Most people see adversity as a bad thing and avoid it at all costs. But what if setbacks are simply part of the journey to success? What if we can convert adversity into rocket fuel and use it to propel us to the next level?

Mike ‘C-Roc’ Ciorrocco is the CEO of People Building, Inc. and Cofounder of the emerging tech company Blooprinted. He was named one of the Top Business Leaders to Follow in 2020 by Yahoo Finance and was #1 on their list of Top Mortgage Professionals the same year. Mike is also the host of What Are You Made Of? and the bestselling author of Rocket Fuel: Convert Setbacks, Become Unstoppable.

On this episode of Financial Freedom with Real Estate Investing, Mike joins cohost Garrett Lynch and me to explain why adversity is a good thing, describing how he converts setbacks into rocket fuel to become unstoppable. He walks us through the 3 C’s for achieving any big goal, challenging us to get clear on what we want and commit to taking consistent action. Listen in to find out how Mike got into business with Grant Cardone and learn his approach to reframing adversity as your best teacher.

Key Takeaways 

 The rocket fuel that makes Mike unstoppable

• ‘Dirty fuel’ of difficult childhood
• Future dreams to pull forward

How Mike lifted himself out of a negative environment

• Mom encouraged to be leader
• Never bought other’s BS to justify failures

Mike’s 3 C’s for realizing you’re not stuck

1. Clarity
2. Commitment
3. Consistency

The importance of your peer group

• Bad things happen with wrong associates
• Surround self with people aligned with mission

Why people have a hard time committing to a goal

• Say it’s hard, try to make self right
• Program self to best-case scenario

Why Mike encourages people to tell their story

• Journey to success often invisible
• Adversity = part of process

The 3 reasons people don’t share their story

1. Don’t think people care
2. Embarrassed by story
3. Underestimate power to impact others

Why adversity is ultimately a good thing

• Helps course correct when getting off track
• Teaches how to get where going

Mike’s approach to bouncing back from a big setback

• SWOT analysis of worst-case scenario
• Don’t worry what other people think

How Mike got into business with Grant Cardone

• Read 10X Rule, got immersed in his content
• Connect with Grant’s team to share successes
• Ask to write forward for Rocket Fuel
• Work together to launch 10X Incubator

What Mike wants to be remembered for

• Make people feel unstoppable
• Elevate others to achieve potential

Connect with Mike Ciorrocco

Mike on Clubhouse

Mike on Instagram

Mike on LinkedIn

What Are You Made Of? Podcast

Blooprinted

Resources

Access Michael’s Blueprint to Your First Multifamily Deal Training

Learn About Michael’s Mentoring Program

Join the Nighthawk Equity Investor Club

Rocket Fuel: Convert Setbacks, Become Unstoppable by Mike Ciorrocco

Grant Cardone

10X Incubator

The 10X Rule: The Only Difference Between Success and Failure by Grant Cardone

Grant Cardone Sales Training University

The Miracle Morning: The Not-So-Obvious Secret Guaranteed to Transform Your Life by Hal Elrod

Vivid Vision: A Remarkable Tool for Aligning Your Business Around a Shared Vision of the Future by Cameron Herold

Podcast Show Notes

Michael’s Website 

Michael on Facebook 

Michael on Instagram 

Michael on YouTube 

Apartment Investor Network Facebook Group 

Investing out of your area is a challenge. And investing WAY out of your area, like in a different country, adds another layer of complexity to doing a deal. But as long as you’re willing to make a decision and start moving forward, there’s nothing you can’t figure out along the way.

Edna Keep is a real estate investment coach and author of Multiple Ways to Wealth: Creating Your Prosperous Lifestyle. Edna spent 15 years as a financial advisor before she was introduced to real estate, and today, her team owns a portfolio of 800 doors worth $65M in both the US and Canada.

On this episode of Financial Freedom with Real Estate Investing, Edna joins cohost Garrett Lynch and me to share the ins and outs of investing out of area and explain the differences between the US and Canadian markets. She describes the challenges of being a foreign investor, offering insight into what she looks for in a market and how she builds a power team on the ground around a deal. Listen in for Edna’s advice on making a decision and then making it work for you—even if you don’t have all the answers about how a deal will work!

