by | 03, Aug 2022

Book Deep-Dive: Raising Capital For Real Estate

Raising capital is the single most sought-after and lucrative skill in the entire real estate sector. It’s the one skill that, if truly mastered, can ensure you’ll always have a place in the world of investment real estate. Thankfully, there has never been a better time to create a highly scalable system that allows you to attract the right investors, build relationships through your initial correspondence and supplemental educational content, and motivate others to invest in your offerings for years to come.

Remember, with each episode, we will provide a helpful Deep-Dive infographic where we break down the entire book on to 1 page! And we finally have a link for you to find all of them! Visit invictusmultifamily.com/notes to find all of the sophisticated investor notes!

Here are our top 10 takeaways:

  1. Financial Education
  2. Hunting For Capital
  3. Your Investor Base
  4. Branding: 101
  5. Don’t Skimp
  6. Practice Your Pitch
  7. Closing The Sale
  8. Becoming A Farmer
  9. Going All In
  10. FAQ

Tweetable Quotes:

“Farming is all about creating a content-generating machine. And this is the most important part because when you’re creating content and you’re leading with education, you’re putting out value into the world.”  – Anthony Vicino

“So key takeaway is don’t skimp on the cost of putting together a robust presentation, whether it be the deck or the webinar.”  – Dan Krueger

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five rules of investing

The Five Rules of Investing

** Transcripts

Raising Capital

[00:00:00] Anthony: Hello, welcome to multifamily investing made simple. This is the podcast. That’s all about taking the complexity out of real estate investing so that you can take action today. I’m your host, Anthony of Invictus capital joined as always. Bye by Dan

[00:00:28] Dan: Kruger. I was

feeling

[00:00:30] Anthony: it. You were, yeah, you’re bringing the energy

[00:00:32] Dan: anticipation coming.

Uh, but you, you know who I am. You

[00:00:35] Anthony: guys know? Yeah. You know, this is Dan, this is Danny boy old Danny boy, an old anti boy. Um, bringing it to you guys. We’re recording outside of our usual recording blocks. So this, this is actually the. Uh, so I haven’t had coffee, I’ve had coffee. It’s not a sufficient amount of coffee yet, or it hasn’t hit my, my veins.

And so the energy might be a little bit different here. Well, maybe it’ll

[00:00:57] Dan: kick in mid episode.

[00:00:59] Anthony: Yeah. [00:01:00] Mid midway. We’re gonna hit our flow and you guys are gonna be like, whoa, that coffee hits different. So, but we, uh, appreciate you guys taking some time to join us here today. We’re gonna be doing a book deep dive into my favorite book from the author hunter Thompson.

No, no, no, no, not that hunter Thompson like fear and loathing in Las Vegas. Okay. Actually said, okay. I, I read the wrong book. Okay. Um, I take it back. I actually, this is not my favorite book from hunter Thompson, different hunter Thompson. Um, This book by hunter Thompson is very good. It’s called raising capital for real estate, which if you’re listening to this and you’re a passive investor, this might not be super interesting to you.

So you could just tune out. But if you’re an operator, you’re looking how to raise capital for your deals. This is gonna be very apropo. Um, but your passive investor, maybe just stick around because it’ll give you, we’re gonna talk a little bit about how this has influenced our own capital raising efforts.

So that’d be kind of interesting to see how like peak behind our hood. Um, but it is unfortunate that his name is hunter Thompson. Hmm. And he wrote a book because I gotta imagine from like an SEO [00:02:00] or search engine perspective, he might be as much traffic as he

[00:02:04] Dan: could. That might help him. Actually. You think, I mean, hunter S Thompson’s a pretty big name.

It’s a pretty big name. People might discover this hunter. Uh, by accident, they’d be like, Ooh, this guy’s pretty cool

[00:02:14] Anthony: too. I think for the drug in rock and roll, I stayed for the capital

[00:02:16] Dan: racing. Yeah. He’s nothing like the other one. Nothing like

[00:02:19] Anthony: it. Yeah. So this book is, is fantastic though. Like there’s no joke.

Like I, I hold hunter in high respect. Uh, he he’s over at Asim capital and these guys are. They’re Ty, they’re the, the quintessential capital razors. They just raise capital that they deploy amongst different asset classes and different, uh, operators and different geographies. And that’s all they do. And so, um, we don’t necessarily work a lot with capital razors on our own deals we have in the past.

We do every now and then, but, um, this is what they do. And so if you’re gonna take advice from somebody on how to build a capital raising machine, you could seriously not do better than hunter. Yeah, in this book

[00:02:56] Dan: in particular, I gotta say there’s no fluff at all. It’s [00:03:00] just really actionable, uh, information that, um, makes it really easy to understand.

Like here are the steps. It’s very, it’s written in my kind of language, which is just data and information. Yeah.

[00:03:11] Anthony: Few stories. But. That’s always been the thing about hunter that I appreciate, even his podcast. He has a great podcast. Cashflow connections recommend you guys go listen to that. Um, we don’t get any kickbacks here, guys.

We’re not affiliated with these with hunter or anything in any kind of way. Um, just he does great work. But’s got great information and always has a bent towards end analysis and data. A little bit light on the fluff, a little bit light on the stories sometimes, but that’s okay. I think when it comes to investing, that’s not a bad.

[00:03:36] Dan: Mm-hmm yeah. Especially for this book, which is here’s how to do a

[00:03:39] Anthony: thing. Yeah. And on this topic, there’s really not a lot of books out there. Mm-hmm on the topic of how to raise capital. Like I, I recently did a presentation at the Jake and Geno event, um, talking about like our process where we’d think about capital raising through the lens of being a hunter or a farmer.

And it was, it was really illuminating to me cuz a lot of people came up afterwards and they’re like, [00:04:00] this was awesome because there’s just like no information up there generally when it comes to fund. You usually all the resources are around like private equity maybe and like angel investing, how to raise capital for your startup.

Not necessarily for real

[00:04:12] Dan: estate. Yeah. And that’s a completely different investor typically. I mean, there’s gonna be some crossover, but that’s a different audience. Um, so yeah, I, I love this, I read it late. Um, I’ve had this book for probably about a year and I remember reading bits and pieces, but in going through it, uh, just over the past week, I realized that I actually didn’t read.

Uh, most of this until just recently. Um, and it was pretty insightful to find that a lot of things that we’ve, um, found from other sources, um, align perfectly with the stuff that, that Hunter’s talking about here. And I was thinking that this is this would’ve been the perfect book to come across in like the first year of our business.

Um, cause we got a lot of the info, some of it from hunter, some of it from other sources, but, um, you know, this is a gold mine for people trying to do what we’re doing, except uh, just starting.

