Finding investors and attracting capital for your first multifamily deal can be a daunting challenge for many investors. Leslie Awasom and Tenny Tolofari managed to tap into their network and primed them to invest in a large apartment deal in Atlanta. The two are the managing partners of XSITE Capital Investment, deciding to team up after bonding through the cashflow board game and discussing their business and investing philosophies.
In this episode, they share how they formed a strong partnership, challenges they faced in doing their first deals, and how they are growing their investor network through events and Facebook groups.
Key Takeaways:
How XSITE was formed by building a strong partnership that started with Tenny and Leslie playing the Cashflow board game to get to know one another and talk business
How to find the perfect partner for your business
Their first multifamily deal of 192 units
Creating opportunity by building relationships and connecting with the right people
Doing your due diligence when checking out a prospective multifamily property
Surprising aspects of a multifamily investment deal as a limited partner
The differences between being a general partner vs. limited partner
How to find investors and raise capital as a new multifamily investor
We’ve all heard “find the deal and the money will come” however, pay attention to the nuances of each deal before relying on that advice
How to start a meetup and the benefits of running these local real estate networking events
Why multifamily investing is a better investment than single-family wholesaling or fix and flips
How to use a Facebook Group for networking, ideas, and collaboration
Partner: Download our Sample Deal Package
Bullseye Tips:
Apparent Failure:
Inability to come up with the capital needed to be a general partner.
Digital/Mobile Resource:
Audible
Most Recommended Book:
The Compound Effect (Darren Hardy)
The Entrepreneur Roller Coaster (Darren Hardy)
Daily Habit:
Meditation
Wish I Knew When I Was Starting Out:
Letting people know what you are doing and branding your company from the start
Best Place to Grab a Bite in Waugh Chapel, Maryland:
Thai Cuisine of Waugh Chapel
Contact Leslie and Tenny:
Facebook Group (The Exciting World of Multifamily Investing)
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