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Apartment Building Investing with Michael Blank Podcast

Updated 7 days ago

Rank #80 in Investing category

Business
Education
Investing
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Invest in Apartment Buildings with Private Money

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Invest in Apartment Buildings with Private Money

iTunes Ratings

401 Ratings
Average Ratings
347
27
11
6
10

Educational and insightful

By jamespatrickjp - Aug 07 2018
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Great podcast with high quality guests and a good mix of education and inspiration

Great content and delivery!

By timhubbard - Jul 31 2018
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Thanks Michael for putting out such great content and delivering it so well!

iTunes Ratings

401 Ratings
Average Ratings
347
27
11
6
10

Educational and insightful

By jamespatrickjp - Aug 07 2018
Read more
Great podcast with high quality guests and a good mix of education and inspiration

Great content and delivery!

By timhubbard - Jul 31 2018
Read more
Thanks Michael for putting out such great content and delivering it so well!
Cover image of Apartment Building Investing with Michael Blank Podcast

Apartment Building Investing with Michael Blank Podcast

Latest release on Feb 10, 2020

All 201 episodes from oldest to newest

MB 200: Best of 2019 – With Ken McElroy, Robert Helms, Kyle Wilson, Robert Kiyosaki, Hal Elrod & Grant Cardone

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What do the most successful among us have in common? The biggest of the big-name real estate investors and influencers I’ve had the pleasure to interview on this podcast share one thing—a mission beyond money. Yes, financial freedom is important. But without purpose, what’s the point?

On this episode, I’m celebrating our 200th show with a highlight reel of the best Apartment Building Investing podcasts from the past year. We look back at my interview with Rich Dad Advisor Ken McElroy as he shares how his thinking has evolved around financial freedom and what it means to be successful, and return to my conversation with Robert Helms of The Real Estate Guys around his mission to both educate and inspire action.

We revisit legendary entrepreneur and investor Robert Kiyosaki’s insight on spiritual discipline and bestselling author Hal Elrod’s take on the REAL purpose of setting goals. Listen in for marketing icon Kyle Wilson’s advice on building a platform and get inspired by billion-dollar investor and influencer Grant Cardon’s definition of true wealth.

Key Takeaways

What financial freedom means to Ken McElroy

  • Initial goal to be own boss, cover expenses
  • Scale business as expenses increase

How Ken McElroy’s definition of success changed over the years

  • From ‘job’ to ‘good job I really enjoy’
  • Shifted to focus on money, being millionaire
  • Now involves relationships with family + kids

What gets Ken McElroy out of bed in the morning

  • Sense of purpose
  • Desire to contribute

The Real Estate Guys’ mission

  • Put education to work via effective action
  • Create community + collapse time frames

The secret to Robert Helms’ success

  • Recognize economic reality beyond real estate
  • Understand other investing opportunities

How Robert Kiyosaki learned spiritual discipline

  • Marines focus on mission to bring fellow man home
  • Business world only mission to make money
  • Boundary of life + death gets in touch with God

Robert Kiyosaki’s take on the three kinds of money

  1. Gold + silver = God’s money
  2. Government money = fake
  3. People’s money (e.g.: Bitcoin)

Hal Elrod’s insight on the REAL purpose of setting goals

  • Develop qualities + characteristics of goal-achiever
  • Growth on journey more important than hitting target

Hal Elrod’s take on why traditional affirmations don’t work

  • Taught to lie to ourselves, use passive language
  • Affirmation must be paired with action

Kyle Wilsons’ insight on the principles of marketing

  • Provide great product, customer service
  • Be consistent + relational

Kyle Wilson’s must-haves for a website

  1. Mystique
  2. Taglines
  3. Social proof
  4. Creative opt-in

What gets Grant Cardone out of bed in the morning

  • Build legacy for family, church + community
  • Produce something of value = live forever

Grant Cardone’s definition of wealth

  • Money, time, love, health, fun and PURPOSE
  • Keep learning to contribute on another level

