What if you could run a successful multifamily syndication business with other people’s money? And what if you could do it with no prior experience and achieve financial freedom in one to three years?

Here at the Michael Blank organization, we’ve helped 130-plus new investors do their first deal, using a step-by-step process we call the Deal Maker Blueprint.

On this solo episode of Apartment Building Investing, I walk you through the 8-step system to achieve financial freedom with multifamily syndications, explaining why it’s crucial to map your vision and connect with a network of likeminded peers early in your journey.

I describe how to get the skill set you need to speak to brokers and investors (in just 30 days!) and then work the system, analyzing deals and building your pipeline until you close your first deal. Listen in for insight on scaling a syndication business and learn how financial freedom leads to a life of significance!

Key Takeaways

How I respond to the common objections re: multifamily

• You don’t need real estate experience
• You don’t need any of your own money
• Just focus on getting your first deal

The Deal Maker Blueprint Step #1—Map Your Vision

• Calculate your freedom number
• Develop AM routine (affirmations, visualization)

The Deal Maker Blueprint Step #2—Get Connected

• Join support network, e.g.: mastermind
• Recruit advisor to hold you accountable

The Deal Maker Blueprint Step #3—Get the Skills

• Clarify size and location of first deal
• Analyze 5 deals and create sample deal package
• Recruit lender and property manager to team

The Deal Maker Blueprint Step #4—Work the System

• Analyze deals
• Talk to potential investors

The Deal Maker Blueprint Step #5—Build Your Pipeline

• Stay committed to activity vs. outcome
• Stick with it as long as it takes

The Deal Maker Blueprint Step #6—Close the Deal

• Submit LOI and negotiate offer
• Due diligence, secure financing and raise money

The Deal Maker Blueprint Step #7—Grow and Scale

• Law of First Deal attracts more deals, investors
• Build platform to market syndication business

The Deal Maker Blueprint Step #8—Make a Difference

• Financial freedom unlocks your true purpose
• Life of significance = help other people

Resources

Download Michael’s Deal Maker Blueprint

Join the Deal Maker’s Mastermind

Learn More About Michael’s Mentoring Program

Explore Michael’s Deal Maker Certification Training

Watch the Replay of Michael’s Platform Builders Masterclass

Financial Freedom with Real Estate Investing by Michael Blank

REIA

Mint

Financial Peace University

Affirmations on Apartment Building Investing EP247

The Miracle Morning: The Not-So Obvious Secret Guaranteed to Transform Your Life (Before 8AM) by Hal Elrod

The Miracle Equation: The Two Decisions That Move Your Biggest Goals from Possible, to Probable, to Inevitable by Hal Elrod

The (6-Minute) Miracle Morning

Syndicated Deal Analyzer

Building a Platform on Apartment Building Investing EP237

Podcast Show Notes

Michael’s Website

Michael on Facebook

Michael on Instagram

Michael on YouTube

Apartment Investor Network Facebook Group

So, you want to be a multifamily investor, but… You’ve never done a deal before. You don’t feel comfortable approaching potential partners. The pandemic has shut down all of the usual networking events. And you live six time zones ahead of the market where you’d like to invest.

But what if all of these challenges are really just opportunities to grow?

Suzy Sevier and Michael Barnhart are the husband-and-wife team behind Adventurous Real Estate Investors, a multifamily firm dedicated to helping avid travelers and adventure seekers create passive income and time freedom through apartment building investing. Suzy and Michael got interested in real estate during the lockdown, and in nine months, they have attended 10 virtual events, booked 600 networking calls, put together an experienced team and built a portfolio of 88 units—without leaving their home in the UK!

On this episode of Apartment Building Investing, Suzy and Michael join cohost Garrett Lynch and me to share their genius system for turning virtual events into networking opportunities and following up with the people they meet. They explain why they built a thought leadership platform right away and describe what kind of educational content they create. Listen in for insight on how Suzy and Michael turn roadblocks into opportunities, making the best of the situation they’re in to make their dream of financial freedom a reality!

Key Takeaways

How Suzy & Michael got interested in real estate

• Read Multiple Streams of Income during lockdown
• Took advantage of time off to network

How to turn virtual events into networking opportunities

• Take screenshot and follow up on LinkedIn
• Hop on calls and track potential partners

How Suzy & Michael found virtual real estate events

• Ask contacts about upcoming or favorite events
• Intentional search through social media

Suzy & Michael’s system for following up with contacts

• Ask about goals, send personalized follow-up email
• Guide to online thought leadership platform

What kind of educational content Suzy & Michael create

• Blog on mindset, market trends and investing
• Promote on social and send monthly email

When Suzy & Michael found the time for investing

• Work until 6pm UK time and then start networking
• 20+ calls/week = 600 calls in last 9 months

The team of 6 Suzy & Michael created from networking

• Partner to serve as boots on the ground in US
• Capital raiser, KP and experienced syndicator

