In today’s episode of Passion for Real Estate Investments, Co-Founder of All States Capital Group, LLC, Javier Hinojo, talks about multifamily and commercial real estate investing. From having 32 cents in his bank account on New Year’s Day in 2017, to buying 343 units in the past 10 months, Javier’s passion has driven him to new levels of success.
In 1998, Javier served as VP of American Security & Lock Inc. In 2016, he became CEO of IQ Real Estate Investing, LLC, and in 2019, he Co-Founded All States Capital Group, LLC. In the past 5 years, Javier has acquired over 130 properties, all of which were value-add projects. Due to his success in real estate, Javier was inducted into the Rich Dad Poor Dad Hall of Fame.
What challenges did Javier have to overcome? He tells us how he’s scaling his business across multiple states, and we learn how to find the right mentor. How does he structure his deals? Javier gives some advice to listeners, and we hear how he raised $2.1 million in equity overnight.
If you’re looking to scale your business, or you want to get into multifamily investing, this episode has everything you need.
Highlights from the interview
- Javier bought a multifamily property for $1.3 million, and the next day it was appraised at $3.4 million.
- Javier doesn’t hire anybody unless there’s a year’s salary in the bank.
- “It doesn’t matter who’s teaching you how to do it, if you’re not doing it, it’s not going to fall in your lap.”
About Javier Hinojo
Married 22 years, 5 kids, been self employed pretty much all my life since 16 as a locksmith.
Went to a Rich Dad Poor Dad seminar NOV of 2015. Paid my 35k got some training.
Hade 32 cents in my account on new years day 2017. I almost gave up. Then I asked my kids for their Christmas money so I could pay my rent.
Started fix and flip, then I did some wholesales. We would fix and flip over 50 per year and wholesale 80+ by middle of 2019. Then late 19 I decided to stop cold turkey and go to commercial real estate. I pretty much let all my staff go and started from scratch. I started to liquidate all my SF.
Was inducted in the Rich Dad Poor Dad Hall of Fame in 2018
I believe in mentors/coaching. I don’t do that but know most of the big players in the business and can give you a good recommendation.
By the end of 2019 I closed on my first apartment 63 units outside Charleston.
Fast forward about 10 months later I had 343 units across 3 properties. Valued at 25M and being all in around 16M.