[00:04:59] Anthony: [00:05:00] Yeah. I’ll say that. I read this book after our second capital raise and. It was interesting, cause it kind of reinforced a lot of the things that we were already doing.

Mm-hmm um, in a lot of ways, there wasn’t anything super revelatory in there, but it’s always good to get confirmation and just peek behind the hood of how others are doing it. And then I took a, a number of things and did start implementing it. And so full transparency, like a couple of things that we do are a direct result of, of, you know, things that I’ve learned from hunter personally.

Um, for you guys, if you’re not sure what you’re doing here on this podcast episode in particular today, uh, this is our weekly book, deep dive. And just remember our whole goal is to take this book and distill it down to 10 takeaways five from me, five from Dan, and then we’re gonna take those. We’re going to put them into a beautiful infographic that we call sophisticated investor notes.

And then if you guys want those they’re free. There’s a. Folder, probably with like 15 of them at this point. Um, if you want that link, just shoot me an email. Anthony Invictus, multifamily.com. We’re gonna get a, a fancy URL [00:06:00] set up on the website here. I keep saying this weekend week out. Uh, but it’s on my to-do list today, actually.

So it’s gonna get done and, but I don’t know what the, you are. This is gonna be

[00:06:09] Dan: with embarrassing next week, if it’s still not there. Yeah. I mean, we are out there. It’s out there.

[00:06:14] Anthony: I’m I’m calling my shot. It’s gonna be there. Let’s let’s go ahead and say. That it’s going to be Invictus, multifamily.com/what do you think?

Notes, sophisticated notes. Sophisticated notes. Well, that’s, that’s two words and I, I usually like the URL to be one word. So let’s go notes. Two words take no, I like notes. That’s easy notes. Notes is easy. Okay. So it’s gonna no URL. So we literally just in real time, you guys saw like our process , uh, Invictus, multifamily dot.

back slash notes, easy. And by the end of the day, by the time you listen to this podcast, it’s gonna be up and live. Boom. That’s that’s my promise to you. Now let’s get to the takeaways. We said, we’re gonna save you some time and all we are doing so far is, um,

[00:06:54] Dan: wasting we’re wasting time. I don’t know if, yeah, I don’t know if wasting, you know, you can, you can, we’re [00:07:00] brainstorming

[00:07:00] Anthony: your house.

You can spend time. You can invest time. Mm-hmm so far you’ve just been spending time. yes. Let’s. We’ll give it that. We’ll start investing some time. What’s your, what’s your first takeaway?

[00:07:09] Dan: Um, first takeaway again, no, in, not in any particular order other than this is just how I wrote things down. Um, I basically went through and I pulled out, uh, titles of chapters, and then I’ve got some notes on the, uh, the aspects of that chapter that I thought were especially valuable.

And again, I’m gonna kind of reiterate this we’ve. Uh, organically come to a lot of these conclusions from other sources, whether it be mentors, other books, readings a lot from, from hunter as well. Um, so I’m pulling out the stuff that wasn’t necessarily like a game changer when I was reading it this past week, but would’ve been a game changer if I had read it in my first year.

And so the first one here is a financial education, the ultimate asymmetric investment asymmetric investment. I think this was probably one of the first chapters. And, uh, it was, uh, you know, Impactful for me to read this because I’ve seen so many examples of, of this, um, [00:08:00] this piece of things being skipped.

Um, you need to be an expert in your space, and we’ve seen a lot of newer operators in the area who are jumping in and raising capital for their very first deal. And, uh, it’s doable. You can do that. We always recommend that you kind of ease into raising. Um, get, get some experience yourself, maybe start some small partnerships before you go out and start, uh, actually doing a syndicated deal.

Um, but what happens is if people jump into quickly, um, they might not have all the best information. They may not be presenting. Uh, the full picture of an opportunity slash the risks, uh, for their potential investors. And this could be, um, this could be problematic. Uh, we’ve seen some miscalculations in, uh, in metrics and some decks.

We were just talking about this. I can’t remember if it was on a podcast or if it was just offline somewhere. No, we did. We did

[00:08:51] Anthony: a podcast on how to calculate cash on cash returns, right? Yep. That was a result of, so you guys should go listen to it’s.

[00:08:56] Dan: I. Yeah. Yeah, exactly. I mean, that was a result of us seeing [00:09:00] not just one, but numerous examples of operators who, um, maybe not out, you know, being nefarious, maybe just out of not knowing any better, you know, miscalculating some of the metrics because they’re just new and their first deal.

Um, they may not understand the fundamentals of what’s actually going on. So the, be the first thing you need to be doing, if you’re gonna be raising capital, uh, for real estate investments or any investment really is to become an expert. And there’s a few ways you could do this one. Uh, you could read books like Hunter’s book, you could read, um, probably any of the books that we’ve done on, on these episodes.

Um, but reading books, formal education, whether it be in a course or, or a college or something, uh, mentorship that’s, that’s an amazing one. Podcasts and events. Those are, you know, podcasts are pretty good. Events are kind of hit and miss. Some of ’em might be amazing. Some of ’em might be a pitch Fest. Uh, but I think the most important one is hard docs.

You know, getting the reps in yourself and really experiencing the thing with your money before you go out there and try to, uh, take other people’s money, you know, really prove out the concept. Um, and another thing I’ve seen, uh, [00:10:00] newer operators doing, I was actually just talking to, uh, uh, current investors gonna be coming.

Deal we’re working on right now. Um, about this, they’ve been looking at a lot of other deals with other operators and something they’ve seen that they really noticed, um, was a lot different than our methodology was that we show what we call our base case, which is really base is almost, uh, kind of underselling what it is.

It’s the pessimistic. Pessimistic underwriting scenario, where we’ve got rising cap rates, no cash out, refinance, high vacancy. We just kind of assume everything’s gonna suck. And we take a look at what the deal would look like in that scenario. Very few operators actually do that. Uh, what a lot of guys do is they just present the, the really rosy scenario.

So that’s another product of just being newer. Um, you might be insecure about showing the downside or you just might not know that it’s important to do so. So education has gotta be the first step. You’ve gotta be an expert before you start to, uh, allocate capital for other people.

[00:10:58] Anthony: A hundred percent. I say this all the [00:11:00] time is that I believe you need to pay your tuition at the school of heart knocks with your own dime before you go raise capital.

Like I know raising capital is an easy way to get into real estate. It’s really sexy people find it to like, oh, I don’t have to have experience. I just go raise capital from friends and put it with some operators. Becomes great. But the problem is like, you don’t know what you don’t know yet. You only know a little bit more than your investors, which puts both of you at a ton of risk and you need to be an expert.

