Financial Freedom with Real Estate Investing

When you have a high-paying corporate job, it can be tough to walk away. But if time freedom is a priority for you, and you’re willing to take action, you absolutely CAN break out of the rat race and replace your W-2 income with multifamily real estate. Jenny Gou and Steven Louie are the Cofounders of Vertical Street Ventures, a multifamily investment firm dedicated to helping people achieve financial freedom through passive investing in real estate. Steve is an experienced multifamily investor with a portfolio of 2,500-plus units, and he recently quit his corporate job to focus on real estate full time. Jenny left the rat race early in 2020 with a portfolio of single-family homes, and since then, she has gone from zero to 800 multifamily units. On this episode of Apartment Building Investing, Jenny and Steve join me to discuss how they broke out of corporate America, describing the mindset of action and focus on family that drove their decision to walk away. They explain how their respective backgrounds in sales benefit their real estate business, sharing how it gives them a competitive edge in sourcing opportunities. Listen in for insight on the different roles on a multifamily team and learn how to achieve scale by partnering with other investors. Key Takeaways How Steve & Jenny met and became partners Steve met Jenny’s husband at local meetup Similar values, shared background in sales What made Steve a good mentor for Jenny Track record of success in multifamily Allowed to sit in on meetings Why Steve agreed to partner with Jenny Needed support on operations side Respects Jenny’s ability to assess people What appeals to Jenny about multifamily operations Learn by doing to accelerate growth Used to leading teams, managing projects How Jenny benefits from being a full-time investor Opportunity to learn quickly Able to blow past goals The roles on a multifamily real estate team Acquisitions or business development Asset management (execute business plan) Underwriting Investor relations Why Steve & Jenny decided to partner NOW Quit rat race to prioritize family Scale portfolio to replace income What inspired Steve to leave a good corporate gig Mindset of action, right mentors Tax advantages of real estate How a sales background helps multifamily investors Understand importance of relationships Competitive edge in sourcing opportunities What Steve & Jenny would tell their younger selves House hack rather than buy first house Don’t have to be landlord to be investor Connect with Steven Louie & Jenny Gou Vertical Street Ventures Steven on LinkedIn Jenny on LinkedIn Resources Learn More About Michael’s Mentoring Program Join the Nighthawk Equity Investor Club Explore Michael’s Platform Builders Framework Feedspot’s Top 40 Apartment Investing Podcasts Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not by Robert T. Kiyosaki CASHFLOW Quadrant: Rich Dad’s Guide to Financial Freedom by Robert T. Kiyosaki CBRE ABI Multifamily Podcast Show Notes  Michael’s Website Michael on Facebook Michael on Instagram Michael on YouTube Apartment Investor Network Facebook Group

Without the high-net-worth individuals who put money in our deals, we wouldn’t have a syndication business. And yet, most of us are terrible at showing our appreciation to the passive investors we work with. When a deal goes through, we send them a mug or hat with our logo on it and call it a day. But does that reflect what the relationship is actually worth to us? Is there a better way to do gifting? John Ruhlin is the Cofounder of Giftology Group, a strategic gifting consultancy that helps sales leaders, business owners and executives unlock loyalty and turn clients into raving fans. He founded Giftology Group in college to market Cutco Cutlery as a high-end corporate gift to companies of all sizes, and today, John is the #1 distributor in Cutco’s 60-year history. John is also a sought-after keynote speaker and author of Giftology: The Art and Science of Using Gifts to Cut Through the Noise, Increase Referrals, and Strengthen Retention. On this episode of Apartment Building Investing, John joins cohost Garrett Lynch to explain how he came to dominate the Cutco leaderboard using gifting to build relationships. He introduces us to the giftology system, describing how he leverages generosity to turn his best clients into salespeople and raving fans. Listen in for John’s insight on how much to allocate for gift-giving and learn how YOU can get a 10X return by investing in the people who make your business profitable. Key Takeaways How John came to dominate the Cutco leaderboard Learned relationship-building from mentor Paul Sent gifts to land meetings with big-time CEOs John’s insight on the value of relationship-building Make decisions emotionally, justify with logic Gifting = mechanism for generating emotion John’s