In this episode, we feature the founders of Passivo, Stony Stonebraker and Lennon Lee. They started as independent real estate investors before they met in 2017 at a CCIM event. This meeting led to a business partnership that is focused on building a community of passive investors, helping and teaching them how to invest wisely and achieve financial freedom.
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They go into detail as to what kind of deals they look for, how they source their deals, and how they choose sponsors. It’s interesting to know how much effort they make to go the extra mile for their partners to educate them and refer them to the right professionals who can help them become better investors as they make their own investment strategies. We get to see how patience played a major role in their success in building a community of passive investors who will leave a legacy to their families through their real estate investments.
Key Points From This Episode:
- Stony and Lenny founded Passivo. A brand that is focused on building a community of passive investors.
- A lot of their investors are from Latin America. They also focus on helping their Hispanic investors build wealth and financial freedom.
- Their business model is to partner with experts in the local market.
- When vetting for sponsors, they look for people who they can trust.
- A good deal for them is having the right balance between cash flow and appreciation play.
- What’s really important for them and their investors is to know how well their sponsors communicate what’s going on with the deal or the process.
- What’s their best source for meeting new investors?
- What kind of content do they put up or share to generate interaction from potential investors?
- One way they have improved their business is by educating their investors and helping them get more professional help for their own investment strategies.
- What are their daily habits that have helped them achieve success?
- In their nature of business, patience is one thing that has contributed to their success.
- They like to give back by helping their investors build a better investment plan and leave a legacy for their family.
“We feel like the key to being successful in this investment strategy is to have really good team partners and professionals who really know what they’re doing, and not only that, but especially if they’re trustworthy and they’re good folks, they can take a deal and can make the best out of a deal.” [0:05:48.00]
“For us, after all the background checks and all the technical stuff, we wanna have a good relationship, so we really focus on meeting our sponsors personally and try to build a relationship on the personal side.” [0:08:06:00]
“We wanna build a community of passive investors and the best passive investors there are. It just so happens that for us, the best vehicle for passive investing, not the only one, but the best vehicle is multifamily syndications.” [0:17:45:00]
“We wanna have investors that are educated not only on how to specifically invest in a real estate syndication, but then the tax strategies, state planning, how much money can you keep and more wholesome approach to their portfolio, understanding at least pointing them in the right direction and to other investment strategies.” [0:20:22:00]
Links Mentioned in Today’s Episode:
About Lennon Lee
Lennon came to the United States with his family in 2009 due to unrest in his home country of Venezuela. While he had visited the States many times growing up, he knew this move could be permanent.
He took responsibility for investing his family’s life savings in real estate to build a solid future for his parents and siblings.
Alongside his investment partners, he has been involved in the acquisition of over 2000 units of multifamily real estate with an approximate market value of $200 million.
A full-time investor and real estate professional based in Miami, FL, Lennon is also the founder of The Passivo Investor Meetup (formerly The Multifamily Investor Club), a knowledge-sharing and networking community, focusing on providing an educational and relationship building platform for local passive real estate investors.
He holds a Bachelor’s of Science in Telecommunication Engineering and a Master’s Degree in Engineering Management from FIU. He is also a Licensed Real Estate Advisor in the State of Florida.
About Stony Stonebraker
Stony had an interest in real estate since his first acquisition of a beachfront vacation condo on Siesta Key in Sarasota, Florida in 1974.
Stony started his career with NASA in the Apollo space program working on the Instrument Unit of the Saturn V rocket. Later, he was with Florida Power and Light Company. During his career in technology, Stony invested in income-producing vacation condos, land, and single family homes in Florida and North Carolina. He was also involved in major commercial real estate development, including office complexes up to 600,000 square feet, warehouses, transportation centers and service centers.
He is currently a full-time commercial real estate investor and real estate professional, with investments in over 1,000 units of multifamily properties in Florida and Texas. Stony also holds the CCIM designation as a commercial real estate professional.
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