Key Takeaways 

What inspired Edna’s interest in real estate

• Worked as financial advisor for 15 years
• Clients pull money for real estate deals

How Edna pitches seller financing deals

• Focus on property owners looking to retire
• Keep income stream, avoid taxable event

How Edna finds sellers that are planning to retire

• Real estate investment networks
• Referrals based on reputation

 Edna’s transition to larger multifamily properties

• Raise investor capital for Memphis deal
• Paid cash ($21,600 per door)

Why Edna prefers real estate over mutual funds

• Mutual funds subject to market cycles
• Real estate offers consistency

Why Edna is investing in US real estate markets

• Hot urban markets, high prices in Canada
• Challenging to get financing in Canada

The logistics of investing in a foreign market

• Find deal, build power team on ground
• Canadian corporation owns US LLC

What Edna looks for in a real estate market

• Focus on workforce housing
• Look for growing community

Why it’s okay to not have all the answers

• Multiple exit strategies available
• Work with partners

Edna’s advice for aspiring investors

• Make a decision, then make it work
• Don’t put all eggs in one basket

Connect with Edna Keep

Edna’s Website

Email edna@ednakeep.com 

Resources

Learn More About Michael’s Mentoring Program

Download Michael’s Free Report—What’s the Best Investment: The Stock Market or Real Estate?

Join the Nighthawk Equity Investor Club 

Financial Freedom with Real Estate Investing by Michael Blank

Robert Kiyosaki

National Real Estate Investors Association

Canada Mortgage and Housing Corporation

Multifamily Networking from Anywhere in the World on FFWREI EP260

Canadian Real Estate Investment Trusts

Podcast Show Notes

Michael’s Website 

Michael on Facebook 

Michael on Instagram 

Michael on YouTube 

Apartment Investor Network Facebook Group 

The vast majority of multifamily syndicators don’t stop with one property. And with each new deal, we start the stressful process of raising money all over again. But it doesn’t have to be that way! So, how does it work to raise capital for multiple deals through a fund?

Joe Fairless is the Cofounder and Partner at Ashcroft Capital, a multifamily firm that invests in 200-plus-unit value-add deals. The Ashcroft team has a portfolio of 38 properties, and in February of 2021, they pivoted from raising money for individual deals to raising capital through funds.

On this episode of Financial Freedom with Real Estate Investing, Joe joins me (and the attendees of Deal Maker Live) to discuss the pros and cons of raising money through a fund. He explains the benefit of being able to spread out your capital raise over time, bring on investors whenever they’re ready, and comingle money among deals. Listen in for insight on how Ashcroft structures its funds and find out if YOU’RE ready to start raising money for multifamily through a fund!

Key Takeaways 

How Joe achieves work-life integration

• Systems, people in place to run business when away
• Blurred lines between personal/professional life

How Ashcroft Capital structures its funds

• Class A — 10% preferred return, virtually no upside
• Class B — 7% pref with 70/30 split on upside

The downside of raising money for funds

• LP gets average of all deals (miss out on lightning in bottle)
• GP misses out on investors who prefer individual deals

Joe’s take on the advantages of raising money for funds

• Don’t have to land on specific equity amount for each deal
• Spread out capital raise over time
• Bring investors on whenever ready
• Creates consistency for investors (GP can comingle money)

When you should consider raising money through a fund

• Acquired 5 multifamily deals
• At least 2 exits under belt

The pros and cons of using Rule 506(c)

• Can advertise deal publicly but accredited investors only
• Don’t have to document preexisting relationship

Why Joe’s fund raises money for both class A and B properties

• 20% of investors class A, 80% of investors class B
• Class A shares upside over 10% for less risk

Connect with Joe Fairless

Ashcroft Capital

Resources

Learn About Michael’s Mentoring Program

Access the Recordings from Deal Maker Live

Join the Nighthawk Equity Investor Club

Tony Robbins on Work-Life Integration

Rule 506(c)

Rule 506(b)

Podcast Show Notes

Michael’s Website 

Michael on Facebook 

Michael on Instagram 

Michael on YouTube 

Apartment Investor Network Facebook Group 

So, you want to go for bigger deals, but your current network is pretty much tapped out. Maybe you struggled to raise $500K for your last deal, and you’d like to add a zero for the next one. How do you attract new investors and scale your capital raise?

Jonathan Barr is the Cofounder and Principal at JB2 Investments, a real estate investment firm specializing in 70-plus-unit value-add projects in high cashflow, landlord-friendly markets. Jonathan began his real estate career in 2009, facilitating the acquisition of 400 residential flips in the LA market that generated $22M in profit for his family’s business. 

On this episode of Financial Freedom with Real Estate Investing, Jonathan joins me to explain what inspired him to invest outside the LA market, sharing the mental blocks he had to overcome to buy properties in the Midwest. Jonathan walks us through his first multifamily deal in Oklahoma City, discussing why he had a hard time raising money for it and how he built an online platform to solve that problem. Listen in for Jonathan’s insight on using Twitter to attract new investors and learn how to scale YOUR ability to raise capital through content creation!