concept of a return on relationship Initial $7K investment in gift to Cameron Herold $25K over 10 years = 50X return on relationship The key ingredients of John’s giftology system Include handwritten note, name family members Personalize gift and be intentional about timing What makes John’s giftology system work Generates like, trust and keeps top-of-mind People crave human-to-human relationship How much a business should allocate toward gift-giving Reinvest 5% to 15% of net profits in relationships Invest in people already work with at some level Why giftology requires a long-term commitment Genuine generosity vs. manipulation tactic Turn best clients into salespeople John’s top examples of the benefits of giftology Invited to appear on Gary Vaynerchuk show 107% increase in referrals for John Bowen Connect with John Ruhlin Giftology Group Download the Giftology System Email john@giftologygroup.com Resources Join the Nighthawk Equity Investor Club Learn More About Michael’s Mentoring Program Giftology: The Art and Science of Using Gifts to Cut Through the Noise, Increase Referrals, and Strengthen Retention by John Ruhlin Entrepreneurs’ Organization Jab, Jab, Jab, Right Hook: How to Tell Your Story in a Noisy Social World by Gary Vaynerchuk John on Marketing for the Now with Gary Vaynerchuk Artifact Mug The 5 Love Languages Young Presidents’ Organization Vistage Books by Don Yaeger Podcast Show Notes  Michael’s Website Michael on Facebook Michael on Instagram Michael on YouTube Apartment Investor Network Facebook Group

There’s a lot of pressure on high school grads to go to college. Without a degree, the story goes, we can’t earn good money. But Cody Davis realized he didn’t need earned income if he could make passive income with real estate. And he didn’t let little things like being 19 years old and having no money or experience get in his way. Cody is a broker with Blackwell Real Estate in Tacoma, Washington, and multifamily investor with a portfolio of 24 units. And he just turned 21. Cody dropped out of college to get his real estate license just two years ago, and since then, he’s closed on two 12-unit deals—without using any of his own money! On this episode of Apartment Building Investing, Cody joins me to explain how he overcame the pressure to go to college and what inspired his mentor to take Cody on. He shares his unique approach to cold calling, discussing why sellers take him seriously despite his youth and how he’s building the skill of raising money. Listen in to understand how Cody used seller financing to do his first two deals and find out how he achieved financial freedom before he was old enough to buy a drink. Key Takeaways How Cody got interested in real estate Family friend gifted Rich Dad Poor Dad Make good money without college How Cody overcame the pressure to fit in with friends Don’t need degree if earning passive income Partying = unnecessary distraction How Cody found a mentor in Robert Slattery DM re: real estate post on Facebook All-in and willing to work for free What Cody would have done without a mentor Plan to house hack duplex Work multiple jobs to qualify for loan Why Cody is willing to broker deals for others Didn’t qualify with banks early on (cash poor) Learn from investors and their peer group How Cody overcame the fear of cold calling Predict worst-case scenarios Gets easier with repetition Cody’s first $1.1M 12-unit seller financing deal Raise 10% down and partner with mentor 30-year mortgage with no balloon Why sellers take Cody seriously despite his age Phone conversation before meet in person Age irrelevant if know how to negotiate Cody’s second $680K 12-unit seller financing deal Value-add opportunity (off-market) Promissory note for $120K down $2K/month cashflow from day one Cody’s experience with the Law of the First Deal Earned credibility with investors Build skill to raise equity for others in office How sellers benefit from seller financing Splits up tax liability over number of years Income without headache of management Cody’s advice for aspiring multifamily investors Get good at numbers, learn Excel Show how deal is win-win for everyone Connect with Cody Davis Cody on Instagram Email cody@blackwellre.com Resources Join the Nighthawk Equity Investor Club Learn More About Michael’s Mentoring Program Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not by Robert T. Kiyosaki CASHFLOW Board Game The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich by Timothy Ferriss Be Obsessed or Be Average by Grant Cardone Robert Slattery at Blackwell Real Estate BiggerPockets Podcast Gino Wickman on Apartment Building Investing EP243 Podcast Show Notes  Michael’s Website Michael on Facebook Michael on Instagram Michael on YouTube Apartment Investor Network Facebook Group