And the only way to become an expert is to put in the reps, put in the time, like listen to all the podcasts, listen to read all the books, but then at a certain point you have to actually go and apply the information. And if you’ve, if all you have is theoretical knowledge of the thing, it’s going to come back to bite you.

And, and this is like really transparent. I think the longer that. We’re in this game and we kind of observe the, the social media landscape and how people talk about things. It becomes more clear to me, the people who are just re reciting mm-hmm thing, like the theory without really understanding the nuance of, of the practice.

Um, and, and you can tell [00:12:00] because typically people who are only theory, um, taught, they, they speak in a lot of black and. Rather than the grades and the nuances. So, and it’s always very

[00:12:09] Dan: simple, like

[00:12:09] Anthony: oversimplified things oversimplify. Yeah. And our whole stick is to simplify things. So like I get it. Um, but here, the other thing on the, the business plan, here’s the thing that I’ve, I, I think about a lot.

And if you’re the people that only show one business plan, one scenario don’t understand that a business plan is not a singular data point or a singular destination. It’s a spectrum. And if you don’t understand what the spectrum of results that you could achieve are then you don’t really fully have a business plan all.

And when I see a, when I see a prospectus that has just like, here’s the returns that we’re hitting, it’s like, okay. But what’s my range. And without understanding the range, I can’t really understand the investment. Yeah. Yeah. I like it. Okay. So mine is a slightly different and, um, it goes into what I was, I was talking to [00:13:00] talking about before about, um, the differe.

In the beginning, you’re gonna be a hunter effectively, which is apropo because it’s hunter Thompson. But when you’re doing your very first deal, you have to start with your friends, your family, your colleagues, people who know you. And that’s a really, that’s really difficult because not only are you having to now sell the deal, but before you can even sell the deal, you have to sell them the vehicle.

And also yourself, and that’s quite difficult because for most people in your friends and family network, unless you’re coming from a real estate background, they don’t know. What a syndication is. So you have to sell that vehicle, but you also have to sell multi-family or storage or whatever you’re raising capital for.

And so that’s very difficult. And then you also then have to sell them on yourself. And the fact that they know you as a particular thing up to this point, if it’s your first capital raise, it means you’ve never done this before. And so you have to change that identity that they have for you as well. So now you have to ch you have to sell the vehicle.

You have to sell yourself, and [00:14:00] finally you can sell the deal. And for most people, they just jump in and they try to sell the deal mm-hmm and they gloss over the other two. And then they’re surprised when nobody wants to invest with them on that first or second deal and understand that first and second deal are always gonna be the hardest ones.

But I think understanding why they’re so hard can give you some tools then to go and build your system in a way that’ll help you transition from being a, a hunter to a farmer, which I’ll talk about in another takeaway.

[00:14:27] Dan: Yeah, I like that. I think, um, I’m especially susceptible to that type of behavior because I’m one of those kind of data driven types of guys.

The data is what speaks to me. And my assumption early on in, in this business was that if it’s something that I wanted to hear or the information was presented in a way that I would’ve liked, then that’s what my, my, uh, prospective invent investors would want. Um, which is not the case. I’ve found that the vast majority of people have much different needs and desires, uh, for making.

A [00:15:00] financial decision than I do. Um, and I’ll get into a little bit more of the detail on that specifically on kind of the emotional side of things in a future takeaway, but that was a big one for me as well. I didn’t, I don’t think I pulled that out as one of my takeaways, but that’s one, that’s been a, a big game changer for me because it’s a big shift for my, my default setting.

cool. What’s your number two, number two, activating your investor base debate debate. It’s like a

[00:15:24] Anthony: enhanced, it’s like a, some kind of superhero expect. Yeah. Some music to start firing up. Like,

[00:15:32] Dan: um, yeah, I pulled this one out because this is really about, um, Kind of the first part of the process of engaging with your potential investors.

But the piece I I pulled out from, from this chapter was that you need to develop a robust, uh, contact management system and ideally an automated strategy for this. Um, now this is, I think, important for somebody. Newer to, to, um, take note of, because it’s very easy to skip [00:16:00] this step. Most people, as they get into raising capital for these types of deals, start with those closest to family and friends, and you probably don’t need a CRM, uh, to keep in touch with your sister and your brother and your parents or whatever, you know, that first year network, it’s it.

It’s not entirely obvious right off the bat that you need something to manage, uh, the amount of, of contacts you’re gonna be inevitably, um, Responsible for in the future. Um, so this step often gets skipped until it’s a little bit too late and people have to kind of back pedal and, and try to build out a system, uh, probably a little bit after they should have had it.

I think give ourselves some credit. I think we probably did this rounded, appropriate time, you know, early on there was less automation, but there was pretty good tracking, but I wanna make sure that people realize that you do need. be systematic about how you are handling your, your, your contacts in your potential investor pool, even when it’s early on.

And it’s just family and friends, because it gets really easy to just [00:17:00] caught up in the, uh, get caught up in the, in the weeds of managing the assets after you do your first deal. And, um, , you know, forget that these people want to be queued in to what’s going on. They want to hear from you, they wanna receive information and, and, you know, feel like they’re in touch with the deal.

Um, and it’s kind of a balancing act of giving enough information being open enough, but also not bombarding people. Um, so I, I, I pulled this one out because I think it’s. It’s just really imperative to do this. You’re gonna have to do it as you scale. So you might as well start on day one, uh, developing, uh, a CRM tool that, that helps take people from the very first interaction they have with you all the way to when there’s a deal.

And then thereafter, because there’s some big gaps there from when you have a initial interaction with somebody, it might be months might even be a year be before you have an opportunity to show them. And so you’ve gotta maintain some communication there in between and, you know, nailing down the. Um, the etiquette and, and the best practices for that, uh, something that you definitely wanna refine early, so that it’s really robust by the [00:18:00] time you get to, uh, scale.

And you’re working with people that are just effectively business relationships, as opposed to family and friends, cuz those guys will give you a little bit more slack on this. Um, if your, if your cadence isn’t perfect on the, you know, first deal or two, your brother and your sister, your mom, whatever whoever’s investing in those early deals, probably isn’t gonna call you out on it, but you definitely wanna have those things you fine.

Before you start going out to, uh, uh, the masses. There’s

[00:18:23] Anthony: a, there’s a quote from, I think it’s John Woodin, who’s like a famous basketball player and it might not be him. It might be some other FA famous basketball coach, not player. Um, who said, if you don’t have the time to do it right, when will you have the time to fix it?

