But, when it comes down to it, funding the deal is how you get it closed – and this is what stops many investors in their tracks.
Nobody wants to feel salesy or like they’re standing with hat in hand asking for money, but…
You have to fund the equity downpayment to get the deal to the closing table.
So, what do you do?
When I started out in real estate investing, the thing that scared me most was raising money.
I was confident in my ability to find properties to buy, but the idea of calling up my friends and family and asking them to invest with me was beyond intimidating – I just avoided it entirely.
Not only did I suffer from extreme impostor syndrome, even after I had closed 4 deals. But I also hated the idea of asking anyone for anything. Especially money.
No matter how many times coaches told me, “Jonathan, you have it backwards. You’re not asking for money, you’re offering an opportunity for them to make money.” I couldn’t get over my fears.
This came to a head when I had a great deal under contract called Park Square. It had just gone through a high quality renovation and was near another property I owned.
But my two big seven-figure check writers told me they were out – for personal reasons having nothing to do with the deal.
I took the guru mantra to heart – if you have a great deal, the money will come to you – and tried to raise the funds from other people. But I failed. I lost the deal and tens of thousands of dollars.
That’s when I got serious about building my pipeline of investors. And some time later, when a friend asked to raise capital for them, I decided to take the challenge.
I changed my approach, presenting deals to my list and never once asking a single person for a dime. And doing so, I raised millions of dollars for other people’s deals. And started raising funds for my own deals as well.
And now I’ve trained my students in this method and they’re successfully raising money, getting acquisition fees, and becoming GPs – all because of the methods I learned through hard trial and error, and have now distilled for you in Raise More, Ask Less.
The doors to my updated Apartment Investing Accelerator are officially open, and for today ONLY (through 12 am PST), you can get the workshop recordings for Raise More, Ask Less and kickstart your fundraising efforts.
Nobody has to go it alone. I’ve built an incredible community, and we’ll all be there to help you along the way.
You can come be part of this when you become an Apartment Investing Accelerator student today.