Getting Started In Real Estate: How To Build Wealth And Raise Capital With Josh Cantwell



January 25, 2023



chrisseveney

There are a lot of ways to build wealth. Real estate is one of the paths some entrepreneurs choose to track. Are there any secrets to building wealth in real estate? In this episode, Josh Cantwell, CEO of Strategic Real Estate Coach, shares his insights on building wealth when you’re just starting real estate. The backbone of his journey in real estate is raising capital. If you want to hear more of Josh’s insightful talk on real estate, tune in to this conversation now!

—

Watch the episode here

Listen to the podcast here

Getting Started In Real Estate: How To Build Wealth And Raise Capital With Josh Cantwell

Welcome, everyone, to the show, where each week we bring you education and information that will help you take your next step in building wealth in real estate. I am joined here by Josh Cantwell. It’s great to have you, Josh. Thanks for having me. Josh, I’m really excited about this episode. Josh has invested in and done every aspect of real estate. He manages over $40 million in private money, which is deployed into multifamily real estate apartments. He has been involved in wholesaling, rehabbing, rentals, foreclosure, apartment transactions, and everything in between. He manages over $3,000 cashflowing apartments. He is a CEO and Founder of a variety of successful businesses, including Freeland Ventures. He’s a strategic real estate coach. It’s great to have you here, Josh. Thank you for joining me. I’m excited to speak with you and dive into your real estate journey, and the advice you would have for people just getting started. Thanks for the intro. The first thing is reverse engineer the journey a little bit. We’re focused exclusively on large multifamily projects. We typically buy multifamily properties between 100 doors to 400 doors. The largest deal I’ve ever done was 730 doors. I own one that’s 586 doors. I own another that’s 492 doors, and the smallest I’ve ever done is 5 doors. We’ve done them everywhere in between. It’s quite a range. One of my favorite deals we’ve ever done was a little 54 unit that we bought a few years ago. It wasn’t a senior assisted living community, but there was a senior assisted living community next door. The developer-owner of that decided to build a brand new senior assisted living facility. He decided to sell off what was essentially market rate apartments or 54 units, separately because it was retail, but it was generally a much older crowd of residents. There was a separate building that was about 100 units of assisted living. There was an investor who bought that at a huge discount, and then he flipped it to us. We bought it for $2.4 million. Within 18 months, we upgraded and modified about 50 of the 54 units. Most of the senior residents moved out, and we moved in more market-rate residents. Within 18 months, we sold that building for $4 million. We walked away with a pure true $1 million profit after all expenses and after paying all of our investors. We’ve done that many times, but that’s a dream deal for a lot of investors, especially investors looking to either make the pivot from residential into multifamily because it seems manageable. To buy a deal for $2 million or $2.5 million, it’s a lot more manageable than buying a 730 unit. For limited partners and passive investors, that also seems like a fairly low-risk type of deal to invest their money, get a preferred return, and then also get either a bonus or equity in a deal like that. When I talked to new crowds of new investors, in my opinion, that’s the perfect value add multifamily deal that everybody should try to start with or everybody should try to duplicate. I didn’t start with that. The first deal I ever did multifamily was the 730-unit. I would not recommend that for most people, but that was the first one I started with, so it’s backward. That’s the journey I’m on. That’s where I’m at now. It all started back like most people. I was a financial advisor. I was working in a job that I liked, but hours I hated. I worked a lot of nights and weekends. Most possible clients owned real estate. They didn’t have all their money in the stock market. They didn’t have their money with me, mutual funds, IRAs, or life insurance. They had their big money in real estate. I took notice several years ago and ended up quitting that job and getting into real estate. Even though I had made a lot of money as a financial advisor, I had to start, like most people, doing transactional real estate, wholesaling, and things like that to make income to pay my bills. That’s where I’m at and a little bit where I started from years and years ago. Let’s talk about that. How long were you a financial advisor? How old were you when you left that job? You said you started in wholesaling. I was very lucky I had a very entrepreneurial father. My dad was in the insurance business. He ended up starting an employee benefits company. I got