From Teen Entrepreneur to Real Estate Investing Maven with Jazmin Salinas

Hello, Freedom Nation. It's Jeff here once again with the freedom nation podcast. And on today's show, we're going to be talking about multifamily real estate. I'm interviewing Jasmine Salinas. Jasmine started her career at age 15. starting companies where she actually had employees. She took the money that she made from those businesses and started investing in real estate. And after about four years, she began to invest in multifamily real estate. So I hope you enjoy this interview as much as I did.

Welcome to the freedom nation podcast with Jeff Kikel . On this show, Jeff shares his expertise in financial and retirement planning from a different perspective, planning for your Freedom Day, which is the first day that you wake up and have enough income or assets and do not have to go to work that day. Learn how to calculate what you need, how to generate income sources, and listen to interviews from others who've done it themselves, get ready to experience your own Freedom Day.

Hey, everybody, welcome to the Freedom Nation podcast. This is Jeff. And today, we get to talk a little bit about real estate and a little bit about cash flow. And I have my guest, Jazmin Salinas on Jazmin had a company since she was 15 years old, she started off saying, hey, I want to start a business. And she's never looked back since. And I'm really looking forward to that conversation we're gonna have today, Jazmin, welcome to the show, my friend.

Jeff, thank you so much for having me. It's a pleasure. I'm super excited to share with you and let's get started.

Love it. Let's kick off with a quick introduction of your story. So tell us how you got to where you're at today.

Awesome. Sure. So I always wanted to open my business. Since I was a little girl, I was always selling and doing something. When I was 15, I started my first company, I'll hire my first employee, and just like you sell and never look back. And then I was just saving money. I wasn't sure what kind of business I was gonna start. I just knew that was my venue. So I was just saving money. And four years ago, I have 45,000 on my bank account, and I was like, What should I do? I don't want to have the money. The bank is not cash flowing. It's not doing anything. Why should I do? So I was like, what I figured something out, I'm just gonna buy a piece of real estate. So what I saw what I bought, it was a piece of land because I didn't know anything. I didn't know construction, anything. I was like, this is easy, doesn't require anything on me. And then I'll figure something out later. So bought this piece of land. And that was my first real illustrators section. Nice. But a couple months after I got the opportunity to do sales for a real estate investment firm. Nice. And it was a no brainer. For me. It was like I was super excited because they were gonna teach me everything about real estate. So I was like, let's do it. And I realized that I didn't get such a good deal on my piece of land. I pay higher than anybody else in the neighborhood. It was on the floodplain and I was like Good lord. So what I did just sell I sold that piece of land right away. Bought it for $40,000 for 45. Different rule number one when you invest nevertheless,

make a profit even if it's small. Exactly. So

solid and after that I was like okay, now I have money in the bank. What should I do? And here I am four years later doing the same thing over and over again, unless you and I started in multifamily.

Okay. Now how large of multifamily have you been doing?

How large anywhere from the biggest multifamily apartment complex? We have is 418 units were closer? Yeah, last December. So that's the biggest property that we have. But a just like last year, we closed on 880 units this year. We are already on the 1100 units.

That's awesome. Now, are you doing this through a fund or through a real estate company? Or how you doing that? Know through syndication? Okay, great. Now, did you have Sar? Are you working with a partner in that syndication? Or did you just do this all by yourself? Yeah, it's a partnership

Massive capital and we all came together. It's five of us and then all the team members who started this

That's fantastic. Just from the simple fact that you're starting that so early in life. A lot of people go through the the first few years of single family until they finally get tired of dealing with tenants and then start to shift into that gear but you started much faster.

Yeah, I'm so glad you brought that up because I actually so after going land I was like, What should I do next? Should I do fixin flip Airbnb, all these strategies that you can do in real estate? I was just exploring every single thing like, what should I do next. And I came across multifamily as attend to one of the real estate summits. And it just made sense to me. And I was like, hold on, you're telling me I don't have to go through all the hassle of fixing and flipping and dealing with tenants and all that. And I can just go straight to multifamily and was very intimidating because at the beginning, I thought I had to have 50 million in my bank account in order to purchase this properties, and all that, but it's a team sport, like you just need to connect with the right people. And it's just a lot of mindset. Let's just go for it. And most of the mentors that I had, I was just hearing over and over again, like they started in single family, and eventually they ended up in multifamily, just for how quick you can scale the tax benefits so many things that we will get deeper, but it just it was to me was like okay, this is a no brainer sense to me on every single aspect. So that's why I went just straight to multifamily.

