The Multifamily Wealth Podcast #51: How Thoroughly Do You Understand The Needs of Your Investors? A Convo About Educating Investors and The Mindset Needed To Raise Capital with Ketan Patel
In this episode with Ketan Patel, we dive right into numerous topics that relate to capital raising, such as the necessary mindset shifts that need to occur in order to work with investors, build a platform, and how to understand the needs of your investors. Ketan, a former pharmacist, shares why it’s important to reverse engineer the deals you’re looking for based on what your investors want to invest in (we’re so focused on what we think is a good deal that we forget it needs to align with the goals of the investors who are funding it)!
This is a great tactical episode - I’m sure there will be numerous tips and tricks you take away from it. Ketan is a really accomplished individual in the industry and we go into detail about a lot of important topics. There are a ton of good tips in this episode that would be beneficial to anyone who is looking to raise capital, or for those who want to learn more about the syndication business.
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Show Notes:
3:30 Ketan shares his background, how he got into the business, and what his business looks like today.
5:07 We discuss how Ketan transitioned from small multifamily deals to larger multifamily deals and how he got into syndication.
8:04 Ketan shares the early things that he did to build out his capital network, as well as how he built a platform to raise money from other people outside of his close circle.
11:21 Ketan discusses the mindset shifts he went through to become a more effective syndicator and real estate investor.
13:48 We discuss the necessary steps that investors must take to begin raising capital from people outside of their network.
17:10 Ketan shares his advice on getting investors to transition from coffee shop meetings to investing in deals.
21:20 We discuss what you can do to identify your ideal investor profile.
25:15 Ketan talks about working with a coach or mentor and why it can improve the likelihood of success.
28:30 Ketan shares a piece of advice that he would give himself when just starting out in his real estate career
29:05 Ketan goes over one of the biggest failures he has had in his business and the best decision that he has made in his career.
30:05 Ketan shares one skill or trait that he attributes his success to, as well as what he plans to do in his business over the next couple of months.
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