Getting Started As An Investor
When I first started making plans to invest in real estate, my logical goals involved investing in multiple single family homes. It was exciting to think about earning income from multiple homes in my area. Before I knew it, I had two single family rentals and I felt like my dreams were coming true. It was a true proof of concept of the wealth-building power of real estate. I started to make plans to getting another single family. But I had diminishing satisfaction in doing so. Would I just continue getting single families until I had “enough.” Well, according to my math, in order to meet my cash flow goals, I would need 42 single family homes! That would probably take about 20 years and a couple headaches. That and others were a few reasons why I chose to invest to multi-family.
Since Deciding to Focus on Multi-Family
That decision was concrete in July of 2020 after I attended a conference for multi-family syndicators. I grew my network infinitely, gained incredible knowledge and was motivated to invest in apartments. I started getting up at 4 a.m. to work on my new business and soaked in everything I could to learn about apartment syndication.
I read The Best Ever Book on Apartment Syndication by Joe Fairless which I now use as a reference and outline for my business, Robinson Capital, which was formed October 2020. That book helped me with my first potential investor call!
As stated I formed the company I would use to invest in apartments, and I also did some other things to better position me.
My belief is that I will be a stronger syndicator by having experience as a passive investor. In order to obtain funds to invest as a limited partner in a syndication, I did a few big things:
- I refinanced one rental, pulling $26k out of one while achieving a lower mortgage payment.
- Set rolled two old 401k’s in to a qualified retirement plan with EQRP.
- Currently refinanced the other rental to achieve a 20% and as a result of a lower interest rate (5.36% to 3.5%) was able to achieve reduction in the mortgage payment, which is a direct increase to cash flow.
- I hired a property manager to manage both of these rentals so that I can focus on building my multi-family investment business.
Sharing the journey
At this point, I have released over 50 blog posts and 60 additional written to help educate others on the benefits of real estate, how to invest and how to grow wealth by passively investing. I also use it as a platform to share my business with others as well as my personal story that hopefully inspires others to go after their dreams.
Witness the Journey
Similar to documenting your children’s first steps and words and journey into adulthood, I figure that I have a great opportunity to document and share my journey to wealth creation for others’ benefit. It is one thing for someone to share the the success story after they have arrived at the destination. But it is also compelling and inspirational to watch and walk with someone as they take the steps towards their dreams.
Since starting this blog in July 2020, I have taken the above steps and more and my knowledge and confidence of building wealth for myself and others has exponentially increased.
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Passive Investor Startup Guide
To find out more about what it looks like to invest as a passive investor in multi-family real estate, download our free Passive Investor Startup Guide here!
Popular Passive Investor Articles
– Mindset: Freedom through passive investing
– What is multi-family syndication?
– Do I have to be accredited to invest in a syndication?
– How passive investors can find great sponsors
– What to look for in potential syndicators
– About Robinson Capital
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Rodney Robinson II