forward to, to moving, uh, to Canada as a whole family. But then my, uh, my, my girlfriend, who we went to the same college together, she came to UC Davis for her master’s here in California. So then, you know, the debate started, whether should I go to Canada or America and you know, what she won? So we, I, I ended up moving. I ended up moving to Canada first and then from Canada to, to the United States.

Mohit Bansal & Ashok Patil (09:58):

And that’s how I first moved to Canada. I lived with my family for a couple of years, had a long distance relationship with my girlfriend. And then, then we got married and I, and I, and I moved to United States and kind of after that similar story, as a show started in real estate investments. So started working in my W2, started focusing on that and whatever I was saving. And then I was putting that money in real estate. So I bought my first rental property, uh, after I think, a year after I moved to United States and then kept on piling on that another property year after another property year after. So really start, start seeing that the growth in real estate and what can, what that money can do if you’re putting that in real estate. And that’s how I slowly transitioned from that single family and then small, smaller multifamily and commercial, and then into the larger multifamily complexes. So really enjoyed that journey. The last, uh, 10 plus years. They’ve been incredible. So now, uh, I live with my beautiful wife and four kids here, here in, uh, in Southern California. Uh, uh, I did not ever imagine that I would be here 10 years, uh, ago when I, when I started my career in, in north America.

Reed Goossens (11:01):

That’s, that’s, that’s incredible. And, um, mohit from you coming from such a big business family, was there a pressure to stay and take on the family business in, in the milling industry?

Mohit Bansal & Ashok Patil (11:12):

So it was actually the opposite. So my dad had taken all the pressure growing that business. Um, so as a teenager, when I was working, there was a lot of pressure on helping my dad, but, but then his goal was for, for me to study and then not get into the business and do something else so that, so that we don’t go through the same pressure that he went. So actually, I, I, I, you know, I went to school, did my, bachelor’s did my master’s and started my PhD. And I dropped that, cuz I didn’t like, I didn’t wanna be a professor. So I dropped my PhD and you know, I didn’t wanna be in academics. And my, my mind was always in the business side because that’s what I had in my jeans. Right. Mm-hmm so it’s like started my, although I started my job, but my, my jeans brought me back into the business side because that’s, that’s how I grew up. Right. So, uh, in the business mindset. So, so yeah, it was the opposite actually. Not, not the pressure to, to get into the business, but it was, it was the exact opposite not to get in the, in the business, but, but my jeans did not stop me. So I ended up being in, in, in the business.

Reed Goossens (12:10):

That’s that, that, that, that, that is awesome. What about you Ashok? Uh, did you have any pressure from the family to, to take over a family business or, or was it all just, you know, very stereotypical go to school, get the, the highest paying job you can and, and, and go to start a career.

Speaker 4 (12:25):

So in my family, there’s no business. We have belong to farming committed. We have some farmland mm-hmm and my father never wanted me to go back to the village with the farming. Uh, so W2 or get a good job, do high studies was the way to do right. And that’s I did exactly. That’s what I followed. I did. I did me. It was doing great in when I was in India, back in India. So I joined a software company like IBM and moved here. And then I carried over my job until last four years back. Uh, but what I did in the meantime was investing the money that I was earning into real estate. And that gave me one, one way to get into full time into real estate world. So yeah, in my family, there’s no one who has done business ever.

Reed Goossens (13:11):

That’s interesting that you started so early in your career, investing back into real estate. Was there, did you know about real estate? Did you just, no. You know, like you just think, I just need to buy this, this property back in Mumbai. Like what, what draw you to real estate?

Speaker 4 (13:25):

So I think the first thing is one of my elder sister. So what she was doing when I was in us, she moved before me. Mm-hmm so whatever the money she was earning, she wanted to the property back in India. So she was the one who reached out to me. And at that time I had no idea. I just followed her, but I bought a property, I think back in PK, maybe for, let’s say $10,000, that property might be what, $600,000 now or more.

