The Fastest Way To Build A Six Or Even… Seven Figure Real Estate EMPIRE!
Everyone wants to invest in real estate, but few are willing to put in the work to make it happen.
When it comes to multifamily investing, starting out can certainly be a grind, but if you want to find a good deal, you have to be willing to do what others won’t.
This is something that today’s podcast guest knows all too well. When James Kandasamy first started his multifamily journey, he went to all the brokers, searching for opportunities, but nobody took him seriously.
Instead of giving up, he decided to take things into his own hands. He used a combination of direct mail, cold calling, and his networking skills to find off-market deals and get his foot in the door. To this day, he believes the people who win, are the ones who are willing to do things differently — and that’s exactly how he rose to the top!
James is now the Principal Director of Acquisition and Investor Relations at Achieve Investment Group – a vertically-integrated real estate company, actively engaged in multifamily acquisition, asset management, property, and construction management.
He has identified, underwritten and overseen the acquisition process of over $180M of quality multifamily investments and routinely leads passive investors to an average IRR of more than 20%.
Pretty impressive for a guy who was turned down by all those brokers! Let that be encouragement for any aspiring real estate investors.
In our conversation, we hit on a number of topics related to multifamily investing. You’ll learn about the risks of using bridge loans, Debt Service Coverage Ratio, stress testing, market projections, the deal structure James uses that puts investors first, and how to avoid getting stuck in the debt trap!
Key Takeaways with James Kandasamy
- Off-market deals VS. working with brokers.
- The threat of using a bridge loan to buy a property — especially with rising interest rates.
- Multifamily real estate didn’t crash during covid, but it is under stress — invest wisely!
- Is your deal profitable or losing money? Make sure you understand Debt Service Coverage Ratio (DSCR)
- Multifamily is a great investment vehicle, but if you’re not careful you could get stuck in The Debt Trap!
- The pinch between rising interest rates and cap rate.
- The importance of stress testing your deal.
- The power of being a vertically integrated real estate company.
- Different ways to distribute returns to investors — and why James prefers the waterfall structure.
- Real estate projections for 2021/2022.
- Why multifamily will always be a winning asset class — at least for those who understand how to properly buy and manage a property.
- Why expanding your network and increasing your circle of influence is the best way to learn.
James Kandasamy Tweetables
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Josh Cantwell: So, hey there, guys. Welcome back to Accelerated Real Estate Investor with Josh Cantwell. So, excited to join you today. I have a special treat for you. Today, I am interviewing James Kandasamy. James is the principal along with his wife, the principal in his company called Achieve Investment Group. He is also the Director of Acquisition, where he focuses most of his time on finding deals and raising money. He’s got over seven years of experience in real estate with more than five-plus years just in multifamily acquisitions and asset management. His expertise in finding value in multifamily opportunities is really his sweet spot. He’s underwritten, identified, and oversaw the acquisition of 10 syndications and 10 large multifamily assets. He currently owns 2,000 units of apartments and a $160 million portfolio that averages in over 20% internal rate of return.
In this interview, you’re going to hear, number one, why James believes that there’s a tremendous amount of distressed multifamily assets coming in the next six months to three years. Number two, James explains what he feels is the threat of using a bridge loan to buy a property, especially with increasing interest rates. Tell us about the importance of a debt-service coverage ratio to make sure that you have some cash flow in your deal. Number four, James and I discuss the importance of interest rate versus the cap rate pinch and we discuss what we call the debt trap for multifamily investments. We also discuss his business of being vertically integrated, which is very much in lockstep with what I do in my company being vertically integrated. And finally, we talked to James about why you need to change your network. This is an incredible interview with a new good friend of mine, James Kandasamy, from Achieve Investment Group. I hope you love this interview on Accelerated Real Estate Investor. Here we go.
Josh Cantwell: So, James, listen, so excited to have you on Accelerated Real Estate Investor. Thanks so much for joining me today.
James Kandasamy: Absolutely. Happy to be here, Josh. Happy to add value.
