Investor Strategy Call – November 24th, 2022









[00:00:10] All right. Hello, Richard. Hello, Richard. How’s it going?


[00:00:20] Hello. Very good. Thank you, sir.


[00:00:23] Yeah. Today’s today is really peaceful. We just had one person that quickly. So, I mean, we have a lot of time to help you out here.


[00:00:31] Sorry.


[00:00:34] Okay. Yeah, well, I’m sort of finishing up dinner and working through, as you saw the support email on the questionnaire that I didn’t need to fill in. And so I’m just stepping through it piece at a time.


[00:00:55] Oh, excellent. So then that one let’s yesterday was a lot of support tickets. So let’s see for years again. Okay. The customer avatar. I guess we might as well go. I think it’d be productive to go through that right now.


[00:01:09] Let’s go through that. Okay.


[00:01:14] All right, just a second while.


[00:01:15] I dig it up.


[00:01:20] I’ve written them before for other businesses. And so now it’s just a matter of what and I really don’t not 100% sure on the right answers. So some of it I had to guess on but people I’ll figure out what they’re what their buttons are, what their motivations are.


[00:01:43] Yeah. No, exactly. I mean, and everyone, like, you’re going to see, like, I mean, we have our own kind of nerdy version of it, but that’s all it is, is just a guess. Like is to have a guess on what the market is this a scientific process? Right? And just guess like who they are, like what they believe in and everything. So let’s. Okay. Which is really important. Okay. All right. And yeah, we can really I think we can actually this will actually be really useful, so. Okay. And this is for the Refco Fund LP. So drop position.


[00:02:26] Yeah, it’s for value added multifamily apartment invest.


[00:02:35] Okay, got it.


[00:02:41] So, I mean, I think. Remind me the minimum check size again. And I can I can dig this up. But if you have in your memory the minimum checks, I think it was like 250,000 or something, right?


[00:03:01] 100000 No. 100.


[00:03:07] Okay 100. Got it. When I see this is just my feedback, you can take it or leave it. But this is just what I think is mainly like, I think CEO. See. You may get you may get some people that like co seems really broad because you may get like I think it’s like if it’s CEO of. Like we can just go on LinkedIn right now and check because I think if you say CEO of, for example, a general partnership or a limited partnership or whatever, then yeah, then you convert. But if it’s the CEO in general, then you may be a bit broad. Let me just go in Sales Navigator. So if it was me, I would also add in. What I did in limited partner. As an.


[00:04:05] Example.


[00:04:07] Because I’m going to assume somebody who’s a limited partner already is a limited partner in two other deals. And so they may if they’re not investing, they may introduce other people. So this type of.


[00:04:19] Limited partner, for example, this leads. Cuts. Job title. Currents include.


[00:04:59] Yeah, because this is this is an okay one because it’s this to filter out. Because if you type in limited partner, you see so many. People that are invested. The only thing is to remove all these small angel guys and then to find like serious, limited partners that are into real estate. So I would say like a limited partner for sure.


[00:05:21] What else.


[00:05:22] Here? I think that would be okay to test age.


[00:05:27] Yep.


[00:05:29] I agree with this. Values. Hobbies. Interests. Values.


[00:05:32] Hobbies. Interests.


[00:05:36] That’s just the list of what should be in the psychographics.


[00:05:40] Yes.


[00:05:41] So then I detailed each one of them out.


[00:05:44] Yeah, I definitely agree with many of these. I would think a lot of them are more right leaning. I would definitely think a lot of them are more right leaning. But yeah. Politically speaking. I agree with this. Yep. Financially secure for one year productions. Yeah, I get this. Actually, I get this objection myself. Yeah. Get this one.


[00:06:16] I’ve been getting that objection. And I just told somebody this morning who said, I’m a real estate attorney. I said, You dice it down into the type of real estate, and then the price ranges are the brackets and then evaluate the brackets to see which ones are doing well and which are.


[00:06:35] Yep. Yeah.


[00:06:40] As an example, back in 2018, the 750000 to $2 Million working executive homes here in New Jersey, you could pick up for half off. But down in the median price range, they were hot and multiple contract offers. So, I mean, you just can’t just generically say the market’s hot.


