Tale of Transformation: From Federal Reserve Exec, to Self-Storage Investor, with Sergio Altomare
06/06/23 • 49 min
In this episode, Sergio Altomare shares his journey from working at the Federal Reserve to becoming a successful real estate investor. He started as a file clerk and developed a passion for IT and technology. He transitioned into real estate investing with a focus on self-storage due to its recession resilience. He emphasizes the importance of cash flow and net worth in property investments and discusses the significance of strategic decision-making and building strong relationships. He also highlights the importance of stress tolerance, mindful habits, and eliminating ego to scale his business. His long-term vision includes building an elite company and launching a charitable organization focused on education.
Links mentioned:
BlinkistLinkedIn – Sergio Altomarehfirecapital.com
investwithsergio.comSergio Altomare’s Bio:
After transitioning into real estate as a side business in 2012, Sergio partnered with his wife Corinn to start Healthfire Holdings, a boutique real estate investment and property management company. In just eight short years, Hearthfire Holdings has built a portfolio of more than $50M in assets under management and syndicated over $12M in assets, returning more than $2M in profit and 25% IRR to investors. Property types have spanned in small multi-family, commercial, retail, and self-storage properties. Sergio has also flipped houses and rehabbed properties and multi-family developments.
Tweetables:
“I give 100% to every aspect of my life. And it starts with taking care of myself and my intentionality. My meditation, my faith, that goes into making sure that I am paying attention to what is most important.” (41:33)
“Money is not most important. Most important is our purpose. Our biggest purpose in our household is to share impact, whether it be for our team, whether it be for our investors, to help people be exposed to investing, to building wealth for the entire life” (42:01)
“We don't define wealth in terms of just net worth. It's about having a fulfilling, intentional life where you're able to have that purpose, follow your passions, be where you're at, where your heart is at.” (42:29)
“but it's really about understanding your passions and what drive you.” (46:34)
The main sponsor of our podcast is Rx Real Estate Investment. They make everything we do possible, and our conversations and interviews would not be available without their support. If you want to diversify your retirement portfolio and get into commercial real estate investing, working with Rx Real Estate Investment may be a great match for you. Check out the website at www.rxrei.com.
Connect with us!
Jeff Stark
Claude Condo
Newsletter
In this episode, Sergio Altomare shares his journey from working at the Federal Reserve to becoming a successful real estate investor. He started as a file clerk and developed a passion for IT and technology. He transitioned into real estate investing with a focus on self-storage due to its recession resilience. He emphasizes the importance of cash flow and net worth in property investments and discusses the significance of strategic decision-making and building strong relationships. He also highlights the importance of stress tolerance, mindful habits, and eliminating ego to scale his business. His long-term vision includes building an elite company and launching a charitable organization focused on education.
Links mentioned:
BlinkistLinkedIn – Sergio Altomarehfirecapital.com
investwithsergio.comSergio Altomare’s Bio:
After transitioning into real estate as a side business in 2012, Sergio partnered with his wife Corinn to start Healthfire Holdings, a boutique real estate investment and property management company. In just eight short years, Hearthfire Holdings has built a portfolio of more than $50M in assets under management and syndicated over $12M in assets, returning more than $2M in profit and 25% IRR to investors. Property types have spanned in small multi-family, commercial, retail, and self-storage properties. Sergio has also flipped houses and rehabbed properties and multi-family developments.
Tweetables:
“I give 100% to every aspect of my life. And it starts with taking care of myself and my intentionality. My meditation, my faith, that goes into making sure that I am paying attention to what is most important.” (41:33)
“Money is not most important. Most important is our purpose. Our biggest purpose in our household is to share impact, whether it be for our team, whether it be for our investors, to help people be exposed to investing, to building wealth for the entire life” (42:01)
“We don't define wealth in terms of just net worth. It's about having a fulfilling, intentional life where you're able to have that purpose, follow your passions, be where you're at, where your heart is at.” (42:29)
“but it's really about understanding your passions and what drive you.” (46:34)
The main sponsor of our podcast is Rx Real Estate Investment. They make everything we do possible, and our conversations and interviews would not be available without their support. If you want to diversify your retirement portfolio and get into commercial real estate investing, working with Rx Real Estate Investment may be a great match for you. Check out the website at www.rxrei.com.
Connect with us!
Jeff Stark
Claude Condo
Newsletter
Previous Episode
Turning Dreams into Deals and Crafting an Extraordinary Vision of Life, with Pasha Esfandiary
Join us as we delve into the extraordinary life and career of Pasha Esfandiary in this captivating episode. Pasha's journey encompasses diverse experiences in real estate and entrepreneurship, including a lucrative stint as a professional poker player. With his sharp strategic thinking and calculated risks, he achieved financial success that surpassed even top executives. He made a pivotal decision to transition into the world of real estate, which he considered his ultimate end game. Throughout the episode, Pasha generously shares invaluable insights from his entrepreneurial journey, reflecting on the lessons he gleaned from poker and offering firsthand experiences navigating the dynamic real estate market.