Josh Cantwell: I appreciate that. Thank you. I’m sure our audience is going to love this. James, you’ve got 2,000 units, $160 million in assets. That’s fantastic. But I’m always curious when I meet a new guest, a new friend on the podcast, what’s something that you’re up to right now, like this week, next week that you’re really excited about? Maybe it’s something in the market. Maybe it’s a new acquisition. What’s something that you’re really passionate for?
James Kandasamy: New acquisitions right now. So, we are looking at a few deals right now, seriously, to go under contract soon. So, we’re very excited about these deals because we didn’t do deals for the past six months because we have been underwriting and finding the right one.
Josh Cantwell: And so, looking at those deals, tell me a little bit more about that. What do you think will change some of the things that you’re writing offers on? I’m sure it’s not for the lack of trying, right? You’re underwriting deals, making offers on certain things as a competition, and then there’s a couple of, hopefully, acquisitions that you might get under contract.
James Kandasamy: Just I think our relationship with brokers, right? So, I’ve been always, in the beginning, focused a lot on off-market deals and I do have brokers talking to me. But now I’m a lot more broker relationship-centric. We still look at off-market deals as well but we want to focus a lot on the broker relationship and also looking at other markets as well, other than Austin and San Antonio right now.
Josh Cantwell: Got it. Yeah. Fantastic. So, why the switch? Just to kind of peel back the onion a little bit, why switch from direct-to-seller to working with brokers?
James Kandasamy: It’s not a switch. I think we have like done 10 deals. I think the first two was direct-to-seller and maybe there’s another one but everything else comes to a broker. But a lot of times I think pre-COVID there was a lot of on-market deals where there’s a lot of email blast going on but post-COVID I think there’s a lot of off-market deals happening as well. So, I want to put myself in front of that as well because we’re doing larger deals as well, off-markets probably for smaller deals. And now we’re going on-market as well and we want to grow quickly, scale faster but we want to be very careful because prices have peaked right now, right? We’ve just done with COVID and I know multifamily didn’t crash but there’s a lot of multifamily under stress and that’s all coming onto the market. And the market is so hot. People are putting bridge loans on all these deals and try to get the highest price to buy all these deals. Then we want to be very careful about what we are buying because there’s a good and bad about bridge loans, right? So, we want to be very careful with that.
Josh Cantwell: When you say you want to be careful, just let’s take a little bit deeper on that part of it. What do you see in the market with your experience with all the deals you have? What about the market that maybe kind of gives you the willies a little bit, that kind of scares you that says I’ve got to be careful?
James Kandasamy: Yeah. So, let’s go into detail. So, if you look at a deal right now, a lot of deals are coming out stressed. I know people don’t talk about it, people think multifamily didn’t crash but that is true. Multifamily didn’t crash but there’s a lot of multifamily deals that’s coming which went to a lot of stress during COVID. So, basically, the performance is not that good, right? So, all that deal is coming out as a value-add right now. People say, “Oh, yeah. It’s a value-add. Go and buy. Yeah, it looks like value-add because the price is lower but not super low compared to the performance.” I mean at a performance probably it’d be 4 to 5 cap but because of stress it’s being sold at 2 or 3 cap right now, which is crazy looking at it. So, when you buy a deal at 2 or 3 cap using bridge loan, yeah, you can make the numbers work where a bridge lender is going to say, “Yeah. Okay. You’re going to push all this rent up.” But when you push up whatever value-add that you’re doing, the question is what is the exit strategy? People don’t really look at exit strategy. People can buy, I mean, anybody can buy a deal. There’s so much capital chasing deal. But what’s your goal? How are you going to be buying now and selling it in three years when the bridge loan expires?
I know people say three plus one plus one but the plus one plus one, people don’t realize that it’s actually optional. So, three years on a bridge and you have to make sure you are able to exit after three years. So, it’s very key for you to look at what is their debt-service coverage ratio, how much value-add you are going to be having in the next three years, and what is your cost basis then you’re coming in for this deal. And what is the interest rate, right? Right now, 3.5% interest rate, and can you guess whether the interest is going to go up from here?