When your WHY is big enough, you find a way. It doesn’t matter that you’re brand new to real estate investing. It doesn’t matter that you don’t have a college degree. And it doesn’t matter that you don’t have any money. Sadhana Sabharwal is the real estate investor and coach behind Single Mom Millionaire and The No Money Down Academy training course. Sadhana was a recently-divorced, single mother of three boys when she got into real estate, and in four years, she built a portfolio of 46 doors. Sadhana’s focus is on buying, renovating and holding properties for positive cashflow, and she specializes in creative financing strategies that leverage other people’s money to buy real estate. On this episode of Apartment Building Investing, Sadhana joins cohost Garrett Lynch and me to explain how a painful divorce inspired her real estate investing journey. She shares her approach to creative financing, describing how she funds deals with seller financing and why networking was so valuable in helping her learn the business. Listen in for insight on finding your WHY and learn how Sadhana’s positive mindset influences her success! Key Takeaways How Sadhana’s real estate investing journey began Husband left her for another woman Needed way to support three boys How Sadhana got interested in real estate investing Work as law clerk, introduced to investor Invited to join small real estate club How Sadhana funded her first deals with no money Open line of credit against house Home Depot card for renovations Sadhana’s initial plan for real estate investing Find ways to buy without using own money Renovate, refinance and repeat process How Sadhana overcame being female and a minority Joint venture with experienced investor Build trust with consistent networking Sadhana’s advice on getting started with real estate Make use of free resources (Google, YouTube) Invest in real estate investing courses Ask questions at networking events Sadhana’s favorite creative financing techniques BRRRR strategy Seller financing How Sadhana got over the fear of asking for help Remember your WHY No choice but to figure it out What needs to happen to have more women investors Give themselves more credit Role models and strong WHY The top lessons Sadhana learned from her divorce Don’t make your life miserable making his hell Being happy and grateful is your choice Connect with Sadhana Sabharwal Single Mom Millionaire The No Money Down Academy Resources Join the Nighthawk Equity Investor Club What’s the Best Investment: The Stock Market or Real Estate? Podcast Show Notes  Michael’s Website Michael on Facebook Michael on Instagram Michael on YouTube Apartment Investor Network Facebook Group

As a passive investors, we understand the importance of building a diverse portfolio. And while multifamily is the best investment on the planet, it doesn’t hurt to explore our options, especially when BIG opportunities present themselves. So, what are the opportunities in oil right now? And how do we choose a project that is likely to succeed? Bob Burr is the driving force behind Burrite, an investment firm that focuses on the acquisition and consolidation of oil and gas properties. A 47-year veteran of oil and energy finance, Bob is dedicated to helping the industry bounce back from the COVID crisis by providing the bridge capital necessary to weather the current economic storm. Bob is currently raising money for the BR Dome property, a project that involves recompleting 247 existing wells with room for 200 more. On this episode of Apartment Building Investing, Bob joins cohost Garrett Lynch and me to explain how he set himself up for buying opportunities when oil prices dropped and share the tax advantages of investing in oil. He walks us through the parallels between multifamily and oil, discussing the importance of putting together an experienced team that can identify and operate value-add projects. Listen in for Bob’s insight on why a passive investor should consider adding oil to their portfolio (even in the Biden era) and find out how YOU can get Bob’s Q&A video by shooting an email to admin@burrite.com. Key Takeaways Bob’s extensive background in the oil business Started with brother in 1973 Funding projects through syndication How Bob set himself up for buying opportunities in COVID People leave business as price of oil went negative Buy cashflowing wells and wait for cycle to go up Bob’s BR Dome project in Houston 247 existing wells with room for 200 more Note offering with interest rate of 10% to 18% What Bob does to attract and maintain a strong team Take care of people in loving business culture Make it rule to thank team every day The lessons Bob has learned through many market cycles Maintain integrity in relationship with partners Weather storm, make $ when cycle comes back Bob’s insight on buying undervalued assets Pick cashflowing wells not being run efficiently Reduce lifting cost to $3.50/barrel How it works to invest in an oil project