Show Notes
In this episode, I sit down with Lee Fjord to talk about how he built an $80 million real estate portfolio and how he is raising capital locally through in-person events. Lee started in property management, moved into brokerage, bought small deals first, and eventually grew into larger multifamily deals by building relationships and using partnerships the right way.
We also talk about why online capital raising has become harder and why local events are working better for many sponsors right now. Lee breaks down his “Tours and Pours” model, how he brings investors into the room, how he follows up, and how those relationships helped him raise $1.9 million for a recent deal. This is a practical conversation about building trust, creating a local network, and turning relationships into real capital.
If you are trying to close your first deal or raise more money for your next one, this episode gives you a clear playbook.
Key Takeaways
Your first deals give you experience
Lee started with a duplex before moving into larger multifamily deals.
Smaller deals helped him understand ownership, operations, and risk.
He believes new investors should get some reps before raising outside capital.
Early deals help you learn what you are good at and where you need help.
Partnerships can help you scale faster
Lee used partnerships to move from smaller properties into larger deals.
His partner brought capital and balance sheet strength.
Lee brought property management, operations, and deal experience.
The best partnerships work when each person brings a different strength.
Testing a partnership on a smaller deal first can prevent bigger problems later.
Online capital raising is not working like it used to
Paid ads, webinars, and funnels have become more expensive and less effective.
Investor attention online is lower than it was a few years ago.
Some sponsors are spending heavily on ads and raising little or no capital.
In-person events are becoming more valuable because they create real trust.
People are more likely to invest when they know you beyond a screen.
Local events create a capital-raising flywheel
Lee hosts monthly property tours followed by casual networking at a local brewery.
Each event gives people a reason to keep showing up and bringing others.
He interviews property owners so attendees can learn from people doing real deals.
The format feels educational instead of sales-heavy.
Follow-up turns events into relationships
Lee uses RSVPs, surveys, and email follow-up to track who attends each event.
He asks whether attendees are accredited and whether they are interested in passive investing.
Strong prospects get personal outreach instead of only automated emails.
Repeat attendance builds trust over time.
The process creates a clear path from first meeting to investor conversation.
Smaller private investor dinners may be the next step
Lee is also testing invite-only dinners for accredited investors.
The goal is to create better conversations.
High-net-worth investors often do not have a place to talk about private investments.
Being the person who brings that room together can build a lot of credibility.