[00:07:03] Yeah, exactly. And I think, too, it also depends on the strategy and the fund, because some people right now, they’re doing debt funds. And debt funds are perfect for this type of environment.


[00:07:14] So which is a difference of a deal that makes sense. And it’s also the segments. So the only thing that makes sense, the only thing I’m questioning, too, is.


[00:07:22] The people who don’t. So, I mean, if somebody has like 100 kids who invest, I think wouldn’t they know what a syndication is by that time? Same with Fund. Or or have you actually seen. I’ve seen a few people that were rich and and they didn’t know these things. But what do you think?


[00:07:46] I’m sorry. Say that again.


[00:07:48] Yeah. So I’m just questioning these two pieces because when people write the 100,000, like they’re investing 100,000. Do you think that they there will be they won’t know what the syndication or a fund is, because here I think they’re a bit more sophisticated.


[00:08:05] Right. Or what do you think?


[00:08:07] Well, when I talked with people when I was in corporate America, nobody knew about real estate other than all that takes a lot of work. And I don’t have time. It’s it’s I work here 9 to 5. What can I do? Go out and see a contractor in the daytime. So my experience was the C-suite people, they know the concept of real estate, but not. Any more. The. Now. They don’t know the difference between syndication or or fee simple ownership or what.


[00:08:44] Okay.


[00:08:46] So I was thinking of in the in the customer data room on have different parts X explaining what is a syndication, why what is what and why syndication for you, the working executives.


[00:09:07] Yeah. I mean, that can be productive because I think there are some people that would just go because whenever you like, explain things for people that like you can never be too basic for people, right? Like you can never you can explain something or be over complicated or it gets.


[00:09:24] Over.


[00:09:26] You can you can confuse people by being by basically having too much technical things and push people off. But you can never push people away by being too simple. So I think it can be good. I think it just like if it’s like an investor that is more of somebody who is looking for like, you know, these ultra high doctors because we have somebody who’s working on raising.


[00:09:46] Them.


[00:09:47] For the medical fund and they’re paying like I think, 5000 either a week or something on Facebook to get investors into the fund for ads. And then the investors are very they’re like doctors. They don’t know anything about real estate or about medical deals or anything, but they’re just doing it so that they can. So that they can just put the money somewhere and not worry about it because they just have so much money that they don’t know what to do with. You know, I mean, that kind of thing. So I think, yeah, for those folks, this may that may be good. But I think for the people that are the insiders in real estate, you know, then it’s kind of redundant. But so it depends on whether during your marketing efforts you’re going to also target. Just an investor that wants to put his money away passively, that doesn’t know much about it versus the one that is an insider and then wants like an existing limited partner, for example, and then wants to jump in. So I think it depends on that too.


[00:10:42] Yeah, well, what I’m thinking of on the Web web page is a link for what is a syndication. And if they don’t know the click on it, if they know, they don’t have to click on it. And the other thing is, is I would dice it down to a separate customer avatar for like. You know, accredited investor who doesn’t know. Or accredited investor who who’s already a limited partner.


[00:11:16] Yes.


[00:11:17] And then the experience, limited partner, one would say, yeah, I’m looking for this, this and that and real estate investment syndication for it versus a new one would say, I don’t know what to expect. It’s like, well, we’re going to compare and contrast. If you do a fix and flip versus a syndication value add. And so what this means to you is you’re busy at work. We do all the work for you. You still get 18% or better is the target yield for properties to qualify. If you do a fix and flip, you can get anywhere between 20 and 50%. You might earn more. But. It takes you so many hours a week to do that. And so if you want to get a higher yield, yes, you can work two jobs.


[00:12:17] Yeah. And so one thing that I’ve seen is like, I think for the you the only thing I guess my only, my only kind of not kind of like a concern is like a lot of the folks that, that you know they take a while to warm up and be educated like some of them sometimes like we saw it for other clients, like their check sizes could be like 50 K or something like. And for like because your fund is pretty big, it’s like 100, 100 million. So I’m thinking like. Like once would be easier if you just focus on like a.


