Real Estate Investing – Page 30

Garrett at Nighthawk Equity

National Real Estate Investors Association

Traction: Get a Grip on Your Business by Gino Wickman

ActiveCampaign

Deal Maker Live

The Deal Maker’s Mastermind

David’s Free eBook: Personal Cashflow Formula

MB 241: What to Say to Potential Multifamily Investors – With David Kamara

November 23, 2020/in Real Estate Investing/by Garrett Lynch

What is the best way to approach the conversation with potential multifamily investors? How do you communicate the benefits of investing in apartment buildings over other asset classes and assure them that their money is safe with you—even if you’re new to the space?

David Kamara is the Founder and Managing Director of Cape Sierra Capital, a multifamily syndication firm out of Ann Arbor, Michigan. He has 15 years of investing experience in the real estate space, getting his start with a portfolio of residential single family and duplex units before transitioning to apartment buildings and townhome communities. Today, David owns 200-plus units and serves as a mentor on the Michael Blank team.

On this episode of Apartment Building Investing, David joins cohost Drew Whitson and I to explain how he coaches his mentoring students to approach the conversation with potential investors, describing how multifamily isn’t subject to the same risks as single family rentals. He weighs in on what helps aspiring syndicators believe in their ability to succeed, exploring how knowledge helps us visualize what’s possible but action is key in making it real. Listen in for David’s insight on getting your priorities straight and learn how underwriting to cashflow makes multifamily a good investment no matter what’s going on in the world.

Key Takeaways

What David’s been up to since his last appearance

Find competitive deals with good return for investors
Develop personal cashflow formula (free eBook)
Share knowledge through platform, mentoring

What helps aspiring multifamily investors believe it’s possible

Knowledge (i.e.: understanding of loans, taxes)
Personality open to learning new things

How COVID changed the way David talks to investors

Proactive in reaching out to investors
Open about potential for no distributions

How COVID has impacted David’s underwriting

Assume minimal rent increases for next 3 years
Take on longer, fixed-rate debt (HUD loans)
Prepare investors for longer hold periods

David’s advice around market timing

Don’t worry about things can’t control
Plan for same cap rate at sale, focus on cashflow
Choose markets with job diversity

How David coaches his students on talking to investors

Explain cash-on-cash return and appreciation
In control of both factors with multifamily

Why David invested in the Platform Builder Incubator

Eventually run out of investors as business scales
Attract high-income earners, serve more people
Accelerate growth (program tailored to syndicators)

David’s plan to produce content consistently

Write blogs on common questions
Considering podcast as medium

David’s advice for aspiring multifamily syndicators

You have to start (buy something)
Prioritize what’s important in life
Hustle to find deals

Connect with David Kamara

Cape Sierra Capital

Resources

David Karmara on Apartment Building Investing EP182

HUD Loans

HubSpot

Michael’s Health Crisis on Apartment Building Investing EP230

MB 240: How to Get Unstuck & Get Into Action – With Matt Brawner

November 16, 2020/in Real Estate Investing/by Garrett Lynch

A lot of would-be multifamily syndicators get stuck, sometimes out of fear and sometimes because they want to plan every step of the process before they dive in. But that’s not how entrepreneurship works! In fact, the most successful real estate investors are the ones who are willing to put themselves out there and learn by doing—taking consistent, imperfect action.

Matt Brawner is Managing Partner at Minnesota Capital Management and Northwoods Servicing, a real estate investing firm and property management company based in Coon Rapids, Minnesota. Matt and his partners have achieved considerable success turning their $5K investments into a portfolio worth more than $20M, but his greatest passion is teaching. To that end, Matt now serves as a mentor with the Michael Blank organization.

On this episode of Apartment Building Investing, Matt joins cohost Drew Whitson and I to explain how he got into real estate, discussing how he formed a successful partnership with five other investors and what inspired their transition from townhomes to multifamily properties. He introduces us to the idea of setting up debt funds to raise capital and shares the pros and cons of having your own property management company. Listen in for Matt’s insight on scaling a multifamily business and learn how YOU can get unstuck and get into ACTION to become a successful real estate syndicator!