How Suzy & Michael got past their fears of networking

• Remember that everyone starts in same place
• Ask to host meetings for W-2 job as practice

What it’s like for Suzy & Michael to work together

• Stepped on each other’s toes at first
• Things improved after clearly defining roles

Why Suzy & Michael focused on content right away

• Didn’t have deal, must prove selves different way
• Mimic successful investors they aspire to be

Suzy & Michael’s advice for aspiring multifamily investors

• Clearly define goals, get 1% better every day
• Devote time to ALL aspects of business

Connect with Suzy Sevier & Michael Barnhart

Adventurous Real Estate Investors

Michael & Suzy’s Free Checklist

Resources

Partner with Michael Through the Deal Desk

Learn More About Michael’s Mentoring Program

Join the Nighthawk Equity Investor Club

Explore Michael’s Platform Builders Framework

Learn More About Deal Maker Live

Multiple Streams of Income: How to Generate a Lifetime of Unlimited Wealth! by Robert G. Allen

BiggerPockets

Podcast Show Notes 

Michael’s Website

Michael on Facebook

Michael on Instagram

Michael on YouTube

Apartment Investor Network Facebook Group

Without the high-net-worth individuals who put money in our deals, we wouldn’t have a syndication business. And yet, most of us are terrible at showing our appreciation to the passive investors we work with. When a deal goes through, we send them a mug or hat with our logo on it and call it a day. But does that reflect what the relationship is actually worth to us? Is there a better way to do gifting?

John Ruhlin is the Cofounder of Giftology Group, a strategic gifting consultancy that helps sales leaders, business owners and executives unlock loyalty and turn clients into raving fans. He founded Giftology Group in college to market Cutco Cutlery as a high-end corporate gift to companies of all sizes, and today, John is the #1 distributor in Cutco’s 60-year history. John is also a sought-after keynote speaker and author of Giftology: The Art and Science of Using Gifts to Cut Through the Noise, Increase Referrals, and Strengthen Retention.

On this episode of Apartment Building Investing, John joins cohost Garrett Lynch to explain how he came to dominate the Cutco leaderboard using gifting to build relationships. He introduces us to the giftology system, describing how he leverages generosity to turn his best clients into salespeople and raving fans. Listen in for John’s insight on how much to allocate for gift-giving and learn how YOU can get a 10X return by investing in the people who make your business profitable.

Key Takeaways

How John came to dominate the Cutco leaderboard

• Learned relationship-building from mentor Paul
• Sent gifts to land meetings with big-time CEOs

John’s insight on the value of relationship-building

• Make decisions emotionally, justify with logic
• Gifting = mechanism for generating emotion

John’s concept of a return on relationship

• Initial $7K investment in gift to Cameron Herold
• $25K over 10 years = 50X return on relationship

The key ingredients of John’s giftology system

• Include handwritten note, name family members
• Personalize gift and be intentional about timing

What makes John’s giftology system work

• Generates like, trust and keeps top-of-mind
• People crave human-to-human relationship

How much a business should allocate toward gift-giving

• Reinvest 5% to 15% of net profits in relationships
• Invest in people already work with at some level

Why giftology requires a long-term commitment

• Genuine generosity vs. manipulation tactic
• Turn best clients into salespeople

John’s top examples of the benefits of giftology

• Invited to appear on Gary Vaynerchuk show
• 107% increase in referrals for John Bowen

Connect with John Ruhlin

Giftology Group

Download the Giftology System

Email john@giftologygroup.com

Resources

Join the Nighthawk Equity Investor Club

Learn More About Michael’s Mentoring Program

Giftology: The Art and Science of Using Gifts to Cut Through the Noise, Increase Referrals, and Strengthen Retention by John Ruhlin

Entrepreneurs’ Organization

Jab, Jab, Jab, Right Hook: How to Tell Your Story in a Noisy Social World by Gary Vaynerchuk

John on Marketing for the Now with Gary Vaynerchuk

Artifact Mug

The 5 Love Languages

Young Presidents’ Organization

Vistage

Books by Don Yaeger

Podcast Show Notes 

Michael’s Website

Michael on Facebook

Michael on Instagram

Michael on YouTube

Apartment Investor Network Facebook Group

When your WHY is big enough, you find a way. It doesn’t matter that you’re brand new to real estate investing. It doesn’t matter that you don’t have a college degree. And it doesn’t matter that you don’t have any money.

Sadhana Sabharwal is the real estate investor and coach behind Single Mom Millionaire and The No Money Down Academy training course. Sadhana was a recently-divorced, single mother of three boys when she got into real estate, and in four years, she built a portfolio of 46 doors. Sadhana’s focus is on buying, renovating and holding properties for positive cashflow, and she specializes in creative financing strategies that leverage other people’s money to buy real estate.