Josh Cantwell: Yeah. I mean, everybody says they’re going to.
James Kandasamy: Okay. Let’s say it goes up by 0.5. Now, your DSCR has become more tighter, right? So, on the bridge, they don’t really look at debt-service coverage ratio but on a long-term loan, yes, they do look at debt-service coverage ratio. So, there’s only two options, either you sell or you refinance into a long-term. So, we are more longer-term holding people. I mean, I probably will sell after three years but, no, I do not want to bang on selling. I don’t want to bang on appreciation in the next few years. So, I always look at one of my exit strategies. Maybe I can sell but maybe I can refinance. I don’t want to just sell because you don’t know how the market’s going to be in the next three years. With interest rates inching up even 50 basis points, a very small interest rate increase, which is possible for the next three years. You can get caught on that bridge loan acquittal and you probably will have to sell the deal. If you don’t sell, if you want to refinance, let’s say your execution plan didn’t work, you refinance and your DSCR is too low, now, you have to bring money to the table to go to the next loan. So, I call it a debt trap. So, you have to be very, very careful nowadays. I mean, all brokers telling me whenever I go in for a loan, everybody’s doing a bridge loan. Now, since start of the year, I already do bridge loan. So, they’re already conditioning all bias. You have to do a bridge loan but bias can buy but what is the upside? Is that true upside when you buy it at a certain cost basis? Are you really getting true value? A lot of things I see you’re doing so much value but you’re ending up into the market cap rate in the next two years. What’s the point of doing so much of doing that, right?
Josh Cantwell: Right. What’s the point of doing all that?
James Kandasamy: Yeah. Buying at a two or three cap on the name of value-add and after the value-add’s done, you add market cap rate.
Josh Cantwell: Yeah.
James Kandasamy: But people don’t really see all that. I just want to close on deals because so many people are hungry for deals and people are being very aggressive right now because all investors are pushing on.
Josh Cantwell: So, James, what do you think will happen if assuming interest rates go up, assuming cap rates eventually go up? You know, there are these multiple conversations going on in the market. A lot of people are saying, “Well, inflation is coming so buy the asset,” but I think the mistake people are making to you already alluded to is saying, “Buy the asset. Let the Federal Reserve, let the federal banks, let the government, just let this inflation happen and your asset will go up in price.” But if you get the wrong kind of financing, i.e., a bridge loan, and then that bridge loan gets called three, four, or five years from now and you can’t refi, the interest rates are higher. That was the debt trap that you just referred to. So, what is the solution? The solution sounds like buy the asset but buy with permanent financing and maybe forecast a little longer ownership to your equity investors or limited partners. Maybe forecast them. Instead of a three-year hold, it’s going to be a seven-year hold. What are your thoughts on that?
James Kandasamy: Absolutely. Yeah. If we can get permanent financing, that would be the better situation. However, you have to understand brokers are already telling more buyers, “You want to win this deal, you have to bridge loan.” That’s what they are telling their sellers. They are forecasting very high price to their sellers. Even within brokers, there’s a really big bidding war, which broker is going to get this listing and our brokers putting all high prices and all the sellers are getting these big numbers from one’s brokers. So, the only way for brokers to meet – their commitment is to get a buyer who was going to go bridge loan. So, it’s a very tricky situation for everybody, brokers included, because now they have to keep on doing business by promising high prices. Sellers have this high expectation right now. They know inventory is so low. They want a high top dollar for their deals. Buyers are going to do bridge loan and Federal Reserve is going to – it’ll probably reach up 0.5% interest rate. Cap rate may not come down. Cap rate maybe stay on but even if interest rate goes up a bit, you are at a pinch where interest rate is going up but cap rate is coming down. So, that’s the pinch. So, I think that’s a death trap. I think there are some people who are going to be caught in that trap over the next three years if they don’t buy right, if it’s a bridge loan.