And I think this is the, the mindset that a lot of new entrepreneurs, whether you’re capitalize or not, you’re just building a business with him kind of product, um, that you, you can finally find yourself in the trap of not building up the systems that will scale as you scale. And so. Then as you are building this company, as it’s becoming more complex, more robust with more people, more heads, you find yourself working harder and harder and [00:19:00] achieving less and less, um, efficiently, because you don’t have those systems really dialed in.

You don’t have ’em even like set out. And so you have a really difficult time removing yourself from the equation, but this happens, I think really quickly in capital raising. The game really is all about relationship management and, and it sounds weird to like have a systematized way to track relationships it, but that’s why it’s so important is because you probably don’t have a system already for tracking your relationships with friends and family and whatnot.

So this is new and foreign, but if you can get this part dialed in from the very beginning and start, even when you only have five people on your email list, like this is gonna help you scale a hundred percent.

[00:19:39] Dan: Mm-hmm . Is it me? No, no. It’s back on me. Oh,

[00:19:43] Anthony: geez. I’m trying to hug. I’m excited. Yeah. I’ve got some takeaways here.

I got, I got one here. It’s all about. Okay. So before I, before you make the transition from hunting to farming, you have to start laying the groundwork. Um, you have to kind of like get the fields prepared, so, so to speak. Um, and this is where Hunter’s talking about and I’m using my own [00:20:00] framework of the hunter frame, uh, hunter farmer framework.

Have we defined

[00:20:03] Dan: that for the listeners yet? What exactly a hunter is. A farmer is well, a hunter

[00:20:06] Anthony: is in the beginning. You’re gonna be going out there and like doing a lot of one on one work with your friends and family and having those conversations and trying to sell the deal. You’re pretty much picking up the bow and arrow and going out there to hunt.

And if you’re not doing that, nobody’s gonna come to you. Farming is all around laying the seeds and building the system so that people are coming to you. So you’re doing a lot of work. It’s gonna take a long time for those seeds to come to fruition. But when they do, when it’s time to go and harvest, it’s a very robust

[00:20:32] Dan: bounty.

So hunter goes out and finds investors and a farmer investors come to them. Yep.

[00:20:37] Anthony: They’re planting the seeds as their relationships are blossoming over time. But before you can like make that full transition, you have to start thinking about like your, your branding and the, the foundation upon which you’re gonna build your farm.

And so. Hunter goes into the branding 1 0 1 and he names some, he, he lists off some things that you need to have thought about or have developed for yourself and for your business before you really start going out there in like farming [00:21:00] hard. And so he says, you need to have a good company name. Agreed.

You have to have a good logo. Generally. Agreed. I actually think that’s far less important than people think mm-hmm um, he says you have to have your business cards. I actually think that’s incredibly unimportant. I will tell you this. Um, you give out your business card a whole lot. I’ve given out probably less than 10 over the last three years.

Um, I’ve been really

[00:21:22] Dan: at it, asked for my card maybe three times in the

[00:21:25] Anthony: last year. Yeah. People might ask for, I don’t think you need to spend time on the business card all that much. Um, I, I don’t think it’s gonna be the thing that holds you back from capital racing. Yeah. If

[00:21:34] Dan: you have all the other stuff you’re gonna done.

The business card’s common. Non-issue

[00:21:38] Anthony: the, the most important one is the next one, which is the website, which he calls the face of your company. And I, I agree that the website is the most important thing for your business as a capital razor. It’s where people are gonna spend the most time. It’s where they’re gonna see you.

And generally, most people’s websites are not functional. They’re not beautiful. And they’re not, they’re not. About what it is that [00:22:00] you do and why I should use you. Um, so generally people are not very good at that, but the last two he says is ha having a business email, this is huge. I can’t tell you how many people have reached out to me to try to re um, you know, with their business where it’s like, Red Oak capital, gmail.com.

No, no, no, no, go get the domain. you gotta have a business domain. I like, I’m just gonna discard you right away. If you have a Gmail, it’s a lot easier than people think. Yeah. It’s so it’s so easy. There’s no excuse, no excuse. Um, and then finally he says email signature. Like these are all little things that you just gotta, you wanna have in place, because they’re gonna add in, in the beginning you have two things that you’re trying to overcome obscurity and, um, cred.

Right. But before you can overcome the obscurity, you gotta kind get the credibility figured out. And that’s what this is all about. Like lay the foundation for credibility so that as you start to overcome obscurity, you can actually convert people. The last one I’ll throw in here. And I did the presentation at the, uh, masterclass on Monday with Jake and Gino on this one, cuz we don’t deep into farming.

So this [00:23:00] is like top of mind to actually. Is it is, it is, it is interesting how few people do this hunter. I’m calling you out. I called you out in the master class, too. Hunter. You’re not doing this. Um, but a lot of people are Ashcroft. Capital’s not doing it, Google my business. Mm. Do you even like. Do you know what Google my business is.

You

[00:23:17] Dan: familiar with it? No, that’s on your side.

[00:23:19] Anthony: okay. So Google, my business is when you go to search on Google for something, if you have claimed your Google, my business domain, or space, then on the far right side of the screen, when the search results come up, it’s gonna show your company. It’s gonna show where you guys are located.

It’s gonna show your reviews. It’s gonna show all this information. It’s free terrain. It’s super cheap to go get. And here’s the interesting thing. Why, why this is important for us is when we formed Invictus capital, there’s a crypto fund out. That had Invictus capital.com. This is maybe if you guys have ever wondered, like why don’t we have that domain?

We have trademark on capital might soon, but they took it from us. Um, we didn’t wanna fight it, but they’ve lost 80 million in the last two months and they’re going bankrupt. So we’re gonna try and get that [00:24:00] domain soon. We’ll get it. However, so for the last couple of years, when you would search for Invictus capital, we have really good SEO, but it’s hard to overcome a really big company like that.

So we would always show up number two or three on the search results. But we were the only ones who had to Google my business space. So when you Google Invictus capital, we have the free train on the right. So that’s, this is super in the weeds guys. And like, if you’re listening to this and you’re like, I don’t care about any of that, then go ahead.

Um, I’m sorry. nerding out

[00:24:28] Dan: here. No, I think it’s it’s so I think a lot of people are gonna feel that way about that kind of stuff. Unless they come from some sort of marketing branding background. They probably won’t really appreciate it. And it might take ’em some time, but they will realize at some point that they just aren’t getting the traction that they want.

And it’s because. Nine times outta 10, when, when somebody comes across somebody new that they might want to transact with, whether it be they wanna buy a product from a business or, or invest through someone or use somebody as a consultant. One of the first things they always do is they plug in the name of the person or the business into Google and, [00:25:00] you know, do that and see what comes up.

