Have you heard of the core-satellite fund model? If the answer is no, need not worry! Today’s guest is Daniel Kwak, one-half of The Kwak Brothers and founder/CIO of Miotti Partners Capital, LLC. He joins host Sam Wilson to let you know how the core-satellite fund model works and how you can potentially benefit from this strategy. Daniel also shares how he found success in real estate, going from -$187.65 in his bank account to closing 87 doors in 2017, going way beyond his goal of just 20 doors for that year. How did he do it? Tune in to find out!

—

Listen to the podcast here:

 

Understanding The Core-Satellite Fund Model And Real Estate Success With Daniel Kwak

Daniel Kwak is one of the Kwak Brothers, and he is considered a creative negotiator as he handles all of their investor relations, conflict management and partner management. Daniel, welcome to the show.

What’s going on? Thanks for having me.

The pleasure is mine. I must admit that I think that’s the shortest bio. We’re on episode 350 or so.

Congratulations.

Thanks, but I think you win the award. Congratulations to you for the shortest bio coming on the show. That’s tons of fun. It leaves a lot to be discovered here in this show. The same questions I ask everybody who comes on the show, can you briefly tell us where you started, where you are now, and how you got there?

Make it about the process, not the result.

Yeah. I’ll share the story of what I accomplished and how I accomplished it. By the way, one of my biggest pet peeves is when I’m listening to a show, because I’m a very avid podcast consumer, and the person that’s on will spend five minutes talking about who they are. I’m like, “Get to the good stuff. Show me how you did it,” so I’ll do my best to get there as fast as possible. Long story short, I’m an immigrant to this country. My dad’s a pastor, so I’m a pastor’s kid and we immigrated to this country when I was five years old.

When you grow up poor, you learn poor, so it led me to me being eighteen years old and had a negative $187.65 in my bank account. I had a couple of maxed-out credit cards and I had no network. For a lot of you guys that are reading this episode and you’re going, “These guys, they’ve got some special genetic. They’ve got some special advantage over me. I can’t do it.” Trust me, I’ve been there. I was that one guy that was like, “His dad is in real estate already. He has a network and he’s got his dad that can give him a small loan of a million dollars.” I didn’t have that, so I had to be creative.

I had to learn how to scale on my own. The way I did it pretty much was at eighteen, I decided enough is enough. We all have those moments where it’s like, “I got to do something here.” There’s a reason why I’m sure you started this show and I’m sure there’s a reason why people are reading it now as we speak. My reason was I wanted to do a lot of good things for the world. I’m that guy where I don’t need to be making millions of dollars every single year, but what I do want to be doing is giving it away. I love helping nonprofits and missionaries, especially because they constantly have to raise money.

I want to be the guy who can fund them and provide that way. One of the things I really would recommend to people, especially when you’re looking to scale your commercial portfolio is to submerge yourself in what you’re doing. When I say submerge, I mean really submerge. Don’t just go to one Meetup a week and say, “That’s good. I’ve done my part. I checked the boxes.” No, you have to make it who you are. You have to make it a part of your identity. What I started doing is I started jotting down how many hours do I have in a particular week.

 

I had ten hours. At the time, I was a very busy college student and I was making music for churches professionally during the weekend, so I didn’t have a lot of time to build my real estate career. I’m going to guess a lot of people reading this, probably you’re on your way to work or you’re coming home from work. You don’t have a lot of time as well.

What I started doing is I sat down, got a sheet of paper and I asked myself, “I have ten hours every single week. Number one, what are the things I could be doing during those ten hours that are the highest and best use of that ten hours? What can I do to be most efficient?” I would write off some ideas and I would reverse engineer what my action steps needed to be. January 1st of 2017 is when I started doing deals. I got into real estate in 2014, so it was three years of just me learning and not doing anything, which by the way, is okay.

January 1st, 2017, I told myself I was going to have twenty doors. My mentor was very smart enough to tell me, “Daniel, don’t set goals. Set standards and expectations for yourself,” and I was inspired by that. I read an article by Michael Phelps talking about how I am the most decorated Olympian because the standards that I hold to myself every single day happen to be the most productive day for any other Olympian. That is my standard. I reverse-engineered. My goal was twenty rental doors by the end of 2017. I worked backward.

I said, “If I want to get those twenty doors, what do I have to do before closing? Before that, what do I have to do before that?” To the point where I came up with five things that I needed to do every single day that was going to take me X amount of hours. I also created a separate list of three things I need to do every single week and then I created a separate list of one thing I need to do every single month to ensure that the ball is being moved forward, because what I told myself is, “If I can achieve one-twelfth of my yearly goal that month, I have done the right things to move the ball forward.”