Resources

Enter to Win a Free Copy of Michael’s Book

Michael’s Ultimate Guide to Apartment Building Investing

Ken McElroy on ABI EP133

Robert Helms on ABI EP156

Robert Kiyosaki on ABI EP160

Hal Elrod on ABI EP165

Kyle Wilson on ABI EP184

Grant Cardone on ABI EP188

Warriors Heart

Jim Rohn

Zig Ziglar

Chris Widener

Ron White

Podcast Show Notes

Review the Podcast on iTunes

Michael’s Website

Michael on Facebook

Michael on Instagram

Michael on YouTube

Apartment Investor Network Facebook Group

Feb 10 2020

41mins

Play

MB 199: What’s Working Now to Get Deals Under Contract – With the Michael Blank Team

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With more buyers than product on the market, finding good real estate deals can be difficult—especially for newbies. But it’s not impossible. So, what can aspiring multifamily investors do to get a deal under contract?

Drew Whitson, Josh Sterling, Andrew Kuhn and Phil Capron are mentors for The Michael Blank Investor Incubator, Josh Thomas handles our mentoring program strategy calls, and Drew Kniffin and Garrett Lynch serve as President and Director of Acquisitions, respectively, at Nighthawk Equity, the investing arm of The Michael Blank organization. All seven are full-time multifamily investors themselves with a background in working with new real estate investors.

On this episode of Apartment Building Investing, I’m sharing the panel discussion we had last year at Deal Maker Live around what’s working now to get deals under contract. We discuss the greatest fears facing new multifamily investors and explain how we coach our mentoring students to get brokers to take them seriously. Listen in for insight on building your investor list to raise money for deals and learn how to leverage joint venturing to get into multifamily real estate.

Key Takeaways

The biggest fears facing new multifamily investors

  • Self-confidence (work on inner game first)
  • Won’t be able to raise money
  • Won’t be taken seriously

How to get brokers to take you seriously

  • Analyze deals on broker sites
  • Be specific re: your criteria
  • Send feedback within 48 hours
  • Travel to meet face-to-face

The hierarchy of quality in multifamily deals

  1. Direct off-market from seller (rare)
  2. Broker first look
  3. Broker’s website
  4. LoopNet

Our mentoring team’s advice on raising money

  • Build investor list around existing contacts
  • Have conversations BEFORE need capital
  • Give talk on multifamily at Meetups
  • Leverage partnering or joint venturing

Connect with Michael’s Mentoring Team

The Michael Blank Investor Incubator

Deal Maker Live

Resources

Syndicated Deal Analyzer

Nighthawk Equity

The Michael Blank Deal Desk

Anthony Metzger on ABI EP196

LoopNet

David Kamara on ABI EP182

Meetup

Podcast Show Notes

Review the Podcast on iTunes

Michael’s Website

Michael on Facebook

Michael on Instagram

Michael on YouTube

Apartment Investor Network Facebook Group

Feb 03 2020

27mins

Play

MB 198: The Calculated Courage to Do Your First Deal – With Craig Schumacher, MAI

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Is fear stopping you from doing your first multifamily real estate deal? If you’re not the type of person to simply jump ship from the relative safety (and health insurance) that comes with a W-2 job, but you know you can’t spend the rest of your life on the hamster wheel, then NOW is the time to activate what Craig Schumacher calls ‘calculated courage.’

Is fear stopping you from doing your first multifamily real estate deal? If you’re not the type of person to simply jump ship from the relative safety (and health insurance) that comes with a W-2 job, but you know you can’t spend the rest of your life on the hamster wheel, then NOW is the time to activate what Craig Schumacher, MAI, calls ‘calculated courage.’

Craig Schumacher, MAI, is the Managing Member at IRV Capital LLC, a real estate investment firm that focuses on multifamily and student apartments. Craig spent 25 years working as a commercial appraiser and valuation specialist. Four years ago, he decided to stop helping other people make a fortune in real estate and build a portfolio of his own. Craig closed on his first syndication deal in January, bringing him to a total of 89-units (with another 28 under contract).

On this episode of Apartment Building Investing, Craig joins me to explain how he recently quit his job as an appraiser to pursue multifamily investing full time. He describes the AHA moment that inspired him to take action in 2016 and walks us through the key lessons learned from his difficult first deal. Listen in to understand what Craig would tell his younger self about getting started in real estate investing and learn what he is doing now to scale his multifamily portfolio!

