In this video, we delve deep into the world of multi-family real estate, uncovering the hidden gems and essential insights that every investor needs to know.
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Transcript:
Chris Bounds 00:00
What are some things going into that first large multifamily that you thought would be true and ended up being very much not true?
Darin Batchelder 00:09
Um, you know, some, some people in the space, say, if you find the right deal, money will just be there magically like that I don’t think is true. I think that I think that you need to, you know, build relationships, you can have the best deal in the world, if you don’t have strong relationships with people where they know like, and trust you, then they’re not gonna do that deal. So, you know, raising capital, you know, you can start early, going out to your contacts, and some, so some people have said, Hey, Darren, man, well, I don’t have the experience, how am I gonna go to my network?
And I’m, like, don’t sell you. You know, you’re gonna, you’re gonna partner with a property management company. And as 5000 units in your market, you’re gonna partner with a, you know, an attorney that that’s all they do is sec, syndication type multifamily deals, you’re gonna partner with an experienced guy, you know, so you sell the fact that Yeah, you, you know, they know that you haven’t done a deal yet, right? But you’re like, Hey, show them a deal. What a deal looks like, you know, and you don’t, so you don’t even have to have a live deal. You know, hey, I’m looking for things that look like this. And I’m partnering with companies like this. And then all of a sudden, people are like, Oh, that makes sense. Yeah, it’s
Chris Bounds 01:37
multifamily. Definitely, definitely. I mean, really, all real estate investing is a team sport. But it’s absolutely true when you get into larger projects, like like multifamily, so leveraging other people’s success, which you did initially as operations, but anyone can do and should do, even if you haven’t done a deal, because ultimately, it’s those relationships, and that team is really going to be taken down the deal, not any one individual. Right. And
Darin Batchelder 02:06
then the other thing is that, look, everybody is at different levels, you know, like, people going after the first deal, some people want to get a 20 unit deal, a 50 unit deal. 100 unit, you know, somebody’s already got 3000 units, you know, there’s there’s people, all different facets, but what people have to understand is, you know, there are people in your network that can’t relate to somebody that maybe has 3000 units already. So they don’t want to learn from that person. T
hey want to learn from the person that is just going after their first deal. So, you know, some people think to themselves, I don’t want to post on social media, I don’t want to tell my friends and family, because I haven’t done it yet. I want to tell them after I’ve done it, but those people in those network they want to see how you how you did it, your journey. So share your journey
Chris Bounds 03:05
that I literally just I don’t think it’s posted yet. But it was it was a clip. So say I’ll be posting it soon on Tik Tok. And it’s an event that we did a few years ago, where people were afraid to tell their journey because they’re not Grant Cardone yet, or they haven’t done on, you know, 1000 units, or maybe 100 unit multifamily, or they haven’t bought, you know, 20 single families at the end of the day, and Catch Me If You Can, he talked about he taught this class and it was like, how, how did you teach this class and do it proficiently?
He was like, I just had to be one or two chapters ahead of the students. So wherever you are in life, you’re one or one or two chapters ahead of someone. So it’s not really your right to judge the knowledge that you put out in your experience that you put out because someone out there will get value from it. Not everyone, but someone will. It’s that connection. That really makes an impact and then you just do that consistently as you grow. People love watching that.
Darin Batchelder 04:05
That’s so true. We hit it on the head.