Reed Goossens (13:50):


Speaker 4 (13:51):

That was in 2001 and two. And then cause real estate in India picked up after that 2002, 3, 4, 5, and now it’s very high, right? Uh, second property, same thing. My wife is from Mumbai. She wanted to purchase a property let’s and I never say no, I just go by the flow. I did that, but both the university world thought very good for me. So third thing was to purchase a property back in us and that’s what I started doing it. And I was luckily enough to start investing during the financial meltdown during short sale time. So I did good in my investment and that’s how I get into the real estate, property management and also getting a real estate license.

Reed Goossens (14:31):

Right, right.

Speaker 4 (14:32):

So, no, I never had a, I mean, I never had a plan, but whatever I did worked out for me.

Reed Goossens (14:37):

Yeah, no, that’s great. But you got started early and I can already hear that the underlying theme for both of you is that as soon as you had any excess money, you are pumping it back into real estate, you’re pumping it back into real estate. You knew that planting the seeds over time would start to, you know, produce a big Oak tree. And one day you can, you can, you can sit under the, the shade of that big Oak tree, right?

Mohit Bansal & Ashok Patil (14:58):

Yep. Yep. So definitely. So same thing here, we bought our first home and I put every single pennies down payment. I wasn’t that educated at that time. That’s I think one of the biggest financial mistake I made and then we bought a brand new car and I paid all a hundred percent cash on that. I was like, that’s all my savings. I have. Why, why to take a loan. Right. So I wasn’t educated at that time financially on how you can make that money work for you. And then three months later, four months later, I think I had saved enough where I, I was like looking forward to putting a down payment on a rental property. And my wife is like, oh, we just bought a home. We just bought a car. It’s been just few months. We, we don’t need, we don’t need another house.

Mohit Bansal & Ashok Patil (15:36):

I’m like, yes. Otherwise we’ll be always working like how we are working. Right. So let’s, let’s put that money is down payment on another property. So we bought a property in Texas where we put down payment for that house. And then a year later, a couple years later we kept on saving all that money and kept on buying and putting down payments for those properties. So, so that’s really where we saw a lot of advantage of that money saving and putting that as down payments for other real estate properties and giving us benefit rather than having that money sit in the bank or in stocks or in 401 401ks where the money was just going up and down, up and then down all the time and you would’ve really chase it on what’s happening. So, so finding stable source of income and utilizing that money, uh, for money to grow and, and make money while you’re sleeping. So that’s kind of the mentality I had and kind of continue to grow on that idea or over the last 10 years.

Reed Goossens (16:27):

And it sounds like that was also from, from the get go, right? You always, you knew that at some point working for a W2 was never gonna be the end game. You had to start getting your money working for you as you left the door every single day, it was leaving the door and going to work as well.

Mohit Bansal & Ashok Patil (16:43):

Yeah, definitely. Definitely. If I did not have that plan in place, I, I don’t think I would be where, where I am today. So sure. Putting that seed, uh, did definitely help and did accelerate that one thing I could have changed is I should not have put, you know, that much down payment on my first house and, and on the car, I should have used that money to buy more properties and, and, and invested that money rather than investing that. So, uh, but, but yeah, otherwise it turned out everything else turned out great. And it’s been a great journey.

Reed Goossens (17:12):

Yeah, no, I, it sounds like it, and hindsight 2020 is always is, is always a problem, but you you’re actively doing it now. You know, you can learn from not mistakes, but learn from your lessons and, uh, and help you move forward in the right direction. Um, I do wanna ask just a little bit about, and maybe, Ashok you, you’ll the best one to ask about this is the difference between, you know, the Indian real estate community and the us. And, and do you see parallels as a similar sort of ways in, in, in, in, in buying real estate in India, like maybe just give maybe an overview of, of, of the Indian market. And, and you mentioned earlier that you bought something in 2001 and then the Indian market started to, to shift. Was there a reason for that? You know, what, what just give us maybe a high level education on that?

Speaker 4 (17:57):

Sure. So Indian economy was doing good after 1998, 1999 and 2000, uh, lot of cities smaller. We see lot new construction. What we see now here in, in us, what we started seeing that in 2000, 2002, two land prices are going up second, good things started happening. A lot of Indians, we are going outside India to work. They have dollars, right? And they were sending their back that money back in India that were also including the real estate, especially in big cities, like Mumbai P Bango Delhi. So that’s a shift we saw. And lot of new jobs from us, Europe from moving to India, like customer service, it call center, that money was being from P were going up at that time. But’s one thing that I think I have also done wrong investing in India from us money. I live here, right? I can, if I were to invested the same money in us, I would’ve made more money getting back money from India.

