Both Jenny Gou and Steven Louie had successful careers before they left them to delve into the world of multifamily real estate. Together they founded Vertical Street Ventures and just nine short months in, they have over $100 million of assets under management and are still growing. Today they join us to discuss how they did this and what mindset they had that helped them to achieve this. In this episode, you’ll hear about their professional backgrounds, how they got into multifamily, how they met each other, and how they started Vertical Street Ventures together. You’ll discover what made Steven jump from single-family real estate to multifamily, what he learned from passively investing first, and what led Jenny to quit her job during their first acquisition. Find out how they raise capital, the importance of relationships in real estate, how they overcome the challenges of asset management, the state of their current deal flow, and how they are planning for growth. We also discuss their morning routines, the books they’re reading, and the importance of mentorship in having the right mindset for this business and reaching one’s goals. To find out how to achieve speed and scale quickly in multifamily real estate, tune in today!
Key Points From This Episode:
- Meet Jenny Gou and Steven Louie and discover how they got into multifamily and started Vertical Street Ventures together.
- What made Steven jump from single-family real estate to multifamily.
- What led Jenny to quit her job during her first acquisition.
- Insight into their current multifamily portfolio and its locations.
- Why Steve invested passively first, what he learned from it, and tips for passive investors.
- How they consistently raise capital and the importance of networking.
- The challenges of asset management and how they are planning for growth.
- The state of their current deal flow and the importance of relationships in real estate.
- The importance of operating and planning for future projects to scale fast.
- The sacrifice required to get real estate investing right.
- Insight into Steven’s and Jenny’s morning routines.
- The books that Jenny and Steven are currently reading
- The mentorship group that Steven is a part of and what he has gained from it.
- How Jenny’s first mentor was Steve and what she has gained from the network she joined.
- Mistakes that they have made that they wouldn’t repeat.
- The importance of vetting your sponsors and not doing a deal with someone brand new.
- Steve and Jenny reflect on some of the deals that they walked away from.
- Mindset tips for people getting into this business.
- Jenny’s definition of success and why the people she surrounds herself with are what makes her successful.
- How Steven’s definition of success has changed and how he’s now living the life he wants to live.
Links Mentioned in Today’s Episode: