Raised $30 MM in capital for real estate through LinkedIn and Guest Podcasting | Posts about Real Estate, Writing, and Audience Building

Most fund managers treat visibility like a campaign.

Raise.
Deploy.
Go quiet.
Raise again.

And every cycle starts from zero.

That model caps scale.

I work with growth stage real estate and private equity sponsors ($50M–$150M AUM) to build durable investor visibility so capital conversations don’t start cold and raises compound over time.

This isn’t about going viral.

It’s about building signal, credibility, and allocator familiarity before you need the capital.

If you're a $50M–$150M sponsor ready to build the visibility that compounds into your next raise, apply below.

Matthew Baltzell 🌴

Most people think AI is replacing jobs.

But that’s not the real shift.


Look at this photo.

In the 1940s, a “computer” wasn’t a machine.

It was a person.

Rooms full of people doing calculations by hand.

Then machines replaced that work.

Humans started using computers.

Now something strange is happening again.

Computers are starting to use other computers.

AI tools.
Agents.
Automation.
Software running software.

Work that used to require departments can now be handled by one operator with the right systems.

And it’s creating a new divide.

Not...

People vs AI.

But...

Operators with leverage
vs
Operators doing everything manually.

In real estate and private equity this is becoming very obvious.

The sponsors raising capital the fastest aren’t necessarily the smartest.

They’re the ones building distribution systems.

Content.
Investor pipelines.
Automated outreach.
Deal narratives.
Investor updates.

Things that used to take a team of analysts and marketers can now be done by one operator with the right tools.

Which means the next generation of sponsors won’t just raise capital with relationships.

They’ll raise it with leverage.

Matthew Baltzell

$20M+ Raised | Investor Visibility for $50M–$150M Real Estate & PE Sponsors | Capital Raising Systems for Serious Sponsors

I saw this chart and immediately thought of my mom.

She never paid full price. Ever.

Coupons. Sales. Negotiating at the register.

If she got a deal — it was a good day.
If something was expensive — it was a ripoff.

She wasn’t wrong.

She was playing the game she was taught. Perfectly.

I remember her driving 25 minutes to Costco to save $4.
Arguing over a $7 coupon.
Skipping the better option because it “felt expensive.”

And sometimes that worked.

Until it didn’t.

The cheapest option saved money.

It didn’t always save reputation.

Cheap isn’t a flaw.

It’s a survival skill.

It just stops working above a certain altitude.

This chart doesn’t show good people vs bad people.

It shows different rules for different environments.

My mom mastered hers.

What rules are you still playing by?

I drove home after visiting my grandma and felt sad. She's 92. I don't see her enough.

This Christmas my wife and I went to her assisted living home for their holiday party. 

Nothing fancy. Just showing up. Sitting with her. Talking to her friends.

When we walked in, she looked at us like we were the whole world. Her friends did too.

She still gets her nails done every week. 
Still wants to look pretty. 

92 years old and young at heart in every way that matters.

What makes her eyes light up isn't much. Just family walking through the door.

And I keep thinking about how many of those moments I've let slip by. 

Too busy. 
Too distracted. 
Too much in my own head.

I don't have a big lesson here.

Just a reminder to myself...

Show up. Not just physically — but in the moment.

Jeff Bezos: $500,000,000+ in real estate
Grant Cardone: $4,000,000,000+ in real estate
Tyler Perry: $300,000,000+ in real estate
Oprah: $200,000,000+ in real estate

The wealthiest people and brands don't just own real estate.

They obsess over where they put their money.

All in on one asset class...

Spread across 5 different types.
Diversified across 15 markets.
Every allocation decision compounds (or kills you) over 20 years.

What's your allocation strategy?

P.S. What's your biggest capital allocation move in 2026?

Mine...

1. Double down on raising capital (my least natural skill, honestly).
2. Learning guitar.

What about you?

Matt Damon said Netflix has to repeat the plot 3–4 times because people are on their phones (Now apply that to investors.)



If you think...

- “I already explained the deal”

- “They saw the deck”

- “We covered this on the last call”

You’re overestimating attention.

Investors are scanning, not studying.

They’re comparing you to 5 other deals this week.

They remember patterns, not paragraphs.

That’s why the best sponsors:

- Repeat the thesis

- Reinforce the why now

- Reanchor the risk story

- Restate the downside protection

Same message.
Different format.
Every touchpoint.

Call.
 Deck.
 Email.
 Podcast.
 Follow-up.

If Netflix needs repetition to keep viewers…
...You need it to move capital.

If your deal feels “obvious” to you,

it’s probably still unclear to them.

After 25+ conversations with real estate sponsors about raising capital, one pattern kept repeating.

When it came to capital…

It was feast or famine.

There was almost no middle ground.

Sponsors fell into two groups.

𝗧𝗵𝗲 𝗢𝘃𝗲𝗿𝘀𝘂𝗯𝘀𝗰𝗿𝗶𝗯𝗲𝗱

Their LP pipeline was already full.

Deals oversubscribed.
Investors waiting for allocations.
Capital ready when a deal appeared.

Blah, Blah, buttttt....

They were still looking for more investors.

Because experienced sponsors understand something most people miss:

The best time to raise capital isn't when you need capital. 

𝗧𝗵𝗲 𝗭𝗲𝗿𝗼 𝗣𝗶𝗽𝗲𝗹𝗶𝗻𝗲

Dry LP pipeline.

No consistent investor flow.
Starting from zero every raise.
Scrambling for investor conversations in hubspot at midnight. 

Every deal becomes a fire drill.

The stress.
The pressure. 
The cursor blinking at you waiting for your next email blast!

No bueno. 

The takeaway...

There were very few sponsors in the middle.

You either have:

A machine that attracts investors

or

You start from zero every time you raise and are left holding the empty bag. 

The sponsors in the oversubscribed category all had something in common.

They were building investor relationships long before they NEEDED capital.

The most common pattern I saw..

A podcast.
A strong LinkedIn presence.
A newsletter.
Consistent content documenting their deals, their thinking, and their process.

Not selling.

Just showing up.

By the time an investor discovered them, through a post, an episode, or a piece of content, they already felt like they knew the sponsor.

That's the difference between a cold ask and a warm conversation.

Raising capital isn’t something you switch on.

It’s something you build.

Alex Rodriguez made $441,000,000 playing baseball.

He parlayed it into $300M+ in real estate.

Here’s how he did it:

He LEARNED from the BEST.

• A-Rod didn’t just spend. He studied.
• Sat in rooms most athletes never see.
• Treated investing like a second career NOT a hobby.
• Learned underwriting, capital stacks, deal structure.
• Built a relationship with Barry Sternlicht (Starwood Capital).

That became the foundation.

He TOOK ACTION.

• Started investing in multifamily while still playing.
• Focused on cash-flowing assets, not headlines.
• Built A-Rod Corp as an investment platform.
• Partnered with experienced operators.

He transitioned from athlete…

To operator.

To allocator.

Most of us won’t sign a $275M contract.

But anyone can:

• Study capital allocation.
• Learn from serious operators.
• Binge watch Landman on the treadmill. 
• Build relationships above their weight class.

The shift isn’t talent.

It’s identity.

Income is temporary.

Ownership compounds.

P.S. The real question everyone wants to know?

Was the $252M Yankees contract…

Or the first apartment deal…

The better investment?

"When we had a deal."

That was their entire investor relations strategy.

They were raising $15M.

I audited 12 operators last month. This wasn't the only one.

Good deals. 
Credible sponsors. 
Empty pipelines.

The raises weren't broken. The systems were.

Here's what I saw:

→ No investor CRM (pipeline = inbox + memory)
→ No nurture engine (deal email → silence for 6 months)
→ Two had zero post close reporting cadence
→ Raising in 60 day sprints instead of building a 12 month engine

The real problem:

Raising $5M isn't about finding investors.

It's about becoming investable.

Operators at the $5M–$25M level don't struggle because deals are bad.

They struggle because LPs wire on:

→ They've seen you before
→ They trust your process
→ They respect your reporting
→ They've been hearing from you for months

Not excitement.

If you're raising $5M+ and have $25M+ AUM…

I'll audit your capital system.

Direct feedback.

DM me "AUDIT."

𝗣.𝗦. 𝗛𝗼𝘄 𝗺𝗮𝗻𝘆 𝗶𝗻𝘃𝗲𝘀𝘁𝗼𝗿𝘀 𝗶𝗻 𝘆𝗼𝘂𝗿 𝗽𝗶𝗽𝗲𝗹𝗶𝗻𝗲 𝗵𝗲𝗮𝗿𝗱 𝗳𝗿𝗼𝗺 𝘆𝗼𝘂 𝘁𝗵𝗶𝘀 𝗺𝗼𝗻𝘁𝗵?

Started learning guitar 6 months ago. Turns out being bad at something is good for business. Here’s why…

I decided to post proof.

This video confirms I’m still not good.

And that’s the point.

No leverage.
No shortcuts.
No AI saving my rhythm.

Just reps.

Most adults won’t start something new because they don’t want to look average.

In business it’s the same.

They over plan.
Over edit.
Overthink.

All to protect their ego.

Protecting your ego is the most expensive habit in business.

You focus on fundamentals.
You get fast feedback.
You improve.

Six months in, I’m not great.

But I’m better.

Sidenote: Background audio courtesy of two tiny humans who also don’t care that I’m a beginner.

What are you learning right now that you’re not good at yet?

An 18% IRR deal fell apart in 60 seconds.

All I did was paste the OM into ChatGPT.

It rewrote the deal in plain English.

That’s when the cracks showed.

• 18% IRR… assuming exit cap compression
• Rent growth projected at 2x the submarket
• “Value-add” mostly cosmetic upgrades

Nothing dishonest.

Just optimistic.

There’s a difference.

AI doesn’t get impressed by glossy decks.

It asks one question:

“What has to go perfectly for this to work?”

Great decks sell.

Great underwriting survives.

Big difference.

Most people say they want freedom.

But very few want the discipline required to get it.

That’s why most people stay employees.

Half of your LPs might never invest with you again.

And it probably has nothing to do with your returns.

Two operators.
Same market.
Similar returns.

One has 47% LP reinvestment.
The other averages 84%.

The difference isn’t the deal.

It’s discipline.

Low reinvestment operators:

• Update LPs when they need something
• Late reports
• Silence between raises
• Investor relations = reactive

High reinvestment operators:

• Monthly updates
• Proactive communication
• Clear forward narrative
• Investor relations = compounding system

The math:

50% re-invest = rebuild half your book every raise.
85% re-invest = replace 15% and scale.

Most sponsors don’t have a deal problem.

They have a relationship infrastructure problem.

If you don’t know your LP reinvestment rate, that’s the first red flag.

I’m running a Capital Raising Infrastructure Audit for sponsors actively raising $5M+.

We look at LP retention, communication cadence, visibility, and raise velocity.

Comment “AUDIT” and I’ll send details.

Everyone’s arguing about housing.

But almost nobody is talking about the real driver..

Capital.

Young buyers want cheaper homes.

Homeowners want prices to keep rising.

Politicians promise affordability.

But the housing market isn’t driven by hopes or politics.

It’s driven by capital flows.

Demographics.
Interest rates.
Credit availability.
Institutional money.
Government incentives.

When capital is cheap, assets inflate.

When capital tightens, deals stop penciling.

And right now we’re watching the system try to do something impossible:

Make housing cheaper...

...while protecting the trillions of dollars already sitting in residential real estate.

That’s not how capital markets work.

Asset values don’t reset politely.

They reprice when capital conditions change.

So if you’re under 40 and waiting for someone to “fix housing”…

Good luck.

Because the housing market isn’t a fairness system.

It’s a capital market.

The real move?

Understand how capital flows into assets.

Build skills that compound.

Create income that scales.

And get ownership exposure as early as you can, even if it’s uncomfortable.

Because the people who win aren’t the ones complaining about the system.

They’re the ones who understand how money moves inside it.

Agree or disagree?

I spoke with a 30 year operator managing $50,000,000 in assets who realized he couldn’t scale without visibility.

Great track record.
Strong returns.
Solid local reputation.

But he hit the Friends & Family ceiling.

And here’s the uncomfortable truth:

Most $50M sponsors aren’t stuck because of performance.

They’re stuck because no one outside their zip code knows they exist.

He knew he needed RIAs and Family Offices.

That requires trust at scale.

Not another lunch meeting.

We mapped the strategy.

Then it stalled.

Why?

Infrastructure.

No real investor relations support.
No systemized follow-up.
No capital discipline.

And the quiet fear:

“If this works… can we even handle it?”

Marketing feels risky when your backend is fragile.

Fragile doesn’t scale.

Visibility compounds.

But only if the machine behind it can absorb demand.

Otherwise, you don’t have a marketing problem.

You have an operator problem.

What’s harder:

Finding investors?

Or becoming the firm that can handle them?

I reviewed a 92 unit apartment deal this week.

On paper it looked great...

Nice looking property.
Good market.
Classic value add play.

The story was simple:

Buy the property.
Renovate units.
Push rents.

On paper, it all works.

But after looking at a lot of deals lately, I keep coming back to the same three things.

3 things I always look at now:

𝟭. 𝗥𝗲𝗻𝘁 𝗮𝘀𝘀𝘂𝗺𝗽𝘁𝗶𝗼𝗻𝘀

• The plan here was roughly $150–$200 rent increases
• That’s where most of the investor returns come from

But the real question is simple:

Will tenants actually pay those rents?

𝟮. 𝗗𝗲𝗯𝘁

• Interest rates matter more than people want to admit
• Refinance timing can change the entire outcome of a deal

A property can perform well…

…and still struggle if the debt is wrong.

𝟯. 𝗧𝗵𝗲 𝗼𝗽𝗲𝗿𝗮𝘁𝗼𝗿

This one matters more than anything.

• Leasing strategy
• Tenant quality
• Renovation execution

A good operator can fix a mediocre deal.

A bad operator can wreck a good one.

The more deals I look at, the more I realize something:

Most deals don’t fail because of the property.

They fail because of assumptions.

TLDR, 

When you look at a real estate deal…

What's the first thing you check for?

I’ve audited 3 capital raises last week.

The pattern is consistent.

Operators who close don’t rely on better decks.

They build better infrastructure.

Here are the 3 things that separate operators who close from operators who stall:

𝟭. 𝗧𝗵𝗲𝘆 𝗻𝘂𝗿𝘁𝘂𝗿𝗲 𝗯𝗲𝗳𝗼𝗿𝗲 𝘁𝗵𝗲𝘆 𝗻𝗲𝗲𝗱 𝗰𝗮𝗽𝗶𝘁𝗮𝗹

Sponsors who close fast started conversations 6–12 months before the deal.

Sponsors who stall?
First touchpoint is the deal email.

LPs don’t wire on excitement.
They wire on familiarity.

𝟮. 𝗧𝗵𝗲𝘆 𝗸𝗻𝗼𝘄 𝘁𝗵𝗲𝗶𝗿 𝗻𝘂𝗺𝗯𝗲𝗿𝘀 𝗰𝗼𝗹𝗱

Average check size.
Re-investment rate.
Time from first conversation to close.

If you can’t answer those in 10 seconds, you’re guessing.

Guessing doesn’t scale past $10M.