[00:12:50] Large.


[00:12:51] Larger investor that is like super experienced because sometimes like these investors that are.


[00:12:56] Or more.


[00:12:58] You’re educating them and are more kind of you’re more teaching them and they’re more newbie sometimes like their check sizes. Like it’s hard for our check sizes to be as big if you’re marketing to them, if they’re just getting into this for the first time versus like, I’m just thinking about 100 million and how big that is compared to some of the investors are more newbie. What are your thoughts on that?


[00:13:24] Yeah.


[00:13:26] My thought is, yes, it would be easier to go for the big hits. And I am working on the big hits with family offices through another consultant financial advisor. But. I’m thinking. And yes, there’s going to be several avatars and several marketing focuses on, let’s say, experienced accredited investor, institutional investor, family office. And maybe I need a little definition in between, but. And then what is their decision point? What is their what are their psychographics to reach different psychographics. And I don’t know what those others are. I am more familiar with the C-suite. I worked with them for like well over 12 years, directly with them. But yeah, it’s I just started with one. I mean, if you say it’d be better to go for. I mean, the reason I didn’t go for family offices was I was told. And I learned that, well, they look for a data room, they look for investment history. They look for two, one, two, three, four years of of investments to look that you’ve done. And I said, I don’t have that. I had a brokerage house in New York City say, you know, give us access to your data room so we can look at your investment performance. And I’m like, Oh, yeah, we’re busy now. I’ll get back to you in six months.


[00:15:04] Yeah.


[00:15:06] Because we hadn’t settled on the first property. So I’m like, I’m not going to say that. So I’m like, Oh, we’re busy now. We’re focusing on closing three properties. We’ll get back to you when we can do that. So meanwhile, I’m working on setting that up. It’s still going to be a baby three months old. It’s in the early stages of of of CapEx. Renovations, but nonetheless, we’ll start to have it.


[00:15:37] Yeah. No, no, no.


[00:15:40] Oh, sorry. Go ahead. I don’t want interrupt.


[00:15:42] I was going to say, that’s why I didn’t go to family offices first, because they could just write a check for, oh, you know, 10 million here, 50 here. But then the consultant we have, he says I have it in on a number of family offices, and you don’t have to have a track record.


[00:16:01] Okay.Okay. I find that hard to believe, but we’ll find out. So anyway.


[00:16:10] Yeah, we’ll see. And so, yeah, because.


[00:16:15] The thing the more newbie folks like the CEO is that you’re familiar with, you’re going to have more of a I’m going to call it status, delta or experience or basically, you know, something that they don’t know when it comes to these real estate investments. So it’ll be easier to it can be easier to convince them into it’s. And so sometimes like people who do online, like your websites and then online advertising and things like that, they work like with their other members who are spending money on Facebook ads and Google ads to get investors in like, like a mirror, for example. And it’s fun. He raises, I think every month he was raising like I think 220,000. And then there was another fellow he paid 8000 to raise, like I think 600,000. Sometimes the returns are really great depending on how people do it. But the point I’m making is the sophisticated investor, they don’t really get excited about all the marketing and all the the things like that. It’s more of like the we see that more of the those newbie investors, they get more enticed by that. And if you only focus on the family offices, the risk are the big investor is the risk is that You may be missing out on time and cash because there’s a lot of capital you can raise in small tranches anyway in that time that if people only focus on getting the big deal done and then maybe they’re like four people in a year and then one of them closes or all of them say, no, you know, that’s a lot of time wasted. Whereas you could have been raising maybe like 4 million from like a handful of like smaller people, you know what I mean? So I think I definitely think just to get the ball rolling, you need to do something with anybody. And and I think like to do both is good just so that you’re not because some people the focus in the big guys and then you know sometimes the big guys don’t come through because you’re overdependence and there’s not enough data and you only depending like four or five.


[00:18:10] Huge check investors, which is really I think it’s it can be risky if you’re not doing both at the same time, to be honest. So I think it’s a good to do both.


[00:18:21] Okay and to give you. So, I mean, while we’re sort of sidetracked on this to give you an update. I did I did interview with the VA last week. I started her this morning. I gave her a list of user IDs and passwords on all the social media that I have and I. I got. Through another source. What’s it called? It’s a white label version of Go High level.


