Jim Lee is a founder and managing partner at Formosa Investing, a multifamily investment firm focused on creating significant passive income to their investors and improving the communities they invest in.
Starting with a 2 bed/1 bath condo, Jim has built his portfolio to over 600 units in the past 2 years.
Episode Highlights Here:
Jim
Through syndication, you know, while I wasn’t good at it in real time as a realtor, and then when I came across syndication, you need to do a network even more.
Jessica
So today we’re gonna talk about lessons learned from real estate syndication. So talk to us a little bit about what’s your biggest lesson in putting together your syndicate and helping others and helping teach them to grow wealth? What have you learned? What would you say have been your biggest lessons?
Jim
My biggest lesson since I became an indicator was definitely networking. I think, in my 20s, I struggled with the concept of putting myself out there, and you know, networking with others builds strong relationships, they’ll start, they’ll start to establish that connection early on. That’s one thing I definitely regret not doing when I was younger, but it’s also because it’s one of those things that you know, I’m an introvert, and I’m very shy. So that’s why I started as an inside sales career, you know, just stay in the office making dials, and not needing to go out and meet people face to face. So as through syndication, you know, while I wasn’t good at it in real time, as a realtor, and then when I came across syndication, you need to do a network even more. So that was where I had to really change my mindset, and get comfortable being uncomfortable and putting myself out there.
Jessica
So that’s fascinating. So I’m introverted as well
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About Jim Lee
Jim Lee was born and raised in Taiwan. At age 11, Jim emigrated to the United States with his family in pursuit of a better life and living the American Dream. He received his Bachelor of Science degree in Economics from UCLA in 2010, and started his career as an inside sales representative for LoopNet/Costar. By being the top sales rep and earning the highest accolades and recognition amongst his peers, he worked with top real estate agents who helped him spark his interest in real estate and acquired his very first property. After achieving this milestone, he understood the power of passive income and how real estate can help build long term wealth. Now, he is looking to leverage real estate syndication to help investors achieve the same goal of financial freedom, and generate returns to all looking for a transparent partnership. His humble beginnings motivate him to take care of family, who weren’t given the same opportunities and give back to those who helped him along the way. Those closest to Jim can attest to his passion and persistence to do whatever it takes to help reach their goals.
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