𝟯. 𝗧𝗵𝗲𝘆 𝘁𝗿𝗲𝗮𝘁 𝗶𝗻𝘃𝗲𝘀𝘁𝗼𝗿 𝗿𝗲𝗹𝗮𝘁𝗶𝗼𝗻𝘀 𝗹𝗶𝗸𝗲 𝗼𝗽𝗲𝗿𝗮𝘁𝗶𝗼𝗻𝘀

Monthly updates.
Documented process.
CRM with real pipeline visibility.

Most operators treat IR like an afterthought until they need to raise again.

The best ones treat it like asset management.

Across every raise I’ve looked at, the pattern holds:

Infrastructure beats pitch.

𝘐𝘧 𝘺𝘰𝘶’𝘳𝘦 𝘢𝘤𝘵𝘪𝘷𝘦𝘭𝘺 𝘳𝘢𝘪𝘴𝘪𝘯𝘨 $5𝘔+ 𝘢𝘯𝘥 𝘸𝘢𝘯𝘵 𝘢 𝘴𝘦𝘤𝘰𝘯𝘥 𝘴𝘦𝘵 𝘰𝘧 𝘦𝘺𝘦𝘴 𝘰𝘯 𝘺𝘰𝘶𝘳 𝘤𝘢𝘱𝘪𝘵𝘢𝘭 𝘪𝘯𝘧𝘳𝘢𝘴𝘵𝘳𝘶𝘤𝘵𝘶𝘳𝘦, 𝘐’𝘮 𝘰𝘱𝘦𝘯 𝘵𝘰 𝘢 𝘧𝘦𝘸 𝘤𝘰𝘯𝘷𝘦𝘳𝘴𝘢𝘵𝘪𝘰𝘯𝘴 𝘵𝘩𝘪𝘴 𝘮𝘰𝘯𝘵𝘩.

I thought the whole world was using AI already.

Then I zoomed out.

And noticed something nuts about this chart.

Do you see it?

Almost the entire thing is grey.

That grey represents billions of people who have never used AI.

Not once. Zip. Nada.

No ChatGPT.
No image generation.
No automation.

Nothing.

Meanwhile online it feels like the opposite.

Every day you see:

• a new AI model launch
• someone automating their company
• a teenager building a startup that tracks calories from photos

It creates the illusion that everyone is already miles ahead.

They’re not.

(Sorry, Aunt Debbie.)

Most people still think AI is:

“that thing that makes weird pictures”

or

“the robot that writes comments on LinkedIn.”

They’ve never seen what it looks like when AI becomes leverage.

The tiny corner of this chart?

That’s the group experimenting with it every day.

The builders.
The operators.
The people quietly compressing 10 hours of work into one.

Just out there making it happen.

And that’s where the real shift is happening.

Not in hype.

In workflow.

AI doesn’t have a competition problem yet.

It has an awareness problem.

Most of the world hasn’t even stepped onto the field.

Which means the edge right now isn’t technical brilliance.

It’s curiosity.

Open the tools.
Use them daily.
Experiment.

You don’t need to understand neural networks.

(Trust me… I don’t.)

You just need to be slightly earlier than the crowd.

And right now, the crowd is still figuring out what AI even is.

So the real question is…

Are you experimenting with AI in your work yet…

or still watching it happen from the sidelines?

Everyone’s debating whether this coffee shop’s AI surveillance is ethical...


Anna: 20 cups.
Olga: 3 cups.
John: Where is he?

Coffee. Customers. Company.  

Everything tracked by the minute. 

3.7 million people have opinions.

Meanwhile…

LPs writing $250K–$5M checks into $50M–$150M funds still get:

• Quarterly PDFs
• Retroactive performance
• Carefully worded updates

No real time visibility...
...No capital level transparency.

We can track barista productivity down to every Oatmilk Shaken Espresso.

But not investor capital down to the dollar?

Hmmmm...

The tech exists.

𝗧𝗵𝗲 𝗴𝗮𝗽 𝗶𝘀𝗻’𝘁 𝗰𝗮𝗽𝗮𝗯𝗶𝗹𝗶𝘁𝘆. 𝗜𝘁’𝘀 𝗽𝗿𝗶𝗼𝗿𝗶𝘁𝘆.

And the sponsors who close Fund II effortlessly?

They understand that visibility compounds trust.

P.S. Would you walk into a coffee shop that hides how it operates?

If I were a $50M+ sponsor using LinkedIn DMs to connect with investors, here's how I'd approach it.

𝟭. 𝗡𝗼 𝗽𝗶𝘁𝗰𝗵 𝗶𝗻 𝘁𝗵𝗲 𝗰𝗼𝗻𝗻𝗲𝗰𝘁𝗶𝗼𝗻 𝗿𝗲𝗾𝘂𝗲𝘀𝘁. 

A connection is a doorway, not a closing argument.

Most sponsors burn their first impression trying to explain the opportunity in 300 characters.

Serious operators build familiarity first.

𝟮. 𝗡𝗼 𝗽𝗶𝘁𝗰𝗵 𝗶𝗻 𝘁𝗵𝗲 𝗳𝗶𝗿𝘀𝘁 𝗺𝗲𝘀𝘀𝗮𝗴𝗲.

I'd start with positioning.