Key Takeaways

Craig’s transition from appraising real estate to investing

  • Biggest hurdle = solving health insurance issue
  • Took time to enact plan but never been happier

What inspired Craig to make a change

  • Shocking self-assessment at age 45
  • Not in position to put kids through college + retire

How Craig got started with real estate investing

  • Bought 5 condos + 2 duplexes (university housing)
  • Gain experience as landlord, bank relationships

Craig’s rocky transition to multifamily

  • Sold university rental portfolio to buy 28-unit
  • $20K out of pocket for foundation issues
  • Challenges around self-managing property

Craig’s key lessons learned from his first deal

  • Deeper level of due diligence re: leak disclaimer
  • Include nearby complexes in evaluation

Craig’s highly successful second multifamily deal

  • 29 units next to Illinois State University
  • Convert to student housing ($17K to $25K/month)
  • Cash-out refi to return 100% of investor cash

Why sellers and brokers took Craig seriously

  • Some credibility from SFH portfolio
  • Decades of experience as appraiser

What Craig would do differently in retrospect

  • Push past fear to take big shot sooner
  • Cultivate ‘calculated courage’

How Craig made time for multifamily

  • Dedicate every free moment to investing
  • 14-hour days for 4 years, supportive spouse

How Craig overcame his fears around raising capital

  • Start with friends, family and friends of friends
  • Gets easier every time as share enthusiasm

Craig’s plan for scaling his multifamily portfolio

  • Expand network via podcasts, conferences
  • Build platform by sharing content online

Craig’s advice for aspiring multifamily investors

  • Partner with experienced investor
  • Add action to make ideas real

Connect with Craig Schumacher, MAI

IRV Capital

Craig on LinkedIn

Resources

Rich Dad Poor Dad by Robert T. Kiyosaki

CoStar

Real Estate Guys Create Your Future Goal Setting Retreat

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

Join the Nighthawk Equity Investor Club

Michael’s Mentoring Program

Partner with Michael

Review the Podcast on iTunes

Michael’s Website

Michael on Facebook

Michael on Instagram

Michael on YouTube

Apartment Investor Network Facebook Group

Jan 23 2020

40mins

Play

MB 197: Joint Venture to Accelerate Your Multifamily Success – With Brian Briscoe

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Think you need to be a Lone Wolf on your first multifamily deal? Brian Briscoe was looking at 6- and 8-unit multifamily deals until he realized he could go bigger, faster if he had help. And he was right. Brian joined the Michael Blank network, and 11 months later, he had joint ventured on a 55-unit deal and had another 33 under contract! His team is looking to add another 500 units to their portfolio in 2020.

Today, Brian is the Director of Operations at Four Oaks Capital, a multifamily investment firm specializing in the acquisition, repositioning and rebranding of apartment buildings via a private equity fund structure. Since joining forces in June of 2019, his team of four has acquired 88 units and has another 80 under contract. Brian also serves as the Western Hemisphere Affairs Officer for the United States Marine Corps.

On this episode of Apartment Building Investing, Brian joins me to explain how he found his current partners through our network and discuss how they did three deals in 15 short months! He shares how Four Oaks Capital found its first deal and what they did to overcome a major hurdle (with help from an experienced mentor) just nine days before closing. Listen in for insight into how Brian and his partners have defined their individual roles in the company and learn how YOU can leverage joint venturing to accelerate your multifamily success.

Key Takeaways

What inspired Brian’s interest in multifamily

  • Read Keller’s book when deployed in Middle East
  • Started consuming multifamily podcasts + books
  • Became part of Michael Blank network

The timeline around Brian’s first three deals

  • 11 months to close on 55-unit
  • Closed on 33-unit last week
  • 80-unit under contract now

How Brian built credibility with brokers

  • Trip to South Carolina to meet face-to-face
  • Persistent follow-up (action + communication)

Four Oaks Capital’s first 55-unit deal in Spartanburg, SC

  • Two properties in good condition but dated
  • Downtown units well below market rent