Operator leases mineral rights from landowner Operator and investors get 75% of net revenue Why Bob is optimistic about oil in the Biden administration Shutdown of fracking doesn’t impact his business Still make good money at oil price of $25/barrel The parallels between investing in oil and real estate Make money by adding value with good operator Tax advantages (write-off up to 90% passive loss) Why a passive investor should add oil to their portfolio 65% shot at making well from good prospect BR Dome = 90% shot (cherry pick best spots) How to learn more about investing in Bob’s oil projects Email admin@burrite.com Request Q&A video Connect with Bob Burr Burrite Email admin@burrite.com for a link to Bob’s Q&A Video Resources Learn More About Michael’s Mentoring Program Join the Nighthawk Equity Investor Club Bob’s BR Dome Project Brad Simmons at Burrite Justin Burr at Burrite Dale Carnegie Ed Hirs at Burrite Podcast Show Notes  Michael’s Website Michael on Facebook Michael on Instagram Michael on YouTube Apartment Investor Network Facebook Group

In real estate school, they teach you that the money is made when you buy. But that just isn’t true for apartment buildings. Yes, you have to buy right. But in the multifamily space, the money is made in the execution of your plan to increase revenue and reduce expenses. And the asset manager is responsible for making sure that happens. Daniel Simpson serves as Asset Manager at Nighthawk Equity, the investing arm of The Michael Blank organization. He has nearly 30 years of experience in multifamily, residential and commercial property management, developing an expertise in strategic business forecasting, budget allocation, complex data analysis and property financials. Daniel has an impressive track record of acquiring, renovating and repositioning C-class value-add properties in as little as 18 months. On this episode of Apartment Building Investing, Daniel joins me to share his hands-on approach to asset management, describing what he does on his monthly site visits and how he helps property managers optimize revenue and reduce expenses. He walks us through the metrics he uses to identify property management issues and explains why all problems come down to people. Listen in for Daniel’s insight on the limited role property managers should play in construction projects and learn when you should consider hiring a full-time asset manager! Key Takeaways Daniel’s insight on the fundamentals of asset management Ensure investors’ goals met, returns on target Provide guidance to property managers How often Daniel meets with property managers Speak with regional manager once/week minimum Unannounced visit to site managers once/month When to take a hands-on approach with property managers High turnover rate Higher than normal vacancy rate Lack of success in leasing units Collection issues Move-outs not entered timely Daniel’s take on why all problems come down to people Tenants rent from STAFF vs. apartment itself Asset manager’s job = find breakdown in system What metrics Daniel watches closely as an asset manager Consistency in NOI Occupancy (physical and economic) Delinquency Live PNL Closing ratio How to identify problems with property management Look at comps and communicate that with staff Secret shops to evaluate leasing staff’s performance Daniel’s process for optimizing a multifamily business Start with maximizing revenue (add $5 to $10/unit) Minimize expenses next, reevaluate contracts How Daniel thinks about managing expenses Ask questions about potential overspending Audit line items to keep property managers honest What Daniel does on his monthly site visits to a property Walk vacant units, talk with property manager Visit with leasing agents and maintenance staff Verify that move-in files match what’s in system Why property managers should not handle construction Distraction from filling units and collecting rent Better to hire GC or specialist (local or in-house) The role a property manager should play in construction Go to early meetings, input on scope and timeline Hand GC keys needed to carry out project What an average syndicator can do if they can’t afford a GC Use construction manager (part of management co) Build 5% in budget for specialist to oversee project When it’s time to hire an asset manager for your business Depends on skill set of investors in joint venture As soon as you can afford it Connect with Daniel Simpson Nighthawk Equity Email daniel@nighthawkequity.com Resources Learn More About Michael’s Mentoring Program Join the Nighthawk Equity Investor Club CLASS Leasing Podcast Show Notes  Michael’s Website Michael on Facebook Michael on Instagram Michael on YouTube Apartment Investor Network Facebook Group