"Appreciate the connect. We're active in [strategy] and expanding relationships with investors aligned with that thesis. Are you currently allocating into opportunities like that, or mostly observing this cycle?"

That does three things:

• Establishes what you're building
• Signals growth (not need)
• Qualifies without begging

Positioning first. Question second.

Not the other way around.

𝟯. 𝗜 𝘄𝗼𝘂𝗹𝗱𝗻'𝘁 𝗺𝗮𝗸𝗲 𝗼𝘂𝘁𝗿𝗲𝗮𝗰𝗵 𝗱𝗲𝗮𝗹 𝗱𝗲𝗽𝗲𝗻𝗱𝗲𝗻𝘁.

If every DM is tied to a live raise, you're negotiating from urgency.

Serious sponsors build repeat touch points:

• Thoughtful content
• Market commentary
• Occasional investor updates

So when a deal is live, the conversation isn't cold.

𝟰. 𝗙𝗼𝗹𝗹𝗼𝘄-𝘂𝗽 𝗶𝘀 𝗻𝗲𝘄 𝗰𝗼𝗻𝘁𝗲𝘅𝘁, 𝗻𝗼𝘁 𝗮 𝗿𝗲𝗺𝗶𝗻𝗱𝗲𝗿.

Not: "Just checking in."

Instead, I'd add signal.

An update. A shift in thinking. A market observation. A closed deal. A deal we passed on.

Investors don't respond to pressure.

They respond to thoughtful operators.

Because capital doesn't move toward need.

It moves toward clarity, consistency, and conviction.

And here's the filter:

If you're uncomfortable reaching out to investors without a live deal…

You don't have a capital strategy.

You have a dependency.

The sponsors who scale capital treat outreach like a system.

Not an event.

If you're building that system and want a second set of eyes on your outreach DM me.

No pitch. Just a real conversation.

I went looking for a dive bar in Prague and ended up here...


Back in 2015 my brother got married in London.

After the wedding my family decided to extend the trip and visit Prague.

The group:

My grandma
My mom and dad
My Aunt Deb
And me, the young buck in his 20s

Day one we did the usual tourist stuff...

Charles Bridge.
Cinnamon strudel.
Cobblestone streets.

Then around 7 PM everyone went to bed.

Trip over.

I thought… there’s no way this is how Prague ends.

So like any guy in his 20s, I went searching for the coolest dive bar I could find.

After about an hour of digging through Yelp I found a place called Anonymous Bar.

The name alone hooked me.

Hidden.
Exclusive.
Mysterious.

(I’m game.)

I screenshotted the location on my iPhone 4 and headed out.

Started asking people.

Liquor store owner?
No idea.

Random locals?
Never heard of it.

Finally a hotel doorman pointed down a street and said in a thick Eastern European accent:

“Milstroff Street.”

Three minutes later I was walking down a dark alley under a massive stone arch between two dilapidated buildings.

No people.

Just a faint fluorescent streetlight on its last flicker.

At this point my gut instincts were saying…

This might be a bad idea.

But curiosity won.

Then I saw a guy wrestling wooden crates out of a rusted red hatchback.

I pointed and asked:

“Anonymous?”

He nodded.

Behind him were seven tea lights leading to a hidden door.

Inside?

A full 1920s speakeasy frozen in time.

Bartenders with waxed mustaches twisted to sharp points.
Candlelight flickering off copper fixtures.
Bossa Nova bleeding softly through the room.

The bartender handed me a DVD case.

Inside was a drink menu written entirely in code.

So, I pointed to something that looked like whiskey.

He made the drink with flames, smoke, and a full show.

Then he placed it in front of me…

Put a V for Vendetta mask on my face…
Pulled out a Polaroid camera…
And took this photo.

That photo exists because I went looking.

That’s it.
That’s the lesson.

Go looking.

P.S. What's the last thing you did just because curiosity won?

Senior Construction Project Manager @ VareCo

My company is Investor Acquisitions. 

In short, I help real estate executives attract LP investors. 

What I've found is the best operators in real estate often neglect marketing. 

Marketing is important enough to wish you were better but not important enough to take it on on your own. 

Put another way: If operations fall apart? 
You don't have a business to market. 
If marketing falls apart? 
You've survived this long without it. 

However, there's a catch 22 to this approach to marketing. 

The modern real estate sponsor, broker & lender needs marketing. 

They need to be known. 

Social media expedites 2 key aspects of deal making: 
1. Building awareness of you. 
2. Building trust in you. 

My business is taking the hard work of figuring social media out off your hands, & replacing it with all the benefits. 
1. Being trusted and known at scale. 
2. Generating quality leads. 
3. Raising capital/closing deals. 

The fun stuff that comes from being known. 

Whether you're the CEO, an executive team, or a broker, our team at Investor Acquisitions can level up your brand & content on LinkedIn. 

Our business is telling your story.

If this resonates with you, DM "Intro" to schedule an introduction call.

Cole Baker

Rondale Moore passed away today. 
We attended Purdue at the same time. 
The most electric player I've witnessed live. 

My favorite memory ever in college involved Rondale Moore. 

It was October 20, 2018, Purdue University was 3-3 and facing off against the undefeated number 2 team in the country, Ohio State University. 