Key Takeaways

What inspired Matt to become a mentor

Career = function of faith
Help others achieve time freedom

How Matt got into real estate

Realized no influence on stock market
Local opportunity to rent townhomes

What makes for a good partnership

Communicate well (100% honesty)
Equal share of financial burden

Matt’s transition from townhomes to multifamily

Local operator had deal but needed capital
Matt’s team had money to invest

Why Matt’s team had set up debt funds

Needed capital to scale business
Attracts investors who want certainty

Matt’s top lessons learned in real estate investing

Get into multifamily much sooner
All properties not created equal

The benefits of having a property management company

Own more of value chain
Insight into local deals

Matt’s advice on property management for new investors

Use third party when getting started
Allows to scale quicker, more efficiently

The traits of a successful multifamily syndicator

Willing to learn by doing
Willing to wade into unknown

Matt’s insight on underwriting post-COVID

Focus on forced appreciation
Add value to drive incremental revenue

What aspiring investors get stuck on

Fear
Desire to plan out everything in advance

The challenges Matt faces in scaling his business

Find landlord-friendly markets
Intentional networking to find deals

Connect with Matt Brawner

Matt on LinkedIn

Email matt@nwsproperties.com

Resources

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

Traction: Get a Grip on Your Business by Gino Wickman

National Multifamily Housing Council

Star Capital Management Group

MB 239: Developing a Can-Be-Done Mindset for Multifamily – With Jeremy LeMere

November 9, 2020/in Real Estate Investing/by Garrett Lynch

So, you’ve got some experience in single family rentals. And you KNOW that multifamily investing would help you achieve financial freedom on an accelerated timeline. But you just don’t BELIEVE that you can do it. What can you do to overcome that hurdle and develop the confidence to take on your first deal?

Jeremy LeMere is the Principal at Star Capital Management Group, an equity real estate investment firm based in DePere, Wisconsin. He began his investing career over a decade ago, rehabbing single family and duplex properties. Since then, he has grown his personal portfolio to include multifamily, self-storage and commercial assets. Jeremy recently quit his corporate engineering job to pursue real estate full time, and he also serves as a mentor with the Michael Blank organization.

On this episode of Apartment Building Investing, Jeremy joins me to explain how seeing his net worth drop during the Great Recession inspired his interest in real estate. He walks us through his early investments in single family homes and duplexes, discussing why he made the shift to multifamily to replace his W-2 income much faster. Listen in for Jeremy’s insight on raising capital with an online platform and learn how YOU can leverage mentorship to overcome limiting beliefs and invest in your first multifamily deal!

Key Takeaways

What inspired Jeremy’s interest in real estate

Committed to saving and investing as much as possible
Net worth cut in half, 401(k) collapsed in recession

Jeremy’s initial real estate investing strategy

Bought and operated duplexes in local area
Denied loan on third property
Build portfolio of SFH with BRRRR method

How Jeremy funded his investments without bank loans

Liquidate stocks, use 401(k) and savings
Work with credit union
Start flipping SFH and reinvesting profit

What inspired Jeremy’s shift to multifamily

Passed over for promotion at corporate job
Changed goal from replace income at 55 to 45

How Jeremy got started with multifamily

Join Michael Blank mentoring program
Develop can-be-done mindset

The timeline on Jeremy’s first multifamily deal

Started mentoring program in January 2018
Identified asset with value to unlock by March
Acquired few months later (at asking price)
Took from 82% to 98% occupancy in 3 months

The opportunities Jeremy identified in his first deal

Value-add and increase rents as units turn
Address vacancy gap (comps 100% occupancy)

Jeremy’s approach to quitting his corporate job

Gradually empower team to take over duties
Last day of work = non-event

How Jeremy’s life is different as a full-time investor

Free up time to enjoy lake house with family
Able to help others as career coach, mentor

Jeremy’s decision to add self-storage to his portfolio

Local opportunity for 2 sites with 300 units
Closed on 7/3, increase in occupancy already

How Jeremy raised money for the self-storage opportunity

Needed $500K (2/3 from outside investors)
Partner on funding side of wholesaling, flips

Why Jeremy is building a platform to raise capital

Weakness in self-promotion and marketing
Use automation to attract new investors

What Jeremy is working on right now

Look for next big syndication deal
Build out platform with content

Connect with Jeremy LeMere

Resources

Register for Michael’s Platform Builders Incubator

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

The 4-Hour Work Week: Escape 9-5, Live Anywhere, and Join the New Rich by Timothy Ferriss

MB 238: Plug into a Multifamily Network & Fast-Track Your Success – With Barry Flavin

November 2, 2020/in Real Estate Investing/by Garrett Lynch

How do you land your first syndication deal without a track record in multifamily? Well, it all starts with networking. Networking with brokers. Networking with potential investors. Networking with other multifamily operators. And if you can get plugged a real estate investing community, you can leverage the knowledge and experience of investors who’ve been where you want to go and fast-track your success!