I created what’s known as KPIs, Key Performance Indicators. I set standards and expectations over my goals. I took those standards and expectations and I brought them to my mentors. At this point, I spent tens of thousands of dollars in coaching. I submerged myself. Some of them were good, some were bad. Most of them were bad, which is why I started my coaching because I was like, “I want to help people learn to do this the right way and not charge an arm and a leg,” so here we are.

I did those five things every single day. Three things every single week and one thing every single month. By the time it was the end of 2017, I ended up with 87 and not 20 because I made it about the process and not about the result. I think that’s one of the biggest mistakes that a lot of people, especially those who are looking to scale their commercial portfolio make is they get so fixated on that goal.

My recommendation being, “Focus on your process and focus on your standards and expectations, and I think even your goal will surprise you in terms of what you can get achieve in a particular year.” I would say that’s where I got my start. How I got started and how I built my portfolio. Hopefully, that was fast enough in terms of getting to good content.

I think that you’re hitting on some amazing content already. The basic how-to, that’s the beginning of the two words of this show. Setting those standards and setting your KPIs. Let’s back up a little bit. There are two burning questions there. How does a kid with a minus $187 to his name spend tens of thousands of dollars on coaching?

My brother and I called our credit card companies and we pretty much begged them to increase their maximum limit. Not what I would recommend for a lot of people. If anything, I wouldn’t recommend that at all. Right. For him and I, we were young and our DTI was awful. We were making no income.

We were at a point where we were like, “We got to go all in.” We had means of creating income. We both did affiliate marketing thing at the time. That’s how we put food on the table. As I said, I worked professionally as a musician and did a couple of other things. Just some side gigs, but that’s how we came up with the money to pay for our coaching.

That’s courageous and also crazy. Well done on that front. The second question would be, how did you finance the 87 doors with a DTI that made no sense at all, how did you even get that done?

One of the biggest mistakes that people make is that they get so fixated on that goal. Focus on your process, focus on your standards and expectations.

I remember there was one story where I was at a networking event. I was 21 years old and I was talking to a commercial lender. During these meetups and networking events, it’s pretty much an arena where everyone speaks to their chest and how awesome they are. I still remember what this guy looks like. He was 6’1”. He had a beard and was in his early 40s. I remember having a conversation with him and I was telling him about what I wanted to do in real estate.

I wanted to network with him. He was the senior commercial lender of a decently sized bank in that area, so I was like, “I got to get to know this guy. I got to build a relationship.” I was telling him about all of my aspirations and what I wanted to do. He starts asking me questions and he’s like, “What’s your DTI? What’s your income? What’s this and that? Have you had any experience?” I had no experience at the time. Afterward, I tell him like, “I want to do twenty doors by the end of next year.” He laughs and he’s like, “You’re serious?” He does one of those things.

I’m like, “Yeah.” He’s like, “We’re not even going to let you in my office. You’re nuts,” and so I’m like, “I can’t do bank financing. What are my options here? Am I going to have to buy this cash? Am I going to have to raise capital? What am I supposed to do?” It was around that time when I learned this thing called seller financing. I was like, “Interesting.” This concept is pretty much when the seller or the owner finances and carries the note for your purchase. I started asking myself, “How can I get this done? How can I be resourceful?”

As the great Tony Robbins says, “Never think about your resources. Think about your resourcefulness,” and so I started asking myself, “How can I create a situation where people want this?” What I did was I sat down and I reverse engineered my problem into a solution, and then my solution into an action step. That’s one of the things I noticed a lot of people don’t know how to do and because they don’t possess this skill, a lot of them have a hard time scaling their commercial portfolio.

“How can I take my problem, reverse-engineer it into a solution, engineer that into a blueprint, and reverse engineer that into a daily action step?” I sat down and I wrote all the value propositions of seller financing for the seller. I write potential tax deference. They make money as the bank, so they’re making money off of the interest. We all know that banks are some of the largest and most rich entities in the world.

I wrote down it promotes a lifestyle. If you’re having your money work for you, then you’re able to go out and travel and you’re receiving a mortgage payment. You don’t have to manage the tenants, which is another thing I wrote down. You don’t have to manage tenants, toilets, termites. That terminology. I came up with a list of about 6 to 7 and I started asking myself from there, “Who do I know that these 6 or 7 things make the most sense for? Who would raise their hand and say I need those 6 or 7 things?”