It was the 4th quarter of the game. 

Terry McLaurin had just scored a touchdown to bring Ohio State within 2 scores with 4:40 to go in the game.  

For context, Purdue isn't that good at football. 
So when we have a lead?
I never really expect Purdue to keep that lead. 

But on 3&7, on the Ohio State 43 yard line, 
Rondale Moore made one of the most spectacular plays I've ever seen in my life. 
Breaking 2 tackles & spinning out of another for a touchdown. 
To all but seal the game for Purdue. 
Absolutely electric. 

I've never experienced the feeling of pure elation quite like I felt that night with Purdue vs. Ohio State. 

& Rondale was a huge part of that night. 

Rondale, you're an inspiration to me. 

Thank you for giving us your all. 

I pray for your family & friends. 
I pray for your soul. 
May God bless you, Rondale Moore.

I help real estate executives attract investors & build their brands | Trusted by 50 Firms | DM “Intro” to schedule a meeting with Investor Acquisitions

I did some door-knocking today. Did 13 doors. 

Here was the script I came up with in the car: 

"Hello my name is Cole Baker, I buy industrial buildings like this one, who can I speak with about submitting an offer to buy the property?"

Most conversations lasted less than a minute. 

Here were the results: 
• 1 firm no. 
• 3 properties didn't answer the door. 
• 3 phone numbers of owners.  
• 1 "come back tomorrow, the owner just left."  
• 5 "here's who to talk with but I don't have contact info." 

I even got a tour of one of the properties from an employee. 

My favorite interaction though was with an owner. 
Larry. 

Larry wasn't looking to sell, but here's what I asked him: 
"Are you looking to buy other buildings?" 

Larry perked up, & emphatically said "yes."

I got his number & will follow up. 

Day 1 in the books. 

About 2.5 hours of walking the streets of Denver. 
About half of that was hyping myself up to do the first knock. 
Then the second. 
But after about 5 I was getting excited about it. 

Means nearly nothing doing it 1 day, but figured I'd share. 
Looking forward to Day 2.

I spoke with an investor who replaced his $450,000/year tech job with a $50,000,000 real estate portfolio. 

Here's how he did it: 

1) He didn't want to rely on a boss

• There was not "accelerating" retirement. 
• He had to put in the time.
• This unsettled him pretty early on. 
• He had the stock options. 
• So he diversified. 

2) He didn't start small. 

• His first deal was a $1,000,000+ 8-unit deal. 
• He took the knowledge from conversations. 
• He took the knowledge from podcasts. 
• He took the knowledge from books. 
• Then...
• He implemented a value-add plan. 
• He remodeled the interior. 
• He updated the exterior. 
• He raised rents. 
• & refinanced. 

He still owns the asset today. 

Builds up the appreciation. 

Collects the cash flow. 

& the best part? 

No longer works a 9-5. 

P.S. What's the first thing you'd do when you achieve financial freedom?

Warren Buffett bought 49% of Berkshire Hathaway for approximately $8.3 million. 

60 years later…

The company is worth $998 Billion. 

Warren Buffett credits most of his early success to a mentor. 

Benjamin Graham. 

Buffett summed up Graham’s influence in 3 ways: 

1. Graham taught Buffett compassion for shareholders.
2. Graham taught Buffett the importance of generosity.
3. Graham taught Buffett the intricacies of investing.

Buffett credits Graham having been his greatest teacher. 

The greatest investor of our generation credits a mentor as the greatest influence for his success. 

Don’t overthink it. 

Find a mentor.

P.S. Tag your mentor in the comments below! Show 'em some love!

It took 1 year posting on LinkedIn to raise my first $1. 
It took 9 years before I started a profitable business. 
It took 24 years to find the woman I'd marry. 

All the good things we want take time & patience. 

Give yourself the grace to take that time.

I asked a lender (who has originated $23,000,000,000 worth of commercial real estate loans) 3 red flags to avoid in a general partner.

Here's what he said:

𝟭) 𝘼 𝙜𝙚𝙣𝙚𝙧𝙖𝙡 𝙥𝙖𝙧𝙩𝙣𝙚𝙧 (𝙂𝙋) 𝙬𝙞𝙩𝙝 𝙣𝙤 𝙘𝙖𝙥𝙞𝙩𝙖𝙡 𝙞𝙣 𝙩𝙝𝙚 𝙙𝙚𝙖𝙡.

- In his opinion, a GP must provide capital in the deal.
- It’s this simple: If a GP has no capital in the deal,
- They don’t have your best interest in mind.

𝟮) 𝘼 𝙂𝙋 𝙥𝙧𝙤𝙢𝙞𝙨𝙞𝙣𝙜 𝙜𝙧𝙚𝙖𝙩 𝙧𝙚𝙩𝙪𝙧𝙣𝙨 𝙬𝙞𝙩𝙝 𝙣𝙤 𝙚𝙭𝙥𝙚𝙧𝙞𝙚𝙣𝙘𝙚.

- You don’t want to hear what they promise.
- You want to hear what they’ve done.
- If they haven’t done very much, &
- They promise great returns?
- Run.

