Mar 13, 2018
Ever thought of going to a
training session on how to invest in multi-family real estate? You
may not have the money to go, but you can’t afford not to go!
Today, my guest is Bob Bowman, a real estate investor. He attended
Ball State University to major in education and become a teacher.
Eventually, he realized he wanted to be in business. He learned how
to sell and talk to people, as well as create business where there
was none. He made a lot of money - for the company he was working
for at the time. After several years, he got tired of working
for a company and making money for other people. He dreamed about
working for himself in real estate.
Bob began buying single-family
homes. He would buy, renovate, and lease them - and found it to be
a great way to make money. Around 2007-2008, the market changed and
Bob realized he needed to start selling these homes. He lost his
net worth and income. He needed to reinvent himself and started
looking into investing in apartments.
Topics on Today’s
Bob learned how to raise money for real estate deals. After all,
you need money to buy real estate.
- Create an elevator pitch as a selling
technique. This is your moment to shine!
- Educate yourself, as well as generate
discussions and relationships to learn about what you want to do.
In Bob’s case, it was apartments.
learned about how to get deals, how to talk to brokers, and
underwriting when it comes to apartments. Also, he got a coach to
help educate him.
- Corleone Method: When you are good at raising
capital, it gives you power when talking to brokers and others. You
can act competent.
subscribing for a deal and looking to get a commitment, it should
be 2.5X the money you need.
you build a database of investors, it gets easier to raise money.
You need to build relationships where they know and trust
you can’t raise money, you will never reach your full
matter who you are talking to, you need to be a strong underwriter
and know your business and market. Take care of your investors
through underwriting, and know your numbers!
- Is it
a good deal? Or, a great deal? You need to be confident enough to
be able to discuss and decide. You can always say,
spreadsheets are spread around, formulas are changes and not
calculated correctly. The results aren’t what you are going to get
in your investment.
created a software product, called Commercial Underwriter - Simple
Input, Sophisticated Output, for underwriting apartments and
commercial real estate. It is a simple, yet comprehensive tool that
shows how an investment will perform.
of the enhancements for the product will be the ability to create a
professional property package for investors, which will save you a
lot of time.
Method of Success: Educate yourself, mastermind and surround
yourself with like-minded people, teach others, take action, and
become a strong underwriter. If you want to get ahead, help others
through a hand-up, not a hand-out.
comes first, and protect your capital. Plus, find a partner who
complements what you do and shares the risks.
Links and Resources
Don’t forget to download
my Free Workshop Quickstart Video
Series, and if you like
what you have heard please
leave a review on
Text the word MONEY to
408-500-1127 to get my free private money program and credibility
kit for single family.