Speaker 4 (18:57):

If I sell the property visa tax, there is a different between a dollar and repeat exchanges it right when I bought the property for like a dollar was worth 40, 40 repeat mm-hmm now I think on every 75. So I’m already losing money, even though my real estate done good, but I’m already losing money. If I bring the money back to use after selling the property, I have to pay tax. Right? So I think the best thing that I will tell everyone who is listening in to invest in India, if you’re applying to stay in the us, invest there, you can get the better, or the similar returns appreciation is actually better there. You can get tax by the way you live. Right. So those are the things I see. But investment wise, I think I was lucky. At least I invested, I have no regret, only the regret. I, I should have done it in us.

Reed Goossens (19:43):

Well, you know, I’m sure there’s other family reasons of buying properties back home and sending money back. It’s, it’s cultural that you obviously, you guys do that, so, right. Uh, you know, look, it’s, again, it’s part of your story and your journey. So it, it helps you help you learn. So what are you, do you talk to a lot of people back home about how the real estate market is, is, is inflation causing problems. You know, what, what, how’s it all looking, uh, on the ground over there

Speaker 4 (20:09):

Inflation and the COVID is definitely taking the impact. So the price increase definition. We don’t see much what we were seeing before, basically after 2001. Uh, so definitely sticking impact. I’m not in regular touch with investment point with my friends back in India. Mm-hmm, , I’m in touch with my family. Uh, so yeah, definitely. I, and COVID sticking at all and even on the real estate market. Yep. Yep. But we see a, in us we see after everything just, we see hundred percent appreciation. Right. So yeah, there is a big difference between Indian and the us markets.

Reed Goossens (20:42):

Right. Mohit. What about yourself? You, you, do, you obviously, do you have any thoughts on, or, or comments on, on, on the Indian real estate market as it, as it verses to the us here?

Mohit Bansal & Ashok Patil (20:52):

Yeah. I think Indian, uh, real estate market has boomed, uh, quite a bit from 2002, you know, um, uh, the 2015, 1718 until that time. Uh, so we’d seen a peak, but after that, it’ slowed down personally, I have not invested anything in India since I moved to us. My goal was always to keep the money here. Mm-hmm I kind of had that pains already heard out what Ashok mentioned, bringing the money back, being a big problem and, and, and, uh, being depreciating and dollar appreciating. So those two things kind of, uh, uh, are, are difficult. So I, I kept on investing here and which worked out really well, uh, for me and my family. Um, I’ve known a lot of people who have invested in India, uh, in the last 10, 15 years, it had done really well, kind of similar to us.

Mohit Bansal & Ashok Patil (21:38):

The real estate did well everywhere. And lately the last couple years with COVID, it’s, it’s gotten a hit. And, uh, the, you know, a lot of people who have invested who, who are here who want to bring their money back, it, it, it is a big, it is a big challenge for them. So we, we do help, uh, those people as well, uh, on what’s the best avenues, what are the tax strategies? So we do help them. Um, and also what, uh, uh, reed what we’re seeing the trend is we get calls all the time. I was talking to somebody yesterday when they wanna invest in the us market rather than Indian market. So they’re like, when is your next project coming? Where can we invest? How can we invest all the things? So, so they do wanna, uh, rather than invest in India, uh, they wanna invest in the us. And part of that is because they can see their kids actually going to college here, going to universities here. And they want to have a support system when they graduate and all that stuff. So, uh, they are looking at us real estate more than, than, than real estate in Indiana.

Reed Goossens (22:35):

For those of you are interested in staying up to date with all the latest happenings in my business, or to learn more about passively investing directly into my multifamily value, add deals, then head over to reedgoossens.com and sign up for my monthly newsletter by signing up, you’ll automatically be notified about my new up and coming investment opportunities. You’ll be able to stay up to date with all the latest real estate news here in the United States, and much, much more. So head over to reedgoossens.com and sign up to date now back into the show.