𝟯) 𝘼 𝙜𝙚𝙣𝙚𝙧𝙖𝙡 𝙥𝙖𝙧𝙩𝙣𝙚𝙧𝙨𝙝𝙞𝙥 𝙬𝙞𝙩𝙝 𝟱+ 𝙥𝙖𝙧𝙩𝙣𝙚𝙧𝙨

- In his opinion, teams shouldn’t exceed 3 GPs.
- When there are too many partners on a team,
- He questions the team’s ability to manage.

There’s no need to take on unnecessary risk.

Dismiss all GPs with these red flags.

P.S. What would you add to the list?

Dave Ramsey was a millionaire by the age of 27.
He owned $4,000,000+ in real estate in 1987. 
The next year? In 1988? He went bankrupt... 
He didn't stay there long though. 
Now? 
His company grosses $300,000,000 a year. 

Here's 2 lessons I've learned studying Dave Ramsey: 

1) Don't let your failures define you. 

• When Dave was bankrupt? He had a wife & kid too. 
• He had $0. No income. & a family to provide for. 
• BUT...
• He didn't let his failure define his story. 
• He got back to work. 

LESSON: 

To be great at anything, you will fail. Many times. 
If you want to build financial freedom?
If you want to build a business? 
Learn to fail. 

2) Sell what you believe in. 

• Dave is controversial for one main reason: 
• He hates debt. 
• A belief formed by the impact of the bankruptcy. 
• It also formed a passion for financial literacy. 
• More specifically, teaching others about it. 
• This passion?
•  It's the foundation of his business. 
• (A $300m per year business)

LESSON: 

Starting a business is really hard. 
But if you want to make it easier?
Believe in what you're selling. 

P.S. Which lesson sticks out most to you? 
P.S.S. What are your thoughts on Dave?

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I spoke to an operator who replaced his finance job income with income from a $3,000,000 real estate portfolio. 

Here's how he replaced his W-2 income: 

1) He was fed up with his current role. 

- He had invested in 8-units prior to his discontent. 
- But the discontent motivated him to step up. 
- & the motivation led to 3+ more deals. 

2) He was willing to take lots of risk. 

- At one point, he had $250,000+ in CC debt. 
- Between labor & material costs for projects. 
- He went ALL in building his portfolio. 

SIDE NOTE: 

This was back in 2019, 2020, 2021 where interest rates were low. He had 3-4 credit cards giving him 0% interest for an entire 12 months! WILD!

3) He leveraged the BRRRR method. 

- At the time, he wasn't utilizing any mentors. 
- Just podcasts, books and good ole action. 
- After each renovation, he'd refinance. 
- & redeploy the capital. 

I wouldn't recommend taking on that kind of credit card debt. 

But one thing was very clear speaking with him: 

He would do anything to make it happen. 

P.S. To what lengths would you go for financial freedom?

I knocked on 10 more doors today. 
Yesterday, it took 2.5 hours to do 13 doors. 
Today, it took me an hour & 15 minutes to do 10.  

Here were the "objective" results from today: 
• 2 firm "no's" from building owners who's own businesses were in the building.
• 2 businesses who rent, but who's key people in the know weren't around.
• 2 phone numbers of business owners who know the building owner.
• 4 properties no one was at I'll circle back to.

Here were the "subjective" results from today: 
• I noticed a measured improvement around the anxiety I felt yesterday about door knocking. 
• I was genuinely excited about the opportunity to meet people. 
• For the first time in a long time, 
• I noticed myself counting the small wins rather than focusing on losses or rather than focusing on the ultimate win I didn't have. 
• It's day 2, there's plenty of challenges to come. 
• But I'm feeling good about knowing that I am doing the work I need to do. 
• Which is also new to me. 

Day 2 in the books. Looking forward to Day 3.

I spoke to a GP who’s acquired $300,000,000 of CRE.
The last 10 years, 
He’s acquired every deal below 30% LTV. 
Here’s why:

In his career, the GP has acquired over 100 properties. 
During the GFC, 10 of his deals lost money. 

Here’s the exact reasoning he gave why:

- 9/10 of the assets were not his usual niche asset-type.
- 9/10 of the assets were not his usual business plan.  
- 3/10 of the assets were not his typical market. 

In other words:

- He tried to do deals he wasn’t familiar with.
- At the exact wrong time in the market.
- with investor capital. 
- He & his investors paid for that. 

LESSON:

- This goes for both limited partners and GPs. 
- Invest in assets & business plans you know. 
- Jon Gray of Blackstone put it this way: 
- “You don’t outsized returns without taking risk.”
- “But we take risk we understand.”
- Debt will amplify that risk. 

P.S. Did this lesson resonate with you? 
If so, comment below why it do! ⬇️

I spoke to an investor who owns a ~$250,000 SFR. 

The catch?

He & his wife are JV's with family members. 
He & his wife want to sell the SFR. 
Family wants to keep it. 

The way the deal is structured, they can't just sell the property...

They're stuck. 

This is a major downside to the JV structure. 

Here's 3 tips to avoid this in future deals: 

1) Identify the long term plan for each JV member. 
2) Have your attorney draft clear exit provisions.
3) Create an exit plan aligned w/ expectations. 

BONUS: 

4) Don't ever do deals with family???

Will this guarantee you avoid issue?
No. 
But it will provide options.

