Business Boost with Michael Blank: How to Get Back on Track When Your Multifamily Journey Stalls – With Sudhir Jarajapu
Sudhir Jarajapu took the first steps on his multifamily investing journey and invested in our mentoring program. But then he got off track. In fact, it took Sudhir nine months to work through the first 90 days of the program! So, what got in the way? And what did Sudhir do to get back in the game? Welcome to the first of our Business Boost with Michael Blank series on Financial Freedom with Real Estate Investing, where I do a live coaching session with a new syndicator! On this episode of the podcast, Sudhir explains what inspired his interest in multifamily investing and why he chose to pursue mentoring with the Michael Blank organization. Sudhir describes how he struggled to make time for the mentoring program at first and shares how both his mentor and his family eventually held him accountable to take action. Listen in as I ask Sudhir what he needs support with right now, and we design an action plan to help him achieve financial freedom with real estate!
Key Takeaways
Michael’s 5 stages of transformation- Indecision
- Commitment
- Learning
- Practice
- Consistency
- Single family not enough to replace W-2 income
- Doubled money in 5 years as LP in syndication
- Curious about potential for getting into GP side
- Resonates with way Michael explains things
- Wants support to accelerate process
- Wasn’t dedicating time to work through steps
- Full-time job and life get in way
- Mentor and family held him accountable
- Up at 4:30 and time box 90 minutes
- Raising capital for 2 deals
- Recruit wife to help with deal analysis
- Finding right partners
- More deals to analyze in inbox
- Identify active brokers in market on LoopNet
- Build relationships with brokers
- Go to local Meetups, real estate conferences
- Leverage Michael’s network
- Same vision, complementary skills
- Someone who specializes in raising capital
- Mindset of patience and no expectations
- Committed to activity for as long as it takes