What if you could run a successful multifamily syndication business with other people’s money? And what if you could do it with no prior experience and achieve financial freedom in one to three years?
Here at the Michael Blank organization, we’ve helped 130-plus new investors do their first deal, using a step-by-step process we call the Deal Maker Blueprint.
On this solo episode of Apartment Building Investing, I walk you through the 8-step system to achieve financial freedom with multifamily syndications, explaining why it’s crucial to map your vision and connect with a network of likeminded peers early in your journey.
I describe how to get the skill set you need to speak to brokers and investors (in just 30 days!) and then work the system, analyzing deals and building your pipeline until you close your first deal. Listen in for insight on scaling a syndication business and learn how financial freedom leads to a life of significance!
How I respond to the common objections re: multifamily
- You don’t need real estate experience
- You don’t need any of your own money
- Just focus on getting your first deal
The Deal Maker Blueprint Step #1—Map Your Vision
- Calculate your freedom number
- Develop AM routine (affirmations, visualization)
The Deal Maker Blueprint Step #2—Get Connected
- Join support network, e.g.: mastermind
- Recruit advisor to hold you accountable
The Deal Maker Blueprint Step #3—Get the Skills
- Clarify size and location of first deal
- Analyze 5 deals and create sample deal package
- Recruit lender and property manager to team
The Deal Maker Blueprint Step #4—Work the System
- Analyze deals
- Talk to potential investors
The Deal Maker Blueprint Step #5—Build Your Pipeline
- Stay committed to activity vs. outcome
- Stick with it as long as it takes
The Deal Maker Blueprint Step #6—Close the Deal
- Submit LOI and negotiate offer
- Due diligence, secure financing and raise money
The Deal Maker Blueprint Step #7—Grow and Scale
- Law of First Deal attracts more deals, investors
- Build platform to market syndication business
The Deal Maker Blueprint Step #8—Make a Difference
- Financial freedom unlocks your true purpose
- Life of significance = help other people