[00:19:08] Yeah.


[00:19:09] See our marketing tool, CRM. And she’s familiar with Go high level. It just has that group’s white label brand on it. So. She’s just getting familiar with my pitch deck, the concept of value add multifamily and the structure of the financial structure of what we’re doing. And then she this week plan to update the social media. So I said, Let’s ride it out. That’s why this this customer avatar is timely. Let’s write it out and then update all the LinkedIn, Facebook, Twitter, my website, and then we can then we’re ready for the next step.


[00:20:03] Awesome because we actually we actually saw a note because one of the decoders was going to send you an update because you said on your form that you need a website built. And so we actually yeah, we have, we have a referral program. We send people over to go high level because we have a template that some of the members use to set up their, their funds or the website for the funds at least a little funnel. So is that something that you need as well? Because some people, they use those.


[00:20:29] So yes, because I mean I have an existing website, but it’s just a template. It’s like it’s my domain name of my company and it’s just literally three pages, you know, landing page A Who are we and a contact and that’s it because I left it purposely generic until I knew exactly which direction I was going in. So basically and it’s in GoDaddy and it uses the the Web publishing tool.


[00:21:07] Also, it gives us.


[00:21:10] I forget the name of the tool. But the typical web editing tool.


[00:21:18] Okay, Got it. So it sounds pretty, pretty basic. Yeah, definitely. I mean, our goal high level template is not really any we don’t have any magic going on either. It’s really basic. The only reason why we think it’s useful is just because the goal high level. So you’re probably familiar with Karen Lee and and Howe and all these CRMs where you can text people like, I mean, go eye level is amazing because you just combines everything. You have the calendar, you have the email automations, you have the text automations. So basically there’s one page where it’s like the same thing, like, here’s a fun name, who we are or a team, what we do or mandate or investment focus. And then there’s like a button where people click to basically just book a call email and no magic. And then after that goes to a thank you page, and then that’s it. Very like very rudimentary. So we just have that. But then the reason why we have it is so that people can have their email automations and all that underneath one thing. And as you said, there are a lot of VA’s that they all know go eye level anyway. So yeah, then they can just do some small kind of follow up and call some of these folks because if you’re doing a five or six seed, you’ll be able to advertise or just publicly put put it out there that what you’re doing and do, press releases and stuff. So yeah, I think, I think a high level is probably the best thing you can do to be honest for this. I did most profitable price.


[00:22:41] Hmm. Okay.


[00:22:44] Good.


[00:22:47] Awesome. So. Okay. And then where are you getting the list? So the list of the of the investors, where are you getting them from exactly.


[00:22:55] Well, I was going to come back to you and say you have done the next step.


[00:22:59] What’s next?


[00:23:01] Okay. Yes. So right now. Yeah, I think the last thing was the because I remember it because that’s the thing with having more of a tight group. I remember more things for people. So I remember there was like I think a limited partnership agreement or operating agreement that you wanted to get access to. And so we’re just making a draft copy of one of those and send that over. But then after that, it’s basically to. Just do some warm intros. So after the warm intros, if we clicked on that button already, which I think you did, then it’s to reach out to the list. So we have a few lists.


[00:23:36] Okay.


[00:23:37] And yeah, we get the VA.


[00:23:39] To.


[00:23:42] Follow our instructions in calling the list and kind of qualifying them, vetting them so that we can see what they say. And so all the instructions are here. So we just send this off to your assistants to do and then to log into your accounts, to go into the list and then start calling and booking appointments. And that’s pretty much the next step there.


[00:24:08] Okay. Here, let me get there. Raises. Duplicate. You said raise the dot com vsop.


[00:24:39] E close v a sup.


[00:24:47] Whereas Chet’s.


[00:24:56] Okay. There we go. I got it.


[00:25:01] Beautiful. Yeah. So. Yeah, everything is pretty detailed. So let me let me know if we should go through it now and say a lot of stuff in there. But that’s pretty much the whole process there.


[00:25:23] This looks like when we’re done updating all the social media sites.


