You're listening to the Sub 2 Breakhouse with Pace more beyond the wholesale hotline podcast.

Hey guys, welcome. We've got one of my favorite people on the planet, especially in real

estate here with me, Matt Faircloth, one of my heroes, somebody I look up to and have looked

up to for a very, very long time. I believe he's written the only book you should read on raising

private capital. I talk about this book all the time. This is the old version. We're going to be

talking about the new version today. And we're also going to be talking about what Matt Faircloth

focuses on, how he got into this. But, Matt, before

we get started, I tell everybody the most important skill they should learn in getting into real

estate or really anything, even acquiring businesses, is raising capital. That's right. Well,

and the reason for that, and first of all, thank you for having me here. If you don't know how to

raise capital, right, you will always be limited to your own resources, right?

You'll be limited to your own bankability, your own credit, you'll be limited to how much money you have in the bank or how much money you can scrape together under your own name.

Once you know how to raise capital, you'll be able, you can write whatever check you want to write by soliciting it from your own network, even borrowing other people's bankability, right? Once you know how to do that, the world that really opens up on the size deals you can do. Yeah, what's interesting about that too is that you don't have to be the person that finds the deals if you are the person that knows how to raise the money that's right yeah you kind of get the keys to the

kingdom I mean you know we raise a lot of capital as as as does Pace's organization

so people bring deals to both our companies because they know that we know how to

put capital together and it's almost like like a secret but it's not a secret

right and it's not like Pace and I were you both grew up in country clubs, right? You know, went to Ivy League schools and you know, country clubs and that's how we know people with money and that you know people with money as well whether you think you do or not. And this is probably the biggest thing I hear Pace when I talk to students and folks that I meet like I don't know anybody with money right yeah what right well

okay two things if you don't know people with money who there's there's two truths right

and one only one of which is true number one if none of your friends nobody your network

has any money that they should invest with you,

you have a network problem.

You need to go get new friends, right?

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