All Forum Posts by: Amy Heitner

If you go through brokers or even reaching out to sellers, it's a good idea to keep in mind how they will see you. Things like a website, an email at your domain and credible social accounts (even small things like a profile pic and bio) can show you are a legitimate business. Most times, the top of a brokers list are those with experience who they've worked with in the past. So making sure you are presenting yourself as credible and trustworthy, can make a huge difference in building the relationship and hearing about those off-market deals. 

Hi Brian, 

Welcome to BP! It sounds like you are off to a great start already especially by educating yourself! 

If you decide to go the multifamily route, Real Estate lab .com is a multifamily software for deal analysis plus they have many other useful features. They offer a demo too, so you can see if it is exactly what you are looking for:)

Just a small note to keep in mind as you are starting out, making connections and looking for deals, keep in mind how you are presenting yourself. Simple things like a branded email at your domain and a website can open a lot of doors. 

Happy investing! 

Greg makes a great point about reaching out to active brokers, those connections can be invaluable. Its also a good idea to build relationships with realtors, contractors, insurance agents, real estate attorneys, and property managers in your area so take advantage of events, conferences, and meetups. Having these relationships can easily lead to really great deals that you likely wouldn't have come across without those connections. Happy investing! 

Hi William, that's awesome you are thinking of taking the jump to multifamily! A mentor can be a great idea but make sure they have walked the walk and align with your goals. As you mentioned, there are plenty of coaching programs that cost a small fortune and may not be all that helpful. Sometimes the best way to find the right type of mentor is simply growing your network and going about your business. You can also learn a lot by doing your research on underwriting and finding the right deals. Plenty of successful multifamily investors have written books or have podcasts where you can learn a lot for almost nothing. I would also keep in mind that very often it is not so much the decision itself but the decision maker that determines the success of a course of action. Multifamily is a solid strategy and with you and your partners real estate experience, I'm sure you will find success. 

Hi Jeremiah, welcome to BP!
Networking at events is a great way to connect with people in your community and find an investor who may be willing to be your mentor.  Under the Get Started tab above, there is a section for Events and Meetups where you can see what live or virtual events are coming up:) 
Wishing you success!

Chris and Evan made a great point, one of the best ways to start is through friends and family. There was a case study where a GP raised a million dollars for a deal with 70% of the funds coming from his personal network. Get referrals too, your friends and family members have their own networks that may be interested. Make sure you have your paperwork in place though to prevent ill-feelings or misunderstandings. They may be family/friends but it is still business and having your t's crossed and i's dotted will save you trouble down the road. 

You're already doing it right! BP is a great spot to connect with others! But think too of the more ways you are reaching out, the more opportunities you'll have to meet potential investors. Being active on social media like BP and Facebook, attending webinars and events will make a big difference. If you have existing investors for the deal, you can offer referral incentives to motivate them to mention your deal to their own network of investors. 

Hi Anthony,

Great questions. On the topic of who to learn from, there is a ton of great free information out there that you can learn a lot from, such as podcasts and blogs. Here are a few great podcasts that have been around a while:

* Michael Blank's "The Apartment Investing Podcast"
* Joe Fairless' "The Best Ever Show"
* Charles Dobens' "The Multifamily Investing Academy Podcast"
* Rod Khleif's "Lifetime Cashflow Through Real Estate"
* The Jake and Gino show

Through podcasts, you get exposed to different ideas and approaches that you can piece together to develop your own strategy. You can learn from the mistakes of others so you can avoid them yourself. And you can stay in touch with what's happening in the market right now. Plus, you can listen to them while you're in the car or doing other things.

Attending some live events is also really helpful. Some events are better for the content and others are better for networking. Both parts are important. We keep a list of upcoming events on our website so feel free to send me a message if you'd like that link.

Then, once you have a pretty good foundation and are closer to being ready to get started, if possible it would be good to have a mentor. I know all of the podcast hosts above have coaching programs. Besides additional training, you also usually get access to a network of like-minded investors who you could potentially partner with. And when you're working on a deal, it really helps to have people you can turn to who will give you personal help and answer your questions quickly.

It sounds like you're taking a long-range approach, which is what's needed. I wish you well!

Hi @Bianca Ivans

Welcome to one of the best communities out there. I'm excited for you!

Sounds like you've already made a great start by investing in yourself first by getting the education you need. You're absolutely right that networking and meeting the right people is a key to your success. I hope to run into you at an event some day! :-) 

Have you tapped into your personal network already (family, friends and work colleagues)?
That's often where many start when getting the capital for their first acquisition. 

Check out this article for some tips on raising money. And this one for getting your mindset right in REI.

I wish you every success for the new year! Please celebrate the win with us when you get that first deal! ;-)

Hey @Jan Chang

Welcome to the world of multifamily investing!

It can be intimidating at first but with conviction and willingness to learn from those with experience you will do great! 

Many of the people I have come across have invested in themselves first by taking courses or finding mentors/coaches who run training programs. Investors like Michael Blank and Charles Dobens run programs and I've heard good things about them. 

Check out this article that can provide some tips on raising money. 

Let me know if you have any questions :-)