In this episode of The Daily Real Estate Investor, host Josiah Smelser interviews Chris Grenzig, a young New Yorker who has made a very impressive and successful transition into real estate business in recent years. After his years of college and some time coaching soccer, Chris worked in stock brokerage as a cold caller. He decided to leave his position, though, because some ethical aspects of his job bothered him. He turned to real estate, and through a process of learning and trial and error, not only has he come into financial success, but also to investments that he believes honor would-be investors and their money in ways his former company did not.

Chris explains his transition to real estate in detail. He began by trying to flip houses, but the venture was unsuccessful and he turned his attention to multi-family properties. The key to this turn was Chris’s friend John Cohen; Chris agreed to invest with John in a multi-family venture, and in exchange asked John for information on how to become involved in similar work himself. This exchange progressed into something along the lines of a partnership, and provided Chris with the know-how to not only work in multi-family real estate independently, but to now work under John for Toro Real Estate Partners, as well.

Josiah and Chris talk through Chris’s work in multi-family real estate, and Chris provides insight into the methods behind his success. He discusses properties in Covington, Kentucky, and Jacksonville, Florida, and through his stories about these properties, Josiah and Chris instruct listeners in the need to be flexible in the face of unforeseen challenges, the way to navigate local and more distant markets, and how to raise investment capital. Giving direct advice to listeners wanting to enter the business of multi-family real estate, Chris recommends several ways to get ahead in the industry.

In his final “random” interview time with Josiah, Chris says that he is a major proponent of podcasts, and commends them. Earlier, he had recommended The Real Estate CPA podcast, which along with other podcasts including Josiah’s, offers to help potential investors learn the ropes of real estate. Chris also discloses some of his favorite video games and leaves listeners with the final advice to try, fail, and improve, and to find someone to learn from and replicate their work.

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