Reed Goossens (23:13):

And in general, a lot of, you know, the Asian countries, you know, including India and China and, you know, um, Vietnam and all those places like that look to, to, to, to use an in as an investment vehicle, buying a house as an opportunity to, to, to step into the Western world. Right. I know it’s in Australia, in Canada, in the us, in Europe. Um, so it seems very culturally, um, in appropriate that, that that’s the path, right? People want to have a better life for their kids. They want to, you know, start planting some seeds in, in the us or wherever that might be. Talk to me about, like I know, or I, I don’t know, you might be able to tell me better. Is there a limit on how much money you can bring out of, of India to, in order to stop the outflow and affect the economy when investors, you know, look to, to invest here in the us?

Mohit Bansal & Ashok Patil (24:01):

Um, I don’t believe there is a, there’s a limit on that. So you could, so you could open a us entity here and then, um, you know, move your money. And as long as you’re paying the right taxes, as, as long as you’re structuring it, right, and then paying the, the, the taxes and then you, you’re absolutely fine. And in real estate, the good thing is you can your taxes and you can keep carrying it over. That’s the beauty. So you don’t have to pay taxes today. You can, uh, let it grow. And then, um, when you’re exiting, you can, you can definitely put a plan in place. Yep. So, um, so no, I, I don’t believe there is a, there’s a limit on how much you can do it. Um, um, I’m hearing that, that there are right way to it out where you could do, uh, bigger investments here.

Reed Goossens (24:44):

Got it, got it. Um, Ashok your you’ve, you, you both have made, uh, a big shift towards helping, you know, Indian investors get in more involved in multifamily. Talk us through that educational process. You know, we spoke a lot about a, about how, uh, the Indian expats, when they come here, they have very good, you know, they, they love getting into business. They love, they understand investing. You guys both as a prime examples, you’ve been investing from from day one. So is it, is that an easy conversation with, with most of your fellow expats when you know about investing in, in large or multifamily, uh, here in the us.

Speaker 4 (25:20):

It’s not, uh, it’s actually not. Uh, so we start telling about we are doing it and people definitely know about it. Not say any party because they start talking about it, but still lot of Indian people, they still believe in single family investments, right? They have their own primary house. They go and buy second property. And that’s where we to convince them, basically, people from California, you’re losing money. You’re not even making, you cannot even do a break, even in California. And that’s where we are trying to create education material. We are trying to give them presentation. We are trying to tell them what we can do through multi-family what, through a passive investor, they can make much better return what they have from single family, single family. We are betting on the application. They buy the property today. Every year we lose the money, maybe after five years, the property we double, but there’s a bet, but for sure, in multifamily, we are getting cash on cash. We are, we know that for sure. After five years, we should be able to give them 20% AI. That’s almost like that your money will be double. So we are giving the education is not an easy talk, but we are getting a lot of attraction. Lot of people are trusting us and we are lot of repetitive. Hmm. So that education piece is what we are trying to build up now, uh, telling people what multifamily can do and why we should not do single family.

Reed Goossens (26:37):

And I completely not, not why you shouldn’t do single family, but why there’s other alternative investments out there that make more sense from a, uh, a forced appreciation type of viewpoint, rather than relying upon market appreciation you. I think you’re more talking about in multi-family. We can force the appreciation by raising rents and all that sort of stuff. The

Speaker 4 (26:58):

Same thing I talk about when I talk, give them example a fix and flip, right? Right. The fixed and flip is like a 90 day time route. You buy the property, you fix it value, add, sell it, make money, and get out of it. Right. You don’t wait for year two multi-family is totally a opposite of it. Right. We have a three to five year exit. We, the property we force value add in a period of year to two year. And then once we, uh, then we S the property for third year, and then we sell the property and that’s give them the

Reed Goossens (27:27):

Yes. Yep. That’s exactly right. Are you seeing Mohit a lot of your investors looking for the cash flow or they just looking to park their money and they want the tax benefits? What’s, what’s been the, the consensus in the Indian community about where they wanna place the cash.