Barry Flavin is a mentor with the Michael Blank organization and Managing Partner at New Mission Capital, a multifamily investment firm out of Detroit, Michigan. He got his start in real estate eight years ago, building a portfolio of 30 single family rentals before making the shift to multifamily. Barry has a background in software sales and spent six years working as an air traffic controller before discovering real estate, and today, he owns 387 units, leveraging his expertise in investor relations to grow the business.

On this episode of Apartment Building Investing, Barry joins cohost Drew Whitson and I to explain how an air traffic controller ends up in real estate, walking us through his transition from building a portfolio of single family rentals to raising capital for large multifamily deals. He discusses the advantages of focusing his investments in a single market, describing how he found his partner, Josh, and what they do to secure consistent deal flow. Listen in for Barry’s insight on avoiding expensive mistakes with 1:1 mentoring and find out how YOU can accelerate your success through the Michael Blank community.

Key Takeaways

What inspired Barry’s interest real estate

Looking to supplement government pension
Desire to travel in retirement

Barry’s initial real estate investing strategy

Fix up and sell personal residences
BRRRR method (build SFH rental portfolio)

How Josh funded his early real estate investments

Start with own cash, retirement accounts
Borrow from private lenders and refinance properties

How Barry and Josh structure their partnership

Josh finds and underwrites deals + operates portfolio
Barry’s focus on investor relationships, raising capital

How Barry raised $2.8M for his first 144-unit deal

Lot of phone calls, emails, coffees and dinners
Scrambling after few weeks but fell into place

Barry’s advice on making a capital raise less stressful

Touchpoints 1, 2 and 3 while still looking for deal
Show potential investors sample deal package

How Barry benefits from focusing on the Detroit market

Knowledge of best neighborhoods to invest
Track record + broker relationships = deal flow

Barry’s advice for aspiring investors without a track record

Network with brokers and investors
Add value to partner (borrow their reputation)

The #1 thing new syndicators need to do to be successful

Deep dive into online content to learn language
Get plugged into community

Barry’s insight on having in-house property management

Can outsource in beginning, interview for best fit
Consider in-house team as business scales

How Barry thinks about adding to his team

Weakness around building funnel for new investors
May hire admin to streamline marketing strategy

Barry’s take on goal setting for multifamily

Don’t have set number of units
Consistently do GOOD deals (minimum of 2/year)

Barry’s advice to his younger self

Learn to use money as tool much sooner
Accelerate real estate with 1:1 coaching program

Barry’s advice for aspiring multifamily investors

Be coachable and follow through
Don’t get stuck in analysis paralysis
Learn from every deal (even if don’t go through)
Don’t listen to naysayers

Connect with Barry Flavin

New Mission Capital

Email barry@newmissioncapital.com

Barry on LinkedIn

Resources

CDC Moratorium on Evictions

Syndicated Deal Analyzer

Josh Sterling on Apartment Building Investing EP091

Sample Deal Package

Josh Gozlan on Apartment Building Investing EP078

Deal Maker’s Mastermind

Garrett Lynch on Apartment Building Investing EP231

Register for Michael’s Live Webinar on 10/28

MB 237: Biggest Myths about Building a Platform to Raise Capital – With Patricia Sweeney

October 26, 2020/in Real Estate Investing/by Garrett Lynch

Wish you could attract an audience of engaged, eager investors like we do at Nighthawk Equity? Have you thought about building a thought leadership platform but rejected the idea because you’re not a writer or a techie? Or because you don’t like the way you look or sound on camera? Are you ready to get over those false beliefs and scale your capital raise in a matter of months?

Patricia Sweeney is the Marketing Automation Consultant behind Ideally Media Group, a firm that helps entrepreneurs and business owners implement content marketing systems to attract more of the right clients and significantly increase their revenue. With 10-plus years of experience in online marketing, Patricia has been the secret weapon behind some of the biggest names in the digital marketing space. She is also part of the Michael Blank team, working hands-on with the students in our Platform Builders program.

On this episode of Apartment Building Investing, Patricia joins me to discuss the limiting beliefs that stop syndicators from building an online thought leadership platform. She explains why you DO have time and why you CAN justify the investment, describing how our students are attracting new investors—sometimes even before the program is over! Listen in for Patricia’s insight on avoiding the biggest mistakes syndicators make in building a platform and learn how YOU can scale your capital raise through our Platform Builder Incubator.