[00:25:28] Yeah, exactly.


[00:25:30] Okay. Okay? Yeah. This person specifically skilled in and website development and and familiar with raises dot com was brought in through your referral.


[00:25:51] Okay, cool. And this was this was the virtual guru’s folks, right?


[00:25:57] From her.


[00:25:58] Was this from Jell-O or from Jell-O? Yeah. No, Jell-O. Jell-o is really good.


[00:26:06] You know.


[00:26:07] She’s really like. It’s the best. Honestly, it’s the best country outside of the US And Canada for this type of thing is just ridiculous. The profits people are making. So, yeah, just let me know and then just let us know if there are any issues. Because. Because within the first one or two weeks, like, sometimes you get somebody exceptional, but then sometimes like it’s hiring, right? So sometimes you have to switch people out.


[00:26:32] So yeah, I understand.


[00:26:34] Yeah. So just take a look and then and if there’s anything, then you’ll be able to swap them out pretty quick. All right, cool. So I think that’s it. And then, yeah, basically the next step is just we have these databases that we’re updating and cleaning, but then, yeah, this is really just going on Google Docs. We have this join database and it’s just to start hitting the market whenever the time is right though.


[00:26:58] So okay. Yeah, Yeah. So I’m focusing on I guess we didn’t finish the. I know. We got sidetracked. Finished the so the Avatar. Avatar. But that and then. So anyway. So we could finish it. And then. So this feeds into how and how we direct.


[00:27:27] Maybe. Yeah.


[00:27:31] Yeah. No, I mean in agreements. And I think while we’re here. You know what I think let’s, let’s quickly look at so this is we can just have one for the the newbie, the the more inexperienced C-suite person and then I can quickly make one for the the more experienced type of limited partner is already into a bunch of deals. And so I’m just going to make a quick copy so. Experienced real estate because I mean like in family office potentially but we can also test it. So I’ll just say that your job position.


[00:28:04] May be limited, partner.


[00:28:10] Accredited investor. Toner couple. Yeah. Yeah, sure. What else would it be? The general or managing director to use Satellite?


[00:28:22] Managing director or.


[00:28:28] Yeah, let me start there. I would say that they a lot of them would be.


[00:28:42] Would be politically right leaning.


[00:28:48] Uh, yeah, they do value family, in my opinion. So, yeah, a little free time.


[00:28:54] Sure.


[00:29:01] Psychographics.


[00:29:04] Yeah. And a lot of them, like I noticed that a lot of them from the conversations they don’t really care about. Yeah, Yeah. They want to obviously like, they’re not.


[00:29:13] Really.


[00:29:14] There’s a lot of focus on the on the other family basically them spreading their genetics like in their legacy and all that and their dreams and stuff like that because.


[00:29:23] You.


[00:29:24] Know a lot of these people that they hit a certain level, they don’t really care about money in the same way that somebody know somebody making less than 100,000 a year would care about money. They think about money really differently. So, yeah, definitely big emphasis on legacy objects. Build legacy or say emphasis.


[00:29:43] And facets.


[00:29:46] Goals and challenges. Because capital preservation. So today’s deal that it closed said that the biggest thing that they’re looking for is capital preservation.


[00:29:58] Hmm. Okay.


[00:30:01] Yeah, because you found out a lot of them. They didn’t really. They already had the money. So it’s more about keeping it And avoiding inflation.


[00:30:11] So I wouldn’t say this.


[00:30:15] Yeah, but in this case, we have the time. Objections. I think the objections would more be like the experiential objections would be like those, say, a track record or whatever track record.


[00:30:31] Yep They say there’s a lot to. I noticed that some of the networks that we spoke to recently, like they like the fact that real estate is going down because it’s like, yeah, that’s when we can buy it at the bottom, you know? So a lot of them are it depends on the person.


[00:30:50] What else? Yep.


[00:30:54] Social media.


[00:30:57] Look, you’re just so you’re talking about how, what and what social media you can find them on.