And if it’s not, uh, you know, if you find something else like a, a crypto fund or something like that, instead of you, that’s, that’s something. All your prospective investors are, are gonna come across too. So I think a lot of the stuff might seem either kind of in the weeds or, or maybe even so small, like the, the email thing or the email segmenter that it doesn’t matter, but it’s all part of the optics of, of how professional you are.

And so people are gonna look at that and say, man, if this guy hasn’t even taken the time to, to, uh, switch out of a, a Gmail account, like what else is. Skimping on there’s there’s this

[00:25:31] Anthony: great phrase, which is how you do anything is how you do everything. And it it’s true. And especially in capital raising where we’re talking about potentially raising, you know, large sums of money from people that people are gonna judge you on the details.

Yeah. You gotta get ’em. Right.

[00:25:47] Dan: Yeah. And that, I think ties in, uh, nicely to my next one here. It’s about, um, not skimping on this stuff because when you’re first getting into, uh, this business, We’re probably starting with a little bit less capital than, uh, somebody [00:26:00] who’s, uh, farther along. And so you might be trying to take the most cost effective approach on things.

And, uh, my, uh, third takeaway here is creating professional executive summaries and conducting compelling webinars, again, name of the chapter. But what I really pulled out here was, uh, how to actually execute these things well, because again, early on, it might seem cost prohibitive to spend, um, a thousand or $2,000.

Having somebody put together the, the deck for your first capital raise. Um, so you might try to just do it yourself in, um, PowerPoint, and it might seem like a good idea to save a couple thousand bucks, but when you do the math, if you’re raising a few million bucks, a couple thousand in, in creating a robust deck is.

uh, a drop in the bucket really. It’s, it’s a, it’s a necessary and relatively small cost of, of doing business. Um, and something else I pulled outta this, this chapter was that, uh, I talked about this a little bit before that for most people, when it comes to investing or, or making some sort of large financial decision, uh, a lot of it [00:27:00] comes down to emotion.

And like I said before, I’m the type of person who wants to get data and information. And so my baseline assumption really on the business was that everybody wanted data and information and the more, the better, um, but you’re glossing over a big part of what actually gets people to make a decision or a change and shift from investing in the stock market to allocating some, some capital into real estate storage, whatever it is that you’re raising capital.

You’ve gotta have an actual connection with the people that you are. Uh, you’re talking to you, can’t just say, here’s the data. Do you want to do it? Um, people need to know who you are. They need to understand you. And there needs to be some kind of emotional connection. And really the only way to, to get that is through, um, opening up and being vulnerable about yourself and why you’re doing what you’re doing.

Really listening to the potential investor and figuring out what is it that they’re trying to accomplish? What do they want and what don’t they want, what are they trying to get towards? Or what are they trying to get away from and tying in your, your deal to that. So you can’t just show up and [00:28:00] say, Hey, my deal’s got 30% IRR that might not even matter to the person you’re talking to.

They might just be trying to, um, reduce their tax liability. Not even care about what the returns are gonna be. They just wanna make sure the tax liability is really, so you gotta understand what does your investor actually want? And you need to have some kind of emotional connection. You’re gonna do this through your decks, your phone calls.

And, uh, we’ve been doing a lot of webinars for the last several days. I think. I don’t think we did. ’em on like the first. one, actually, I think it was just the first one. We didn’t do it. Uh, but we’ve been doing the webinar piece from, uh, from, from there on, and that’s been, uh, definitely a learning curve.

They’ve they’ve gotten better. And that’s something that you do not wanna skimp on. Um, obviously we’ve got a podcast studio now, so that, that helps the story here, but. You’ve got to nail down that presentation. Um, everything from body language to, um, facial expressions, mannerisms, especially when you’re going to the in person types of interactions.

And [00:29:00] then on the, uh, the webinar piece. Video quality, audio quality, the format, um, allowing for Q and a having questions queued up in case a lot of people don’t ask questions, which is very common. That’s not a good thing on a webinar reopening up for a Q and a, and it’s just crickets. Um, so being able to proactively plan for all these things and getting all these tips about how to, uh, properly do all of these very necessary steps, I think would’ve been hugely.

For us early on, like I said, we kind of gathered a lot of stuff. We had the, the benefit of somebody, um, who’s, you know, Renee Rodriguez, uh, anyone who’s listening to this who’s in the mortgage business probably has heard of him, but, um, he went through a very early, uh, presentation of ours and kind of audited it and gave us a lot of key takeaways that align with a lot of the stuff the Hunter’s talking about here.

So key takeaways is don’t skimp on the cost of putting together, uh, a robust presentation, whether it be the deck or the webinar, um, because like Anthony said, Uh, the way you do anything is the way you do everything. I think that’s the [00:30:00] quote, right? Mm-hmm yeah. Um, so don’t skip, right. If you’re raising a couple million bucks, you know, do the math, what is the cost of actually doing these things?

Well, and what’s the true cost of doing them poorly, cuz I’ve seen a pitch deck and a word doc with just some. Pictures dropped in. And, and this was from an operator’s that’s common too, by the way, really common. And this was somebody who’s got five or six years on us. Yeah. That’s,

that’s

[00:30:21] Anthony: that, that’s the thing that gets me is like how, um, poor quality generally, uh, this was one of my takeaways number.

Uh, it was my number four takeaway actually. So I’m just gonna skip right to it and add, add to take a little bit of a take on this, which is, um, When it comes to the webinar, uh, or your pitch in general, the thing I think most people are not doing and they’re not doing, or if they are, they’re not doing it enough is practice.

Like, what are we talking about here guys is practice. It’s all about practice. The more reps that you put in before you do that webinar, the better that webinar is gonna go. And so that means like literally sitting down, if you’re doing with the partners and sitting down and scripting out, who’s gonna [00:31:00] talk when, like, on our first webinar, we sat down and said, And we did this multiple times before we went live on our first one and said, okay, you’re gonna talk here.

I’m gonna talk here. This is how long it’s gonna take. And then we’re gonna move to this thing we scripted out. And now at this point, we don’t have to do that anymore because between that and the fact that we’ve pitched hundreds of times, and we spend a lot of time on camera talking, we’re very, very comfortable now just sitting in, in leading a webinar.

But until you get that, that skill, that rep like you have to put in the, the practice, because there’s when we’re talking again about hundreds of thousands of dollars. Of potential investment from a, from a single investor. They’re they’re gonna judge you based on how coherent you are, how clear the message is, how, how intelligent you sound in it.

The whole time you’re sitting there, you’re like ums, AHS, not sures. And you’re just not moving confidently through the messaging. Like you’re gonna have such a hard time getting people, even if you have the greatest deal in the world, you need the best operator. If you can’t effectively communicate it.