to see entrepreneurship firsthand in my home. My dad built that business from 2 employees to 40 employees. At one time, his biggest client was Advance Auto Parts. There’s Advance Auto Parts on every major corner of every major street with 30,000 employees. My dad did all their employee benefits. To grow a business from two employees to that, I got to witness that in my own house. When I graduated from college, my dad almost lost his marbles when I told him, “Dad, I’m going to go into financial services because I witnessed it in my own house.” He’s like, “I paid for this expensive education. You have student loans. What are you doing?” I’m like, “Dad, you shouldn’t be surprised. I’ve been watching you for the past 5, 8, or 10 years. I like what you’re doing. I don’t want to go do a regular job.” I graduated from college. I did an internship with Northwestern Mutual. I was a 21-year-old college kid with a life and health license and a Series 6 license. I started calling on people that were 2, 3, 4, and 5 times my age and selling financial services, rollovers, IRAs, life insurance, and estate planning. It was probably the best decision I ever made because, at a very young age, I learned how to talk about money. I learned how to talk to older people. I got comfortable with the financial markets, stocks bonds, and mutual funds. That’s what led me to raise over $100 million for my real estate business. Like anything, it was a job. It was very captive. I had to be at the office at a certain time, and I could only put certain things in my marketing that had to be approved by the compliance office. It was very structured. It was very boring to me. When I saw that my clients owned real estate, I was like, “I want to start buying some real estate on the side.” I graduated from college in ’98. I bought my first investment property in 2001, it was a duplex that I house hacked. I lived on the first floor with a buddy of mine. I rented out the upstairs. I lived there for $100 a month. I bought a $150,000 duplex in the Greater Cleveland area. My mom thought I was nuts. She’s like, “Not only are you too young to buy a house, but you’re also going to be a landlord?” My dad disapproved. My mom disapproved. Everybody hated it except for me. I lived there. I told my mom, “Mom, I’m living here for $100 a month.” She’s like, “Wait. What?” I was in financial services from 1997 until 2004. In 2004, I was about 27 or 28 years old. I finally had completely caught the real estate bug and decided to just quit my job cold turkey. How many deals had you done at that point? Was it still that duplex, and you were like, “I see a way out, I’m just going to go for it all in?” There are different personality types. Some people just say, “I’m going to wing this.” Usually, there’s no other mortgage job, kids, wife, and husband attached to that. Did you say, “I have a plan, I’m just going to go for it,” or did you do both at the same time for a bit? Did you invest while you were in financial services still? I have to tell this story from two perspectives. It was me and my buddy, Greg. We were both in the financial services world. We were both in our mid-20s. I was single with no obligations. He was married with three kids. We both were fairly successful at financial planning. I was making $125,000 or $150,000 a year. Greg was probably making $300,000 to $400,000 a year in financial planning. In the fall of 2004, we half checked in and half checked out of financial services. We were going to the Weekend Warrior boot camps. We were buying courses on marketing, lumpy mail, direct mail messaging, and all this stuff. We decided to get an office together that was off the grid where we could start our real estate business, hide the fact that we were doing that while we were still financial planners, and as one online poker. We would play poker. We would play ultimate bet and stuff like that. We were half in and half out. We had made a lot of money, but we also needed income. We were not anywhere near financially independent, especially Greg with his wife and new family. In June of 2005, I remember we both had summer birthdays. We both had June birthdays. We were at a boot camp in Nashville. We had come home from that and said, “Screw it. We’re just going to flat-out quit our jobs cold turkey. We’re going to make this work full-time.” We felt like we were half pregnant with both. We got home and quit our jobs. Greg’s wife freaked out, but she was very supportive because Greg was a smart entrepreneur. I didn’t have a family to support. It was just me. I tell that story because it comes down to confidence, desire, and how much you believe in yourself. I believed in myself, but I had no obligations. Greg believed in himself, but he had every obligation and every reason not to quit a high-income job and to stick with financial services, but he decided to quit anyway. It doesn’t matter. Anybody can quit. Anybody can do it if they want. If we wanted to get going, we had to put all of our