Yes, work ethic and taking action are key in becoming a successful real estate investor. But mindset is even more important. Before you can start working toward the life you want, you have to conquer middleclass thinking. You have to stop following the money and start making money follow YOU. Keith Weinhold is the real estate educator, entrepreneur and investor behind Get Rich Education, a platform designed to help people achieve financial freedom through real estate investing. An active member of the Forbes Real Estate Council, Keith is known for his expertise around buy-and-hold real estate, and he transacts 100-plus properties per year. Keith is also a bestselling author and host of the wildly popular Get Rich Education Podcast, a show with more than 3M downloads in 188 countries. On this episode of Apartment Building Investing, Keith joins cohost Garrett Lynch and I to explain why mindset is crucial in becoming a successful real estate investor, describing how to overcome middleclass thinking and make other people’s money work for you. He weighs in on why delayed gratification is overrated, challenging us to cultivate an abundance mentality and start living the life we want right now. Listen in for Keith’s insight on the ‘shadow demand’ in the housing market and learn why inflation is a good thing for YOU as a multifamily investor. Key Takeaways Why mindset is crucial in becoming a successful real estate investor Don’t live below means but EXPAND means Make outsized decisions to live outsized life What inspired Keith to move to Alaska and invest in real estate Go after what you want or you’ll never have it Rather than following money, make money follow you Why so many people settle and never take action to invest Peer group reinforces doing safe thing ‘To change yourself, change your five’ The first steps to improving your quality of life with real estate Get honest about what you really want Live beneath means vs. live well The problem Keith sees with middle class thinking Work for money and have little left to invest Make money work for you (vs. other people’s money) How real estate makes other people’s money work for you Tenant’s money for income Bank’s money for leverage Government money at scale Why more people aren’t investing in real estate over Wall Street Best product but worst marketing Lack of financial education Keith’s mission through the Get Rich Education platform Financial freedom through real estate Live better and give better (abundance mindset) Why Keith thinks delayed gratification is overrated Subpar quality of life until old enough to retire 401(k) = life deferral plan Why the property is the 4th most important thing in investing Decide what want real estate to do for you FIRST Carefully consider market and team of professionals Keith’s short-term outlook on the real estate market Strict criteria to qualify for eviction moratoriums 95%+ rent collections Keith’s insight on shadow demand in the real estate market More household formation as economy recovers Demand increase with population growth, immigration The 3 ways inflation is good for real estate investors Price inflation Debt debasement Cashflow enhancement Connect with Keith Weinhold Get Rich Education Get Rich Education Podcast Resources Learn More About Michael’s Mentoring Program Keith on Apartment Building Investing EP034 Rich Dad Jim Rohn Ted Benna on Get Rich Education EP197 Pew Research Statistics on Young Adults Living with Parents US Bureau of Labor Statistics Consumer Price Index Keith’s Inflation Triple Crown Video Keith’s Free eBook 7 Money Myths That Are Killing Your Wealth Potential Podcast Show Notes  Michael’s Website Michael on Facebook Michael on Instagram Michael on YouTube Apartment Investor Network Facebook Group

Raising capital is at the heart of multifamily syndication. But how do you build relationships with prospective investors and make them feel comfortable enough to trust you with their hard-earned money? David Meilan is the Director of Investor Relations at Nighthawk Equity, the investing arm of The Michael Blank organization. He has worked in the multifamily space since 2018, raising over $100M in investor capital for a range of commercial syndications. David excels at maintaining relationships with investors, and he is committed to helping people achieve financial freedom through passive investing in multifamily real estate. On this episode of Apartment Building Investing, David joins me to discuss the importance of building relationships with investors and explain what he is doing to turn prospects into raving fans of Nighthawk Equity. He walks us through the steps of raising capital for a deal, describing how we make the process easy for investors and stay in communication after close. Listen in for David’s insight on producing content for potential investors and learn how to leverage strong investor relations to raise money for YOUR next multifamily deal! Key Takeaways How to turn prospective investors into raving fans Provide great