I love it. I love it. Now, had your family done any type of real estate before? Or was this your the first one? No, my

Dad, he has some real estate but no multifamily. So he's actually more than the simple fix and flip to short term rentals land, because being the hardest for me to convince, and it's like, let's get in multifamily as a family. But eventually, hopefully,

Me it takes a while. I think I spent 20 years in the investment industry before my parents moved their accounts to me. They just they know you and they saw you in diapers. So they're out you're always going to be their kid and not the expert that you are at this stuff. Exactly. Talk a little bit about if somebody sitting out there and they're like, Okay, they were you four years ago, they've got $45,000. And they're trying to figure out what do I do I want to get into real estate? How would you suggest that they start to figure out what type of real estate they want to get into?

That's a great question. One of the things that I always say the first thing that you need to invest this in yourself in knowledge. And of course, once you understand all the venues risk of real estate, one of the things that you need to consider is where you are in the journey. How much risk can you take? How much time do you have? How much money do you have? This 50,000 I mean, for the college girl, high school girl, it's a lot of money. But if you're getting in real estate isn't that's nothing like you're gonna need a lot of money. It's one of the things that I like to ask my investors is like, how much risk can you take, for example, in multifamily? Where did you in the journey? Do you need cash flow? Or do you need more appreciation? For example, if you have a W two job or a business that is cash flowing, you don't really need more cash flow, however you need your money to double or triple B in a short period of time. So by the time that you are getting ready to retire, send the kids to college or whatever goals you have, you already have the compound effect of investments. So that's why I like to like the first thing like you need to understand where you are and what you need. If it's a person who is getting ready to retire. Or, of course you will need more cash flow. So everybody's on different journeys. And it's very important to understand where you are so you can find the right the right avenue for you.

Yeah. Now in a typical syndication, I know we've had we've talked to a couple syndicators on here. In a typical syndication, do you have different tranches of money inside of that syndication that some are more for appreciation? Some are more for the income side or is it really everybody is in the same tranche?

No, it depends on the deal. Okay. So there are deals that are very like cashflow heavy, there are deals that are just like depreciation, they don't fields that give you a lot of depreciation, people who already have business or other investments. And you don't want to pick one of the benefits of multifamily is the taxes that you can write off. Yes. So let's say you invest 100,000, you're able to write off up to $65,000 at the end of the year, either. Depends on where you are. Yeah, absolutely. And every deal is different with one of the things that I tell people is one of the benefits of working with us with massive capital is that we have so many deals like right now we have four active deals where people can put their money. I like take the time to understand where you are on the journey so I can put you on the right deal is not just this deal, because I'm racing and once your money here. It's a win win for both of us.

So what markets are you working in Currently,

We are in Texas, in Georgia, North Carolina and Denver. I'm looking to expand to Arizona and Florida. Target

Very cool hot markets right now too. For a lot of this stuff and a lot of markets where there was some old, a lot of the old properties and things like that can be redone and add volume. Yeah, absolutely. When you look at your future, but is it going to be staying in the multifamily space? Are you looking at other areas as well, from your Personal Capital standpoint?

So to me, personally, I'm doing this because so first of all, to me is the best investment, leisure is all the benefits of investing passively, like right now I'm an active investor. With that said, I'm in the table, and I'm making sure all these deals go through. But eventually, like, I would just want to be totally free and receive my cash flow every month. That's what I'm doing a lot of heavy work right now. So mentally, I can have that freedom.

You have that active income to build your war chest, and then you get to enjoy it much later on, and continue to use that. So I love that idea. So for somebody that is sitting there and going, You know what, I don't really have any money, but I've got some retirement money. And that's it. What are your suggestions? When it comes to that? Is there a way for them to use retirement dollars to invest in real estate?

Jeff, that's a great question. And I always tell people, yeah, you can invest your retirement account in real estate. And the first thing that I always tell people is, go and check on the performance of your retirement accounts. There are trillions of dollars sitting on retirement accounts are performing. And you're able to use our retirement account and put it in a real estate investment. So your money is appreciating double digit returns in five years, by the time you're ready to retire, that money is gonna just grow so quick.

