How this Busy Mom of Three Bought
Letting go of something successful isn’t easy, but what if you know it’s costing you your dreams? Today we talk to mother, real estate agent, and massive multifamily investor, Pili Yarusi, about doing what it takes to stay focused, engaged, and on top of your life.
Pili moved out to New York from Hawaii with dreams of becoming a star in theater but ended up working as a bartender. Lucky for her, bartending is where she met her husband and future business partner. Together, they started flipping houses, which taught her not only to systematize investments but also to use her creativity in an efficient way. She and her husband later expanded into wholesaling.
Pili knew something was missing and she wanted to focus more on growing a multifamily portfolio. With help from some mentors, she realized that the main thing holding her back was her current (and very successful) flipping and wholesaling business. She closed both businesses, got herself systematized, and went head first into multifamily.
Now this homeschool teacher/mom is sitting on $75,000,000 in real estate, totaling in at 850 units. No small number by ANY means! She gives some incredible advice on what new investors need to do before they can reach their goals of owning big portfolios. That where the creativity lies.
You listening to BiggerPockets Radio, simplifying real estate for investors large and small. If you here looking to learn about real estate investing, without all the hype, you in the right place.
What going on everyone? It Brandon Turner, host of the BiggerPockets Podcast here with my co host, Mr. David, Lieutenant, leftenant, how do you say it? Leftenant or Lieutenant, Greene. What up, man?
I think leftenant was how they said it originally in old England. I know it different than the lieutenant.
I think so too. Anyway, what up, man? How are you doing? You actually more than Lieutenant. You like my general. You my president. That who you are.
Then what hermes enamel bangle replica
does that make you? The leader of the galaxy? If I the president, you still ahead of me.
Makes me the janitor cleaning up in the back room. You left the birthday cake from the office party there. So I just putting it all in the garbage. What up, man?
That exactly right, man but I going to be the best general, or the best janitor, I should say, that I can. It going well. I getting my Airbnbs up and running. I probably going to start looking to buy a couple more and I still looking to hire people for both the real estate and the loan team. Looking for leaders.
Yeah, I just wrapping up my Airbnb as well. Just getting the rehab done on it. So today show, we talk a lot about having the systems and not getting emotionally invested in your rehabs. No, I totally getting emotionally invested in this rehab right now. It crazy, but I haven done one in a long time like this. So my wife and I are going to Lowe and picking out the perfect tile and we doing all this stuff. It actually a lot of fun, because it kind of a side project, not really my main business.
I think short term rentals are the lone exception, you can get away with that a little bit more with.
I agree. Because you want it to be unique and special.
If you go crazy like this on a commercial property with 105 residential units, that can really hurt you but if you looking to make it unique, and the profit margin high, I think that that okay.
[inaudible 00:02:23] we looking at tile and just tile, it like 268 a square foot. Then my wife puts out this other stuff, it like 480 and I was like, really expensive, and she like, this place is going to rent for $400 a night. Who cares if it an extra dollar or two a square foot? At the end of the day, we talking multimillion dollar properties and like
And it not a 3,000 square foot place.
Exactly. Exactly. Isn that funny, how we do that with things. We like, Apple is $1.25, I don want to spend more than $1 on an apple. But then it like, car is 35 grand, we buy that one instead of the 30 grand one. People are ridiculous, anyway, and myself included in there.
Well, today show is really good because we talk about where you can get creative in your business versus where you need to stay disciplinized and systemized. We talk a little bit about this whole general cadet thing that we started off with, you and I hiring with our guest Pili the hiring struggle she having. Then we give really good advice to the listeners about how to make yourself someone that people would want to hire and how to grow within a company. Then we also talked a lot about transitioning from one asset class of real estate into another one and how you can use some of the skills in the first way you learn to help you in the next.
So our guest today is Pili Yarusi and she is amazing. They got over 850 units right now, her and her husband, and they have been just killing it on the real estate front but they had to shift their identity to go from the small deals to the big deals. That what we going to talk about today. This is one of those shows where we just got lost in conversation and I mean that in the best way. We just forgot the microphone was there and David, Pili and I were just having a really good conversation.
It like you guys are sitting on my lanai, listen to us talk story, which is how we say it in Hawaii. It just like talking and it was so good. Actually Pili is from Hawaii, so I can say talk story and it kind of makes sense. So with that said, we got to get on with today show, because you guys are going to love it but first today quick tip.
Today show, we talk a lot about identity and how you don want to have too many of them because it messes with your reticular activating system. You hear all about that later. However, so that quick tip for today is I want you to get out a piece of paper, sometime today and write down all the roles that you currently are in your life.
Meaning like hey, I a small multifamily investor or I am a house flipper. I a wholesaler, I a real estate agent. I work this job. Write down that stuff and then ask yourself the question, do I need to let go of in order to improve the ones that really matter? It all I going to say on that right now, you hear more about that later but what do you have to let go of so you can improve on the ones that really matter?
Our guest today is Pili Yarusi. So she is a mom of three kids. They have over $75 million in real estate. Like I said, 850 units. Been doing it now for I think seven years. Actually got started by in listening to the BiggerPockets Podcast. So in a very similar spot to many of you. So without further ado, I think it time to get into today show with our guests, Pili Yarusi. Hey, real quick, if you watching the show on YouTube, do me a favor, click that little thumbs up button below the video, and make sure you subscribing to the YouTube channel here at BiggerPockets. If you like real estate investing or just success entrepreneurship minded content, this is your place for it.
In the comment section, you can ask questions to Pili there, and she be able to jump in and respond. So blow up those comments. Now, let get into our interview right now. Hi, Pili, Welcome to the BiggerPockets Podcast. Good to have you here.