MB 250: The Best of 2020 on Apartment Building Investing

We’ve always said that multifamily is recession-proof, and 2020 gave us a chance to prove it. While the stock market and other asset classes suffered in the pandemic, apartment buildings continue to provide steady cashflow and a safe place to keep our money growing for the long term. So, what can syndicators do to get this message to more people and build a successful real estate investing business? On this episode, I’m sharing the Best of 2020 on the Apartment Building Investing Podcast, beginning with last year’s biggest news—the Coronavirus pandemic. We revisit Drew Kniffin’s thoughts on the risk COVID poses for passive investors, Drew Whitson’s take on why multifamily is still the strongest asset class in real estate, and Russell Gray’s insight on how to protect your wealth in a crisis. We look back at my conversations with Pat Flynn and Amy Porterfield on marketing to investors online and my interview with Gino Wickman around what it takes to be a successful entrepreneur. Listen in for master deal maker Garrett Lynch’s insight on choosing the right market and get inspired by BiggerPockets VP Brandon Turner’s approach to achieving BIG things with tiny action. Key Takeaways How COVID is likely to impact passive investors in multifamily Unless already run poorly, virus won’t bankrupt property Much better option than stock market (30% paper loss) Why multifamily is still the strongest asset class in real estate Performs well through economic disruption Office buildings, retail and medical suffered in COVID What makes real estate a solid investment (even in a crisis) Fits criteria of being both REAL and ESSENTIAL Governments support housing, energy and healthcare What to look for in a multifamily real estate market Resources available to operate and steady dealflow Population, job and overall economic growth Who should consider building a thought leadership platform EVERYONE can build personal brand online Place to announce, connect and prove authority Why an email list is more valuable than social media followers Algorithms change, you don’t own social platforms Email list = YOUR asset for growing relationships How to choose the right lead magnet for your audience IRRESISTIBLE piece of free content (trade for email addy) What avatar needs to believe to do business with you The eight critical mistakes most entrepreneurs make Not having vision Hiring wrong people Not spending time with your people Not knowing who customer is Not charging enough Not staying true to your core (shiny object syndrome) Not knowing your numbers Not crystalizing roles and responsibilities The eight disciplines for increasing your chances of success Clarify vision Decide if you’re ‘partner person’ Bigger problem = more success Get feedback early and often First plan will not be final plan Work hard (really hard) Take criticism with grain of salt See it every night The two kinds of ‘partner people’ in entrepreneurship Equal partners Give equity but maintain controlling interest Why it’s crucial to have a clear vision for your business Know where you want to be and take next tiny step Ask what’s cool and write as if you’re already there Connect with Drew Kniffin Drew at Nighthawk Equity Drew on LinkedIn Connect with Drew Whitson Drew at the Michael Blank Mentoring Program Drew on LinkedIn Connect with Russell Gray The Real Estate Guys Russell on LinkedIn Connect with Garrett Lynch Garrett at Nighthawk Equity Garrett on LinkedIn Connect with Pat Flynn Pat’s Website Pat at Smart Passive Income Connect with Amy Porterfield Amy’s Website Marketing Made Easy Podcast Connect with Gino Wickman Entrepreneurial Leap Entrepreneurial Leap: Do You Have What It Takes to Become an Entrepreneur? by Gino Wickman Connect with Brandon Turner Open Door Capital BiggerPockets Podcast The Book on Rental Property Investing: How to Create Wealth with Intelligent Buy and Hold Real Estate Investing by Brandon Turner Resources Drew Kniffin on Apartment Building Investing EP208 Drew Whitson on Apartment Building Investing EP228 Russell Gray on Apartment Building Investing EP226 Garrett Lynch on Apartment Building Investing EP231 Pat Flynn on Apartment Building Investing EP210 Amy Porterfield on Apartment Building Investing EP212 Gino Wickman on Apartment Building Investing EP243 Brandon Turner on Apartment Building Investing EP221 Bryce Stewart on BiggerPockets Podcast EP276 Vivid Vision: A Remarkable Tool for Aligning Your Business Around a Shared Vision of the Future by Cameron Herold Find Out More About Deal Maker Live Learn More About Michael’s Mentoring Program Register for Michael’s Platform Builders Workshop What’s the Best Investment: The Stock Market or Real Estate? Podcast Show Notes  Michael’s Website Michael on Facebook Michael on Instagram Michael on YouTube Apartment Investor Network Facebook Group Email [email protected]