Yeah, absolutely. So how is that typically done? Let's say you've got your account sitting in a brokerage firm? How would would somebody invest in real estate through that? Could they invest directly through the brokerage firm? Or how do they have to do that,

We always have to roll over that money into a self directed IRA. So it has to be through a Roth IRA. So what we do is we don't do it ourself, we work with a company who can help us with a rollover, and they just roll over that money into a self directed IRA is like a third party, because if we accept the money, you will have to pay penalties taxes on a lot. But why is so good is because you don't touch the money, that money goes to a custodian, and the custodian invest the retirement account into real estate assets. And then when we will distributions all the cash flow, when we sell the property, all the money goes back. And one of the things that I like to say to tell people is, let's say you invest $100,000. Today, most of our deals is a two times equity multiplier, which means doing this $100,000 Today in five years is gonna turn in $200,000. If those $200,000 You don't ocean do invest them again, in five years, you have $400,000 400 turns in 800. And that's where the wealth gets created, the freedom gets created. It's all the compound effect of investing and reinvesting. So by the time you're ready to retire, and you're gonna live the great life,

yeah, you can still invest in that even after retirement. It's not a it's not an either, or you can just switch gears a little bit and say, I want to focus on the deals that generate more cash flow than growth or doubling of my money. Because I'm typically take a little bit more risk in those growth type investments than I will, in the in the more income oriented investments.

Exactly. I always tell people like it's important to diversify your portfolio. So all kinds of assets or just keep some money in the retirement account. And the less the more different diversification you have, the less risk

Salutely If you look back now, you haven't been doing this a ton of time. But if you look back now, and you were to say, I should have done this or that, what would you advise your four years ago self at this point,

Just to start sooner, on things that are gonna create a longer term wealth when I was doing land, it was just like buying a result get rich quick and nothing, but I wasn't building anything for the long term. So that's why I started, you know, exploring and multifamily was the vehicle that I knew was gonna take me for the long term wealth or the student. I wish I had started four years ago. Yeah, four years ago if I had started with those 45,000 right now oh, we close to 1000. Now,

What's now let me ask you this question. What was the ways that you learned how did you learn about all this? How do you educate Get yourself on real estate and specifically on the multifamily side?

That's a great question. When I attended to this real estate Summit, that was when my third eye open, and I understood everything, like the high level of how everything works. And after that, I just, I'm just gonna find my way through, I used to start connecting with people who weren't already doing it, I start attending to all these workshops, masterminds, you still learn more, and I still do it. And every time I go, I learn more, and I connect with other people. But the most important thing is I just set my mind to this is what I'm going to do. And I'm gonna connect with the right people who is already joining. Because like, I was thinking, like, this is so overwhelming. And if I wait until I can buy my own multifamily property, it's gonna take me 100 years.

First, yeah, you're gonna do what a lot of people do, okay, I'm gonna start doing flips and flips and all are wholesaling. And, but it takes them a long time to get to the point where they get enough capital together, or they get frustrated enough where it's just okay, I'm tired of cleaning toilets. I'm tired to do and all this stuff, and then they blunder into to multifamily. But I think that's the thing I get from you more than anything is you started building the connections that helped you to get to where you're at, you don't have to know everything. In fact, you don't have to know a whole heck of a lot. You need to just get around the right people that can help you and help point you in the right direction.

Right. So when I actually approached, so I started connecting with the people that I thought it will be a great fit for me and vice versa. I approached Chanel, I told her like, Listen, this is my skill set. My background is all sales, leadership and my business degrees. I got two business degrees and all that. So I was just so this is my skill set. Do you think I can add value to you in the multifamily I want to get in multifamily. You think I can add value to you? Most of the time people come to us as like how can I add value to you? No, you need to understand what your skill set and apply it to watch one and two. In this case, it was like my background is on sales business. How can I add value and get into this industry?

Yeah, absolutely. I think that's one of the most important skills we all have to develop is understand what our skills are how we can contribute. And I think you went at it right coming into it and saying, You know what, here's what I do best? How can I fit that into your world. And it's much better than, hey, I want to learn all this stuff and just teach me all this, what can you do to add to it overall.