Mohit Bansal & Ashok Patil (27:40):

So a lot of our investors they’re looking for appreciation, so not as much on the cashflow side, they wanna, uh, invest in the high growth markets, emerging markets. And that’s where our focus is. You know, we, we go primarily into those markets, Dell, Texas, uh, you know, Houston, Phoenix, uh, Tucson. So those are the markets where we heavily focus on cuz those are the markets emerging. There’s a lot, lot, lot more job growth, lot more people migrating into those. Uh, people really love those, those areas, uh, where, where there is heavy growth in those, in those communities. So, uh, people are not looking for as much cash flow. They’re highly more, um, on the appreciation where we can do forced appreciation. And, uh, you know, what we saw is the first few properties where we invested and when the return started coming, uh, we started seeing a shift on that.

Mohit Bansal & Ashok Patil (28:29):

So kind of what a show said in the beginning, we would see that, uh, as a little bit of a hesitation, because they’ve not invested in multifamily before people don’t know about multifamily, but once they, once we provided them all the tools, once we provided them all the material, educated them on forced appreciation, how we can force that appreciation, how that compares to single family and single family, you can do that. And multifamily you’re able to do that. And once they really started getting their returns, that’s how really we were able to prove ourselves. And that’s where, you know, our friends and family, they talk to 10 more friends and, you know, then it’s a chain reaction. That’s, that’s kind of how it started. So, uh, personally, we like to know every single one of our investors, every single one of our limited partners, what their goals are, where they wanna be, you know, understand to, to them, what matters is it appreciation or is it cash and cash? Are they looking for monthly returns? Are they looking for annual annual returns or are, can they park their money and, and, and bet on that, uh, on, on the force appreciation. So, so we, we understand, uh, every single investor’s, uh, uh, goals and we, we try to match it with the right opportunities and try to make sure, um, uh, they they’re aware of the risks and rewards as well. And then, uh, it’s a, it’s a educated decision for everyone.

Reed Goossens (29:41):

I that’s, that’s exactly right. I think it’s, it’s, it’s investing in that education first to really help bridge that gap. And I, and I’m sure because you guys have walked the walk and the fact that your expats, you know, you know, just, it has such more commonality there because you, you know, you all come from the same, you know, not same circles, but you have similar, uh, you know, humor and, and cultural diff you know, similarities and all that sort of stuff. So when you get together, it’s, it’s an easier conversation. It’s like me, when I speak to Australians, they like, when I, when I’ve got an Australian investor and they, they know that I’m Australian and I’m buying these multifamily deals, they’re like, oh, of course I trust you. You know what I mean? Like it’s, yeah. You know, sometimes expats, we tend to not trust Americans. Right. And just, it’s like, they gotta, they gotta invest with the people that they know, um, from, from their home country. So that’s awesome stuff. What are you seeing in, in the way that you’re educating people now, uh, with the shifting interest rate environment, with, you know, inflation with, um, you know, the, the pending doom of a recession, what, what do you, what’s what’s what are you seeing in the marketplace?

Mohit Bansal & Ashok Patil (30:41):

So definitely, you know, the interest rate, it’s a, it’s, uh, it’s a big change for us, right? So we have, uh, went through last few years with very low interest rates. I think interest rates are still low, you know, when they’re gonna go up, uh, but it’s gonna be still way below the peaks that we saw in the eighties and, and nineties. So, uh, there, there’s still a lot of room. What we do is we do very conservative underwriting along with our partners. We do make sure that we’re following all the models that are out there on future predictions, on where the interest rates are going. And we do educate our investors on what we have used in our models, where we think that the interest rate is going to go and how we have projected that interest rate, whether, uh, we always take a conservative approach, but we do show them the different models that we’re using and how we’re projecting that. And what happens when the interest rate changes, if it goes above our projections, what happens if it goes below our projections, what happens? So it’s open work. Uh, we like to, to educate as much as we can so they can make an educated decision along with us.