[00:31:04] Yeah this that that hyperlink below your highlight shows my source because I was like, okay what what do these people have? And so I went there and like, oh my. 70 whatever. 68% has no social media. The 32% has. A third of them roughly are in LinkedIn. So I get the 10% of the people through LinkedIn. I’ve got to how do I get to the other 90%.


[00:31:35] Who.


[00:31:38] Email direct marketing? That’s the question mark I have for you, because I’m sure that 10% on LinkedIn are hammered.


[00:31:51] Yeah, they are probably they have everyone spamming them. There are a few ways like we’re pretty. This is more for later because it’s kind of again, it kind of gets into another world. But yeah, I mean, we can, we have ways of scraping emails of any contacts you can get, You can scrape the email of any contact basically. And the way that we do it, there are two tools that we recommend. There’s one tool and we teach the base how to do this. But then there’s one tool called Hunter Audio. Just open this new tab and you probably know some of these. But there’s one tool called Hunter Audio, which is really good. You entering the domain of any of a few companies and you can find it. And this is in addition to our databases because we already did a lot of the work to find the emails of people anyway who don’t disclose their emails. But sometimes these tools can find emails that we’re not even aware of. So then one that’s even cheaper than hunted I o is is called snob audio. And same thing. We just, you know, we just use we just like these tools to get emails. We recommend them.


[00:32:57] But another way too is. Yeah. We have, like, a little tool here. And we can get into this later. But basically the tool it goes to search engines. You type in what you want and then it goes to the LinkedIn’s and a search on search engines like Google search engine and Bing search engine. And it just scrapes all the emails that you can get from these search engines. And so there’s another tool that, you know, it’s called what is it called here?


[00:33:30] It’s called Surf Api.


[00:33:32] Yeah, it’s called surf API dot com. And then if somebody just follows the instructions, they can do it. But but you don’t have to get into all the technicalities of all that. But yeah, basically like you can, if you know somebody’s name at a company we just use tools, third party technology to just get the email and then from there we market to them and then book them in to say, Hey, how’s it going? But the best one is really the warm introduction. And after the warm introduction, then the list, because the list is already been these are already people that say that yes, I’m interested in them looking for so-and-so type of deals.


[00:34:18] Okay.


[00:34:21] Okay, good. So I think that’s pretty much it. So I think afterwards I’ll send you over this. And I hope I didn’t lose you, by the way.


[00:34:28] No, I’m here.


[00:34:30] Okay, we got it. So we’ll just send you over this. We’ll send you back this avatar sheet that you made. And yeah, we’ll send you also the limited partnership operating agreements example as well. And I think that’s pretty much yeah, it’s pretty it’s pretty straightforward is just from like legal zoom or something straightforward. We have a few examples.


[00:34:50] We’ll send to you tonight, so.


[00:34:52] Okay, great. Thank you. And the PM.


[00:34:56] Yes. Yeah, I think you. You have it. Have you seen it in your Google drive?


[00:35:03] So am I missing it?


[00:35:08] Let me see your clients.


[00:35:11] Okay, so I have to switch.


[00:35:14] Let me just switch windows.


[00:35:18] My Google drive.


[00:35:21] Yeah, the Google drive that we so we sent an email.


[00:35:24] A while back. It’s not.


[00:35:40] And we’ll just send it tonight again.


[00:35:42] But okay. Thank you. I must have missed it.


[00:35:46] Yeah, no worries. So basically it has the it has all the, it has like all these folders and I wouldn’t even get into it just a lot of all the folders that you need.


[00:35:51] So Yeah.


[00:35:57] All right, cool. So I think that’s it for tonight. Pretty quiet night. So let us know if you need anything via support, and then we’ll take it to the next step.


[00:36:04] All right. Okay. Cool.


[00:36:09] Yeah, we’re stepping through every day. Thank you very much. Great work.


[00:36:12] Appreciate it. Beautiful. No worries. Cheers, man.


[00:36:15] Yeah, Take care.


 


 


 






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and closing an excess of $152m in under two years through direct, compliant channels. You will be added to the head count of raises closed.




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We begin by mapping out a customized process for your raises from set up through to completion. 


If someone qualifies for a membership, it will include:



The price for annual membership is currently in the upper 4-figure range for those that qualify.