The snag Brian’s team faced in closing their first deal

  • Rates on loans went from 3.9% to 5.1% (lost $600K in proceeds)
  • Bump equity from 75% to 90% to compensate investors

The role mentors played in Brian’s first deal

  • Guidance prior to putting in offer
  • Offered idea to move needle on investor returns

Four Oak’s Capital’s second deal

  • Result of follow-up with broker met on trip to SC
  • 33-unit diamond in the rough at unbeatable price
  • Plan to double value via $400K in renovations

Brian’s insight around The Law of the First Deal

  • Brokers call with off-market deals
  • Three deals in 15 months

How Brian’s partners defined their individual roles

  • Acquisitions, asset management and raise money
  • Fluid based on current needs

Four Oaks Capital’s plans to scale

  • Constrained by how much money can raise
  • Build platform (YouTube, social and podcast)
  • Attend and start own Meetups

What facilitated Brian’s mindset shift

  • Conversations with investors in network
  • Finite amount of time to replace income

Brian’s advice for aspiring multifamily investors

  • Learn game + get really good at it
  • Take action and don’t stop
  • Find people to support you

Connect with Brian Briscoe

Four Oaks Capital

Email brianbriscoe@fouroakscapital.com

Resources

Deal Maker Mastermind

Rich Dad Poor Dad by Robert T. Kiyosaki

The Millionaire Real Estate Investor by Gary Keller, Dave Jenks and Jay Papasan

Joe Fairless Podcast

Rod Khleif Podcast

Deal Maker Live

Michael’s Mentoring Program

Michael’s Platform Building Webinar

Join the Nighthawk Equity Investor Club

Podcast Show Notes

Review the Podcast on iTunes

Michael’s Website

Michael on Facebook

Michael on Instagram

Michael on YouTube

Apartment Investor Network Facebook Group

Jan 17 2020

50mins

Play

MB 196: How to Align with a Sponsor to Do Your First Multifamily Deal – With Anthony Metzger

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So, you don’t have real estate investing experience. And you don’t have any money of your own to invest. What if I told you that in two short years, you could be closing on your first deal of 200-plus units? That you could be fielding calls from brokers at Marcus & Millichap? That you could be building your own multifamily brand?

Anthony Metzger spent 10 years in the wine industry, working as a sommelier and winemaker in the US and Europe before setting his sights on multifamily real estate. After his brother introduced him to The Ultimate Guide to Apartment Building Investing at the end of 2017, Anthony got busy underwriting deals and reaching out to brokers. Two short years later (in a joint venture with Nighthawk Equity), Anthony has closed on his first deal, a 218-unit multifamily property in Little Rock, Arkansas.

On this episode of Apartment Building Investing, Anthony joins me to share what inspired his interest in multifamily and walk us through the experience of doing his first deal. He explains how learning the language of real estate gave him credibility with brokers and how consistent practice analyzing deals and talking to brokers built his confidence. Listen in to understand how the Nighthawk Equity team supported Anthony in the buyer’s interview and learn how to align yourself with a lead sponsor to do YOUR first multifamily deal.

Key Takeaways

What inspired Anthony’s interest in multifamily

  • Listening to Grant Cardone and Robert Kiyosaki
  • Always been entrepreneur, hungry for project

Anthony’s initial real estate goal

  • Partner with Nighthawk Equity to do first deal
  • Didn’t want to raise money until experienced

How things changed for Anthony once his first deal closed

  • Taking calls from Marcus & Millichap
  • Brokers approach with off-market deals

How Anthony got brokers to take him seriously

  • Learned language of investing from Ultimate Guide
  • Genuine in building relationships with brokers

Anthony’s advice on demonstrating confidence with brokers

  • Prepare with script based on underwriting
  • Practice on ‘throw away market’

Anthony’s interaction with the broker on his first deal

  • Several calls to discuss deal + ask questions
  • Spitball ballpark number, asked to draft LOI

The ideal time to bring on a joint venture partner

  • After verbal agreement but before signed LOI
  • Support in buyer’s interview, include JV terms

What to expect from a buyer’s interview

  • Seller talks to everyone who made offers
  • Choose person most likely to close deal

Anthony’s approach to aligning with a lead sponsor

  • Build relationship at events, bring deals
  • Respect time by adding value (inside track)