Josh Cantwell: Yeah. I would rather buy the asset and pass on dozens and dozens of deals if I had to just by a couple, right? That makes sense. I just had a call with my broker, our lending broker a few hours ago. It’s interesting. We bought a deal for 9.2 million almost exactly two years ago. It was August 2019. We fought through COVID. The assets still performed. We just got an appraisal done at 13.3 and then we got to reappraise some adjustments. They bumped it up to 13.5 million. So, actually, the pro forma that we pencil it out at would be 14.2. That’s the value we wanted. And again, there were some vacancy. We weren’t able to bump the rents on all the units because people wouldn’t let us in their units because of COVID, right? We couldn’t even get in to do the value-add improvement we wanted. Anyway, long story short, it’s funny because we pro forma out an interest rate of 5.25. Interest rates jumped all the way down to 3.25. And now they’re inching back up to we’re going to lock in about 4, 4.25, 4.19, 4.2.
James Kandasamy: You guys are doing a refi?
Josh Cantwell: Yep. And so, this is a refi. It was a bridge loan from two years ago. Obviously, the situation as far as values going up, great, but had to fight through COVID at the same time. But just that whole change of 5.25 down to 3.25 back up to 4.25. And so, what’s the lesson here? The lesson is you have to build in and stress your deal all the way through to make sure it’s a deal that you still want. Because when you buy a multifamily deal, James, as you know, you’re married to that asset for years and years and years. Easy to buy. It’s tougher to manage, tougher to property manage, tougher to refi or sell. Easy to buy. Like anybody can buy. I’m surprised our banks have been blown away by how much money they’re just throwing at us to buy deals. Crazy, crazy stuff. So, James, just to kind of take coverages a little bit further about your strategy, what’s the best way? What’s the best structure for you? What is your favorite deal to buy? Kind of what’s your moneymaking strategy as far as structure? You bring in limited partner syndicate? Tell us a little more about the favorite deals you like to take on.
James Kandasamy: Favorite deals would be deals with upside where we can go and add value with our own skills and our own value proposition. So, we are a vertically integrated company. We have our own property management, asset management, construction, everything else. So, we look for deals where we can go and we don’t mind buying at a market cap rate but we can go in and increase that cap rate to a much higher, one or two basis points, or not basis, 1% or 2% cap rate increase in the next few years. So, basically, we want to use our skills to increase that value, not like market appreciation. Market appreciation is icing on the cake.
Josh Cantwell: And for you, when you say you’re vertically integrated, I know what that means. Just explain that to our audience. And even when you’re vertically integrated, we’re very much the same. We own property management company, construction company, we buy the asset too. Usually, within that skill set, there’s a couple of things that an operator is really, really good at. Like, they have a special like a superpower. So, help us understand when you say, “We’re vertically integrated,” what does that mean to you? And in your business, what do you think your superpower is?
James Kandasamy: So, our superpower is, I mean, so let me define words vertically integrated. Vertically integrated means we do the whole thing, A to Z. We find the deal, we finance the deal, we raise the money, and we close the deal, and we do asset management and procurement and construction as well. So, it’s all within my control. I can make a call right now and fire one of my employees if I need to or if I can get more details on some problem that I have if I want to solve on my cell phone.
Josh Cantwell: Yeah. You’re fired.
James Kandasamy: Yes. If they are not doing good, my investors are not happy so all within me. It’s one that you can point finger at anyone else. So, if you see a lot of times, as you say, multifamily is not an easy asset class to manage. It’s easy to buy but it’s hard to manage. When the rubber meets the road is when you need to give back returns to your investors. And there’s a lot of moving knobs. There’s 1,001 knobs to be turning to increase their income and to reduce expenses. However, it’s one of the most resilient as well during downturns. But anyway, coming back to the questions, so our superpower would be like me and my wife. We are the principals of the company. So, I’m really good at finding really good deals, underwriting it, and raising the money for it. She’s really good at managing and construction. So, it’s a good partnership with my wife. I think I would say that both of us are very strong at what we do.
