Here’s Why To Focus Like a Laser On Your First Deal
I want to talk to you today about the importance of focusing on doing your first deal.
You may have ultimate end-goals like quitting your job, working for yourself, securing your retirement or leaving a legacy for your children. In order to accomplish those goals with apartment buildings, you might determine that you need to own 100 units (or whatever the number).
Those are good and worthwhile goals, and they’re important. But if you’re just starting out on your journey, then you need an interim goal, something you can focus on, something you think you can achieve and something that opens the door to bigger things.
The one interim goal I’m talking about is to focus on your first deal.
MB 117: Pushing Your Limits to Strike Multifamily Gold – With Anna Simpson
Anna Simpson’s philosophy is you don’t make money in your comfort zone! She joins me to describe how she pushes limits to reach the next goal, learning from experience as a passive multifamily investor to become a syndicator, raising $1.4M for her first 70-unit deal—and landing a 76-unit property just two months later!
MB 116: Reawakening, Reinvention & Opportunities in Commercial Real Estate – With Alan Schnur
Alan Schnur was away on a business trip during 9/11. He lost 40 of his 44 team members that day, but he gained the drive for continuous growth and think-big mindset that informs his real estate career. Alan joins me to share his incredible journey from single family rehabs to multifamily syndication to retail acquisitions.
MB 115: Enlisting an SEC Attorney to Protect Yourself & Ensure Compliance – With Mauricio Rauld
If you are new to the idea of raising money to invest in apartment buildings, the particulars of complying with SEC regulations may have you spooked. Mauricio Rauld joins me to explain his role as a syndication lawyer and walk us through the process of working with an attorney to ensure compliance with securities law!
MB 114: The Ten Commandments of Negotation – With Stefan Aarnio
Every human interaction is a negotiation. Stefan Aarnio joins me to walk us through his ten commandments of negotiation, from the importance of gathering information before you make an offer to establishing clear goals going into a real estate negotiation. Learn to make people work for concessions, get what you want—and get out!
MB 113: From Auto Mechanic to Self-Made Millionaire Through Multifamily – With Peter Conti
Courage is about feeling the fear but ‘saddling up anyway.’ Peter Conti joins me to explain how he was motivated to action despite his fear—and make the transition from auto mechanic to self-made millionaire in just over three years, using creative financing to invest in multifamily real estate!
MB 112: Scaling Up from a Duplex to 2,700 Multifamily Units – With Ivan Barratt
The journey to 10K units starts with a single step! Ivan Barratt joins me to explain how he went from a duplex to 2,700 units and $100M in assets under management. Listen in for the game changers that helped Ivan scale and learn how ‘the little things’ can prepare you for a career in multifamily.
MB 111: AirBnB for Apartments with Tim Hubbard
How did Tim Hubbard make a rundown 8-unit multifamily property in Memphis Airbnb-ready—and start earning $2,500 PER UNIT in revenue each month? Listen in as Tim explains how he manages the property remotely while he travels the world and learn what factors to consider in choosing real estate for short-term rental!
MB 110: Conservative Underwriting & Risk-Management in Multifamily Investing – With Omar Khan
Conservative underwriting is the key to a safe multifamily investment. But how can you tell if the numbers are too aggressive? Omar Khan joins me to explain what to watch out for in terms of revenue growth, reserves, loan terms and exit strategy. Listen in for insight on leveraging a sensitivity analysis to mitigate risk.
MB 109: Leveraging the Law of the First Deal to Quit Your Job with Multifamily – with Michael Blank
Once you truly DECIDE to pursue multifamily, it takes 3 to 5 years to replace your income—and the process is set in motion via the Law of the First Deal. Today, I’m unpacking the phenomenon, helping you develop a concrete plan for quitting your job with apartment building investing!