Mar 9, 2021
Raising money for real estate can be daunting for many investors, especially when you are a newbie. How do you get people to trust you when you have no track record or credibility as an investor? These were the challenges facing Josh Ferrari when he went from newbie to raising millions in just 30 days. apartment investor by raising $6 million in 30 days.
Josh is based in Mobile, Alabama and has a background in aerospace. His first real estate deal was a house-hack, where he lived at the property and handled all of the renovations. Then he scaled up to commercial apartments and tapped into his network to raise $6 million.
Josh shares how he was able to raise so much money as a newbie investor with actionable tips that any investor can employ. He also covers the challenges he faced getting started as a newbie investor. He also highlights the Mobile market and why he sees opportunities there going forward.
Key Insights
The “syndication” portion of my first multifamily deal was from my parents and my brother-in-law.
When I asked brokers what I could do to beat my competition, as a newbie multifamily investor, their advice was to live in the market I was investing in.
I found that raising capital wasn’t difficult, you just had to be genuine and have the investors best interests in mind.
Apparent Failure:
My
first 4-unit wasn’t a success in my eyes, as I didn’t get what I
wanted for my investors. But the experience and getting my feet wet
in multifamily was priceless.
Digital Resource:
Hootsuite (social media marketing scheduler)
Most Recommended Book:
Extreme Ownership (Jocko Willink)
Daily Habit:
90-Day Intention Journal & Miracle Morning
Current Curiosity:
The COVID vaccine
Wish I Knew When I Was Starting Out:
Raising money is easy, because it’s all about relationships
Best Place to Grab a Bite in Mobile, Alabama:
Osman’s Restaurant
Get in Touch with Josh:
@ferraricapital (IG)