MB467: The 7 Biggest Mistakes You’re Probably Making Right Now - With Michael Blank
Financial Freedom with Real Estate Investing
Michael Blank
4.7 • 577 Ratings
🗓️ 14 April 2025
⏱️ 30 minutes
🧾️ Download transcript
Summary
In this episode, Michael Blank delves into the art of raising capital for real estate, highlighting the importance of using other people's money to build a real estate empire. He discusses the common mistakes people make when raising capital and shares insights on overcoming these challenges.
Key Takeaways:
- Understanding Limiting Beliefs:
- Many aspiring real estate investors struggle with the idea of raising capital due to limiting beliefs, such as "I can't do it," "I don't know anyone with money," and fear of using sales tactics.
- Avoiding Common Mistakes:
- Going online for raising money without prior experience is a common mistake.
- Assuming the money will follow once you have a deal is misleading.
- Start raising capital before securing a deal by using a sample deal package.
- The Importance of Networking and Education:
- Real estate investors should educate themselves and others about the benefits of real estate investing.
- Networking and leaving a positive impression are crucial in building relationships with potential investors.
- Referrals and Expanding Your Network:
- Always ask for referrals to expand your network and potential investor base.
- Stay in touch with potential investors to nurture relationships.
- Leveraging IRA Money:
- Many people have significant funds in IRAs or 401(k)s. Educate potential investors on how they can invest their IRA money in real estate.
- Scaling by Raising Money Online:
- Once you've raised money one-on-one successfully, transition to online platforms to scale up.
- Building a strong online presence requires more than just a website; it involves creating valuable content and having a clear target audience.
- The Who, Not How Mentality:
- Emphasize finding partners who can help fill gaps, such as those who can raise funds while you focus on finding deals.
Connect with Michael
Resources
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Join the Nighthawk Equity Investor Club
Review the Podcast on Apple Podcasts
Get the Book, Financial Freedom with Real Estate Investing by Michael Blank
For full episode show notes visit: https://themichaelblank.com/podcasts/session467/
Transcript
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| 0:00.0 | Hey, dealmakers, welcome to the show where it's all about financial freedom with real estate. |
| 0:03.8 | Let's do this. |
| 0:17.0 | All right, today's episode is we're going to talk about raising capital, how to use other people's |
| 0:20.7 | money to build your real estate empire, like the way that Robert Kusaki talks about in his purple book, Rich Dad, Poor Dad. |
| 0:26.7 | But you don't want to do it with, you know, by begging your friends and family. |
| 0:31.3 | And so many people kind of struggle with this conceptually, even before they get, they get going because of various limiting beliefs to have |
| 0:38.4 | or false beliefs to have about raising capital. They've never done it before. They don't want to |
| 0:41.5 | beg their family and friends. They don't want to lose people's money. They don't even know what to |
| 0:45.5 | say. And so as a result, they make a lot of mistakes along the way. And so I want to talk about |
| 0:52.1 | those capital raising mistakes that people make so that you can |
| 0:55.1 | avoid those mistakes. And one of the things about raising capital is that, of course, it opens up |
| 1:00.0 | the universe to real estate because now your ability to buy real estate is only limited by your ability |
| 1:05.3 | to raise money. And the good news is that you can learn to raise money in about 30 days. It's not really that hard |
| 1:13.6 | conceptually to raise money. And within 60 days, you're actually getting pretty good as you're |
| 1:17.8 | talking to more people. And you can comfortably raise $500,000, a million dollars, $2 million, |
| 1:24.1 | or even more simply by meeting with people one-on-one. But there's so many different |
| 1:30.0 | mistakes that people make, right? They struggle with raising capital because they try to go online. |
| 1:37.2 | They think that raising money online is the easy button and it's not, or they wait to have |
| 1:41.5 | until they have a deal on a contract and they then raise money and they can't |
| 1:44.9 | raise it fast enough and so they lose their EMD, their deposit, you know, or they assume that |
| 1:50.5 | they have to raise all the money themselves. And so what happens is a lot of people fall short and |
| 1:55.4 | they kind of never do a deal and they go away and they say, see, can't be done. And so I want to |
... |
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