Josh Cantwell: Nice. That’s a great one-two punch. I love it. Tell me a little bit more about the structure of your deal. Do you buy, bring in limited partners? How much of the deal are you kind of giving up to them? What kind of pref returns or returns you’re trying to hit for your limited partners in that structure?
James Kandasamy: So, we try to hit mid-teens, mid to teen IRR for our investors. We usually do like a waterfall structure, 7% to 8% pref return, and we do a 70/30 split. And if it goes beyond that, that’s probably we’ll go to like 50/50, I mean, just pushes the sponsor to perform much, much better when we create these structures. In the beginning, I used to do 80/20 straight splits, but I realized there’s a lot of– I mean, I don’t know what you talked about it. I mean, I do have my own book, Passive Investing in Commercial Real Estate. So, I did look, analyze both approaches, both as pros and cons, but I realized with the deals that we do when it’s very heavy value add, the waterfall structure where we give a profit and sometimes there’s no return at all for one year.
But if a pref, my investors are happy, but 80/20 is like you go. If you do very well, everybody’s happy, but if you don’t do very well, everybody else is not happy. So, based on a pref, at least we do have some kind of preference for the investors to get 7% to 8% return, even though there’s no cash flow. So, it really becomes a very strong structure for our investors because now, we put investors first. So, that’s how we structure our deal on a usual basis.
Josh Cantwell: Got it. Love it. James, I’m interested to kind of hear your projection of what you think is going to happen to the rest of this year. And let me preface it by saying this. We’re seeing a historic amount of deal flow right now. And I think it’s because of two things. Last year, COVID was like pencils down. A lot of people weren’t buying or selling. So, a lot of that deal flow got pushed to this year. Now, with the possibility of the divided administration getting rid of the 1031 exchange or increasing the capital gains tax or getting rid of the step-up in basis, you’re hearing people talk about deals that may not have traded for three, five, seven years from now. They’re trying to slam them into this year. So, I’m predicting a historic number of deals to trade and sell in the next seven months. What’s your take on that?
James Kandasamy: I think certainly, that’s going to be a lot of deals being traded as well. I do think that single family, that’s going to be a shake up on a single family. I know right now, prices are high. There’s not inventory and all that, but due to the forbearance expiring and all that, I think that’s going to be some single family going to foreclosure, some single family is too expensive to buy, which gives a lot of benefit to multifamily because if you can buy, you have a good rent, right?
Josh Cantwell: Right.
James Kandasamy: I think so, multifamily is kind of going to do well, but there are people who are in distress. It was going to be like trying to sell their deals at really crazy prices, crazy high prices. So, whoever buys it needs to be very, very careful as what we talked about in the beginning. You can get a bridge loan and buy a deal at a great basis, but are you buying it at the right basis that you are able to capture back that value add in the next few years? So, that’s very key.
So, there could be people who are buying it wrong as well. At the same time, I don’t think prices are going to come down, but I think it creates a really good opportunity for people to buy and continue to have multifamily as part of the portfolio. Having said that, if the 1031 is going to be abolished, I really don’t really focus on 1031, what’s happening in the market because a lot of times, we can’t control what’s happening, so.
Josh Cantwell: And it’s like the one’s been under pressure for like 50 years, it seems like forever. Every administration is slightly different. Why do you want to get rid of 1031? And then you realize all the rich politicians, they all use the 1031, so they’re not going to get rid of it.
James Kandasamy: They’re not going to get rid. That’s what I’m thinking probably, they’re not going to get rid of it, but if it gets abolished or becomes limited, like $500,000, I do think that prices are going to keep on going up because there’s not going to be a lot of sellers in the market. People like to refi or keep it for long-term cash flow. I think so. So, all in all, I think multifamily prices are going to keep on going up, but I do think there’s going to be distressed deals still coming up out on the market because now, COVID is going away. People are, oh, basically, let me sell you now. It’s going to come up as well.