And, and this is something that Renee helped us a lot with because Renee was able to sit down and say, Hey, you [00:32:00] guys are great communicators and everything, but you’re communicating all. Like, and he even pointed out to us as like, you guys need to like circle back to this and you have to hit this emotional cadence and this, and that was super enlightening.

And the part that I would encourage people to, to look at here is have professionals audit your work. Like I’m not saying like professional capitals, I’m saying like professional communications, coaches, speech coaches, like Dan and I have spent a lot of money on speech and communication lessons and working with professionals who can give us feedback because.

That’s the game at the end of the day is like we’re dealing in our ability to communicate an idea.

[00:32:39] Dan: Yeah. Big time. And, and one other thing, uh, from this section that the hunter discussed, which I think kind of ties into what you were saying there about, you know, really nailing how clearly you communicate the confidence, um, the quality of the message.

Um, people are gonna be judging you on that. Something he pointed out, and this was more in line with, I think. [00:33:00] an in person, uh, presentation. And he also suggested doing, um, like investor dinners, which I think would be really cool idea and, and fun too. But you know, if you’re in an environment with where, for whatever reason, you don’t feel comfortable, uh, called out, right.

Cause if you are given a presentation in a room that is for whatever reason, like 90 degrees and you’re sweating buckets, you know, if you don’t address that people are gonna look at you and wonder why is this guy sweating like this? Like, why is he, is he nervous? Like what’s going on here is. He ski easy, what he looks really uncomfortable.

And, you know, so if there’s something like that, that’s off just called out, make sure people know here’s why, um, you know, I’m sweating. Here’s why, uh, this, that, or the other might be throwing things off, cuz otherwise people are probably gonna assume the worst, especially if you’re newer and they’re interacting with you for the first time.

So be transparent, just be honest. Uh, my next one is closing the sale, uh, taking commitments and getting the deal funded. Um, This one is, this is actually a pretty, a pretty quick one. Um, but I think it’s one that, that I pulled out [00:34:00] because I’ve got kind of this phobia for whatever reason of being salesy.

And so actually asking people, after you give them the information, you have your, your conversations with them and they, and they’ve got the information and that they need to make a decision actually asking them to do it. A lot of people, if they haven’t invested before, uh, might be hesitant to be proactive with this and reach out to you and say, Hey, I want to get, I want to do this.

Or they’re just extremely busy. A lot of our investors are very busy professionals. And so what I’ve found is. 99% of the time, if not all the time, uh, people respond very positively to you following up and circling back to them and making sure that, Hey, uh, wanna make sure that you don’t miss out on this opportunity.

Are you still interested? Right. A lot of people actually thank us for following up. When in, um, my early days, I would’ve thought that it would’ve been perceived as pushy and, um, you know, too much, but, and you can definitely go too far on this. So don’t. Pushy. Don’t be persistent. You don’t want to come off as, as desperate or.[00:35:00]

but generally speaking, if people are gonna be investing, uh, you know, 50, a hundred, couple hundred thousand dollars with you, maybe even a million at some, at some point, um, that implies that they’ve probably got a lot of things going on to be generating their income. They’re just probably super busy doctors.

For example, typically you have to follow up with doctors, uh, more than a couple times, uh, but they appreciate it right. So you’ve gotta, you’ve gotta be okay with, with making the ask. Don’t feel bad about being salesy. Um, people are gonna appreciate your proactive nature and making sure that they don’t have to try to remember do all things.

And secondarily you also wanna provide a very clear, especially for people who are newer to this, a very clear outline of, you know, once you know, somebody’s interested. Okay. Here’s what the next steps are. Here’s the timeline. And here’s what the expectations are, uh, of us as the capital razor slash operator.

And. because a lot of times the timeline is pretty tight and there is, uh, a significant amount of stuff that has to happen administratively between when somebody decides they wanna move forward. And when they’re [00:36:00] actually in there funded, and you can actually head to the closing table, especially if people are gonna be using, um, IRAs and, and things like that, where they have to go through a third party to facilitate the transaction.

Maybe they need to, uh, move some money from. Uh, the stock market, their brokerage account over to somewhere else. Right? There’s a lot of stuff that typically needs to happen for a large transaction. And so you need to make it clear for people. Okay. Here’s the timeline. Um, and here’s all the stuff that needs to needs to happen because most people are not gonna intuitively know all the steps that need to take place.

So the more you can make that as clear and concise and easy as possible, and try to remove as much friction from that PO that, that, um, process as possible. Uh, the better everybody’s experience is gonna.

[00:36:42] Anthony: yeah, the, uh, the thing on the, the follow up, that’s really, uh, one of the best pieces of a advice I can give anybody that’s thinking about like trying to raise capital or sell anything.

Is that never assume that the answer is no. Like when you don’t hear anything back from somebody it’s very easy to just jump to the mental place where, oh, [00:37:00] they looked at it, they don’t, they don’t wanna do this, but if you look at it through a different lens and say, I’m not gonna assume this is no, until they tell me.

and when they tell me no, I’m gonna use that as an opportunity to get feedback and say, Hey, depending on how you handle this, you can turn people off. It could be very uncomfortable. Um, if you’re following up too much and you’re doing it too aggressively, so you have to use, you have to use some, um, some common sense here and some, uh, social etiquette.

But if you’re reaching out and saying, Hey, I just wanted to make sure that you saw this thing and see if it was a good fit for you. And if not, like I just would love to hear, like, what is it about this deal? Um, that’s not a good fit for you, right? And that, that can tell you a lot. They might be like, oh, you know, actually I just, I just invested in something else.

I don’t have any money. So that’s helpful. Or it’s like, actually I didn’t really like the way this was underwritten. I didn’t like this neighborhood. I didn’t like this thing or that thing. And that can help you collate some information. And so you’re not just asking them to give you a no it’s actually, because that can be very uncomfortable.

Like nobody likes to just say no, but if you give them an opportunity to say, Hey, can you just [00:38:00] gimme some feedback on what’s not great. What’s not a great fit for. Right. That opens the door for them to give you feedback, to give you some insight that you can use to improve the offering in the future.

Also, you’re gonna walk away having a better data point for your investor. Like why did they say no? Why weren’t they interested in it? Because nothing’s more frustrating than looking at your investor list of like 50 people or a hundred people, 200 people who said, oh, we’re interested. Show me your next deal.

And then you show them the deal and they don’t jump in. And you’re just like, oh, did did the deal. And in most cases, it’s not that it’s usually a timing thing. The pro the person probably just didn’t have the money at the time or two. They didn’t ever see the. like he sent the email, you might have sent it multiple times.

they might have opened the email. They might have looked at the marketing package, but they never actually dove into it. Like this was just driven home for me this week where I followed up with an investor and was like, Hey, just wanna make sure. Cuz you mentioned that you were interested in it and, and this was weeks ago and he is like, oh yeah, thank you.

