Today we’d like to introduce you to Carlos Delherra
Alright, so thank you so much for sharing your story and insight with our readers. To kick things off, can you tell us a bit about how you got started?
I am the son of immigrant parents who landed in California in the 1970s. I was born and raised in Compton, at the time, one of the most violent, dangerous places to live in the United States. My father came to this country in the 1960s under the US Bracero program, which imported cheap, seasonal farm labor from Mexico. He later worked as a janitor and never made more than minimum wage. My parents were hard-working people with third-grade educations who made the bold move to uproot and create better opportunities for their family.
My parents worked very hard and also did not want to rely on help. They did their best with the limited opportunities and resources they had. While we were financially poor, we always had a roof over our head and never went to bed hungry. My parents taught us the fundamental values and ethics that shape the person I am. Work hard, say thank you, respect your elders, and be good human beings.
For most of my life, I believed I had the worst luck growing up in Compton. But now I have fully embraced it. I consider myself incredibly lucky, to live in the greatest country in the world. I am proud to have overcome poverty and honor the courage of my parents who gave their kids a better life.
I graduated from UC Berkeley with a 3.5 GPA, was accepted into their prestigious and ultra- competitive Haas School of Business undergraduate program, and was even able to squeeze in a year studying abroad. I did this while working 20 hours a week with a full class schedule.
After reading Robert Kiyosaki’s Rich Dad Poor Dad in 2001, I decided to start investing in real estate while keeping my corporate job full-time. I joined The Real Estate Guys Mentoring Club and began laying an educational foundation in real estate investing. I attended their goals retreat and learned the powerful skill of goal setting. I figured out what I wanted out of life, why I wanted it, and how to do it. It was simple: I wanted to start my own business and produce enough passive income through real estate to achieve financial freedom by age 35.
I struggled to find a business venture so I focused on my real estate portfolio. I started buying properties and assembled a multi-million dollar portfolio in California, Nevada, and Texas. Then, 2007 happened, and the world was turned upside down with the mortgage meltdown and the beginning of the Great Recession. I not only lost it all, but also woke up one day and found out my net worth was negative half-a-million dollars!
That’s when an opportunity of a lifetime in student housing appeared. My current business partner George Alva saw an opportunity to purchase a large house for a student group seeking a home near the University of Southern California (USC). It was the perfect storm in a strong cash flowing niche: historically low real estate prices, minimum competition, at a tradition-rich university with increasing demand in an improving neighborhood. This set me off on a course that would far exceed my expectations.
George and I have been in business for over 16 years now. We started out wanting to replace our corporate incomes and managed to build a meaningful business together. Our top-notch property management company has 10+ employees and oversees approximately 100 units and 500 tenants. Our real estate investment firm and development company has a portfolio with $100 million in asset value. We are currently entitling a mixed-use, seven-story, 75,000 square foot development near downtown Los Angeles.
Would you say it’s been a smooth road, and if not what are some of the biggest challenges you’ve faced along the way?
Not at all. Growing up in one of the most dangerous cities in Los Angeles, I faced dreadful public schools, an inept and corrupt local government, and a police force that was feared. When I was 12, a person visibly high on drugs, put a gun to my head. I persuaded him that killing me wasn’t worth it and did not lose sleep that night. As risky and life-threatening as it was to move to Compton, my hard-working parents boldly uprooted our family for better opportunities. My parents did their best with limited resources. Still, the pain and shame of poverty impacted me tremendously and I was determined to find a way out.
When I started my business career, I still wore the label of “disadvantaged” that I took from Compton, but I had learned to embrace my underdog status because it pushed me to be stronger, more confident, and more tenacious. It became a superpower. I loved the idea of being underestimated and going out to the world to prove people wrong. As I climbed the corporate ladder, the shame of poverty I felt growing up turned into a source of pride. When I failed the “first half” of my real estate career during the Great Recession in 2008, this mindset allowed me to quickly rebound from the bottom as it was a familiar place.
Failure is a blessing, the best teacher, and necessary for success. Once we embrace this, we have the freedom to dare to be great. We shed the fear that paralyzes most people and unbottle the courage that is inside every one of us. The only thing holding us back is ourselves. As Ralph Waldo Emerson advises, “Shoot for the moon. Even if you miss, you’ll land among the stars.”
Great, so let’s talk business. Can you tell our readers more about what you do and what you think sets you apart from others?
Mosaic Investment Partners, which owns and operates over 25 student housing properties (100+ units) at USC with $100 million of total asset value and has $60 million of student housing projects under development. Mosaic Investment Partners also owns Mosaic Student Communities, one of the leading student housing property management companies at USC, which manages over 60 properties and 600 tenants.
Mosaic Student Communities is a property management company focused primarily on the student housing market at USC. The Company’s core focus is the leasing and management of upscale student housing in major university markets. Mosaic Student Communities is committed to providing an exceptional level of service to our residents, owners, contractors, vendors, and employees. We strive to exceed the expectations of all of our stakeholders while providing a fun, exciting, and enriching living experience for our student-residents.
Mosaic Investment Partners focuses on value-add acquisitions and development of high-end student properties. We are currently in development of Tessera at USC (www.tesserausc.com/), a 57-unit, 237-bed student housing mixed-use property less than a half-block from campus.
How do you define success?
Success is achievable for all of us and can be simple, but not easy. We have to be willing to do the things most people will not on a daily basis. Be consistent, determined, and willing to put in the hard work. Success, as Jim Rohn states, “is the result of nothing more than a few simple disciplines, practiced every day.”
Contact Info:
- Website: https://livewithmosaic.com/
- Instagram: https://www.instagram.com/livewithmosaic_/
- Facebook: https://www.facebook.com/mosaicstudentcommunities?ref=hl
- LinkedIn: https://www.linkedin.com/in/carlosdelgado/
- Youtube: https://www.youtube.com/user/TheMosaicChannel
- Other: https://www.tesserausc.com/