Josh Cantwell: I agree. I think there’s going to be a lot of, I guess, for lack of a better word, cowboys who just come in that aren’t underwriting properly, that aren’t stressing their deals, that hear podcasts like mine and yours, and they’re like, oh, this is all. I could do this. And they buy the wrong deals at the wrong price. They’re not careful, like we’ve been talking about. And then, really strong operators like you and me are going to have more inventory because those deals are going to be distressed two years from now, three years from now. And that distressed deal, we are going to make sure you don’t put like dumb money after dumb money and buy the deal again in a stupid way. There’s always going to be room in this market.
I think the message here, James, for me when I’m talking for our audience is always going to be room for good operators who know how to buy the asset the right way and manage it the right way. And if they can’t, they’re going to win long term. And regardless of what’s happened with interest rates, cap rates, 1031, it’s still going to be a winning asset class. James, I’m interested to hear more about you, about your start. Everybody is kind of getting going. There are always initial challenges, that first deal, you kind of buy the first deal, again buying the easy part. Then you get into management like, holy shit, why do I do this? So, tell me a little bit more about your start. How did you get started? What were some early challenges that you faced?
James Kandasamy: Early challenges, I mean, as you said, the market is hard, it’s going to go hard, and it has been hard for the past 10 years. The other day, I was talking to someone, oh, James, I can’t find deals. So, I look at something else and also, I look at this asset class. It has been like this for the past 10 years. It’s always been hot. Just as Ryan says, it’s been going up, compressing, but it’s not like 10 years ago, it was easy. If any of your audience were listening, think that, oh, this guy started like five, six years ago, and prices are wrong. Actually, you are wrong. I don’t know how you think like that, but when I started in 2015, it was really hard. I cannot find deals. For me, everybody was still looking at the same deals.
So, how we got started was to do things differently. And even now I think you have to do things differently. Don’t be the same as what everybody else is doing. Don’t look at the deals that everybody is looking for because that’s the same thing in 2015. So, when I started, I started with single family and at some point, I’d say, I’m done with single family, I’m going to go to multifamily. The next six months, I’m going to buy one multifamily. And I went to all the brokers, and nobody wanted to listen to me because there was a new guy coming into the block, which is the same thing right now. When a new guy contacts the broker, they’re going to give you the worst deal, which nobody buys. So, they just don’t really seem to be. So, we started doing all market marketing at that time because that’s how I did it in a single family. And with all market marketing, like yellow letter marketing or cold texting or cold calling, we found one deal, 45 units, and that was the start. So, we chose to be different at that time.
Josh Cantwell: Got it. Love it. So, you use your residential skills, right? Direct mail, cold texting, cold calling, relationships to get in the business. That still works, right?
James Kandasamy: Yeah, absolutely. I mean, even brokers nowadays, if you go to multifamily brokers and you talk to them, how did you guys get started? They’re going to say the same thing as what I told you just now. We keep on calling all sellers because that’s how people get started. You have to make those difficult calls, the difficult effort of generating leads. Nobody is going to come and say, I like company A. I’m going to get listed with them. There’s so many brokers out there. So, every broker has to work hard the same thing as buyers when you want to get started. You have to work hard to find deals.
Josh Cantwell: That’s right. Absolutely. Love it. So, James, now that you’ve had success, 2,000 units, $160 million dollars, partner with your wife, fully integrated, you’ve accomplished a ton, you’re in two very up-and-coming markets, San Antonio, Austin, and so on, what advice would you give your younger former self, like the five years ago, 2015 James? Or what advice would you give to our audience, things that you’ve learned along the way?
James Kandasamy: It’s always hindsight 2020, right? What we could have done differently. And I think I wouldn’t have given any different advice, just keep up the good job. At least, you did something, right? I mean, in the beginning, I was a W2 employee. I mean, you are just looking as an employee and you never think out of the box. So, I think the good thing I would say, advice to anyone who is trying to do things differently from what they are right now. It’s not about multifamily or real estate or becoming a success. If you want to do something different, really make sure that you go out of your network to go and find that information, because within your network, you have the same information.