multifamily investment opportunities Communicate early and often, be responsive Build trust with educational content (guide through process) Why it’s important to build a relationship with investors One-on-one call to get to know investors and build trust Tailor opportunities to investor profile and preferences How David tracks his conversations with investors Keep notes during call re: what investor is looking for Document on spreadsheet and in ActiveCampaign David’s insight on the process of producing content for investors Ultimate goal of helping investors on financial journey Batch videos based on FAQs, outsource production How Nighthawk goes above and beyond on investor relations Communicate re: upcoming opportunities Inform how property is performing (update webinars) What Nighthawk is doing to recognize strategic investors Build out investor club tiers Reward those who put large amounts of capital in deal What a Nighthawk Equity capital raise campaign looks like Email investors with preliminary info re: opportunity Webinar to talk about deal in depth (2 weeks later) Fill out paperwork, e.g.: PPM and company agreement Receive funding instructions and follow through How Nighthawk Equity streamlines the investing process Managed through online investor portal Automates workflow (easy for investors + syndicator) How David maintains investor relations once a deal closes 3 monthly follow-up investor update webinars Monthly email update for duration of investment Respond to investor questions within 24 hours David’s advice for syndicators around raising capital Provide investors with sense of comfort Set self apart by making them feel safe Connect with David Meilan Nighthawk Equity David on LinkedIn Resources Join the Nighthawk Equity Investor Club Download Michael’s Free Report—What’s the Best Investment: The Stock Market or Real Estate? Register for Michael’s Platform Builders Training Learn More About Michael’s Mentoring Program ActiveCampaign Podcast Show Notes  Michael’s Website Michael on Facebook Michael on Instagram Michael on YouTube Apartment Investor Network Facebook Group

They say that your network is your net worth. And Pat Hiban has proven this to be true over and over again. Making connections through networking and mastermind groups, he has established multiple business partnerships and created more than 30 passive income streams! So, how can we leverage what Pat has learned about building relationships to reach the next level of success in our own lives? Pat is the Cofounder of GoBundance, a business mastermind for healthy, wealthy, generous men who want to lead EPIC lives. A former top-performing real estate agent, Pat was the #1 RE/MAX agent in the world in 2004 and earned the same honor with Keller Williams in 2006, selling more than 4,000 homes worth over one billion dollars in the course of his career. Pat is also the former host of the Real Estate Rockstars Podcast and the author of 6 Steps to 7 Figures and Tribe of Millionaires. On this episode of Apartment Building Investing, Pat joins cohost Garrett Lynch and I to discuss what inspired his initial goal to become a millionaire and share the key lessons from 6 Steps to 7 Figures. He explains how his definition of success has evolved to focus on relationships and describes the power of joining a mastermind community. Listen in for Pat’s insight around building on your successes and learn how networking with other high-performing entrepreneurs can take YOUR business to the next level! Key Takeaways What inspired Pat to become a millionaire Boost to self-esteem More money = less stress How Pat’s definition of success has changed Ego-driven to make money from 21 to 35 Relationships + time most valuable now Pat’s key lesson from 6 Steps to 7 Figures Build on successes (not from ground up) Go deep in one area rather than wide The key to Pat’s ongoing success Naïve enough to keep moving forward Believe in self and be coachable Pat’s insight around the value of relationships 30+ opportunities from mastermind One relationship away from next level The idea of horizontal income Things that pay you sideways Multifamily, businesses, etc. What Pat is investing in right now Cryptocurrency (Bitcoin and Ethereum) VC funds and private companies Single- and multifamily real estate Connect with Pat Hiban Tribe of Millionaires GoBundance Pat on LinkedIn Resources 6 Steps to 7 Figures: A Real Estate Professional’s Guide to Building Wealth and Creating Your Own Destiny by Pat Hiban Tribe of Millionaires: What If One Choice Could Change Everything? by David Osborn and Pat Hiban Real Estate Rockstars Podcast David Osborn Tim Rhode We Study Billionaires Real Vision Podcast Learn More About Michael’s Mentoring Program Join the Nighthawk Equity Investor Club Podcast Show Notes  Michael’s Website Michael on Facebook Michael on Instagram Michael on YouTube Apartment Investor Network Facebook Group