time, effort, and energy into it. The only way to do that was to quit cold turkey. We both walked away. We walked away from these big incomes. We walked away cold turkey. We poured all of our time and attention into real estate. The result of that was within the next 12 weeks or so, we flipped and wholesaled 18 properties and made $350,000 because we burned the boats. We had to make it work, make the money, and figure it out, and we did. I’m a big advocate for that. Many people cannot stomach that path, but that’s what we did. There’s that type of person. I am more of that type of person. I know people that’s not something they’re comfortable with, whether or not they have obligations. It’s more, “I’m going to do this until my passive income exceeds what I’m making now or my passive income is at least enough to work with to live until I can grow the real estate.” I love that you said burn the boats and make it work. There’s something to be said about that mindset of there’s no going back. This is it. This is what I want. It ignites a certain type of drive. We would tell ourselves, “If you want to be successful, give yourself no other option,” if there’s no other option of, “I can’t go back to anything else. I’m not going to have a backup plan. I have no other option. I’ve got to be successful with this.” Many people get into real estate and go to the Weekend Warrior boot camp. They listen to podcasts or webinars. They’ve always got one foot out the door, and then they wonder, “How come this isn’t working for me?” Partially, it’s because they’re not putting all the time and effort into it 110%. Also psychologically, they’re already telling themself, “If I’m not successful, it’s okay. I have a backup plan.” That’s not good. You need to burn the boats if you ultimately want to be successful. If you want to be successful, give yourself no other option. Click To Tweet I think about Elon Musk when he launched Space. When one of those first rockets went up into the atmosphere, came back down, and landed, SpaceX was out of money. If that rocket didn’t land and was able to reuse that rocket, they were bankrupt. They had to be successful with it. That’s a mentality that can serve a lot of people, not only in real estate, but in entrepreneurship of any kind, is to make sure that you don’t have any other option, but to be successful, and you’re going to pour your heart and soul into it. That’s a great point. I talked about this in another episode where you have to get to the point where you feel the pain of what you’re doing that ignites you to go ahead and burn the boat. Going back, you’re in your late 20s and early 30s at this point. You were wholesaling. At what point did you move into another asset class, single-family or multifamily? For our audience reading, the real estate journey is not always linear. You may still do some wholesaling or maybe you don’t, but a lot of people think, “He’s done multifamily forever.” This is just a good example of you started with wholesaling, and now you’re doing multifamily. You don’t have to do one thing, and that would be it. How did you transition in? What was the next phase of your real estate career? The next phase was simple. I was diagnosed with pancreatic cancer. Pancreatic cancer at that time in 2011 had a 6% survival rate. I remember coming home from work. I had two little baby girls at that time. I had a 2-year-old and a 1-year-old, and my wife was also 8 months pregnant. I came home and walked in the door like any other day. I was roughhousing, wrestling with my kids, and having a good time. I rolled over. I’ll never forget looking up at the ceiling fan, crossing my hands across my stomach, and I felt this giant lump on the left side of my stomach. It happened that fast and naturally. I’m like, “What is that?” I yelled over to my wife, “Honey, come here. Check this out.” She starts poking around, and it’s only on the left side of my stomach below my ribcage. It’s hard as a rock. It’s not on the right side. I’m like, “This isn’t a hernia. This is in a weird spot.” I decided to wait till my son was born, and then go get checked out. I went and get the CT scan. Sure enough, the doctor says, “Mr. Cantwell, I’m sorry to tell you but you have pancreatic cancer.” At that time, if you remember Steve Jobs from Apple computer had pancreatic cancer. He had the same exact diagnosis as me, the same type of pancreatic cancer, and he was on his deathbed dying. I saw that right away, and I’m like, “This is not good.” Not only is this bad for my business, but I then had to take nine months away from work. It was about 3 to 4 months to prepare for the surgery and get things in order, all these doctor’s appointments, my son being born, and then also another 4, 5, 6 months after the surgery to recover. The surgeon took out my entire stomach, my entire gallbladder, my spleen, most of my pancreas, and most of my liver. He had to rebuild the arteries behind my liver. I lost 50 pounds in 3 weeks, and I had to relearn how to eat.