After about a week of asking different mentors, talking to CPAs, attorneys, friends of mine and colleagues, I came up with the answer of seasoned landlords. It made so much sense after somebody told me, “They’re at an age where they probably need a lot of tax deference because they’d owned it probably for more than 27 and a half years. They’ve got a big depreciation recapture event coming up. Not only that, but the value of the real estate has increased over the last 30 years, so they’re paying a pretty high substantial capital gains tax.” This is back in 2017.

They probably don’t even want to deal with being a landlord anymore.

That was another reason. They’re at the age where they don’t want to wake up at [2:00] AM and unclog a toilet. They’re also at the age where they want to travel. They want a particular lifestyle. The golden years are what they call it. I asked myself, “I need to go after older landlords who are above the age of 65.” I still want it to make sense for them to take on a note still because there’s no use of being 90 and going like, “A 30-year note, that sounds great.” I started targeting landlords between the ages of 65 and 85 or 80.

I started asking myself, “What can I do to reverse engineer action steps around targeting older landlords?” For me, it started with, “Certainly, I’m not going to go on a very fancy tech-heavy website where it’s super complicated to set up,” so I decided to go, “What are some of the old-fashioned ways that people promote property?”

What I did from that point is I would meet with property managers who have been around the area for 30 or 40 years who had been doing business for a very long time and I would ask them, “What were some of the best ways to lease apartments 30 years ago? Back in the ’90s or ’80s, what were some of the ways people did that?” The main three I got was number one, relationships. A leasing broker or property manager.

 

Number two was a for rent sign out front on the lawn and then number three, newspapers. I started assigning myself, “These are my action steps. I’m going to spend 3 or 4 hours every week going around, driving around and calling for rent signs. That’s what I’m going to do,” and sure enough, 65% of people that pick up the phone are like, “Hello.” I’m not saying that’s how they sound, but then I’d be like, “If you don’t mind me asking, you sound young. How old are you?” They’d say, “I’m 68.” I’m like, “Great,” but inside, I’m like, “Yes.”

I will call for rent signs and newspaper ads and what I did is I would build relationships with property managers where I would tell them like, “If you have a client that’s looking to sell, have them call me instead because I’ll use you as the property manager. Therefore, you never lose business,” and so property managers will love it. They’re like, “You’re virtually guaranteeing me that I never lose units under management.”

I created a win-win. I said, “Worst case scenario, if we don’t work out as management, you can take the commission as the broker. You make 2.5% on a $1.5 million apartment complex. In the worst-case scenario, you make that money and you don’t get the management.” I was getting deals sent to me left and right from different property managers I had that arrangement with.

As a matter of fact, my first 60 doors were from property managers, and I bought them seller financing. It was neat because, for a lot of these older landlords, they wanted that monthly payment to be higher because they were in a position where they already had lump sums of cash. They didn’t need a crazy down payment, so the average down payment I would give these guys was 10%. I bought a couple of apartment buildings with no money down, too. That’s how great it was.

That is very creative. You’ve hit on a lot of things. Ones in very direct and simple ways, but it requires discipline to do it. It’s not challenging. It’s like eating on a clean diet. It’s not hard. It’s just discipline. That’s a great example that you’ve set there. Naysayers, let’s rewind a little bit. A lot of people stop right there when the commercial lender says, “I wouldn’t even let you in my door,” and they laugh you off the stage. How did you not internalize that and then how did you overcome the people in your life that said you couldn’t do that?

The first thing you can’t do is get defensive because there are people who are like, “I’m going to prove them wrong.” You can’t do that because one day you’re going to need them. What I said in that situation, I said, “You’re right,” because, at the end of the day, I’m an advocate of the truth. The truth was that it was in his best interest not to let me in the door because I’m the guy that’s going to waste his time. If I were in his situation, I probably would have done the same thing. I wouldn’t have said it that way.

I would have been a little nicer about it. I would say, “Let me help you,” but I probably would have had the same thoughts, just would have reacted differently. The same thing when I was raising capital. As a 22 or 21-year-old, I was fully aware that these 60 or 50-year-olds I was talking to, that was one of their main reservations. It’s that, “How is this young kid going to deliver results?” I wrote these things down before I even talked to these individuals, and a lot of it, as cheesy as it sounds, comes from compassion. It comes from putting yourself in their position.