If you are within our W2 employees, I’m going to talk about (A) when I’m going to get promoted, how long am I going to go to this company, which company can I go to or this project is happening, this meeting is happening. This is all talk about the same thing, but do you have to go out of that network to a different circle of people to say that, okay, now, there’s new information coming into my ear, which is talking about a business, about real estate. So, when you go to that level, then you can make a difference in your life.
So, first of all, I think anyone who wants to make a change in their life or start their life, you have to decide whether you want to change your life or not. Are people happy where they are? So, if you are happy, you just keep on being happy. If you are not happy, then you try to get out of your current network and go get different information. And the way to do that is very simple, just go to Meetup.com, look for Meetup of topics that you want to go and do. If you want to talk about investing or Bitcoin investing, then look for Meetup in that area. Like real estate, go to Meetup in your area that talks about real estate, and start getting information.
Josh Cantwell: Love it. I love the advice. Change your network, right?
James Kandasamy: Change your network, yeah.
Josh Cantwell: Change your network. Everyone talks about go network more. This is really the first time I’ve heard somebody say it was not just about networking within your network where you’re going to hear the same thing you’ve always heard, like change your network and go expand. I love that, James. So, James, the final five questions. You’re ready for these?
James Kandasamy: Yeah, absolutely.
Josh Cantwell: Alright. Number 1, your favorite way to find multifamily real estate deals.
James Kandasamy: Now, it’s a broker relationship.
Josh Cantwell: Got it. Favorite way to find capital, capital for your capital stock, whether it’s bank loans, mezzanine, bridge, equity, or limited partners, what’s your favorite way to find capital?
James Kandasamy: Right now, it’s just a normal Fannie and Freddie Mac agency loan. And I get equity from my investors.
Josh Cantwell: Got it. And how do you meet more investors? What’s your favorite way to meet more people?
James Kandasamy: By adding more values. So, we add more values to Facebook, LinkedIn, and through webinars. And when you add more value, the investors will be attracted to you. And they say that you are really helping them get knowledge.
Josh Cantwell: Love it. Love it. Yeah. So, some sort of thought leadership platform sharing on social media is great stuff. James, what’s your favorite book or your favorite piece of advice that you’ve ever been given?
James Kandasamy: Favorite piece of advice– favorite book, let me finish the favorite book. Favorite book is Think and Grow Rich. So, that’s one of the best books, even though it’s very hard to read and understand, but if you read it many times, it’s aligned to a lot of the successful people that have read that book and are successful. Favorite advice would be, it’s all in your mindset. If you think you can do it, you can. If you think you can’t, you can’t do it.
Josh Cantwell: Yeah, absolutely. Love it. James, who do you think has had the biggest impact on your life? Who’s a mentor that you’ve had, a leader that’s had a big impact on your life, and why?
James Kandasamy: Oh, mentor, there’s no one real mentor in my life. So, I would say it’s multiple mentors. I mean, different people who I watch differently. And I just see how they are doing things differently and why and try to capture how they become successful. So there’s not like one person, I would say, but multiple people who I see as well. And that they mentor everyone, like you could be a mentor to me, too. You could say something that I never thought about. And I’d have to think about what did this person think. Everybody is a mentor.
Josh Cantwell: Yeah. I love the fact, James, that you brought up many times in this interview to think differently, get outside of your box, grow your network differently. When you make offers, think differently. When you have your business, think differently. That’s, I guess, a big theme of this podcast is just doing things differently, setting yourself aside, yourself apart so that you can have your own kind of unique custom business and your own unique experience as an entrepreneur.
James, final question. What’s your favorite place to think? Like, as an entrepreneur, we’re always busy underwriting deals, finding deals, acquisitions, raising capital, spending time with your wife, your family, your wife is a partner of yours in your business, everybody’s got to get away, everybody’s going to have some time to just process what the hell is going on and think about what’s coming around the corner, like what’s the biggest blind spot you have in your business, what’s the way to you decompress, get away from your business and think?
