Show notes
GUEST BIOSergio Altomare joins us in the lab to share some solid real estate ROIs. One of the first lines in our interview was “we like to take people’s capital and make it worth a lot more’. Sergio and his wife Corinn Altomare have partnered up under one roof (literally) to help others close in their circle get a greater return on their capital through the real estate model. They both primarily started in the greater Philadelphia market, while having expanded their multifamily investing to more unique models in commercial real estate such as self-storage units, RV and campgrounds.Prior to becoming a full-time real estate investor with his wife, Sergio's path began as a technologist for the Federal Reserve for over 20 years. His expertise there was in all facets of technology that led him to take on projects and implemented systems with over $100 million in budgets.Now, Sergio and company at Hearthfire Holdings, LLC have over 300 units and $10 million in assets under management. They’ve raised over $2 million in capital and exited several assets at an average of 25% IRR. Sergio has also flipped houses, completed many rehabs, and participated in multifamily development with Corinn.If you’re interested in hearing how Sergio and Corinn started house hacking with a triplex, sold a few of their properties and then pivoted to syndication, property management, self storage and left their full time jobs to pursue this opportunity together full time. Then you’ll want to tune into this episode.HIGHLIGHTS OF THE EPISODE02:06 Background of the guest - Sergio Altomare11:07 Pipeline of Deals13:15 Having an Efficient Cash Flow16:25 Zoom Open House TourKEEPING IT REAL20:35 Scaling the Property with the use of Technology30:07 Why Owning a Storage Units35:48 Self Storage Investing37:53 Opportunities in the Self Storage Facilities40:05 Factoring Supply and Demands43:42 Duration of Storage TenantsANSWERS TO THE RAPID FIRE QUESTIONS IN THE SHOW:50:48 Favorite Book - Rich Dad Poor Dad by Robert Kiyosakyi | Think and Grow Rich by Napoleon Hill51:46 Best Habit - Meditation | Journaling51:55 Best Tool - Journal | Planing 2 to 3 days in advance52:13 One 300 Unit apartment building or one 300 unit storage facility - managing storage facility52:44 Class A or Class C - Class CBOOKS MENTIONED IN THIS SHOWRich Dad Poor Dad by Robert KiyosakyiThink and Grow Rich by Napoleon HillNOTABLE QUOTES (KEY LESSONS):“If somebody sends an inquiry on a property, you have to get him back immediately if not, sooner. A potential tenant wants to hear back in an hour or less, if not, chances are they’ve moved on.”“If you want to do a good deal, you have to get deep into the weeds. You can’t cut corners. There’s so many books out there that have written the instructions on how to analyze properties..”CONNECTING WITH THE GUESTEmail : [email protected]Website | LinkedIn | Biggerpockets