Reed Goossens (31:42):

Yep. Sure. Anything to,

Speaker 4 (31:45):

Yeah. So I think remote city, right. And as main thing is discuss that we disclose them, whatever we underwriting, they know about it. Second thing inflation. So if they don’t invest in multifamily or real estate asset, second choice you have is market. And we all have seen the market for the last few days. It goes thousand point up second to thousand point down, right. Uh, at least in the interest rate, we are picking a cap rate. We are having a cap or two to three after three years. Right. So max interested can go up not more than whatever we are think. So those things help them to understand what we are underwritten and that help them to understand what we are giving them returns is not, is we have already taken the into consideration interest rate. Yeah,

Reed Goossens (32:25):

Yeah, no, again, it, it’s all about big, honest being open, you know, as, as investors, as you know, operators, we don’t have a crystal ball we’re trying to just buy the right deals. Yeah. Um, you know, forcing that appreciation, uh, trying to, you make sure we’re hedging our bets against the, a rising inflationary market, um, rising interest rate market, I should say, um, by buying rate caps and all that sort of stuff. Um, and hopefully, you know, parking our money in hard assets to protect us from inflation over the future, you know, over the long term. Yeah. So, um, making sure those key key points are driven home with your investors. Um, as we come to wrap up the show, sort of what, what are you guys looking to do here? I, in the rest of 2022 and beyond with prime investments and, and, you know, your education platform with, um, you know, Indian investors specifically to help them start investing here in the US.

Mohit Bansal & Ashok Patil (33:14):

So, you know, the number one goal is to reach out to as many partners as we can, uh, educate as many people as we can, whether they invest with us or not. So our goal is to continue to reach out, continue, continue to educate them on what are the benefits, you know, how we were able to make it work for ourselves, and if they are losing it. So, you know, uh, educating them and then bringing more and more partners, um, on, um, on, uh, on our, on the table to invest with us. So, uh, the deals where we find ourselves that we are investing in, we really believe solid in those investments. We wanna have, uh, our other partners invest alongside us. Uh, so, uh, partnering with as many people as we can and, uh, working on the deals that we already closed. So executing our business plan on the deals that we already closed, and then next finding more, uh, right deals, which are with conservative underwriting in the emerging markets continu to find the right deals at the right time and then put those in place. So those are the things we’re looking at, working on.

Reed Goossens (34:16):

Love it,

Speaker 4 (34:16):

And to add on that, uh, meet. So we are planning to have a regular meet for education, educating the community. Uh, there are multiple different Indian companies, Southern California and all the places we are trying to reach out to them so we can give them presentation. What multi-family benefit of multifamily like CPA can go and talk about the tax benefit, right? Same way we want to go there and educate them about the benefit of investing passively into multi-family. So those are things we have target to do 22.

Reed Goossens (34:45):

Awesome. Awesome. Uh, I know Ashok. We spoke the other day. You’re an, a cricket fan. My friend, I think you still go down and, and throw the ball around in the park.

Speaker 4 (34:54):

I still do that. I still do that every Sunday morning. I try to go and play, play a kid.

Reed Goossens (34:59):

That’s awesome. Are you, you, you ever into cricket?

Mohit Bansal & Ashok Patil (35:02):

I’m not into cricket. I’m into hiking. So

Reed Goossens (35:05):

Nice. Nice. When

Mohit Bansal & Ashok Patil (35:06):

Ashok is playing cricket, I’m hiking. I’m always telling him why don’t you come join me for hiking? And he’s like, why don’t you come, come join me for decades. So,

Reed Goossens (35:13):

Yes, . I love it. Lads. Love it. Well, look at the end of every show, we like to dive into the top five investing tips. You ready guys to get into it? Mm-hmm all right. Question number one is what is the daily habit you practice to keep on track towards your goals?

Mohit Bansal & Ashok Patil (35:29):

So, uh, you know, staying on track, I think that’s number one for me. Uh, no, don’t get into analysis paralysis on things, you know, staying, uh, uh, uh, consistent with your goals. So write your goals, make sure you’re following them, make sure you’re you’re daily taking, uh, making moves and, and, you know, and get, and getting closer to those goals.

Speaker 4 (35:49):

You know what, Reed, I’m learning a lot of these things from Mohit and voice know that I’m really honest. So I’m, I am the person who is the least organized . And then, uh, after I met Mohit, that someone can be this much organized, right. He even books his in six months in everyone. Wow. Until the next day I’m going somewhere. I don’t even know I’m okay to double the money, but my planning is last minute. So I’m getting better and better space when our business is growing. There’s so many things going on. Uh, so we have tools. We have Google keep and we are trying to be on top of it nowadays. So Mohit is always there and trying to be better. Awesome.