Rich Dad, Poor Dad

Guess what happened to my wholesaling business? It evaporated and disappeared because I couldn’t do the business. I quickly realized that I had a very high-paying job. I replaced my old job in financial services with my new job of wholesaling houses. I realized I had made a major mistake, which is I did not have any of the passive cashflow that you learn about when you read Rich Dad Poor Dad and Multiple Streams of Income, and you fall in love with real estate. You don’t fall in love with wholesaling or rehab flips, you fall in love with passive income, wealth creation, and equity. That’s what you fall in love with. Everybody falls into the wholesaling trap because they need to. They have to. That’s what happened to me. I also realized at that time that I had this financial services background and I loved raising capital, so I committed now to rebuilding my life around raising money. I knew that I could learn about the Securities and Exchange Commission, Reg D offerings, private money, and private placements, and I was going to start over. I had bled hundreds of thousands of dollars of cash during that year or so of recovery. I ultimately made an amazing decision, which still serves me that I was going to do it the right way. I was going to focus on recruiting private money. I was going to do it with other people’s money. I started with rehab flips. I then moved into building a rental portfolio. I then moved into a private equity fund structure, which ultimately led me into multifamily. All of those, which is the last several years of my life, and it doesn’t matter what the strategy is, the backbone of it is raising capital. The backbone of it is getting the private money to do whatever deal I wanted, whether it was rehabs, rentals, funds, or apartments, I was going to focus on private money funding first, not institutional money, not debt, but true private money, and that’s ultimately what set me free.

Raising Capital: It doesn’t matter what the strategy is. The backbone of it is raising capital. The backbone is getting the private money to do whatever deal I wanted.