What’s next for Anthony

  • Do second deal
  • Build own multifamily brand

Anthony’s advice for aspiring multifamily investors

  • Learn to underwrite + practice making offers
  • Network to build relationship with sponsor

Connect with Anthony Metzger

Email anthony.metzger@yahoo.com

Resources

Michael’s Free First Deal Training

Anthony’s Wine Documentary: The Pink Grape

Grant Cardone

Robert Kiyosaki

Michael’s Ultimate Guide to Apartment Building Investing

Michael’s Syndicated Deal Analyzer

Michael’s Deal Desk

Nighthawk Equity

Michael’s Deal Maker Mastermind

Deal Maker Live

Michael’s Mentoring Program

Podcast Show Notes

Review the Podcast on iTunes

Michael’s Website

Michael on Facebook

Michael on Instagram

Michael on YouTube

Apartment Investor Network Facebook Group

Jan 10 2020

49mins

Play

MB 195: Retire WAY Early Via Passive Investing in Multifamily – With Travis Watts

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Most of us dream of retirement because we’ll FINALLY have the time freedom to do things that interest us and spend time with the people we love. But what if you didn’t have to wait until you turned 65 to live that dream? What if you could retire early? Better yet, what if you could retire in the next few years? Passive investing in multifamily syndications helped Travis Watts do just that, and you could be next!

Travis is an experienced passive investor and Director of Investor Relations at Ashcroft Capital, a national multifamily investment firm with more than $820M in assets under management. Prior to pursuing real estate full-time, Travis worked a grueling job in the oil industry, spending 14-hour days outside in extreme weather while saving money to invest in single-family rentals and apartment building syndications.

On this episode of Apartment Building Investing, Travis joins me to discuss the time freedom he enjoys now as a passive investor in multifamily real estate. He explains how he saved the money to invest via extreme budgeting and what made SFH investing unsustainable. Listen in for Travis’ insight around where to find a good syndication team and learn how YOU can follow in his footsteps and quit your W-2 with passive investing!

Key Takeaways

Travis’ path to full-time passive investing

  • Demanding job in oil industry
  • Laid off in oil downturn but already financially independent

How Travis’ life is different now

  • Unhappy as W-2 employee, everyday struggle
  • Now pursues things interested in (personal growth)

How Travis saved money to invest

  • Brought up with conservative parents, extreme budgeters
  • Didn’t change lifestyle as income grew from $20K to six figures

How Travis invested his money before multifamily

  • Pulled money from stock market after Rich Dad’s Prophecy
  • House hacking strategy (first-time home buyer tax credit)
  • Sought high-paying job to continue buying SFH
  • Buy-and-hold, fix-and-flip as well as vacation rentals

What inspired Travis’ transition to multifamily

  • SFH strategies had become job on top of W-2
  • Single-family not scalable, sustainable or passive

The FIRE movement 4% rule

  • Passive income goal x 25 = amount to invest
  • EX: 30K x 25 = $750K investment

What kind of income you can generate as a passive investor

  • 7% to 10% cashflow
  • Equity upside upon sale or refinance

Travis’ insight on the tax benefits of multifamily

  • Use bonus depreciation for tax-free distributions
  • Capital gains upon sale (usually offset by gains)

The beauty of the infinite return model

  • Refinance after 5 years to return most of capital
  • Continue to earn returns, no money in deal

Travis’ top investing AHA moments

Travis’ advice for aspiring passive investors

  1. Start with WHY
  2. Create a budget (know where money going)

How to vet a syndication team

  • Ensure strategy aligns with personal philosophy
  • Track record, markets you believe in

Where to find a good syndication team

  • Go to seminars and local meetups for networking
  • Start with world-of-mouth referral, follow up with due diligence

Connect with Travis Watts

Ashcroft Capital

Email travis@ashcroftcapital.com

Travis on LinkedIn

Travis on Facebook

Resources

Spencer Hilligoss on ABI EP186

Jan Larson on ABI EP181

Ryan McKenna on ABI EP174

Rich Dad’s Prophecy: Why the Biggest Stock Market Crash in History Is Still Coming … And How You Can Prepare Yourself and Profit from It! by Robert T. Kiyosaki