That’s exactly what I did and that’s how I overcame it. Number one, value the truth above all things. Number two, see it from their perspective. I think if you see it from their perspective, you’d probably be thinking the same thing. Number three, what are then the most creative and resourceful ways that I could mitigate their fear and at the same time create and turn that into a positive? Even with my investors, one of the things I did was I partnered up with a property manager who was a lot older than I was. At the time, he was 60, and I was 23.

I gave him equity, even though I didn’t need to because I was already giving him a management fee. He was making money as a broker. He was already well-compensated for doing the things that he’s already doing, but I gave him a good chunk of the deal because I wanted him to have some skin in the game. That’s what eased my mind about the investors. Like, “I got this guy. He’s 60,” and they’re like, “Okay,” so I found a way to turn a negative into a positive.

Let’s fast forward a bit here and talk a little bit about where you guys are now. I know you are in the process of developing a product or you have developed a product called a core-satellite fund. What is that? What does it mean and how does it work?

It’s not as scary as people think. It’s quite simple. I’m a guy that gets bored very easily. I’m always going to be finding new ways to solve a problem faster, quicker, better and more efficiently, and so a couple of years ago, I had to stop because I was in a rut. I was raising capital and doing deals. It was a cycle. I was at a point where I was buying an apartment every month and I was constantly raising capital. I was a rockstar. I was traveling all over the country.

There was a couple of larger real estate investment education companies that asked me to travel for them, so I would travel and I’d be in three cities every week. To give you an idea, my schedule was to wake up on Tuesday at [4:00] AM, go to Minneapolis, and then run a three-hour training that night. Go to bed at [1:00] AM and wake up at [5:00] again. Sleep a little bit on the airplane, go to Philly on Wednesday, and then go to DC on Thursday night.

Flight back to Chicago, which is my home, on Friday and then ran another training for three hours, and then Saturdays and Mondays were my days where I focused on my real estate business and did some things in the beginning. I was like, “Is this what I want to keep doing for the next 30 or 40 years, which is just buying an apartment and raising capital?” I wanted to do something bigger. I wanted to create a vehicle where one day, I can help the children in need. I can help the widow, the hungry, the fatherless, and the homeless because that’s why I started this thing. I had no interest in making millions of dollars.

I do pretty well for myself now, financially, but I still drive a Hyundai. My wife and I still live in a three-bedroom apartment and I’m wearing a hoodie. I don’t have Rolexes. My brother, on the other hand, he’s a little flashier than I am, but that’s me. I want to build something good, so I started going around investors that invest in my deals, and I asked him like, “What are some things that you would love to invest in? Tell me your wish list.”

Some of the things they were telling me is, “I love that you’re raising money and we’re putting money in deals, but one of my big concerns is there’s no diversification. What happens if I put $5 million or $200,000 in this apartment complex and that apartment complex goes down? All my investments are done. My capital’s gone,” so they said, “I wish I could invest into something that is like a REIT but allowed me to have tax benefits and ownership like a hedge fund.” As soon as somebody said hedge fund, I was like, “I know who to talk to.”

Take your problem, reverse engineer it into a solution, reverse engineer that into a blueprint, and reverse-engineer that into a daily action step.

Whenever I have a problem, my typical go-to is I try to figure it out myself, and then the next day, I’ll bring it to 3 or 5 of my friends to know that thing very well. I mastermind a little bit, wrote some thoughts down, and I brought it to my friend, Kevin. Kevin’s my business partner now, but he’s a little older than I am. He’s 52, which by the way, now in hindsight, is not that old. He spent 30 years on Wall Street. He was one of the smartest Private Investment Managers at a company called Wachovia. He was most notable for predicting the last two economic recessions.

He saw 2008 coming before Michael Burry did, and then he also saw the dot-com bubble happening four years before it happened. He had written a couple of books about it, too. He is somebody who I respected, so I was like, “I got to get this guy’s advice.” He and I pretty much sat down and he helped me create a model for investing in real estate. Long story short, I persuaded him to be my business partner and re-enter the fund space, even though he left and not wanting to return. He came back into the fund space and we started the very first real estate hedge fund.

We started the first hedge fund within the real estate space where the core-satellite model is we have our core fund where we invest in multifamily developments and commercial, and then we have satellites that are opportunistic because I think a lot of people in the real estate industry can all raise their hand and agree that there’s going to be some type of correction that’s going to happen within the next 3 to 5 years. Now, the big question is, how do guys like us who own real estate funds find the liquidity to maneuver those market conditions?

