Nov '23 in General discussion
The GOOD & The Bad and 3 Lessons Learned When Raising $20M in Just 20 Days
Today marks the end of our $20M in 20 Days Challenge which we started October 10.
The goal was to raise $20M in private capital in just 20 business days. This was a group effort of myself and 20+ of my Mastermind members.
We did NOT raise $20,000,000.
We raised a total of $127,700,000!
$7,700,000 of the capital lined up was from high-networth individuals. However, $120,000,000 was lined up from Institutional capital.
Kudos to my Mastermind members for making this happen (Okenno RehabKing Johnson, Schmoll Reaves-Bey, Jessica Collins, Laura Hoff, Adrian Frederick, Monique Bryan, Marc Prestwood, Floyd Mcguirk, DuWayne Gregory, Marsha Ogletree, and Hannah Seoh)
The GOOD
- The GROUP effort of 20+ people mentioning about the $20M in 20 Days Challenge resulted in massive exposure across FB and LinkedIn. Massive exposure resulted in attracting a lot of private & institutional investors.
2. I went to work - I was on the phone early morning to sometimes late at night - doing 3-way calls with my Mastermind members and their prospective investors. I CLOSED their investors FOR THEM.
The BAD
1. The launch and prelaunch went well. And we made a BIG push close to the end but we missed out on the middle part (about 10 business days) and we did not market as much as we should.
2. We did not implement some of the TRAINING and SYSTEMS (like landing pages) that we planned to help out our Mastermind members raise money. We became too busy as the prep work coincided with preparing for the BRRRR360.
Capital Raising Lessons Learned
- Raising BIG money is actually EASIER because there's more institutional capital looking for BIG deals than there are BIG deals. So what can you do? Don't limit yourself to small deals (houses and 2-4 plexes). Raising capital is more difficult with small deals.
- We should have TIMED the $20M in 20 Days in a way that we are focused 100% on it. I felt like the effort we put in was not as much as it should because we were distracted. So what can you do? Have a marketing plan to attract investors, do a lot of prep work (to put the systems in place), and then follow through with your plan.
- My Mastermind members leveraged on my credibility and track record when talking with investors. This increased the chances of closing the investors instead of them trying to do it themselves. So what can you do? If you're new to apartment investing and raising capital, find an experienced apartment investor/syndicator and sponsor. Thoroughly vet him or her and once you find the right partner, leverage on his/her credibility and track record. Investors look for track record so if you don't have one, "borrow" it by partnering up.
P.S. The photo below is not related to the Challenge...but it sure got your attention right?
1
2 comments
The GOOD & The Bad and 3 Lessons Learned When Raising $20M in Just 20 Days
skool.com/apartment-investing-4128
This group is all about sharing apartment investing secrets.
powered by