Seventeen years ago I was shown a vision….
Time and Money
My first mentor showed me that real estate could provide a lifestyle, people only dream of. That’s when I asked myself could I possible have this life?
Today, I’m living it. I have called it the CashFlow LIfe and it’s AWESOME. In the beginning I thought you had to be rich to buy huge assets, but I was way wrong. What I found is that you have to get good at raising (OPM) Other Peoples Money!
Let me explain:
What you need to understad: “The Money is in The MONEY.”
I realize this more now that I ever have before. When you get good at raising private capital and learn the right Apartments to buy-hold-and Operate. It’s a true game changer. You have to (learn to raise OPM)
Let’s talk about…
1. The Power of Positivity
A good cash flowing Apartment is a great thing, but it starts with power thinking. In order to raise private money you first have to believe you can. For me in the beginning this seemed impossible. How does a guy like me raise money?
Your probably saying the same thing.
The Powers That Be start to wonder…
- Am I important enough for people to give me money?
- How do I find people with extra cash?
- How do I even talk about money with everyday people?
What i’ve found is that you have to tell yourself daily that you are worth it and that people want to seek you out because you know how to make money grow. In other word:
Tell yourself you CAN!
Always have goals. Write them down and look at them everyday. For rasing private money is more a mental game for yourself in the beginning.
Learn How to RAISE OPM: By CLICKING HERE to get my (QuickStart WorkShop Video Series)
2. OPM (Other People’s Money)
To start raising money…
Put yourself in leadership positions wherever you’re at. Whatever it is, in real estate, teach what you know. The more you teach, the better you’re going to get at what you’re doing anyway, and it is also going to put you in places of authority.
It HELPS when you’re in places of authority.
Raising private money is always done one on one. You can talk about the message in a group session, but when you’re going to ask to get with people and talk about it, it’s going to happen when one on one.
During this conversation, you always have to bring in 2 important things:
- Your Credibility Kit for multi-family
- Private money program for single families.
Either you bring it with you in your mind, or you bring it with you in a real form.
Your credibility kit just talks about what you’ve done and who you are. If you’ve not started or anything like that, then you better borrow somebody else’s credibility kit.
Partner with somebody, you can always find someone that will help you bring credibility to the game. The other thing is you’re going to have private money program.
For a single-family, a private money lending program is really key.
The key is raising capital is to think like an investor. Learn how to mitigate risks. People always want solid investments, but not everyone is familiar with real estate. You have to take time and explain the in and outs and YES,
The RISKS…
Take your time spelling out what could possible go wrong. People want to hear this.
3. Provide income problem solutions
The great thing about what apartments do is they provide a source of income.
Unfortuanely…
Most of the properties we see suffer from two things.
- Bad Management
- Deferred Maintenance
But that is exactly what we are looking for.
We specialize in buying old properties, and turning them to a profitable income. The reason we buy on cash flow, is we know when we fix these two things, it’s going to produce cash-flow.
4. Multi-Family vs. Single Family
Multi-family investments are typically a longer time commitment for investors.
The beauty is when It’s set up right it pay your investors consistantly,
It’s what most DREAM about…
And most investors are willing to take a little bit less for consistency, especially over a long period of time.
Single family is based on each and every deal. It’s a lot of work. Most people just want to set it and forget or at least not be hassled by it. Every time to close on a property to you to give your investors money back. And then when you have a new deal, we have to do all the paperwork again and they have to send the money. This is a lot of back and forth.
Most investors really want to set it and forget it!
Raising Private Money is the best way to grow your wealth. It’s not done overnight and it certainly takes time, but it well worth it in the end.
If you’ve not done so, don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. I know the message is going out. Share it with others, go out there and tell the world about what you discovered. Let’s make complicated things simplier!
