Ep. 170: Getting Started as an Apartment Investor with Michael Blank

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   Leave us a review and rating on Apple Podcasts or Spotify. Be sure to check out more info at TargetMarketInsights.com.