Financial Freedom with Real Estate Investing MB296: Getting Brokers to Take You Seriously – With Savannah Arroyo
How do you get brokers to take you seriously if you’re brand new to multifamily? Savannah Arroyo and her husband Lupe talked to 50 brokers before they found one who was willing to work with them. But that relationship led to three deals in nine months, allowing Savannah to quit her full-time job as an RN!
Savannah is the Founder of Networth Nurse, a platform designed to help healthcare professionals stop living paycheck to paycheck. Through the Networth Nurse blog and YouTube channel, she educates and empowers her colleagues around personal finance and multifamily investing. Savannah and her husband Lupe leveraged the Michael Blank Mentoring Program to accelerate their success, partnering with other students in our network to close three syndications and replace her income as a nurse in under a year.
On this episode of Financial Freedom with Real Estate Investing, Savannah joins cohost Garrett Lynch and me to explain how she got that first broker to take her seriously. She describes how she and Lupe created a five-year game plan for their real estate business and then put in the reps, taking daily action to realize that vision. Listen in to understand the benefits of investing in your multifamily education and learn how Savannah is scaling her portfolio through partnerships and the Networth Nurse platform.
Key TakeawaysThe freedom of choice real estate gives Savannah
- Still works as RN when she wants
- Very involved in children’s lives
What inspired Savannah and her husband to pursue real estate
- Way to invest that puts money in pockets now
- Strategy to grow wealth, earn passive income
How Savannah and Lupe came up with a real estate game plan
- Set vision for 5 years out and worked backward
- Got educated and invested in coaching
How Savannah got started with single family rentals
- Lender told about $100K of equity in home
- Used debt to buy income-producing assets
Why Savannah transitioned from SFH rentals to multifamily
- Realized scale necessary to achieve vision
- Healthcare operations skill set translates to apartments
How Savannah pursued real estate while working full time
- Work on real estate from 8 to 12pm every day
- Built-in accountability partner in husband
How Savannah overcame limiting beliefs around raising money
- Trusted with leadership role at work
- Mitigate risk with research and underwriting
How to get brokers to take you seriously as a new investor
- Be specific about what you’re looking for
- Provide feedback on deals within 48 hours
Savannah’s first multifamily deal
- $1M 12-unit in Oregon financed through credit union
- Struggled to raise $350K from friends and family
Why Savannah decided to invest in coaching
- Leverage mentor’s experience to avoid mistakes
- Momentum to get into first deal much quicker
What Savannah is doing to scale the business
- Partner with other investors to raise capital
- Build online platform with Networth Nurse
How Savannah and her husband share responsibilities
- Husband does acquisitions and asset management
- Savannah raises capital and does marketing
Savannah’s advice for aspiring multifamily investors
- Reach out to someone doing what you want
- Research and get educated with podcasts, networking
Connect with Savannah Arroyo Resources
Get Tickets for Deal Maker Bootcamp
Learn More About Michael’s Mentoring Program
Join Michael’s Deal Maker Certification Program
Financial Freedom with Real Estate Investing by Michael Blank