Tell me about your first deal when you went to raise money. What was that like? Honestly, the first time I ever raised money was when I first started my real estate career in 2004 and 2005. I decided we were going to get into wholesaling, but my buddy, Greg and I, didn’t have a lot of extra money. I remember going to the gym. It was the gym down the street. Is it always at the gym? We were raising money at the gym. My brother’s mother-in-law was recently divorced. She had gotten part of their retirement account from the ex-husband. She was at the gym working out on the elliptical, getting back in shape and getting back in the game. We started talking. I was on one elliptical, and she was on the other. She’s family. She’s my brother’s mother-in-law. She came to Christmas and Easter. We were talking a little bit about her divorce, and she said, “I inherited this money. It was a couple of hundred thousand dollars from this divorce. I don’t know what to do with it.” I was just thinking, “What if I borrowed some of this money?” I learned through some boot camps about private money. Sure enough, she decided to do it. She gave me $65,000, and I promised to pay her 18% interest on a 5-year note. She did not want the money from it, she just wanted it to grow. She literally said, “I’ll give you $65,000 for the next 5 years.” One of the first things I did was we took that money into our operating account. I bought a property for $40,000 that we ended up turning and flipping for $60,000, a very quick wholesale profit. I had to buy it. It wasn’t like an assignment deal. I had to close on it. We used the money for that. I used the $12,000 to enroll in a coaching program. That was the first friends and family offer. I didn’t know anything about private placements at that time or PPMs. It was just a simple note, an unsecured note. I realized, if you don’t have credibility, which I didn’t, you have to offer something else, which is a very high rate of return. If you have a lot of credibility, then it’s the opposite. You don’t have to offer a very high rate of return. There’s a give-and-take there. That was the very first nickel of private money I ever raised. If you don't have credibility, you have to offer something else, which is a very high rate of return. If you have a lot of credibility, then it's the opposite. Click To Tweet You’ve raised tons of capital since then. What would you say were some things that accelerated that part of your career? With your background in financial services, I’m assuming you’re selling and building your own book of business, which I would equate to raising capital in a way. For people who are looking to raise capital, say they’ve done some deals or are starting to move towards that fun structure, do you have any recommendations for them or learnings? Here’s one of the things I learned from financial services, which Gary Keller also teaches a similar strategy in his book. In the financial services world, we called it our Project 100. We would write down 100 names, phone numbers, email addresses, and physical addresses of people that we already knew, like friends, family, your doctor, your barber, just people that you know. In the financial services world, they would teach you to go out to those people and not sell them anything, but present to them what you do. In a way, you’re just saying, “This is what I do.” If they’re interested, they’ll say, “What about me? I need that.” If not, hopefully, they would refer you. I used that exact technique when it came to private money. I made a list of about 100 people. It might have been 50 or 200. I don’t remember exactly. I created this Project 100 of people that I thought, “Who can sell me a property, buy a property from, be a private lender, and be a cheerleader in my real estate business?” Greg and I did this way back, and then I did it again over the years. This is an archaic manual way of raising capital. We don’t do it this way anymore, but when I got started, what advice I would give people is to do exactly this. Create your Project 100, first name, last name, email, phone, and physical address. Put them into a database, create a marketing postcard or a newsletter. Send it out to all of them, then follow up with a phone call and say, “Did you get my newsletter? What did you think about it? Did you get my postcard? What did you