How To Raise Money For Multifamily Property Investing
If you're raising money for multifamily investing, download ALL my resources for FREE at this link: https://themichaelblank.com/vault
Are you ready to get started investing in multifamily real estate?
Passive investing is a great way to go. You have the opportunity to invest in different markets and asset classes, and the ability to spread your equity across multiple projects, which diversifies your risk.
Your role as a passive investor is to contribute funds to the investment – usually, one that’s being offered by a syndication.
It’s honestly one of the most efficient ways to build wealth over time. Because you're not responsible for the day-to-day maintenance of the property, It takes very little work, is scalable, and diversifies your portfolio into one of the safest asset classes – multifamily real estate!
But if you're going to invest money, you're going to need to raise money. How do you do that?
A mindset adjustment might be more important than you realize.
4 Easy Steps on the Road to Raising Money
When it comes to raising money, you might go with a loan or credit or a mortgage, but no matter how you plan to raise money, you need to operate from the right frame of mind.
1. Know Your Mission
The first step is to get crystal clear about what you want.
What is your goal? Why are you investing in multifamily? What are you hoping to achieve? Why are you seeking to build wealth?
Perhaps you're seeking additional income that would allow you to retire early, or work on a passion project. Maybe you're building wealth for your family.
Getting clear about your goals will help you calculate your risk and set up a budget.
Knowing why you're raising money will guide you as you're making decisions. If mindset is the key, your WHY is the engine.
And once you're clear on your mission, you can start sharing it with other people.
2. Network
The second step to consider is your network. After all, one of the advantages of multifamily investing is that you don’t do it alone.
When you have your budget in place and you're clear about why you want to invest in multifamily, you can find others who are on a similar path.
Find meet-up groups. Brainstorm with other investors and network yourself into their support. You may find resources and ideas that you never would have come up with on your own. And don't forget about online networking. Even when in-person events aren't available to you, you can network with like-minded people and communities.
Networking with other investors who share your goals will keep you energized and focused.
3. Get Educated and Educate
In addition, networking will help you grow your own personal knowledge base, and knowledge is key. The more you know, the better equipped you are to move forward.
Get to know your investment. When you're raising money, know what your money is going toward.
The more educated you are about your investment, the better you will be able to share the opportunity with others. The more you know about your investment, the more you will believe in what you're doing and increase your chances of getting your friends, family and wider network to believe in what you're doing as well, and provide the support you need.
Educate yourself so that you can educate others and together, you will reach your desired outcome.
4. Be Consistent
The fourth thing to remember about raising money is that small actions every day get you to your goal.
Nothing is unsurmountable if you break it down into bite-sized pieces, and consistency is key. Show up every day with your goal in mind and take action, and your effort will not be wasted. Every small action adds up and builds toward your future success.
Raising money for real estate investing may seem daunting, but the right mindset coupled with clarity about your mission will help you build your network.
And before you know it, you'll be moving forward one step at a time, raising money and achieving your investment goals.