One of the things that I think happens automatically is under capitalization. People don’t have as much liquid as they thought they did when the market corrects them. My partner Kevin and I created a model where we had a structure where we have our core and we’re investing in things that we know are going to last the next 10 to 15 years, but we also have these little satellites that are opportunistic. That when opportunities arise, we have these satellites available and the liquidity available to jump at those opportunities.

We designed both opportunistic and long-term. It’s very much of long-term and short-term play combining those together to where we will provide great returns every single year in assets that are very solidified, which by the way, we’re practicing this model in the second fastest-growing economic county in America. This is where we’re implementing this model.

This is the arena we’re doing this in, the second-fastest economic growing county in America. We also have these satellites to where if the market crash happens, we’re ready and we have the liquidity to attack and be super opportunistic because there are people who made a lot of money in 2008. It seems it was either one or the other. You either lost a crap ton of money or you made a crap ton of money. We wanted to create a model where we still make a crap ton of money, but we don’t lose money either.

We’ve got a couple of development projects now that are super exciting. They’re a little bigger, but the way that we’ve positioned our fund is as long as somebody has $250,000 and as long as we were accredited, they can be involved in these large projects. They can be involved in our core-satellite model and they can have not only their money protected, but they can also have very opportunistic returns coming their way. It’s exciting because we’re giving it away. I was a little hesitant with this one, but my partner Kevin was like, “I think we should build it this way.”

We give 100% of ownership away to our limited partners and not only that, but our fee structure is very advantageous to them. They get 100% of the tax benefits. We have the diversification of a REIT, but we also give away the benefits of ownership like you would with syndication and then we also added in some cool bells and whistles on top of that. It’s a very drawn-out answer to your question. It’s very long and hopefully not tedious, but that’s what I’ve got working on now. We’ve got a couple of development projects we’re excited about in the pipeline.

I love the transition from the hustle and grind at the street level, which I’m sure that still is going on in some form and fashion. That never goes away, but also looking to grow and looking into bigger deals, and doing it in a systematic way with more seasoned partners. A lot of questions about the fund are popping up in my head. We won’t have time to dig into that on the show right now.

I think this would be a good opportunity if you are curious and reading this to reach out to Daniel and say, “How is this structure,” and see if it’s a fit because there’s a lot of mechanics on it that we could probably spend the next 30 minutes talking about the mechanics of the fund, but that’s fascinating. I enjoyed this episode, Daniel. With the things you’ve mentioned here, I’m going to ask you a couple of definitions. How would you define success and what does that mean for you? Let’s say you’re at the end of your life looking back and you said, “I was a success. I was not a success.” How would you define that?

 

The way I would define success is, again, this is going to sound so cheesy, but who are you? One of the things I’ve had to learn is learning how to prioritize my wife over my business or my professional career. That’s something that I thought I did a good job of. I have a relationship with God, so I constantly talk to God, and one of the things that God has made me aware of in my life was, “You should prioritize your wife, but you should also prioritize yourself.”

I say, somebody who has their priorities in order, who values their family and their mental health over what the world would deem as success, you are a successful individual. All in all, to define that definition and wrap it up into one pretty sentence, I would say, if you have your own clear and defined definition of success and it’s not what the world or society says success is, I’d say you’re a pretty successful person. It’s because it means you have clarity and when you have clarity, you know where your energy is going towards. It’s going towards the right places.

I know guys who make nine figures a year and their priorities are not in order and they’re at the end of their life. I spoke to a guy who has a lot of money. He has been married to four different women. This guy is borderline suicidal now because he lives in this nice house and it’s just him. If you ask him, “Are you successful?” I’m more than willing to bet that he’s going to say, “No, I’m not successful,” but yet the world and society would say, “What are you talking about? You have nine figures in the bank account.” That would be as cheesy as it sounds.

There’s a Christian apologetic named Ravi Zacharias who always said that some of the decamillionaire businessmen would sit in his office and weep because they got to the top and found out there’s nothing there. They’re like, “We worked all this and yet.” That’s a very devastating thought, but I love your definition there. Hand in hand with that is impact. What type of impact do you believe you have on other people?

That’s a great word. People say legacy. I’m not a big fan of the word legacy. I’ve got a good friend of mine. His name is Alex Hormozi and I’m sure some of you guys have heard of him. We had a conversation about what the word legacy means. He had brought up a really good comment and by the way, the reason why I bring up his name is because I wanted to get credit for this thought.

