A conversation with one of the most dynamic — and likeable — personalities in the industry.
Podcast Host Extraordinaire. Accomplished Investor. Public Speaker. Think Realty Resident Expert. Presidents’ Circle Member. World Traveler. Social Media Maven. And perhaps, Best Dressed Real Estate Investor.
Ok, that last one might be a bit subjective, but it’s no secret that Abhi Golhar has earned many accolades and titles, in the real estate investment space and beyond. We got a chance to interview The Interviewer about real estate investing, goal setting, entrepreneurialism, the biggest evil in today’s market, and more.
Think Realty Magazine: Your preferred niche of REI is single-family rentals, and you now own properties in multiple states. How did you begin your career in real estate?
Abhi Golhar: I was a hot-shot, know-it-all in high school and didn’t do well my first year at the University of Michigan. I finally learned that a crazy ego never works well for anybody. My uncle was a real estate developer and I helped him some but didn’t think of it as a job. It didn’t click for me until my friend Tommi gave me Rich Dad Poor Dad and other books. I learned as much as I could about real estate investing and finally made enough money to get started. My first two properties were in inner city Detroit and turned out to be my biggest failures, but I had to keep going. I continued to explore how to make money as an entrepreneur and continued to invest. I focus on SFR and have some multi. I like the buy and hold.
(And, he did end up graduating from the University of Michigan.)
TR: What is your WHY? What drives you each day?
AG: Three things.
- The pursuit of happiness and creating good energy.
- Offering a sounding board and perspective on financial education. One of the biggest evils I see today is lack of financial intelligence and that challenge is not being adequately met by gurus in the marketplace. I love speaking nationally, doing podcasts, and sharing trustworthy information.
- Working with kids. Children need to be empowered to know it’s OK to make mistakes. I work with The Boys & Girls Club and go to local schools to read to kids and do question and answer sessions. Also, I am going on a mission trip to Ukraine to teach English and business skills.
TR: Besides the mission trip, what other goals do you hope to accomplish in 2020?
AG: I want to stay true to my investment philosophy by buying into businesses and more properties. I want to position one of my companies for an exit and contribute more to masterminds by bringing my technology background and knowledge of scaling companies to help others and to show businesspeople that their company can feed their lifestyle. It doesn’t have to be just a job. And, I want to become a parent!
TR: Do you have a process of setting goals and holding yourself accountable to achieve them?
AG: I use a life book course that really helps. It pinpoints areas of my life and I review it each week. Some examples of life areas that I focus on are health/fitness, spiritual, emotional, intellectual, financial, social, career, and quality of life. There are others, but it guides you to narrow down your goals in specific parts of your life.
TR: The real estate investment industry is widespread and evolving. What excites you and what concerns you?
AG: What excites me is that people are waking up. And for those that are smart, long-term real estate investing will become a larger part of their portfolio. It’s no longer an alternative investment class. It’s real, and it’s a good thing. What concerns me though is despite more opportunities, there is more chaos. People aren’t using as much logic as they should, and they are not educated on deals. They are overlooking red flags of a deal just to get in. Making decisions based on emotion can be very dangerous, especially when buying something as valuable as real estate.
TR: What do you do or where do you go when you need inspiration?
AG: I go to experts in the industry and have a conversation with them. I am a big relationship person, so I love to surround myself with those who are doing great things. It’s kind of like jumping in a pool with an Olympic swimmer! Also, I travel. My wife and I have a plan to visit seven countries in seven months. Experience is important. The vulnerability I feel when trying new things and seeing new places has a positive effect, always. Travel is the world’s greatest teacher. It opens me up and exposes a side of me that I want to be in touch with more. And traveling with my wife is the greatest thing ever!
TR: What do you do to ease a bad day?
AG: Run to clear my head. Take a warm shower. Meditate. And have a glass of red.
TR: To celebrate a great day?
AG: Call my wife. Call my parents. And have a glass of red.