The FIRE Movement

Tax-Free Wealth: How to Build Massive Wealth by Permanently Lowering Your Taxes by Tom Wheelwright

Work with Tom Wheelwright

Join the Nighthawk Equity Investor Club

Podcast Show Notes

Review the Podcast on iTunes

Michael’s Website

Michael on Facebook

Michael on Instagram

Michael on YouTube

Apartment Investor Network Facebook Group

Jan 06 2020

40mins

Play

MB 194: How to Crush It in 2020: 6 Steps to Setting Goals You WILL Achieve

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It’s that time of year again. Time to set goals for the year ahead and start working toward your dream of financial freedom. But what’s the best way to set goals and commit to following through? How do you avoid overwhelm and keep going no matter what?

On this episode of Apartment Building Investing, I am sharing my top 6 tips for setting goals you CAN and WILL achieve in 2020. I explain why it’s crucial to find your WHY and state your goals clearly—over multiple time frames.

I go on to reveal my secret to avoiding overwhelm, describing the value of consistency in working toward financial freedom. Listen in for advice around leveraging practice to develop confidence and learn to commit to doing your first multifamily deal, no matter how long it takes!

Key Takeaways

Tip #1—Develop your WHY

  • Affords clarity, moment of decision
  • Less about you = more powerful

Tip #2—State your goals clearly over multiple time frames

  • Create yearly, 90-day, monthly, weekly and daily goals
  • Short-term goals align with big targets (e.g.: analyze 20 deals)

Tip #3—Always do the next 3 things

  • Best way to avoid overwhelm, keep moving forward
  • Consistent with progress (i.e.: finish book, choose property manager)

Tip #4—Focus on the activity, NOT the outcome

  • Analyze every deal and talk to everyone early on
  • Knowledge + practice = CONFIDENCE

Tip #5—Be consistent

  • Support network to keep on track (peers + expert)
  • Recognize and celebrate milestones

Tip #6—Commit to the outcome, not a timeline

  • Set deadlines for short-term goals under your control
  • Keep going no matter how long it takes, no other option

Resources

Tony Robbins

Grant Cardone on the Lewis Howes Podcast

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

Deal Maker Live

Syndicated Deal Analyzer

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

The ONE Thing: The Surprisingly Simple Truth Behind Extraordinary Results by Gary Keller

Michael’s Mentorship Program

Podcast Show Notes

Review the Podcast on iTunes

Michael’s Website

Michael on Facebook

Michael on Instagram

Michael on YouTube

Apartment Investor Network Facebook Group

Dec 27 2019

25mins

Play

MB 193: World-Class Property Management for Multifamily – With Tony LeBlanc

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Should you self-manage your multifamily portfolio? Or is it better to outsource to a third-party? If you do choose to outsource, what should you look for in a property management team?

Tony LeBlanc is the author of The Doorpreneur: Property Management Beyond the Rent Roll, a book that redefines the potential of property management businesses. Tony grew up inside the industry, watching his mother manage the building where he was raised. Ten years ago, he started his own property management company, and today, it is one of the largest on Canada’s East Coast and supports seven subsidiary businesses from landscaping to commercial cleaning to a real estate brokerage.

On this episode of Apartment Building Investing, Tony joins me to explain how he developed The Doorpreneur Way and what it meant for his property management company in terms of productivity and profit. He offers insight around how to hire a third-party property manager, what the ideal investor-property manager relationship looks like, and why it can be difficult to manage to a pro forma. Listen in for Tony’s innovative ideas for driving additional revenue and learn when it makes sense to self-manage your portfolio and when to outsource the job.