Key Takeaways

The advantages we have around platform building in 2020

EASY to get message to many through social media
Tech never more powerful or easier to use
Outsource tasks to highly qualified global VAs

What limiting beliefs stop syndicators from building a platform

I’m not a techie or a writer
I don’t have the time
I can save money by doing it myself
I can’t justify the investment

Why you DO have time to build a thought leadership platform

Delegate/automate production and distribution
Don’t have to become digital marketing expert

Why you aren’t really saving money by doing it yourself

Time = precious resource, better spent finding deals
Focus on what drives business forward (raise capital)

Why you CAN justify the investment in building a platform

Leverage content marketing to attract more investors
Reinvest 20% of revenue and SCALE UP capital raise

The biggest mistakes syndicators make in building a platform

Thinking you only need a website
Not having a lead magnet
Not communicating with your list
Trying to do everything at once
Striving for perfection

My advice on avoiding overwhelm in building a platform

Build core platform as foundation
Layer on one lead gen program at a time

Connect with Patricia Sweeney

Ideally Media

Resources

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

What Is a Platform & Why Should You Build One? on ABI EP235

Megan’s No-Nonsense Women’s Guide to Investing

MB 236: The Financial Freedom to Do What You Love – With Megan Lamke

October 19, 2020/in Real Estate Investing/by Garrett Lynch

Time is precious. Are you spending your days doing what you love with the people you love? What if multifamily real estate could help you do just that? What if you could achieve financial freedom fast—regardless of your current financial situation?

Megan Lamke is Managing Partner at Megan Lamke Real Estate, a firm that helps driven women turn their grit into true financial growth. She built a network of real estate investors working for Wells Fargo Home Mortgage, and once she and her husband, Darik, had paid off their personal debt ($535K in under 5 years!), they started investing passively in multifamily syndications. Megan quit her corporate job to pursue active investing full-time in April of 2019, and today, the Lamkes have a portfolio of 1,491 units valued at $344M.

On this episode of Apartment Building Investing, Megan joins me to explain why she took a W-2 job after college (despite wanting to become a real estate entrepreneur) and what she and Darik did to live below their means and pay off their debt so fast. She describes what she did to find a good operator as a passive investor and how she leveraged her sales and marketing background to transition to active investing. Listen in for Megan’s insight on how to raise capital at scale with a platform and learn how YOU can achieve financial freedom and spend time doing what you love!

Key Takeaways

When Megan started thinking about real estate

Parents struggled financially, read Rich Dad Poor Dad at age 10
Entrepreneurship and business clubs in high school and college

Why Megan took a W-2 job after college

Needed to pay off student loan debt before leave Rat Race
Learned sales skills, got to work with real estate investors

What Megan and her husband did to live below their means

Sold luxury cars, bought cars for cash
House hacked 6BR (rented to rugby teammates)
Side hustle as sales and marketing consultant

How Megan and her husband got on the same page financially

Financial literacy class as part of premarital counseling
Set goal to pay off debt, achieve financial freedom

How Megan’s strategy shifted once she was out of debt

Sold 6BR house to invest passively in multifamily syndications
Goal to replace corporate salary as quickly as possible

Megan’s advice on finding a good multifamily operator

Look at track record, online reviews, lawsuits and marketing efforts
Ask questions re: where properties located, how managed, etc.

What Megan’s last day of work was like

Surreal (like leaving the Matrix)
Culmination of goal that started in fifth grade

How Megan’s life is different now that she’s a full-time investor

Control own time (decide when to work)
Spend more time with daughter, volunteering

What active investing looks like for Megan

Use SDA to underwrite 10 deals/day (300 in 2019)
Leverage background in sales and marketing to build out platform

What Megan has done to scale her capital raise efforts

Done-for-you tech stack to automate lead gen, booking calls
30 to 37 calls with prospective investors every week

What Megan is doing to attract prospective investors to her platform

Create content (social media, videos, blog and weekly webinar)
Sponsor real estate events, promote lead magnet on podcasts

How Megan describes her ideal investor

Successful career woman age 40-55, primary breadwinner
Gritty and knows how to get stuff done

How the automation works to turn interested prospects into investors

Receive automated email with free download
Follow up with drip marketing campaign to encourage call

How much capital Megan has raised through her online platform

$18M raise to close on $49M apartment building
In process of closing on $18M 503(c)

How raising capital looks different now that Megan has a platform

Don’t have to call each investor, track follow-up manually
One centralized management tool that automatically follows up

Connect with Megan Lamke

Megan Lamke Real Estate

Megan on Facebook

Megan on Instagram

Megan on LinkedIn

Resources

Rich Dad Poor Dad by Robert T. Kiyosaki

Business Professionals of America

DECA

Dave Ramsey

Robert Kiyosaki

Financial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even without Experience or Cash by Michael Blank

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

Michael’s Syndicated Deal Analyzer

MB 235: What Is a Platform & Why Should You Build One?