And when I came with my partners, I was just like, I will do anything, just by being part of your table, like, just by listening to your conversations, I'm already winning, because I'm already learning. So I was just like, putting systems hire MBAs putting all the documents together and all that. So that's how it started. Let me just say the value to you while I learned and I knew like the knowledge, no one's gonna take that away from me. If at one point, this partnership does some work, nobody's gonna take away from me what I have learned, I can go anywhere. Of course, I landed in great hands and people who are very good, like minded people, same goals and vision. And of course, I'm just gonna stick it around here,

Now and it makes complete sense. And I think you came at it with the right attitude, hey, I'll do whatever I need to if I have to sweep the floor, I'll sweep the floor. But let me let me add value wherever I can. And let me get this knowledge. And you're right, I think back to the book, Chris Gardner wrote during the economic downturn in 2008. So the thing that I got out of that book more than anything was he was talking to a young investment guy that was literally going home on the subway with his box from being fired. And he can't, they can never take away, they can take your job away. But they can't take away the knowledge that you have and the experience. So take that and use it some other way. And you'll be there and you and you've had those years of doing your own stuff as well. But I think more than anything is don't let age. get in your way. And you started very early and saying, Hey, I saved up this money. Now. I want to make it work. And whether you're older, whether you're younger, take her into account that she just got started. And I think that's the most important part of it. Your first deal worked out it just didn't work out the way you probably thought it was going to because you bought wrong, but you learn from that and you'll never do that again.

Exactly. And we are still learning. Yeah, but that along that I always tell people work on the things that nobody can take away from you Skill said everything your connections, building relationships, like nobody can take that away from you.

Yeah. And don't discount that the connections part. In real estate, it's way easier when you've got a great amount of people that you've gotten to know. And are building that those relationships over time.

You don't need to know how you use need to know.

I love that. All right, let's transition into the Fast Five questions. Now. You ready? I'm ready. Let's go. All right. You wake up in the morning. First one wake up in the morning. Business is totally gone. Yep. 500 bucks in your pocket laptop computer, place to live? What are you going to do first?

Hello, my people go oh, my connections?

Start making phone calls. Yeah, I love it. Okay, second question, what's the biggest business mistake you've ever made?

Not taking responsibility to do my own due diligence. Like when I bought my this piece of land, I was like, I trusted a guy because he's a broker because he has been in the industry. Of course, he knows what he's doing. Here's my money. I need to take responsibility to know my numbers know what I'm doing. And take full responsibility of what I'm doing.

Yeah, that's a huge one that you can utilize experts to get advice from, but you should always do your own numbers, your own research, and especially in real estate. Because if you don't understand your numbers, you are absolutely right, it will come back to bite you in the end. And they'll have been on and they're gone. At that point. They made their commission and they're gone. And you're left holding the bag. Yes. All right. Third question. What is a good book that you would recommend for our audience?

Oh, have a lot. Probably one of the Yeah, the power of one more by adding my legs. Okay, I love that book. And it all he talks about is how important is just to do one more, one more whatever you're doing the compound effect, have one more, one more. And then you look back and you just build the whole business, you have a great relationship with us every single day to one more than is suspected.

I love that. Absolutely. All right, what is a tool that you use in your business every day that you might recommend?

A CRM, probably four years go high level just to stay in contact with all of our investors funnels and make sure we are in front of their face all the time.

Absolutely. That's awesome. All right. Last question. What is your definition of freedom to

What I want what I want and not be worried about money, or just have the ability to provide to be present if I'm with my family being present with them. And they'll be thinking, Oh, I have to work or I have to do all this. If I'm on vacation. Enjoy that. That's how I can ambition freedom.

Great answer. Great answer. So if somebody wants to get a hold of you, what's the best way?

One, my website massive that capital slash Jasmine for my Instagram, invest with jasmine,

Make sure we will put both of those in our show notes for you. So thank you for coming on today. It was a pleasure getting to meet you and you're an inspiration. Getting started early and getting going. But I can't wait to see what you do over the years here as you continue to grow. Of

Course. Thank you, Jeff. Thank you for having me. And hopefully we can work together. Mm hmm.

Absolutely love it. So folks, thank you very much for your time today. We appreciate you being on and listening to us wherever you're listening to it or watching us make sure that you subscribe to the channel, hit that little notification button. And if you can, we'd appreciate just hitting that like button as well because that helps with the the algorithms which helps make sure that we get more and more folks like you onto these podcasts. So thanks a lot. We will see you back here the very next time.