Because I totally forgot. Like I’ve, I’m meant to dive into it this last week. [00:39:00] I’m gonna do it today. Couple hours later. He’s like, I got to it. Awesome. I. Um, so follow up, that’s where the magic

[00:39:06] Dan: happens a hundred percent and it’s, it’s amazing these days, how quickly emails will just get buried. Right. I I’m very guilty of this, myself things I’m very interested in.

They land in the inbox, they say, okay, I’m gonna get to that later weeks, go by. And it’s like, oh shoot, where is that? Well, now I have to actually search my inbox. That’s gonna take time. And it, the can just keeps getting kicked down the road. So in those instances, it’s, it’s actually very helpful for somebody to follow.

And put that right at the top of the inbox again. So don’t be, don’t be scared to do it. Um, I’d say maybe 1% of people might be turned off by a follow up 99% of the time. You’re gonna be good. Uh, my last one is really what

[00:39:42] Anthony: you try and jump me. Is it still I’m on number three. I’m all right. Actually I I’m on number four.

sure. Try and jump me. Okay. Okay. You go. Yeah, here. Okay. So now we’re officially in the, the farming phase and I’ll try to keep this correct, cuz I know we’re, we’re getting to towards the top of the hour and at a certain point, we’ll have no longer saved you [00:40:00] time. You could have just read the book. So we’ll try to be a little bit prepared.

Um, So the farming is all about creating a content generating machine. And this is the most important part because when you’re creating content and you’re leading with education, you’re putting out value into the world. Each one of those, like this podcast is another seed you’re potentially planting into your field.

The more seeds that you plant and the more that you water, then the more likely that you’re gonna have a bountiful harvest at the end of the year. And so just three things real quickly I’ll point out is that there’s, there’s really three ways that you can communicate to the world. You can do it through text, you can do it through audio.

You can do it through video. Figure out what you’re the best at and do that thing in the beginning until you get so good at it. It that it’s easy. It doesn’t take time and then you can start adding the other ones. In, in the beginning, we started with blogging and articles, a lot of social media posts, and then 2020 happened.

We had a lot of time on our hands, so we’re like, well, let’s get good at this podcasting thing. So then we started doing a lot of podcasting. Got pretty good at that. And then we’re like, Now we’re pretty good at video because as a result of talking, now we can sit on top, uh, in front of [00:41:00] a camera. Um, may maybe not always well, but we can do it.

And for most people that’s the hardest part is just doing it. So, um, now we have a YouTube channel. Now we have a podcast. Now we have a book. So now we’re spread all over the place. We have seeds everywhere. Um, but when you’re first starting out, you have to figure out what you’re good. Do that thing and do a lot of it.

And that’s the thing I think people, um, are missing is when you’re planting these seeds, realize it’s probably gonna take a year or two years, maybe even three years for those seeds to finally sprout. But when they do, you’re gonna be really, really thankful that you were consistently like planting seeds throughout that entire period.

Now we’re how many episodes we had. This is like two hundred and sixty, fifty two forty nine. Yeah, we’re almost at oh 2 49. Yeah. Dang. We’re hitting two 50. Oh, we gotta do something special for that. That’s crazy. That’s awesome. So. That’s a lot. That’s a lot of content. That’s a lot of seeds. And so that’s, that’s the, that’s the magic to becoming a farmer is putting out the content and then allow like making yourself, making yourself [00:42:00] visible so that your ideal perfect investor can find you resonate with you and then reach out and do work with you.

[00:42:08] Dan: Yeah, and you’ve gotta, you know, just kind of push aside whatever your personal preferences are with that kind of stuff. Because I mean, we’re on TikTok now and I’ve told myself I’d never wanna have TikTok, but I mean, if people are on there and we wanna make sure that we’re accessible to all of our potential, uh, partners, then we’ve gotta be there.

Um, so I might not be a consumer of TikTok personally, uh, but it makes sense to make sure that you are as available as possible. And really the only way to get good at it is to get the reps in. Um, so you cannot, you know, it doesn’t matter who you hire, uh, how much you practice beyond the scenes until you actually start recording and producing and putting it out there.

You’re not gonna get good. So just be okay with sucking on the first for a long time. Yeah. For the first several, um, Instances of whatever it is. You’re producing podcasts, short video clips, tos, all that, [00:43:00] all that

[00:43:00] Anthony: stuff. I, I would say for us on the podcast front, it probably took us until about 50 episodes in, and this has probably been like eight months before we were like really in a flow and comfortable with it.

[00:43:10] Dan: Well, yeah, we got better. And then it wasn’t until that point that we could actually like look at some data and figure out, okay, what do our, what are, what is our audience actually like, like what’s getting the most views downloads, um, like looking at the stats and seeing which. Um, types. Yep.

[00:43:25] Anthony: You guys love cash out refinances.

[00:43:27] Dan: It’s great. Apparently. Yeah. Um, I mean, they’re great. I love ’em too, but, but yeah, it’s really insightful to figure out, okay. What’s actually getting the most eyeballs or the most years and diving into that because we used to do a slightly different format. We did a lot of interviews and then figured out that, you know, that actually.

People just weren’t really responding as much. They apparently just love us so much that any other person was a distraction. At least this is what I tell myself. I know that.

[00:43:48] Anthony: Well, I think, I think part of it is that in a lot of cases with interviewers, they’re telling the same story over, over and over when they go to all the different podcasts.

And so it’s not necessarily a lot of value. And, um, in a lot [00:44:00] of the people on podcast interviews are not very. Not very entertaining. Like, so the conversations were, are strained sometimes. And that’s, mm-hmm, your quality as an interviewer matters a lot. But I came to realize, like, I don’t wanna be a great interviewer.

I, I just wanna talk about real estate and I don’t want it to be awkward.

[00:44:17] Dan: Um, yeah, so we’ll have guests on, but it’s only with people that we know we can just have a really good conversation with, because that’s why I think people. They wanna be a fly on the wall for a great conversation. They don’t want to hear somebody read the same script of, of, uh, boiler plate responses that they’ve read on every single thing.

They’ve

[00:44:36] Anthony: yeah. And the other part with the interviews, I’m just harping on this one for a second, because what I came to realize is like most of the podcast, I do a lot of guest episodes. Like I, and you do too. Like we’ve been on hundreds at this point of other people’s podcasts in a lot of cases. It’s the very first time you’re ever talking to that person.