On this episode of Apartment Building Investing, Sadhana joins cohost Garrett Lynch and me to explain how a painful divorce inspired her real estate investing journey. She shares her approach to creative financing, describing how she funds deals with seller financing and why networking was so valuable in helping her learn the business. Listen in for insight on finding your WHY and learn how Sadhana’s positive mindset influences her success!

Key Takeaways

How Sadhana’s real estate investing journey began

• Husband left her for another woman
• Needed way to support three boys

How Sadhana got interested in real estate investing

• Work as law clerk, introduced to investor
• Invited to join small real estate club

How Sadhana funded her first deals with no money

• Open line of credit against house
• Home Depot card for renovations

Sadhana’s initial plan for real estate investing

• Find ways to buy without using own money
• Renovate, refinance and repeat process

How Sadhana overcame being female and a minority

• Joint venture with experienced investor
• Build trust with consistent networking

Sadhana’s advice on getting started with real estate

• Make use of free resources (Google, YouTube)
• Invest in real estate investing courses
• Ask questions at networking events

Sadhana’s favorite creative financing techniques

• BRRRR strategy
• Seller financing

How Sadhana got over the fear of asking for help

• Remember your WHY
• No choice but to figure it out

What needs to happen to have more women investors

• Give themselves more credit
• Role models and strong WHY

The top lessons Sadhana learned from her divorce

• Don’t make your life miserable making his hell
• Being happy and grateful is your choice

Connect with Sadhana Sabharwal

Single Mom Millionaire

The No Money Down Academy

Resources

Join the Nighthawk Equity Investor Club

What’s the Best Investment: The Stock Market or Real Estate?

Podcast Show Notes 

Michael’s Website

Michael on Facebook

Michael on Instagram

Michael on YouTube

Apartment Investor Network Facebook Group

In real estate school, they teach you that the money is made when you buy. But that just isn’t true for apartment buildings. Yes, you have to buy right. But in the multifamily space, the money is made in the execution of your plan to increase revenue and reduce expenses. And the asset manager is responsible for making sure that happens.

Daniel Simpson serves as Asset Manager at Nighthawk Equity, the investing arm of The Michael Blank organization. He has nearly 30 years of experience in multifamily, residential and commercial property management, developing an expertise in strategic business forecasting, budget allocation, complex data analysis and property financials. Daniel has an impressive track record of acquiring, renovating and repositioning C-class value-add properties in as little as 18 months.

On this episode of Apartment Building Investing, Daniel joins me to share his hands-on approach to asset management, describing what he does on his monthly site visits and how he helps property managers optimize revenue and reduce expenses. He walks us through the metrics he uses to identify property management issues and explains why all problems come down to people. Listen in for Daniel’s insight on the limited role property managers should play in construction projects and learn when you should consider hiring a full-time asset manager!

Key Takeaways

Daniel’s insight on the fundamentals of asset management

• Ensure investors’ goals met, returns on target
• Provide guidance to property managers

How often Daniel meets with property managers

• Speak with regional manager once/week minimum
• Unannounced visit to site managers once/month

When to take a hands-on approach with property managers

1. High turnover rate
2. Higher than normal vacancy rate
3. Lack of success in leasing units
4. Collection issues
5. Move-outs not entered timely

Daniel’s take on why all problems come down to people

• Tenants rent from STAFF vs. apartment itself
• Asset manager’s job = find breakdown in system

What metrics Daniel watches closely as an asset manager

1. Consistency in NOI
2. Occupancy (physical and economic)
3. Delinquency
4. Live PNL
5. Closing ratio

How to identify problems with property management

• Look at comps and communicate that with staff
• Secret shops to evaluate leasing staff’s performance

Daniel’s process for optimizing a multifamily business

• Start with maximizing revenue (add $5 to $10/unit)
• Minimize expenses next, reevaluate contracts

How Daniel thinks about managing expenses

• Ask questions about potential overspending
• Audit line items to keep property managers honest

What Daniel does on his monthly site visits to a property

• Walk vacant units, talk with property manager
• Visit with leasing agents and maintenance staff
• Verify that move-in files match what’s in system

Why property managers should not handle construction

• Distraction from filling units and collecting rent
• Better to hire GC or specialist (local or in-house)

The role a property manager should play in construction

• Go to early meetings, input on scope and timeline
• Hand GC keys needed to carry out project

What an average syndicator can do if they can’t afford a GC

• Use construction manager (part of management co)
• Build 5% in budget for specialist to oversee project

When it’s time to hire an asset manager for your business

• Depends on skill set of investors in joint venture
• As soon as you can afford it

Connect with Daniel Simpson

Nighthawk Equity

Email daniel@nighthawkequity.com

Resources

Learn More About Michael’s Mentoring Program

Join the Nighthawk Equity Investor Club

CLASS Leasing

Podcast Show Notes 

Michael’s Website

Michael on Facebook

Michael on Instagram

Michael on YouTube

Apartment Investor Network Facebook Group