Merry Christmas and Happy Holidays to all. I wanted to do something different for you for today’s episode and wanted to really focus on why we spend a lot of time highlighting marketing and raising capital for apartment investing. I realized many of you may not know my story and how I got into real estate and capital raising. That’s why I decided to highlight an interview I did with Steven Pesavento on his show, the Investor Mindset Podcast.
We talked about my background, growing up in a scarcity environment, making it to corporate America, and ultimately becoming a real estate investor. Much of our discussion focused on raising capital for real estate deals and overcoming the issues that many investors face.
I discuss the 6 C’s of Raising Capital and why developing a marketing plan is critical if you are serious about growing your real estate business.
How to Raise Capital Without Just Asking Your Friends and Family
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How my past shaped my financial future
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Starting out as an executive at GM
I was selling plastic gloves to beauty salons, which taught me the value to putting the right (offer) in front of the right audience at the right time.
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How a heartbreaking moment at GM during a bankruptcy changed my trajectory
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The Rich Dad, Poor Dad connection
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Multifamily Investing as an adult side-hustle
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Taking the equity in my first 2-unit property to create a six-figure line of credit to buy an 8-unit property.
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How to get started with raising capital
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Before you can raise money, you have to understand your goals as well as your limiting beliefs
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How to change your focus (mindset) away from your limiting beliefs
Raising capital concerns fall into one of three buckets:
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I don’t have the network to raise money
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I don’t want to ask friends or family for money,
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I don’t have the education or knowledge to feel comfortable raising capital
Understanding the 6 C’s of Raising Capital
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Confidence (knowledge is power)
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Credibility (leverage the people around you)
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Connections (family and friends are not your ideal investor)
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Channel (What platform you use to communicate your message)
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Communications (What’s your message?)
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Consistency (demonstrating your commitment level)
A good salesman is not trying to sell you, they are trying to educate you
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How to structure your message if you’re starting out in real estate investing
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Understanding the different channels to use to build your network and get your message out
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How to structure your messaging
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Creating different tiers of messaging
Educate and inform and position yourself as a subject matter expert.
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How to create an avatar (customer profile) of your ideal investor
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How understanding your customer profile is a vital piece to your investing career
Developing a marketing strategy is paramount to the success of your business
What Success Looks Like to Me:
Freedom and independence
Daily Success Habits:
Journaling and having one hour to myself every morning
The Book I’m Loving Right Now:
Relentless: From Good to Unstoppable (Tim S. Grover)
Mentorship:
When I first started out, I was concerned I was going to mess up someone else’s money, so I owed it to myself and my investors to invest in a mentor. Looking back, I wish I would have doubled-down on mentoring.
What Drives Me Everyday:
My legacy and making an impact.