Mm-hmm . And so they’re having a discovery call with you in real time, which means you can only go so deep yeah. In the conversation, as opposed to like, when [00:45:00] we bring on, uh, Mac and Johnny, like we know these guys really well. We did a podcast episode with them a couple months ago. We can, we can banter and we can go deep because we know we have a lot of history with them.

So we get to the good stuff. The quality of the episode’s just so different.

[00:45:12] Dan: Yeah. That’s why I refuse to prepare if I go on a podcast, I don’t wanna know questions. Yeah. I don’t know. We’re gonna talk about I’ll I’ll check out, uh, an episode to make sure I get an idea of what. This, person’s kind of like if I don’t already know him, but I do not come in with any idea of what the questions are gonna be, because then I feel like it’s just, then I’m inclined to try to plan something out.

It’s ends up sounding scripted, scripted. So, yeah. Uh, my last one, I think it’s my turn.

[00:45:39] Anthony: Yeah. Yeah. You

[00:45:39] Dan: can go this now. Uh, my last one is going all in versus making excuses. Um, and I think this might have been actually the last chapter. but I pulled this, uh, section out in particular because I thought it was a really great kind of mindset, uh, pointer for probably anybody, whether they’re new or advanced, because I think we could all kind of fall into this trap.[00:46:00]

And that is, uh, don’t compare yourself to others who are outperforming you, uh, by making excuses and saying, oh, this guy’s successful cuz of X, Y, Z. And, you know, that’s why, and, and try to dismiss them for, for whatever reason. Um, it’s very easy to do that. Sometimes when you see somebody that on the surface is maybe newer or younger, or, you know, not quite as experienced show up and just start killing it.

A lot of people will look at that type of thing and, and kind of a hater and just be like, I’ll screw him. He’s doing the X, Y, and Z. And that’s why it’s, it’s, he’s successful. It’s not because of you. You you, the point is that you might not, you might miss a learning opportunity by dismissing someone’s success, uh, because you are intimidated or jealous by.

Uh, whereas if you looked at it through a lens of, of inspiration, you might dig in and find out, okay, why are these guys successful? Maybe it’s cuz they dialed in the, the content generation piece earlier. And I didn’t [00:47:00] maybe it’s because my pitch deck and my webinar blows and theirs is incredibly robust.

Like if you don’t, if you dismiss people because you’re feeling jealous or, or whatever it is, that’s going on in your head, you’re gonna miss the opportunity to learn from what is making them success. So it’s, it’s a really important mindset thing to, to have, because I fall into this trap from time to time.

There’s, you know, someone in particular right now, who’s, grinding my gears. That’s putting out a lot of content that I, I’m not gonna go into it, but, um, I’m dismissing it because. Um, I know the guy and it’s, I, I think it’s, it’s silly. Uh, but every other time, if I see somebody who’s killing it and it throws me off and I’m wondering why they’re, they’re doing better than us.

I try to come in with an open mind and say, okay, why are they successful? How can I learn from them? As opposed to just being jealous and turning into a hater

[00:47:55] Anthony: I would even say, like, not necessarily that they’re doing better, but that they’re doing [00:48:00] something that is eliciting some kind of response of like, oh, why, why I want that we want that viewership, or we want this thing, or we wanna be able to acquire that property. Like whenever you see something that it elicits like envy or jealousy, instead of like, Wallowing in that, ask yourself because they’re doing something different, maybe not necessarily better, but they’re doing something differently.

Mm-hmm and you can, if you, theoretically, if you were to do the same thing, could you achieve the same result? And there’s, there’s always something to be learned from success, success leaves, clues, and it doesn’t just happen. Even though sometimes it seems like, oh, that person’s undeserving of this thing.

Um, they just got really lucky and it’s like, okay, well, what, what put them in the way of luck, because most people don’t just like get struck by a luck lightning bolt. So mm-hmm, the, um, I agree with this, all the, the, the last takeaway, and then we’ll get outta here so we can save some of your guys’s time and you can get back to your day is, um, there’s a really good section in the back of this book around frequently asked questions, the major.[00:49:00]

Complaints or issues or concerns that passive investors typically have. And one in particular that I don’t think it’s talked about a lot, but I do find it really useful cuz it’s in this book is the talking about U D F I and UBI taxes, or specifically around when you invest via your self-directed IRA.

These are taxes that are applicable within those vehicles. And it’s a very nuanced thing that most investors and honestly, most operators are not well versed on. And so. I, I just really respect that this book actually, doesn’t just gloss over, like, and stay very high level, but it actually gets really into the weeds on some really nuanced topics.

That again, if you want to be an expert, you have to know this stuff. And it’s very clear when people don’t know this stuff because as you’re talking to them, uh, they’re just not, they’re not talking confidently or from a perspective of experience. And so that’s, if nothing else, the frequently asked questions in the back of the book, I think, could you just go and dive into there?

It’s gonna help you level up your. Hmm. I agree. [00:50:00] All right, everybody. We did it. That is raising capital for real estate. Is your new favorite hunter Thompson book, fear and loathing goodbye. The great white shark. That was, that was another one, right?

[00:50:12] Dan: I’m not sure. And fear loing is what I know. I’ve never read any of his books.

Oh really? Oh, okay. I’m aware of too. Watch Johnny, Deb. Yeah. I’ve seen the movie obviously, but, um, I’m aware of who he is. I’ve I’ve seen him in a lot of interviews, um, but I’ve never actually picked up one of his books or read an article or anything he’s written.

[00:50:27] Anthony: Well, now you won’t have to pick up this hunter Thompson’s book because you’ll have everything that you need.

And remember that URL that I’m gonna have set up by the end of the, by the time you’re listening to this in Vic and. Test me if you’re listening to this right now and you’re like, I don’t believe it. go to Invictus, multifamily.com/notes. If that link does not work, I want you to go to iTunes or apple or wherever you’re listening to, uh, Google Spotify and leave a review and be like an Anthony is a dirty filthy liar, but also leave a five star review.

Um, everybody will know what you’re talking about. Well, [00:51:00] you better get that site up. The site’s gonna be up so you can use that to then again, that link isn’t just a link to nothing. It goes to a Dropbox folder with 15 sophisticated investor notes of all the books that we’ve done. Deep dives on, uh, quick little beautiful infographic that has all the takeaways of this book.

So go check that out. Um, And that’s that’s, that’s literal. That’s literally it guys. That’s all I got. I’m I’m I’m done. I’m over it. I’m gonna go back to bed. I’m empty. Yep. Is this still morning? How we

[00:51:28] Dan: feel all day’s halfway

[00:51:29] Anthony: to lunch. All right. I’m gonna go eat things to do. Uh, you guys have other better, uh, things to be doing with your time now.

So get to it.

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