He says, “I hate the word legacy because the reality of the situation is legacy implies something that will last after you’re gone. That’s what people build towards. They want something for their kids. People don’t realize that by the time you get to 4th or 5th generation down, no one has no idea who you are.” One hundred years later, nobody has any idea who you are. I doubt that you know who your great, great, great, great grandfather is.

I didn’t even know my great-grandfather’s name.

That’s exactly right. I don’t either. Most people don’t even know the name of their great-grandfather. For him, what Alex brought up, he was like, “Legacy is such a poor word,” but what he did say was impact. Impact is the right word to describe it. For me, my impact is I want to be a ripple. That’s all I want. I remember there was one time I was taking a walk and I was near my apartment company. There’s a pond and there are buildings around that. I was taking a walk and God was like, “Pick up a pebble.”

I was like, “All right.” He said, “Throw it into the pond.” I’m like, “Okay,” and I threw it into the pond. It created a ripple effect and surprisingly, the ripple went as far as 90 feet. It kept going farther and farther and it created bigger waves. The ripples got bigger as it expanded, then it stopped because there was a fountain. Right.

God says, “You are the pebble. What I want you to do in this lifetime will create ripples that will last for hundreds of years to the point where people will not even know your name and of the impact that you cost, but that’s the beauty of it because in that case, it’s not about you. It’s about me. It’s about God, but it’s also about the world. It’s about the impact that you create.” That was a pretty impactful moment for me and that’s what I strive to do in life, especially with business, because as people downplay money and it’s like, “Money doesn’t buy you happiness.” It’s pretty dang important in this world. Money gets people to do a lot of things and a lot of good things.

Miotti Partners Capital is the name of my private equity firm. We set up a foundation from the get-go, and what we do is we take 10% of all our gross earnings on our side, not the investors, and we directly put it into the foundation. One of the things that I did is in the area that we’re doing investing in, again, the second fastest-growing county economically in America, I spent an entire year building relationships with church pastors, community leaders and asking them like, “What are the biggest hurts of the community?”

I found out one of those things is affordable housing and it’s like, “I’m in real estate. I can help with that.” The other thing is they have a huge heroin crisis. That’s one of the things that we’re looking to do because that’s a big ripple in and of itself. I would say, my life when it comes to impact is, create as many ripples as I possibly can whether I’m 20, 30, 40, 50 or 60. I will create ripples until God calls me home.

If you have your own clear definition of success and it’s not what the world says success is, you’re a pretty successful person. It means you have clarity and when you have clarity, you energy is going towards the right places.

I’ve certainly enjoyed this. If our audience wants to get in touch with you, what is the best way to do that?

I’m a guy that loves people. I love having as many friends and connecting with people as much as possible, so I’ll give out my personal email if that’s okay.

Go for it.

My primary email is Daniel@TheKwakBrothers.com. I have my email for my equity firm, but I check both pretty regularly, so you can go to MiottiPartnersCapital.com and find me that way, but Daniel@TheKwakBrothers.com is the email to reach me out.

Thank you so much. I do appreciate it.

Thanks.

 

Important Links:

• Kwak Brothers
• Miotti Partners Capital
• Daniel@TheKwakBrothers.com

 

About Daniel Kwak

Daniel Kwak first immigrated to the United States with his family at the age of 5. Due to a financially disadvantaged upbringing at the age of 20 he had a negative amount of 187.65 in his bank account. Motivated by continued financial hardship throughout his life he started learning about Real Estate Investing. The first two years he learned everything he could and at the age of 22 he did his first deal. By age 23 he had 83 rental units, along with having raised millions of dollars in capital and also having done a variety of different deals and strategies. At age 26, Daniel founded Miotti Partners Capital, a core-satellite fund that has introduced the equities fund management model into the Real Estate space for the first time. He has also traveled across the country training and mentoring hundreds and thousands of aspiring real estate investors. Daniel and his brother currently run an online financial education company, along with a Youtube channel (The Kwak Brothers) that currently has over 100k subscribers.  Overall, Daniel aspires to be a great husband, friend, and to be someone who just loves people.

The Kwak Brothers are entrepreneurs, real estate investors, mentors, and authors of many books. Today you may find them on YouTube or on stage speaking to empower individuals in the world of real estate investing. Our goal is to put you first and your problems first before all else!

The Kwak Brothers, Sam, and Daniel, at one point, were struggling to get started in real estate investing due to a lack of money and credit. Their biggest breakthrough was mastering the FORCE Strategy, a term coined by the Kwak Brothers, which allows users to acquire properties without using their own money or credit.