Key Takeaways

Tony’s extensive experience in property management

  • Mom was resident manager, VP of management company
  • Started own company 10 years ago (3 locations, 2K doors)

What inspired Tony to write The Doorpreneur Way

  • Building out other companies created new level of respect
  • Help others make business more productive + profitable

Tony’s advice on hiring a third-party property manager

  • Investors need hands-on experience to develop empathy
  • Learn enough to ‘manage the managers’

The ideal relationship between property managers and investors

  • Get to know each other up front
  • Engage minimum of once a month to review financials

Tony’s approach to working with sophisticated investors

  • Weekly call to discuss vacancies, major maintenance issues
  • Monthly financial call to review budget vs. actuals

What makes it difficult for property managers to stay on budget

  • Lack systems + processes for managing to pro forma
  • Pressure to please tenants, don’t look at expenses
  • Failure to include staff in financial discussions

Tony’s Doorpreneur Model

  1. Determine where subbing out most work
  2. Market research in new area
  3. Cut teeth on own properties
  4. Open door to general public

Tony’s best practices for property managers

  • Proactive communication with investors
  • Proper accounting + due diligence
  • Educate owners on new trends, tech

Innovative ways to increase revenue and reduce expenses

  • Transition from coin machine to card-based laundry
  • Offer internet service for units
  • Smart apartment technology

Tony’s insight around personal development practices

  • Develop self-awareness with meditation, journaling
  • Self-reflection allows us to better serve others

Connect with Tony LeBlanc

Doorpreneur

Doorpreneur on Facebook

Doorpreneur on Instagram

Resources

The Doorpreneur: Property Management Beyond the Rent Roll by Tony LeBlanc

Save Water Co

The Leader Who Had No Title by Robin Sharma

Podcast Show Notes

Review the Podcast on iTunes

Michael’s Website

Michael on Facebook

Michael on Instagram

Michael on YouTube

Apartment Investor Network Facebook Group

Sponsor

The Investor Incubator Mentorship Program

Dec 23 2019

48mins

Play

MB 192: Crush Limiting Beliefs & Be a Multifamily Syndicator – With Sterling White

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Are limiting beliefs stopping you from becoming a multifamily investor? When Sterling White got his start in real estate, he was crashing in a friend’s den. He had no money in the bank and zero credit. But Sterling DID have a willingness to learn, and he understood that the best way to approach a potential mentor was to provide value.

Today, Sterling is a seasoned real estate investor and philanthropist based in Indianapolis. He got his start in 2009, building a portfolio of 150 SFH before transitioning to multifamily in 2017. To date, Sterling owns a total of 587 single- and multifamily units, and he is a frequent contributor to BiggerPockets. He also serves as the host of The Real Estate Experience podcast and author of From Zero to 400 Units: How I Found Another Path & Discovered Freedom Through Real Estate.

On this episode of Apartment Building Investing, Sterling joins me to explain how he got his start in real estate, working for a mentor (for free!) to find SFH buy-and-hold deals. He discusses his transition to multifamily, sharing his bold approach to finding off-market deals and the resources he uses to get in touch with property owners. Listen in for Sterling’s insight on providing value to attract investors and learn how to overcome the limiting beliefs that are keeping you from achieving financial freedom with multifamily investing!

Key Takeaways

Sterling’s journey to real estate investing

  • Grew up in Section 8 housing with single mom
  • Natural entrepreneur, figure things out on own
  • Work for free with mentor to build SFH portfolio
  • Shift to multifamily in 2017 (587 units total)

How Sterling developed an interest in real estate

  • Work construction for college roommate’s dad
  • Liked seeing transformation of distressed asset
  • Learned that most successful owned portfolio

How Sterling provided value to his mentor early on

  • Hustle to find SFH deals
  • Assist with digital marketing

Sterling’s first SFH investing deal

  • $25K property + $25K in renovations (financed by mentor)
  • Responsible for everything else associated with transaction

What inspired Sterling’s transition to multifamily

  • Economies of scale (multiple doors at one location)
  • Ability to control own destiny, influence value

Sterling’s first multifamily investing deal

  • 46-unit seller financing deal ($200K down on $900K)
  • Brought on SFH investors to raise $ for renovations

How Sterling hustles to find new deals

  • Approach owner directly, pitch on cold call
  • Strategic follow up (e.g.: birthday card)

Sterling’s resources for finding owner contact info

Sterling’s advice on marketing to attract investors

The evolution of how Sterling raises money for deals

  • Friends and family through fund for SFH
  • Preferred return to start with multifamily
  • Now straight equity (85% to LPs, 15% to GPs)

