Holding reins of a 40 million multifamily real estate empire, he envisions a 100 million figure before he turns 35.
The real estate industry has seen many successes, but nothing compares to the success of Eliott Pityn, who still in his early 30s has accomplished a fortune which many his age can only dream of. Born in Port-au-Prince, Haiti, moving to Canada at 3, he always had an ambitious streak that pushed him to challenge his strengths which resulted in building a strong foundation for himself which catapulted his entrepreneurial career to phenomenal heights. Starting off with nothing in hand, he rose to own real estate properties worth 40 million dollars within a span of ten years, a feat which many can only dream of achieving.
We are keen to know how this young man, who had no financial backing or whatsoever, rose to such astounding heights of success. To clear our doubts, we spoke to the man himself, who took us through the memory lane that made him the reigning king of real estate.
What’s your secret to success, how did you manage to build such an impressive fortune in such a short period of time?
The ambition to reach the top and conquer the entrepreneurial world was always there in my mind since the beginning, what I needed was the right push in the right direction to find my way which led to a glorious career. I started my journey by selling drinks during summer, along with lawn care and snow removal services. Later I diverted my attention towards MLM, which taught me a lot, but was definitely not my type of business that I could pursue for a long term. The investment bug bit me when I watched a video by Robert Kiyosaki titled ‘Rich Dad Poor Dad’ which impressed me to the core, and it was decided that investments is what I should focus on henceforth to achieve unbelievable heights of success in my career.
What was your next move, how did you really get a grip over the real estate industry with literally no experience about its workings?
The video had highly impressed me, which led me to reading his book which delved deeper into the subject of investments. I grasped all I could by absorbing all the topics that spoke about investments and how to grow them systematically. Then came the big day when I purchased my first property, and I was all of 20. This accomplishment further boosted my confidence, and before I knew a few more properties were added, and in the next four years I accumulated over 20 properties. From single families all the way up to 4-plexes, my portfolio boasted of all.
How did you achieve such phenomenal figures, given the fact that you were only accumulating small properties?
During the course of my journey, getting hold of smaller properties, I suddenly realized that the financing and scaling prospects were reaching a dead end. That’s when I restrategized and sold all my small properties and started focussing on large multifamily buildings which were more than 20 units. After focusing on large apartments for three long years, I was able to grow the inventory from 50 units to 300 units worth 40 million dollars.
On asked where does he go from here after achieving such phenomenal success, Eliott says, “the goal is to grow the figure to a 100 million by the time I’m 35, and that’s what I’m focussing on right now.”