Podcast Summary: Real Estate Investing School Podcast - Episode 253 Title: From Immigrant to 188 Doors with Vitaliy Volpov
Host: Joe Jensen
Guest: Vitaliy Volpov
Release Date: April 14, 2025

Introduction

In Episode 253 of the Real Estate Investing School Podcast, host Joe Jensen welcomes Vitaliy Volpov, an accomplished real estate investor, attorney, entrepreneur, and YouTube content creator from the capital region of New York. Vitaliy shares his inspiring journey from being a first-generation immigrant to amassing a portfolio of over 188 residential rental units. The discussion delves into his investment strategies, challenges faced, the importance of partnerships, and insights for aspiring investors.

Vitaliy's Immigrant Background and Early Life

Vitaliy begins by recounting his family's immigrant experience in the United States. Moving from Belarus at the age of 12, his parents started with humble jobs to make ends meet.

Vitaliy Volpov [00:00]: "My parents had to start at the lowest possible jobs they could start in America, which my mom went cleaning houses for wealthier people and my dad was delivering pizzas at like 40 some odd years old in this tiny beat up Honda. And if I can do it, if I can make it from that starting point, then anyone can make it."

This foundational experience instilled in him a strong belief in the possibility of achieving the American Dream through perseverance and dedication.

Entering the Real Estate World

While pursuing his education, Vitaliy developed an interest in real estate. He began investing in 2011, initially tackling small multifamily properties using house hacking strategies—living in one unit while renting out others to cover expenses.

Vitaliy Volpov [06:45]: "I started really digging into it... and it took about a year for me to finally buy my first property. And that was my house hack, my first two-family house where I lived on one side and rented out the other side."

Despite being relatively new to the field, Vitaliy strategically overcame his inexperience by leveraging resources like YouTube to self-educate on property management and renovations.

Overcoming Early Challenges and Embracing Problem-Solving

Vitaliy's second investment presented significant challenges, including foundation issues and outdated infrastructure. Rather than abandoning the project, he employed creative problem-solving techniques, ultimately turning a potential financial pitfall into a profitable venture.

Vitaliy Volpov [11:59]: "I ended up having to refinance both of them on separate loans and pull money out. And I paid myself back for everything that I had in it, pretty much. And that saved the deal for me."

This experience introduced him to the BRRR (Buy, Rehab, Rent, Refinance, Repeat) strategy, allowing him to scale his investments effectively.

The Importance of Strategic Partnerships

Vitaliy highlights the critical role of partnerships in scaling real estate investments. His initial 50/50 partnership faced challenges due to mismatched commitments and responsibilities, leading him to restructure the agreement to maintain control and ensure accountability.

Vitaliy Volpov [31:26]: "You have to be very selective with who your business partner is going to be. You really need to make sure that they do complement your strengths and your weaknesses and not just assume things are going to work out."

Subsequently, Vitaliy formed a robust partnership with a long-time friend, ensuring complementary skills and shared responsibilities, which significantly contributed to his portfolio growth.

Scaling Up: From Duplexes to Multi-Unit Complexes

With a solid foundation and effective partnerships, Vitaliy expanded his portfolio from small duplexes to larger multi-unit buildings, including a 21-unit apartment complex. He emphasizes the necessity of having a reliable team to manage maintenance and operations efficiently.

Vitaliy Volpov [43:07]: "The biggest benefit of this partnership that I have now is that my current partner did bring in the construction expertise and the contractor contacts. That was huge."

This strategic scaling facilitated a steady increase in acquisitions, reaching up to 30 units per year by leveraging specialized roles within his team.

Advice for Aspiring Investors

Vitaliy offers valuable advice for those new to real estate investing:

1. Believe in Yourself: Trust your instincts and have confidence in your ability to overcome challenges.

   Vitaliy Volpov [50:57]: "You should have faith and belief in yourself and that you can achieve whatever you set your mind to."

2. Educate Yourself: Continuously seek knowledge through books and reputable resources.

   Vitaliy Volpov [52:35]: "Rich Dad, Poor Dad is my number one for sure... and the books by Brandon Turner."

3. Choose the Right Partners: Ensure that business partners complement your strengths and are equally committed.

   Vitaliy Volpov [43:53]: "Having someone in the trenches with you who understands what you're going through makes it easier."

4. Build a Reliable Team: As your portfolio grows, having a dependable maintenance and management team is crucial to handle day-to-day operations efficiently.

Learning from Mistakes

Vitaliy openly discusses his mistakes to provide learning opportunities for listeners. His most significant errors involved overconfidence and insufficient due diligence, which led to costly renovations and project setbacks.

Vitaliy Volpov [55:10]: "You just got to be able to absorb it and not take on too much risk."

These experiences taught him the importance of meticulous planning, continuous learning, and maintaining humility despite success.

Final Insights and Takeaways

In the concluding segment, Vitaliy shares his core motivation for real estate investing—financial freedom. He emphasizes the transformative power of real estate as a vehicle for achieving personal and financial goals.

Vitaliy Volpov [61:49]: "Financial freedom. That'd be my phrase."

He also recommends foundational books like Rich Dad, Poor Dad and Brandon Turner's works to equip new investors with both the theoretical and practical knowledge necessary for success.

Closing Thoughts

Vitaliy Volpov's journey from an immigrant son to a successful real estate mogul offers a testament to resilience, strategic thinking, and the importance of strong partnerships. His insights provide invaluable guidance for aspiring investors aiming to build and scale their real estate portfolios effectively.

For more insights and detailed advice, listeners are encouraged to follow Vitaliy on his YouTube channel Succeed REI, where he shares practical tips and strategies for real estate investing.

Notable Quotes:

• Vitaliy Volpov [00:00]: "If I can do it, if I can make it from that starting point, then anyone can make it."
• Joe Jensen [14:42]: "Think about it long enough and you'll come up with a solution."
• Vitaliy Volpov [50:57]: "You should have the faith and belief in yourself and that you can achieve whatever you set your mind to."
• Vitaliy Volpov [61:49]: "Financial freedom. That'd be my phrase."