The limiting beliefs that hold aspiring investors back

  • Need large amount of own capital
  • Fear of failure OR success

Sterling’s insight on the value of time

  • Pay someone to do low-value activities
  • Willing to spend extra to save time

Connect with Sterling White

Sterling on BiggerPockets

Resources

Earl Nightingale

Rich Dad Poor Dad by Robert T. Kiyosaki

LoopNet

CoStar

Reonomy

ListSource

BeenVerified

TruePeopleSearch

LexisNexis

Fiverr

Upwork

BiggerPockets

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

Grant Cardone on Lewis Howes’ Podcast

Michael’s Free Webinar: How to Do Your First Apartment Deal (Without Experience or Using Your Own Money)

Michael’s Mentorship Program

Podcast Show Notes

Review the Podcast on iTunes

Michael’s Website

Michael on Facebook

Michael on Instagram

Michael on YouTube

Apartment Investor Network Facebook Group

Dec 16 2019

41mins

Play

MB 191: Raising Millions for Multifamily Deals—In Minutes! – With Josh Cantwell

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If you want to raise money, I mean REALLY raise money, you need a thought leadership platform. Yes, at the beginning of your career, you will onboard passive investors one at a time. But once you’ve exhausted your network and you’re ready to scale, you’ll need to leverage online marketing techniques to expand your investor base and raise millions for multifamily deals—on a very short timeline.

Josh Cantwell is the CEO of Strategic Real Estate Coach, a program dedicated to giving real estate investors and agents the most advanced training in the business. Josh is the top real estate investor in his community, buying and selling more than 600 properties since 2003, and he regularly partners with other investors to close deals all over the US. He is also the author of The Flip System: Your Real Estate Investing Playbook to Create Financial Freedom and Peace of Mind and the CEO of Freeland Ventures Private Equity and Direct Real Estate Lending, helping investors get funding both residential and multifamily deals.

On this episode of Apartment Building Investing, Josh joins me to explain how his experience with pancreatic cancer changed his personal and professional life, sharing the strategies he uses to be more purposeful with his time and put his family first. He discusses why he chose capital raising for multifamily over syndicating deals and describes his process for raising millions of dollars—in just a few hours. Listen in for Josh’s advice to aspiring capital raisers and learn his four steps to building an online platform that attracts multifamily investors.

Key Takeaways

How Josh’s bout with pancreatic cancer changed his life

  • Focus on being family man first
  • Invest in things that pay in perpetuity

The strategies Josh uses to be purposeful about his time

  • Mornings for strategic thinking
  • Activities that give energy in afternoon (e.g.: investor calls)

Josh’s multiple business ventures

  • Private + hard money lender for residential real estate
  • Raise capital for multifamily via crowdfunding platform
  • Joint venture to raise capital for multifamily

The limiting beliefs that kept Josh away from multifamily

  • Not educated, smart enough
  • Surgery forced out of comfort zone

Why Josh chose raising capital over syndicating deals

  • Background in raising money (funding = freedom)
  • Joint venture with experienced investors

How Josh raises millions of dollars for multifamily in hours

  • Share potential deals in discovery interviews
  • Create scarcity in webinar (e.g.: 400 invites, 12 spots)

Josh’s tips for creating an online platform to raise capital

  1. Start with an irresistible offer
  2. Identify your investor avatar
  3. Be strategic about networking
  4. Reach out with regular content

Josh’s advice for aspiring capital raisers

  • Put yourself in second position
  • Raising money not a ‘forever business’
  • Stay in front of potential investors
  • Educate without asking for money
  • People will test with small investments

Connect with Josh Cantwell

Strategic Real Estate Coach

The Flip System by Josh Cantwell

Josh on Facebook

Resources

Michael’s Free Masterclass

Dr. Oz’s ‘The Power of a Nap’

Jack Petrick on ABI EP123

National Real Estate Investors Association

Michael’s Platform Page

Michael’s Free eBook

Nighthawk Equity

Podcast Show Notes

Review the Podcast on iTunes

Michael’s Website

Michael on Facebook

Michael on Instagram

Michael on YouTube

Apartment Investor Network Facebook Group

Dec 04 2019

55mins

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