Mar 3, 2020
Michael Blank has helped
investors purchase 5,000 apartment units worth $215 MM. He is the
host of the Apartment Building Investing podcast.
As CEO of Nighthawk Equity,
Michael’s team controls $75 million in multifamily across the
US.
He knows many investors
have trouble getting started, so he emphasizes the power of the
first deal. In today’s episode, we talk about the limiting beliefs
many face when doing that first deal - analyzing deals, raising
money from investors and attracting new investors through an online
platform.
Partner: The Midwest Real Estate Networking Summit - Early Bird Tickets End March 15
Key Insights
- Received a large sum of money from an IPO
- Invested heavily in restaurants and lost the money in 2008
- Started investing in real estate, going from flips, to single-family rentals to apartments
- Began blogging and sharing his deal analyzer with others
- The Law of the First Deal - If you do one, it will build your confidence and momentum
- No investment is fully passive, but there are degrees of being passive
- How did multifamily perform during last recession - Fannie & Freddie loans default rate was 0.4% (compared to 4% for single-family homes)
- Created the Syndicated Analyzer to help evaluate deals
- Tools, education and support: Great source for information is the property manager
- Typical Mindset: “I don’t have money, I don’t know anyone with money and I don’t want to ask my friends and family even if I did have a good deal.”
- Raising capital is not begging for money, it’s providing a service
- Steps to attract more money: 1. Create online platform, 2. Offer a lead magnet, 3. Nurture and educate, 4. Investor call and live discussion
- Ways to create content: leverage technology, outsource, or record in your phone and use rev.com
Partner: Download a Free Sample Apartment Deal Package
Bull’s Eye Tips:
Resource:
Financial Freedom with Real Estate Investing by Michael Blank
Apartment Building Investing Podcast
Apparent Failure:
Restaurant business I’m not in control - be at peace regardless of the circumstances
Most Recommended Book:
Miracle Morning by Hal Elrod
Miracle Equation by Hal
Elrod
The One Thing by Gary Keller
Most Recommended Digital/Mobile Resource:
Rev.com
ActiveCampaign
Boomerang
Bonjaro
Daily Habit:
Clarity on what to do and scheduling time to do it
Wish I Knew When I Was Starting Out:
Start right in multifamily
Wish I Knew 12 Months Ago:
The power of the online platform
Advice for Smart, Driven College Student:
Get clarity on immediate goals
Current Curiosity:
Motivation
Best Place to Grab a Bite in Northern VA:
Sakura Japanese Steakhouse
Connect with Michael:
Website: themichaelblank.com
Text “platforms” to 44222 to learn more about creating online platforms
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