We’ve always said that multifamily is recession-proof, and 2020 gave us a chance to prove it. While the stock market and other asset classes suffered in the pandemic, apartment buildings continue to provide steady cashflow and a safe place to keep our money growing for the long term. So, what can syndicators do to get this message to more people and build a successful real estate investing business? On this episode, I’m sharing the Best of 2020 on the Apartment Building Investing Podcast, beginning with last year’s biggest news—the Coronavirus pandemic. We revisit Drew Kniffin’s thoughts on the risk COVID poses for passive investors, Drew Whitson’s take on why multifamily is still the strongest asset class in real estate, and Russell Gray’s insight on how to protect your wealth in a crisis. We look back at my conversations with Pat Flynn and Amy Porterfield on marketing to investors online and my interview with Gino Wickman around what it takes to be a successful entrepreneur. Listen in for master deal maker Garrett Lynch’s insight on choosing the right market and get inspired by BiggerPockets VP Brandon Turner’s approach to achieving BIG things with tiny action. Key Takeaways How COVID is likely to impact passive investors in multifamily Unless already run poorly, virus won’t bankrupt property Much better option than stock market (30% paper loss) Why multifamily is still the strongest asset class in real estate Performs well through economic disruption Office buildings, retail and medical suffered in COVID What makes real estate a solid investment (even in a crisis) Fits criteria of being both REAL and ESSENTIAL Governments support housing, energy and healthcare What to look for in a multifamily real estate market Resources available to operate and steady dealflow Population, job and overall economic growth Who should consider building a thought leadership platform EVERYONE can build personal brand online Place to announce, connect and prove authority Why an email list is more valuable than social media followers Algorithms change, you don’t own social platforms Email list = YOUR asset for growing relationships How to choose the right lead magnet for your audience IRRESISTIBLE piece of free content (trade for email addy) What avatar needs to believe to do business with you The eight critical mistakes most entrepreneurs make Not having vision Hiring wrong people Not spending time with your people Not knowing who customer is Not charging enough Not staying true to your core (shiny object syndrome) Not knowing your numbers Not crystalizing roles and responsibilities The eight disciplines for increasing your chances of success Clarify vision Decide if you’re ‘partner person’ Bigger problem = more success Get feedback early and often First plan will not be final plan Work hard (really hard) Take criticism with grain of salt See it every night The two kinds of ‘partner people’ in entrepreneurship Equal partners Give equity but maintain controlling interest Why it’s crucial to have a clear vision for your business Know where you want to be and take next tiny step Ask what’s cool and write as if you’re already there Connect with Drew Kniffin Drew at Nighthawk Equity Drew on LinkedIn Connect with Drew Whitson Drew at the Michael Blank Mentoring Program Drew on LinkedIn Connect with Russell Gray The Real Estate Guys Russell on LinkedIn Connect with Garrett Lynch Garrett at Nighthawk Equity Garrett on LinkedIn Connect with Pat Flynn Pat’s Website Pat at Smart Passive Income Connect with Amy Porterfield Amy’s Website Marketing Made Easy Podcast Connect with Gino Wickman Entrepreneurial Leap Entrepreneurial Leap: Do You Have What It Takes to Become an Entrepreneur? by Gino Wickman Connect with Brandon Turner Open Door Capital BiggerPockets Podcast The Book on Rental Property Investing: How to Create Wealth with Intelligent Buy and Hold Real Estate Investing by Brandon Turner Resources Drew Kniffin on Apartment Building Investing EP208 Drew Whitson on Apartment Building Investing EP228 Russell Gray on Apartment Building Investing EP226 Garrett Lynch on Apartment Building Investing EP231 Pat Flynn on Apartment Building Investing EP210 Amy Porterfield on Apartment Building Investing EP212 Gino Wickman on Apartment Building Investing EP243 Brandon Turner on Apartment Building Investing EP221 Bryce Stewart on BiggerPockets Podcast EP276 Vivid Vision: A Remarkable Tool for Aligning Your Business Around a Shared Vision of the Future by Cameron Herold Find Out More About Deal Maker Live Learn More About Michael’s Mentoring Program Register for Michael’s Platform Builders Workshop What’s the Best Investment: The Stock Market or Real Estate? Podcast Show Notes  Michael’s Website Michael on Facebook Michael on Instagram Michael on YouTube Apartment Investor Network Facebook Group Email digital@themichaelblank.com