think about it? ” What we would do in the financial services world is I would say, “Listen, I would love to get together with you over a beer, a cup of soup, a donut, and just tell you a little bit more about what I’m doing.” “I’m not assuming that you’re interested in investing at all. I’m not assuming that you have any money to invest, but you’re one of my close friends or family. I just want to share with you what it is that I’m doing in case you run across someone who may be interested, and you could refer me. I’ll be top of mind reference for you.” I would go meet with them then and I would present how private lending worked, a note, a mortgage, and whether it was a preferred return with equity, which is what we do now with apartments. In the end, I would just say, “Do you know anybody?” What I was doing back then is I was presenting primarily for rehab flips. I would present and show a 12% interest or 15% of my profits, whichever was greater. At the end of the conversation, I would say, “Do you know anybody that would be interested more in learning about this?” They all then started saying, “Josh, what about me? I’m interested in getting 12%. I’m interested. If that’s my floor, 12%, and I could get more than that if the 15% of the profit is better than 12%, can I get more? I’m interested in that.” They liked it even more because I wasn’t pitching them. I never asked them for money. I didn’t want to pitch my mom, my uncle, or my friends for money. I wanted to present to them in a way that was super cool, super low, and with no pressure. All of a sudden they all started saying, “Josh, I would do that for you. I would be happy to do that.” That approach works, and it still works nowadays. I would say anybody who is getting started in their real estate journey that is maybe getting into wholesaling or pivoting from wholesaling to larger deals or pivoting into multifamily, is to start with a similar approach to that. Now, it’s totally different for us. We have a huge digital marketing presence. We have this huge podcast. We’ve got tens of thousands of subscribers. Every time I pitch a deal, it sells out in an hour. We can raise $5 million or $10 million in less than a day. That’s how I started years ago. If people invest with not only the asset class but people that they know they could trust, there’s that big know-like-trust factor that goes into everything. I would imagine, and correct me if I’m wrong, but you’re speaking with these 100 people that you know-like-trust with. They’re going to be more prone to be like, “I will invest with you.” That grows. You gain a track record by being able to repay these people. You gain credibility with people that they refer you to. It’s that snowball effect essentially. You’re starting, and then gaining that credibility in the space, but also referrals, more trust. Now, it’s shifted to where you have that brand presence, you can put a deal out there, and it sells out almost immediately. No doubt. Along those same lines, what we did right as we started to scale the business is I believe every great business is a partnership. Everyone talks about Warren Buffett, but his partner Charlie Munger, they’re 1A and 1B. In every one of Elon Musk’s businesses, he has a president or chief executive that runs SpaceX, Twitter, and Tesla. It’s not just him. Every business I feel like I’ve been successful with, and I’ve had three main partnerships in my real estate journey, it’s all been a partnership. One of us was responsible for one swim lane, and somebody else was responsible for a different swim lane. I found out very quickly that I was good at the front of the business, marketing, sales, acquisitions, and raising money. I needed to bring somebody in who was more of the operational person to execute the deals, more of the contracts, the logistics, the paperwork, that kind of thing. I believe that every business has a front-end guy or a girl that brings in business in the house. I have the belief that there’s another partner that takes care of the deals once they’re in the house or getting them out of the house to make a profit. I believe that is a major formula for success. I was able to split the responsibility where I was focused on acquisitions, finding deals, and finding capital. That’s all I had to do. I got good at it, and I was able to scale that very quickly.