James Kandasamy: A small meditation. Just go inside and think about yourself, are you really utilizing all your potential? That’s the favorite way of looking at it is to meditate and figure out whether you are really utilizing all your potential.
Josh Cantwell: Love it. Love it. James, listen, fantastic stuff today. Love this interview. Love the theme of thinking and doing things differently. Thank you for that. I’m sure our audience is going to want to connect with you, learn more about you, and find you. Where’s in different places that they can engage with you online?
James Kandasamy: I mean, my website is Achieve Investment Group, like A-C-H-I-E-V-E, AchieveInvestmentGroup.com. I do have my own book, which is a best seller on Amazon. We have sold more than 2,000 copies on it. It’s called Passive Investing in Commercial Real Estate. So, it’s like 20 bucks on Amazon, but you can go to this website to get it for free. It’s called PassiveInvestinginRealEstate.com, PassiveInvestinginRealEstate.com. Go there and get the book for free. You get the physical book. I think you’ll pay like shipping of $4, something. Otherwise, anyone who wants to be a passive investor, it’s good to read a book because you’re going to be spending a lot of money on investing passively. And if you do not know the fundamentals, it’s going to be a waste. And we have a lot of 5-star reviews on that book as well. So, check it out and see it.
Josh Cantwell: Awesome stuff. Listen, James, it’s been a fantastic interview. I had a great time today. Thank you so much for joining me on Accelerated Real Estate Investor.
James Kandasamy: Thank you.
Josh Cantwell: Well, there you have it, guys. Listen, I hope you enjoyed that interview with James. That was so much fun. It turns out, James and I were getting prepared for this podcast, and we’re very much connected to a number of the same people and some of the same networks, the same Mastermind groups and coaching programs and those kind of things that we run. So, super happy to have him on the podcast. If you enjoyed it, make sure you leave us a 5-star rating and review. Don’t forget to hit the subscribe button wherever you catch your podcasts, whether it’s on iTunes or Stitcher or SoundCloud, wherever it’s at, hit the subscribe button. So, you get that little notification, that little ding. Every time we release a new episode, I’d hate for you to miss it. Also, don’t forget to subscribe to YouTube. You can catch these interviews on YouTube as well.
And listen, just share this. Do me a favor. Share this wherever you can all over social media just to help us build the Accelerated Real Estate Investor community. Finally, if you haven’t already, don’t forget to join our free Facebook group. Alright, go into Facebook and look up Accelerated Real Estate Investor. You can join our free Facebook group where we share deals, we share ideas, strategies, answer questions, and do Facebook Live right inside of that Facebook group. So, there are lots of different tools and resources there for you. They’re absolutely free.
Now, one more thing. We have stood up in just the last couple of months, our Mastermind group, we call it the Forever Passive Income Coaching and Mastermind. I’ve been running the Mastermind group since 2006. And really, for the last two years or so, we’ve stepped away from our coaching and education company to really focus on our multifamily deals because of COVID. Well, now, coming up, we are now hosting our Mastermind again. This is really designed for intermediate to advanced investors. It’s designed for people who are great at finding deals and people who– again, like James talked about in this episode, people that are looking to change their network, people who are looking to kind of give it a seat at the table with a new group, a group that’s achieving more, that owns thousands and thousands of units of apartments and multifamily, but that also has the capacity to sponsor loans, raise capital, co-syndicate.
So, if you want more information about this Mastermind, again, this Mastermind is not free. Frankly, it’s sort of expensive, but it pales in comparison to doing one multifamily deal. If you’re interested, please go to FreelandVentures.com. There you’ll find information about our coaching and Mastermind. Go in and fill out the application, and we’ll see if you qualify. If you do, I would love to have to meet you face to face at our next Mastermind meeting. So, there you have it, go to FreelandVentures.com, search our Forever Passive Income Coaching and Mastermind, and hopefully, we’ll see you at our next event face to face. We’ll talk to you then. Take care.