We had the good fortune of connecting with Allon Avgi and we’ve shared our conversation below.
Hi Allon, how do you think about risk?
I love taking risks. When I was broke and had nothing to lose, risking everything I had was hard because the loans I was accessing weren’t as calculated as I would’ve liked. Today, as I keep building my portfolio and money comes in, I see it all as more collateral to leverage into bigger more calculated risks. Without constant risk taking, I wouldn’t have close to what I have today.
What should our readers know about your business?
I buy, renovate and develop land & typically run down properties all over New York.
What sets me apart is my incredible circle of partners who, through them, find deals, raise capital and streamline the development phase of my projects in record time. The ability to move faster than my competitors gives me a major advantage when it comes to buying deals and bringing them to market first. What gets me excited is working on bigger projects week after week. Completing a smaller project while working on a much bigger one shows how far & fast my company is growing!
To successfully complete the amount of projects I’ve gotten done over the past 4 years was NOT easy. I must have worked as much as a normal person would work in 20 years in the last 4. The amount of stress and moving parts that need to be brought together in order to build a rental portfolio when starting with $0 is enormous and I applaud anyone that pulls it off!
I’ve learned that being honest is the only way to do business. I am very direct and cut straight to the chat when it comes to everything. I think that trait has helped me tremendously in my business to date. There are always opportunities to make money by lying and hiding things but that money will not help you get ahead. It will slow you down and become a burden! Do business the right way, and honestly. If someone doesn’t like your honesty, they are not fit to work with you.
I want the world to know that I am just getting started. The beginning has been a beautiful journey so far and I am extremely eager to 100x what I’ve built over the next 10 years.
Any places to eat or things to do that you can share with our readers? If they have a friend visiting town, what are some spots they could take them to?
Ah. Great question. I love blending fun and work. Everything has to fit around my work schedule; because of that I would start with showing them whatever projects I have in the pipeline. Field trips to the jobs and food stops at whatever restaurants have the best yelp reviews nearby! Saturdays are strictly fun and no work so we’ll get a taste of The Hamptons or Manhattan together. Nights will probably end at friends get togethers or in Brooklyn where the craziness doesn’t stop.
Shoutout is all about shouting out others who you feel deserve additional recognition and exposure. Who would you like to shoutout?
My mother & father who always believed in me. Growing up, I would show them my ideas and they always cared, or at least pretended to! I loved that endless support, knowing that they believe in me through my failures and success was always a great feeling.