Raising Capital: Every business has a front-end guy or girl who brings in business in the house and another partner who takes care of the deals once they’re in the house and/or gets them out of the house to make a profit. That is a major formula for success.

Basically, finding someone that is your good opposite just to divide that work and have that focus, that’s something I’ve seen across all the partnerships that have been super successful. There’s that yin and yang, and it works well. It’s got to. One of the keys to partnerships is that you have to be comfortable finding someone and working with someone who’s almost your polar opposite. You need to find somebody. In a romantic relationship, opposites attract. They should attract in a business relationship. Trust me, if I had to do the front end and I also had to manage the back of the house, the business would fall apart. I couldn’t do both. I have only one personality and skillset, and I love to be the front end of the business, marketing, sales, podcasts, webinars, talking to investors, talking to brokers, creating relationships, being out at events, and being in front of people in my community. That’s allowed me the time and the bandwidth to get good at raising money. It’s a psychological warfare of raising money because I got to know how people think and what their risk tolerance is. I got good at that. If I had to be good at all that and had to be good at leasing, evictions, and refinances, I couldn’t do both. Partnerships are cool. In my business now, there are three of us. My swim lane is what I just described, and I’m the CEO and majority owner. Glenn is my partner who manages all of our capital improvements, CapEx. Now, we have about a $7 million CapEx budget. It’s a major budget. We have a huge team. That’s all under the construction. Tyler is our partner who focuses on asset management. He oversees all of our property managers. We have four major property managers that work under us. We work with RHM, REM, Trinity Multifamily, and Asset Living. There are four major multifamily property managers. They sit under Tyler. We’re all able to be good at what we do because of that partnership. In order for that to happen, you have to have a big enough portfolio that you can divide up, and there will still be enough meat on the bone that everybody can make a living and achieve their goals. We realized if the three of us were going to be in business, we had to get big fast in order to support all of our families. We were able to do that. That’s a big part of it. For me, raising money, if I had to do everything else also, I wouldn’t nearly be as good at it. To bring it all together, my key takeaways from our conversation would be, go big or go home and burn the boat. If you’re looking to get into real estate, shift that mentality to make it a non-negotiable, this has to succeed, there is no fallback plan. I would say that where I do see a lot of people fail is having that fallback plan and not going all in, starting with your 100 list when you’re looking to raise capital or get your first deal funded by someone else’s money. The third thing, which hasn’t come up yet, I’m surprised, but it’s such a great point, is the team. You think, “I love this person. We’re similar. We have the same energy.” You don’t need two people to do that job. You need one person here and one person over here. I love that. It’s about finding the opposites attract all-star team to be able to grow and scale quickly. If someone came to you and said, “I am ready to leave my high-paying job. I want to get started,” what would your number one tip be to them? There’s a big misconception out there that if you find the right deal, the money will follow. I do not subscribe to that. I subscribe to look when my real estate business took off, and all of a sudden, I wasn’t a 6-figure investor or an 8-figure investor, but I was a 9-figure investor. It was because of the funding. The funding comes first, especially when you’re doing large multifamily deals or even medium-sized or small-sized multifamily deals. The seller has to be convinced that they have a certainty of closing. When they award you the deal and say they’re going to sell it to you, whether it’s direct to the seller, through a wholesaler, or through a broker, they have to have a certainty of closing. That certainty of closing comes from credibility or experience, but not really. What it comes from is do they have the certainty of knowing that you’re going to be able to raise that 20% to 35% of the deal that the bank is not going to fund. In every one of my large multifamily deals, the bank’s fund, out of the total capital stack, there’s about 30% to 35% of the deal that I need to raise myself. If I’m on a $10-million deal and I need $13 million all in to cover everything, including CapEx, soft costs, and everything like that, I’m going to have to raise about $3.6 million. That’s the certainty of closing. I can get a bank loan, a partnership, or find the deal. That’s easy. The toughest part is that last 20% to 30%, 35% of the capital stack that’s going to come from true private investors. Funding equals freedom, not debt funding, not institutional funding of any kind, but the true private capital where you’re raising that from other mom-and-pop private investors. If you can do that, you could write your freaking ticket to retire early to financial independence. Nobody ever fails in this business when they have too much private money. They fail when they’ve got too many deals and not enough private money, or if they have a deal going sideways. I’ve had deals that go sideways. For a lot of people, that would bankrupt them. For me, I was able to recruit more money to cure the problem. True private money funding equals freedom. I would’ve never been able to retire early in my 40s if I didn’t truly focus on getting that private capital. Creative financing and creative deals are great, but the guys that I know that have true wealth, whether it’s in single-family, multifamily, commercial, resi, notes, mortgages, or whatever, they’ve been skilled at raising money from other people. It’s funny because we do a ton of episodes from people in real estate. I would agree with you. I’m on your side of the house. Naturally, that makes sense, but that’s not something we hear a lot. I’m biased here, but I agree. They struggle because they don’t have the money to buy the deals. The best brokers, wholesalers, and owners control the substantial deal flow if they’re going to award deal after deal after deal to the group that can close that has the private money. If you put the funding first, then the deals will follow versus if you put the deals first, the money does not always follow. I’ve got brokers throwing deals at me like, “Josh, do you want this one? Do you want this one? Here’s a pocket listing, it’s a $10-million apartment. Here’s a pocket listing, it’s $20 million. Here’s a pocket listing for a senior assisted living facility and a storage facility.” They’re throwing them at us, and we get to cherry-pick because we’ve built that reputation of having the money to close, versus if it was the opposite, maybe I’d be able to buy one deal, then I’d struggle to get the money, then the next deal, I struggle to get the money. That’s my major piece of advice. If you put the funding first, then the deals will follow versus if you put the deals first, the money does not always follow. Click To Tweet Thank you so much for joining us on the show. I know you also do real estate coaching as well. How can someone connect with you and learn more about you, your funds, or your coaching? We don’t have any programs or anything like that. We just do one very high-level mastermind group for experienced operators. You can check all that out at our main website, which is FreelandVentures.com. You can check out our YouTube channel, our Facebook group, and our mastermind. You can see our portfolio if you want to become a private investor with us, all on FreelandVentures.com. You also have your podcast as well. Do you want to give that a plug here? Freeland Ventures again, you can find it there, but it’s called Accelerated Investor. It’s primarily for those people who are in commercial multifamily and apartments, or people who are aspiring to scale up into commercial multifamily. That’s what the podcast is all about. If you’re interested in that or you want to connect to Josh, go check out FreelandVentures.com. Thank you, Josh, so much for joining us on this episode. If you guys are reading and you enjoyed the show, share it with your friends, subscribe, or leave us a review. Until the next episode.