Prepare to be inspired by Pasha Esfandiary's remarkable story of charting an unconventional path and pursuing passions beyond the confines of convention. Don't miss out on this episode, where you'll gain exclusive insights from Pasha, a real estate flipper, investor, professional poker player, and the visionary founder of the Evoke Capital Fund.
Links mentioned in today's episode:
Evoke Capital
Road to 100
About Pasha Esfandiary
Pasha Esfandiary started his real estate career in 2011, flipping auctioned homes. With over $250 million in transactions, he has worked on various property types, including residential homes, boutique motels, and large multifamily properties. In 2021, Pasha founded Evoke Capital to help others achieve financial freedom through real estate. With a focus on community development, Evoke Capital aims to provide more than just housing, fostering educational resources and empowering residents to thrive. Pasha's commitment to growth ensures that Evoke Capital is just beginning its real estate journey.
Tweetables:
“I get super like crystal freaking clear of my vision and who I want to be in my vision and I emotionally attach myself to that vision.” (15:06:0662)
“Would I rather listen to my limiting belief or would I rather live in my vision?” (17:56:642)
“Whatever you think about, you become.” (19:10:826)
“And when there’s good communication and trust there, you can weather the storm.” ((33:43:922)
“If I could teach any child the power of I can go accomplish this, just that one thought alone can change the trajectory of somebody’s life tremendously.” (46:56:618)
“Environment is stronger than willpower until willpower is stronger than the environment.” (48:21:678)
The main sponsor of our podcast is Rx Real Estate Investment. They make everything we do possible, and our conversations and interviews would not be available without their support. If you want to diversify your retirement portfolio and get into commercial real estate investing, working with Rx Real Estate Investment may be a great match for you. Check out the website at www.rxrei.com.
Connect with us!
Jeff Stark
Claude Condo
Newsletter
Next Episode
Redefining Real Estate Investing: Insights from Nick Stageberg of Black Swan Real Estate
In this episode, we sit down with Nick Stageberg, owner of Black Swan Real Estate, a thriving investment and property management firm. Nick shares his inspiring journey to financial independence in his 30s and his mission to help others achieve the same. With a portfolio of over a thousand doors and assets exceeding $300 million, Nick emphasizes the power of adding value to properties through renovations and attracting ideal tenants. Discover how Black Swan's investor-focused private equity funds have delivered exceptional returns while maintaining a commitment to social consciousness through charitable donations. Join us as Nick unveils the unique Vertical Integrated strategy, shares insights on tax advantages, and emphasizes the importance of trustworthy partnerships.
Learn how strategic real estate investing can pave the way to financial independence and success. Tune in now!
Links Mentioned:
Nick Stageberg’s Bio:
Nick Stageberg is a career technologist, father to 4 children, and Owner of Black Swan Real Estate, a real estate investment and property management company. Along with his wife Elaine, Nick owns and manages a real estate portfolio of over 1,000 doors and more than $300M in assets under management. Through real estate investing, Nick reached financial freedom in his 30s and now helps others to do the same. Black Swan has delivered exceptional returns to hundreds of passive investors through their unique investor-focused private equity funds which enjoy no sponsor fees whatsoever, 100% return of capital to investors before any splits, and long-term returns and tax advantages, all coupled with socially conscious investing and at least 5% of profits donated to charity. Connect with Nick at meetblackswan.com.
Tweetables:
“I don't know why this is a revolutionary thought, but doing the right thing is actually the profitable thing to do.” (16:06)
“If this was just about making money, this would not be interesting to us. This is about so much more than money.” (42:12)
“If you take care of homeless people, the whole neighborhood does better. If you give homeless people a home, they're not homeless anymore.” (44:37)
“If you lead with principle, if you lead with your heart, it's very easy to serve people.” (48:28)
The main sponsor of our podcast is Rx Real Estate Investment. They make everything we do possible, and our conversations and interviews would not be available without their support. If you want to diversify your retirement portfolio and get into commercial real estate investing, working with Rx Real Estate Investment may be a great match for you. Check out the website at www.rxrei.com.
Connect with us!
Jeff Stark
Claude Condo
Newsletter
Rx Investor Podcast - Tale of Transformation: From Federal Reserve Exec, to Self-Storage Investor, with Sergio Altomare
Transcript
Jeff Stark (RxREI.com):
All right, everybody. Welcome to another episode of the RX investor podcast. I am your host, Jeff Stark. We also have our Claude, or our cohost I should say, Claude Condo. What's up, man? How are you doing today?
claude condo:
Good, good. How are you, man?
Jeff Stark (RxREI.com):
Doing well, yeah, excited for another episode. We've got a great one planned for today. Our guest today is the founder of Hearthfire Holdings, Sergio Altamira, h
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