October 12, 2020/in Real Estate Investing/by Garrett Lynch

What is the secret to growing a multimillion-dollar multifamily syndication business? The strategy that has worked for my team, allowing us to raise MILLIONS in just a few days, starts with building an online thought leadership platform.

On this episode of Apartment Building Investing, I’m walking you through the three pillars of platform building for multifamily syndicators. I explain WHO should consider building a platform and WHY it’s so valuable, describing how it helps us find more investors, do more deals and scale the business.

I discuss how to attract your ideal investor and then serve them with valuable content, ultimately turning your audience into raving fans who want to invest with you. Listen in for insight on reinvesting a portion of your revenue to grow a multimillion-dollar syndication business and learn how a thought leadership platform can help you 10X your capital raise in just 18 to 24 months!

Key Takeaways

Who should consider building a platform to raise money for syndications

You’ve raised at least $500K but need more investors
You’re looking to 10X your capital raise capacity
You want to raise millions quickly and effortlessly

What a platform allows you to do as a multifamily syndicator

Automatically attract ideal investors
Do more deals, create more revenue
Reinvest in platform to attract more investors
Educate audience on real estate syndications

The 3 pillars of platform building for multifamily syndicators

Attract right audience
Develop raving fans
Scale your business

Pillar #1: Attracting the Right Audience

Identify ideal client avatar (investor)
Capture leads with free lead magnet

Pillar #2: Developing Raving Fans

SERVE with content + LEAD to action
Promote message to grow email list

Pillar #3: Scaling Your Business

Make compelling offer that generates revenue
Reinvest portion of revenue (continue growth)

The ROI on building a platform to raise money for syndications

For every 32 leads, one ends up investing $70K
Each new investor generates $2,100 in acquisition fees
Reinvesting 25% will 10X capital raise in 18-24 months

Resources

MB 234: Earn Your Master’s in Real Estate with a Mentor – With Josh Gorokhovsky

October 5, 2020/in Real Estate Investing/by Garrett Lynch

Yes, an education in business or finance is a good foundation for a real estate investor. But spending time with an experienced syndicator and watching a deal happen firsthand is more valuable than any degree. So, how do you find a mentor and convince them you’re worth their time?

Josh Gorokhovsky is the Managing Principal at Telos Properties, a real estate investing firm that focuses on 2- to 4-unit new construction, build-to-rent projects in Los Angeles. After graduating from USC in 2015, he interned for LA Properties under company principal Scott Rosenfeld. Since founding Telos in 2017, Josh has placed more than $7M in equity for investors and managed $20M worth of real estate transactions.

On this episode of Apartment Building Investing, Josh joins cohost Drew Whitson and I to explain how he broke into real estate at the age of 21, describing the persistence it took to get an informal internship with his mentor. He gets real about the 900 hours he dedicated to finding his first deal and why he niched down to the new construction, build-to-rent model. Listen in to understand what gave Josh the confidence to go solo at 23 and get his advice on working for free early on to build the network and experience you need to succeed!

Key Takeaways

How Josh got into real estate

Inspired by Kiyosaki’s Rich Dad Poor Dad
Introduced to mentor by family friend

Josh’s initial strategy for breaking into the industry

Find someone doing what he wanted to do
Put in time to understand fundamentals

How Josh’s sales background prepared him for real estate

Learn to deal with rejection, build backbone
Build routines and systems to follow up

How Josh got in the door with his mentor

Persistence (call regularly to ask for internship)
Dedication to finding deal after 9-to-5

Josh’s transition from tech sales to real estate

Spent year working for hard money lender
Cushion of income while learning real estate

What gave Josh the confidence to go solo

Moved back in with parents
Mentor willing to teach

Josh’s first deal

Lead from mailer dropped in neighborhood
Piece of equity in single family rehab project

Josh’s first solo deal

Ground-up duplex development (less risky)
Family friend was first private investor

How Josh has scaled up his business

Use leverage of previous project to go to next
Continue cold calling, reaching out to agents

What Josh is working on today

8 development projects in the works
6 units under management

How Josh navigated the times when he was down on himself

Positive self-talk, innate belief in self
Encouragement of mentor

Josh’s advice for aspiring real estate investors

Get ‘master’s degree’ with mentor
Get taste of everything, then determine niche
Provide value to everyone you work with

Connect with Josh Gorokhovsky

Email josh@telosproperties.com

Resources

Rich Dad Poor Dad by Robert T. Kiyosaki