Ep. 205: How to Build Trust with Multifamily Investors with Kristen Ray

Dr. Kristen Ray is a family nurse practitioner and co-founder of Vital Investment Partners. To pay for her schooling, she used a cash-out refinance on rental properties she inherited. She continued to build a real estate portfolio on the side and recently completed a multifamily syndication of a 146-unit apartment community in Columbia, SC.  Dr. Ray had to overcome various challenges, including a failed student housing deal, but this did not deter her investors. She shares how she managed to build trust and confidence through these challenges, leading to her first syndication. In addition, she shares how she cultivated her connections in the medical field and info on her target markets.   Partner: Join Us for the Virtual Midwest Real Estate Networking Summit   Key Takeaways:    From Ph.D. nurse practitioner to starting in real estate with inherited properties Master Multitasker: Working full time, going to school and raising children while starting her investment journey Just say no to student loans: Kristen paid for her Masters with cash flow from her apartments through a cash-out refinance  Working with B- and C+ properties, to avoid subsidized tenants How to handle the long road of rejection and failed investment deal attempts  Closing on 146 units in Columbia, South Carolina in March of 2020 Transitioning from duplexes to larger multifamily investments Raising capital lessons from a failed multifamily student housing deal  Lost her earnest money deposit (EMD) but kept her integrity and still paid a return to investors Turning failure into success by jumping on the next opportunity  Cultivating investor relationships in your professional field How to talk about your investment opportunities to coworkers, colleagues and industry professionals  Kristen’s favorite real estate markets and why. Columbia, Charlotte, Texas, Knoxville Tips on structuring a partnership with passive investors Ways to build trust with investors   Partner: Download our Sample Deal Package Bullseye Tips Apparent Failure: Rehab from hell changed her mindset   Digital/Mobile Resource Dropbox   Most Recommended Book: The One Thing (Gary Keller)  Atomic Habits (James Clear)   Daily Habit: Writing my goals down daily   Wish I Knew When I Was Starting Out: Don’t let your fear stand in the way of talking to people   Current Curiosity: Where the world is going due to COVID19   Best Place to Grab a Bite in Baltimore, MD Miss Shirley’s Cafe (Breakfast) Stanford Grill (Dinner)   Contact Kristen: [email protected] Facebook: @Kristenray