Mohit Bansal & Ashok Patil (36:25):

But, but see here a show brings the other side of it. So he’s just so good in networking with others. And then, uh, you know, so it brings the, the two, two, uh, two mindsets together. So, you know, that’s actually a perfect relationship where, you know, not every person is the same, right. So I cannot be a show and he can be me as well. So, so I think we, we bring that skillset together, uh, and then, and then marry that relationship,

Reed Goossens (36:49):

A symbiotic relationship, as they say a good Y yang. Well, question number two is what has been, uh, who’s been the most influential person in your careers, uh, to date.

Speaker 4 (36:59):


Mohit Bansal & Ashok Patil (37:00):

Go first? Sure. Go

Speaker 4 (37:01):

First. Yeah. Yeah. So location one, he’s one of the biggest business in India. And I read a lot about him, about speak about his father, deliver and money, how he started. Uh, he used to work in a gas station, I think in 1930s and forties, somewhere in middle east. And that’s how they started the company from that till went back to India, started in textile. And I think he’s the richest richest person in all over the world now. Wow. Uh, so I always think, I mean, dream big. If you don’t have a dream, then you are going nowhere. Right. I dream big. I don’t know where we end up. Uh, and then follow your ethics. Be honest, your investor, everything you sell, you’re selling it to someone. We are selling our product, which is multifamily. And the investment we are asking is not like a dollar one is a hundred thousand minimum investment. Right. So we have to do everything right. And I’m sure we might be able to reach someday where maybe half a vacation, maybe 10 of him. So I follow him.

Reed Goossens (38:04):

Awesome. What are you mahi?

Mohit Bansal & Ashok Patil (38:06):

Yeah. So for me, the most inspirational person, uh, is my dad actually. So I saw him growing up and working the way he, he worked. So, um, I spent, uh, almost 10 years, more than 10 years actually in his business, seeing that business grow and learning a lot of things from him. Uh, you know, it, it, it goes to every single thing, you know, ethics, honesty, how you talk, how you present yourself, you know, kind of similar things that Ashok said, right. So it’s the trust that matters most. So we kind of, uh, touch base on investors trust previously, right? So, uh, for us having the trust matters the most, and, and that’s what I learned growing up, uh, from my dad, especially in his, in his business. So for, for me, he, he’s the most influential, informational person, uh, that, uh, that, uh, uh, I’ve met

Reed Goossens (38:53):

Awesome, uh, at Mac. Awesome, awesome stuff. Uh, what is question number three? What is the most influential tool in your business? Like? So we can talk about a tool like being a, a notepad or a phone, uh, or you might have a piece of software that you can’t run the business without. What is it,

Mohit Bansal & Ashok Patil (39:07):

You know, for me, it’s, uh, Excel. So I cannot live without Excel as much as, you know, we all sometimes hate Excel saying it’s so there’s so much, but, you know, truly there is so much you can do in Excel. Like all the underwritings we do, they all the models they are based in underwriting. Right. So all our, a lot of our trackers they’re in, they’re in Excel. So, uh, definitely, um, you know, Excel is the number one tool tool for me without, without that I can live. Uh, even if I have, you know, complex databases, I still like to download the reports in CSVs or Excel files, and then like to trend and track and pivot and do all that stuff. So that’s a, without that tool, I, I don’t think I can, I can survive and grow in business.

Reed Goossens (39:48):


Speaker 4 (39:48):

So I will say phone personal connection. Yep. So I don’t think so. I can, I can survive without that phone in personal collection. You, everyday I start my day calling, at least even if they invested six months before just to talk to them, how are you, how are you doing? And that personal connection help us to go to the next level. So for me, my phone and that personal

Reed Goossens (40:10):

Love it, love it. Um,

Mohit Bansal & Ashok Patil (40:12):

Exactly. Sorry, that goes back to the first question back, you know, a show is the networking person and I’m the Excel person. So, so yes, we both met together.

Reed Goossens (40:21):

That’s right. You, you need that symbiotic relationship for it to work well, yeah, no, a hundred percent question. Number four is in one sentence. What did you, what is being the biggest failure in your career and what did you learn from that failure?