Key Takeaways 

How Jonathan got involved in real estate 

• Grew up in real estate family in LA
• Join flip, development business

The pros and cons of working in a family business

• Feel ultimate support and trust
• Hierarchy of parent-child relationship

What Jonathan learned in SFH acquisitions that translates to multifamily

• Conduct due diligence, use checklists to mitigate mistakes
• Discuss deals with team and bounce ideas

What inspired Jonathan to invest outside the LA market

• Buy-and-hold duplexes in LA only making 3% in equity
• Potential to triple cashflow by moving money to KC

Jonathan’s mental block around investing out of the LA market

• Unable to drive to properties and manage himself
• Hard to feel comfortable delegating responsibility

Why Jonathan made the shift to multifamily

• Margins on flips low, always chasing next deal
• Apartment buildings much more tax efficient

Why Jonathan joined our mentoring program last year

• Left family business in January 2020
• Used to having parents as mentors

Jonathan’s first multifamily deal

• Closed on 72-unit property in OKC in September
• Cut expenses by 25%, beating projections by 30%

Why Jonathan had a hard time raising money for his first deal

• First deal in OKC market (no track record there)
• Uncertainty of pandemic

How Jonathan built an online platform to raise capital

• Offer free eBook to build email list
• Post content daily on Twitter

Jonathan’s take on why content creation is so important

• Gives potential investors insight into business
• Shows thoughtful and thorough, builds trust

Jonathan’s insight on how to create content

• Get ideas from questions you get, other podcasts
• Block off time to write multiple posts at once

Jonathan’s advice for syndicators who are tapped out on capital

• Post video or blog every week
• Focus energy on single social platform

Connect with Jonathan Barr

JB2 Investments

JB2 on Facebook 

Jonathan on Twitter

Jonathan on LinkedIn

Resources

Register for Michael’s Platform Builders Masterclass

Learn More About Michael’s Mentoring Program

Enter the Financial Freedom Podcast Launch Contest

The Tax Stack Strategy: The Magic of Paying Less Tax Using Real Estate by Jonathan Barr

Upwork

Podcast Show Notes

Michael’s Website 

Michael on Facebook 

Michael on Instagram 

Michael on YouTube 

Apartment Investor Network Facebook Group 

Multifamily investors know the advantages of scale. But when it comes to residential assisted living or RAL, bigger isn’t always better. The big-box model often leads to poor healthcare outcomes, treating residents not as individuals but part of a process. So, how can investors scale senior living facilities without compromising care?

Loe Hornbuckle is CEO of Sage Oak Assisted Living and Memory Care and Cofounder of GoodHorn Capital, a real estate investment firm focused on recession-resistant asset classes including build-to-rent and senior living. Loe has a heart for improving the residential assisted living experience, providing residents with both the quality care associated with small RAL facilities and the advantages of scale.

On this episode of Apartment Building Investing, Loe joins cohost Garrett Lynch and me to share his unique, hybrid approach to building assisted living and memory care facilities. Loe explains how his father’s bad experience in hospice inspired his interest in RAL and offers insight on applying his strategy to multifamily deals. Listen in to understand how Loe is solving the scaling problems of residential assisted living and find out if the business of caretaking is right for YOU.

Key Takeaways

Loe’s approach to building assisted living and memory care facilities

• Unique physical plant and operations (boutique experience)
• Campus of 10 buildings with 16 residents in each

How Loe is solving the scaling problems of residential assisted living

• Campus of care homes can use third-party management
• Much easier to appraise and finance through bank

What Loe’s campus of care homes looks like

• 5 or 6 homes (9K ft2) + 2-story sales and admin office
• Homes have four quadrants and commons area

What inspired Loe’s interest in assisted living as an asset class

• Dad had really bad experience in hospice care
• Presentation and podcast on converting real estate to RAL

How an investor can get into the business of caretaking

• Invest as LP with operator you believe in
• Hire team with medical background

How Loe thinks about processes and systems in RAL

• Works only up to point to establish baseline
• Hire for heart and talent, get out of way

The critical hires for a residential assisted living facility

• Executive director and head of clinical team
• Look for integrator or visionary

How to apply Loe’s RAL strategy to multifamily investing

• Analyze deal if converted to age-restricted community
• Additional tool for competing on deals

Loe’s advice on getting started with residential assisted living

• Must have heart for business and strong WHY
• Determine core competencies of team, hire for gaps

Connect with Loe Hornbuckle

Loe on LinkedIn

GoodHorn Capital

Resources

Register for Deal Maker Live

Learn More About Michael’s Mentoring Program

Join the Nighthawk Equity Investor Club

Podcast Show Notes

Michael’s Website 

Michael on Facebook 

Michael on Instagram 

Michael on YouTube 

Apartment Investor Network Facebook Group