Curious to hear your experiences with JVs. 

Have you experienced something similar?

𝘛𝘩𝘪𝘴 𝘪𝘴 𝘯𝘰𝘵 𝘭𝘦𝘨𝘢𝘭 𝘢𝘥𝘷𝘪𝘤𝘦; 𝘢𝘭𝘸𝘢𝘺𝘴 𝘴𝘦𝘦𝘬 𝘨𝘶𝘪𝘥𝘢𝘯𝘤𝘦 𝘧𝘳𝘰𝘮 𝘢 𝘲𝘶𝘢𝘭𝘪𝘧𝘪𝘦𝘥 𝘢𝘵𝘵𝘰𝘳𝘯𝘦𝘺 𝘣𝘦𝘧𝘰𝘳𝘦 𝘧𝘪𝘯𝘢𝘭𝘪𝘻𝘪𝘯𝘨 𝘢𝘯𝘺 𝘥𝘰𝘤𝘶𝘮𝘦𝘯𝘵𝘴.

$400,000,000 in transaction volume as a broker. 
30,000+ followers on LinkedIn. 
0 leads. 

A (now) client approached me with a question: 
• "Can you improve my LinkedIn results?"
• "I get 15K impressions each week."
• "I post content every single day."
• "I already have a following."
• "But I don't get leads." 
• "What do I do?"

In the last few weeks alone, this same client set 35 meetings from 100K+ impressions. 

Only 12 weeks into working together. 

Even cooler? 

As a broker, he has 10,000's of people seeing the deals he's selling each week. 

(Talk about a competitive advantage for his clients selling a deal)

Here's the exact post schedule we use for his content: 

M: Deal Breakdown Post
T : Asset-Type Education Post
W: Promotional Post for an Active Deal
T : Famous Person Post
F : Personal Post/Deal Breakdown
S: Weekly Update Post
S: Personal Post. 

P.S. Was this helpful? Comment below with what was most helpful.

I asked an accountant (who managed the books for a sponsor with $200,000,000 in AUM) the best way an LP can identify a quality sponsor. 

What he told me actually blew me away: 

1) Ask the GP what % of their income from their investment firm is from acquisition fees. 

• If the GP answers over 50%, do not invest. 
• This GP is too reliant on acquiring real estate for their income.  
• & it's an indication they don't have sound operations. 
• You want the asset management fees, promotes, & other income to far out way compensation from acquisition fees. 

2) Ask the GP what their payroll is. 

• If the GP doesn't know the answer, run. 
• You track what you care about. 
• If they don't know their overhead cost, 
• & don't know the cost of their labor. 
• They don't care about the deal. 

3) Ask the GP what % of asset management fees they collect across their portfolio. 

• When an investment is in distress, the first bit of compensation to be turned off is the asset management fees. 
• If a sponsor owns 20 properties, & is collecting asset management fees from 95% of them? 
• That's a great indication the deals are being run well. 

I'm curious to hear your thoughts on these questions. 

P.S. I help limited partners place equity into real estate. 

If you're a limited partner & this resonated, let's talk.

I asked an investor (who owns $10,000,000 worth of mobile home parks) why they chose the asset class. 

Here's what she had to say: 

• Depreciation.
• A low basis.
• Cash flow.

1) depreciation

• The value of traditional real estate is in the structure. 
• With residential real estate, 
• The depreciation schedule is 27.5 years. 
• Within commercial real estate, 
• The depreciation schedule is 39 years. 
• For mobile home parks, it's a totally different asset. 
• Almost none of the value is in its structures. 
• Rather much of the value is in roads, utility lines, clubhouses, lighting, fencing, electrical, pads. 
• All items that have "shorter" lives in the eyes of the law. 

2) A low basis. 

• Everything is better when you buy at a low basis. 
• You have flexibility through market downturns.
• You have lower breakeven occupancy.
• Debt is cheaper.

3) Cash flow. 

• Especially if you structure the site in the correct manor. 
• Think renting the pad sites. 
• Rather than the mobile homes themselves. 
• Cash flow is what creates freedom. 
• & many investors want that. 

P.S. What's your opinion on invest in MHPs? 
I'm much more curious after the conversation with this operator.

I spoke to an investor with $120,000,000 in AUM. 
He raised $2,400,000 in equity this month alone. 
Is the "slump" over?

I've heard a lot of chatter about a lack of capital.
I've heard a lot of chatter about down markets.
I've heard a lot of chatter about a recession.

Yet, plenty of people out there are doing deals.

3 trends I'm seeing in CRE right now:  

1. Cash flow is king for accredited investors.

• I'm seeing more deals get funded with 1 focus. 
• Not value-add. Not development.
• Cash flow.

2. Development is king for family offices.

• The conversations I have with capital allocators. 
• RIAs, family offices, etc. 
• A lot of them are focused on developments. 
• I feel like this is contrary to the news. 
• Are you seeing the same thing? 

3. First time investors want to operate. 

• I've heard this a lot from experienced operators. 
• But I'm starting to experience it for myself now. 
• People who haven't invested in CRE before? 
• They want to buy, buy, buy. 

Curious to hear what's going on in your market? 

What trends seem to be bucking the news?

or what trends seem to be sticking?

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