Speaker 4 (40:34):

My biggest failure, I think as when I started, uh, I fail multiple times. I was never the smartest kid kid in the class, but I achieved every time. Right. Uh, in my badge, I was the first who got the job into it. So I always work hard. I have a dream. And for that dream, I always work hard. So I say, when it comes to failure, university in India is number one failure. I think I should have still done the same money invested back in us. Mm India state.

Reed Goossens (41:00):


Mohit Bansal & Ashok Patil (41:01):

So for me, um, uh, you know, I would say it’s more of not starting in real estate, you know, as early as I could. So, um, if I would have started in my twenties, I think it would’ve been much better. So I started in my thirties. So, uh, you know, it kind of correlates, you know, the earlier you start the better it is. Yeah. I, I always go by a code, you know, don’t buy, don’t wait to buy real estate, uh, you know, wait, and then, uh, sorry. Don’t, don’t, don’t wait to buy real estate, buy real estate and then wait. Right. So, um, so I, I wish I would have started earlier in my career and then would’ve held me grow even more.

Reed Goossens (41:38):

No, completely agree. Last question for you, both is where can people reach you to continue the conversation that wanna be in your sphere? Where do they go?

Speaker 4 (41:45):

Our website, PrimeInvestmentLLC.COM Go to our website. You can go to contact, you can contact either me and Moge. We are always available 24*7 go to Facebook page. You can always reach out to us,

Reed Goossens (41:58):


Mohit Bansal & Ashok Patil (41:59):

Or go to LinkedIn page. And that’s where you can find us as well. Uh Ashok and I, uh, we’re both available. We’re very approachable. We believe we’re we’re down toward people. We’re not a, a big brand, a big company where you can’t reach out to, to any of us. So we’re just a text away, a phone call away, a meeting away, go to our website. You can find our numbers, you can find our email addresses. Um, uh, I do check every single email. I just want to every single text, I just want to every single call. So, um, so yes. Um, please reach out to us any, any way that you feel comfortable with.

Reed Goossens (42:31):

Well, guys, thank you so much for jumping on the show today. I just wanna reflect some of the things that I took away from today’s show. And I think the biggest thing that I took away from today’s show is that you had the ability all the, the, the foresight to start investing early in your careers. Yes. You may not have known everything that you should have. Good, no bad, but you got started. And I think that’s the most important part of the lessons I’ve taken away from you also given that your expats as well, love the Indian community, love what you guys are doing. You you’re trying to bring more Indian, um, expats into the real estate investing world. You know, making them understand the differences between appreciation market appreciation, forced appreciation, and then really trying to help create an education platform for those investors to, to educate them on the fact that there’s more to life than just working at W2. So, um, again, I wanna thank you both for jumping on the show today. Did I leave anything out in that review?

Mohit Bansal & Ashok Patil (43:23):

No, this has been great. Thank you so much, Reed, for giving us an opportunity to jump on the podcast today.

Speaker 4 (43:28):

Same thing. Yeah. Thank you, Reed for giving opportunity. I mean, for us, the first podcast, hopefully could.

Reed Goossens (43:33):

Yeah, no mate boys have done really, really well. Our first podcast. You, you nailed it. Um, again, I wanna thank you all for coming on the show, enjoy the rest of your week and we’ll catch up very, very soon.

Mohit Bansal & Ashok Patil (43:44):

Sure. Thank you so much, Reed. Bye

Reed Goossens (43:46):

Bye. Well, they have another cracking episode jampacked with some incredible episodes from a heat and a shook two guys that are absolute go getters coming to the United States, making a go of it and now creating an awesome business in and around educating other Indian experts about the benefits of investing here in the United States. If you do wanna reach out to them, remember head over to primeinvestmentsllc.com, check them out on LinkedIn as well or on their Facebook page, because they were all readily available any time of the day or night. They have that work ethic that we all freaking love. I wanna thank you all for jumping on the show today to, to really continue to grow your financial IQ, because that’s what we’re all about here on this show. If you do like this show, the easiest way to give back is to give it a five star review on iTunes. And all the show notes from today will be up on my website at reedgoossens.com. Now we’re gonna do this all again. Next week’s remember, be bold, be brave and go give life a.