How do you become an elite capital raiser? The key is building the right relationships with the right people. Today’s guest is Adam Carswell, the co-founder of RaiseMasters, the number one mastermind for elite capital raisers. In this episode, he chats with hosts Ava Benesocky and August Biniaz to discuss strategies to help you find and make connections. Adam shares how joining a mastermind could help active investors with their capital-raising endeavors and guide passive investors looking to learn how real estate private equity firms raise capital. Don’t miss the learnings from this episode and get to know Adam’s journey and how he became a “Power Networker” by tuning in!
Get in touch with Adam Carswell:
If you are interested in learning more about passively investing in multifamily and Build-to-Rent properties, click here to schedule a call with the CPI Capital Team or contact us at email@example.com. If you like to Co-Syndicate and close on larger deal as a General Partner click here. You can read more about CPI Capital at https://www.cpicapital.ca. #avabenesocky #augustbiniaz #cpicapital
Watch the Episode here
Listen to the podcast here
- Liberland Show – Apple Podcasts
- Rich Dad Poor Dad
- Hunter Thompson
- Liberty Fund
- Cashflow Connections Mentorship Program
- Think and Grow Rich
- Myron Golden
- $5 Million in 30 Days Summit
- Magnetic Marketing
- Logan Freeman
- LinkedIn – Logan Freeman
- Dan Handford
- Jeffrey Gitomer
- Dream Chasers Episode 202 – Apple Podcasts
- Raising Capital for Real Estate
- LinkedIn – Adam Carswell
- Blockchain Real Estate Summit
About Adam Carswell
Adam J. Carswell is a real estate entrepreneur, LinkedIn Power-Networker, New Media Marketing Maverick, and known as the “Voice Of Liberty” for his work hosting the Liberland Show, Liberland 5th Anniversary, and the Chicago Blockchain Real Estate Collective. His expertise in social marketing and network management set him apart from the crowd. Adam is also a member of RaiseMasters, the #1 Mastermind for elite capital raisers, and is a Co-Founder of the Next Level Mastermind.
The #1 Mastermind For Elite Capital Raisers – Adam Carswell
I’m joined by the famous August Biniaz over here. You guys can please like and subscribe as it helps us build our channel and allows us to keep bringing you great content and incredible expert speakers like we have on our show, Adam Carswell.
I’m super excited about the show. We have a fellow Canadian who is a superstar in the US real estate private equity space. He’s a Cofounder of multiple different platforms, RaiseMasters being one of them.
I have to be honest with you, August. I’m a little bit more excited than you are because I’m going to pick Adam’s brain about how to be an elite capital raiser. My job here at CPI Capital is to bring in the money. I can’t wait to dive right into his brain and ask him some questions.
We are going to put him onto the gun, ask him a lot of questions, and bring a lot of value to ourselves and our audience. Please like and subscribe. This is not monetized. We put all our time to bring you amazing guests, organize that, come up with the questions, and research our guests. Please like and subscribe because that pays your fee for reading this. Let’s get right into it.
Before we say hi to Adam, I got to introduce him here because he has one of the best bios I have ever come across in my life. You guys are going to know how cool of a guy we are interviewing. Adam Carswell is a real estate entrepreneur and podcaster. He’s a LinkedIn power networker and a new media marketing maverick. His expertise in communication sets him apart from the crowd. He is the Cofounder of RaiseMasters, the number one mastermind for elite capital raisers.
Out of earned the moniker, The Voice of Liberty, and as the master of ceremonies at Liberland national events and hosting the nation’s podcast, the Liberland Show, he is also a cryptocurrency pioneer and the co-host of the Blockchain Real Estate Summit. Over the years, Adam has interviewed world leaders, such as Grant and leader Cardone, Doug Casey, Roger Ver, and G. Edward Griffin. Adam is also a former semi-pro basketball player and was inducted into the hall of fame at his alma mater for his accomplishments on the court, as well as on the track. Here’s a little fun tidbit about Adam. In his spare time, he’s training to become a world-class DJ.
Before we jump into things, we believe this interview with Adam will bring great value to active investors in learning how joining a mastermind could help them with their capital raising endeavors and passive investors looking to learn how real estate private equity firms raise capital. Adam, you are so cool. Welcome to our show.
It is an honor to be here. I got to let you guys know that I have been impressed with the work that you have put in over the past years. I remember when you first popped up on LinkedIn. I will be honest. I was like, “More people are out there making noise.” Who am I to say that? I’m out here pretty much doing the same thing, but you have been consistent. That is the one thing I can’t stress to anyone who’s looking to become a thought leader. When you show up every week, good things happen. If you are not already subscribed to this show, make sure you smash that like and subscribe button. They are putting in the work, and it’s a good duo to follow.
Thanks. We appreciate it. That means a lot coming from you.
Thanks, Adam. Meetings like this are usually paid engagements as it’s very similar to a coaching call. We believe our readers are going to gain great value by having you here. Thank you so much for taking the time and being here with us.Find one or two people that are somewhere in their life that you want to be and consume everything they have. It's even more valuable if you know that from a worldview perspective, you align with them. Click To Tweet
Before starting with our questions, you are located here in Canada. Tell us a little bit more about Canada, the US, and all this stuff. You are a superstar in the US real estate private equity space. Tell us about that connection, and then we will get into your background.
I live in St. John’s, Newfoundland, Canada, probably as far on the other side of the country as I can get from you guys now. I began a digital nomad journey here in 2019 that never ended with my wife here. I’m originally from Cleveland, Ohio. I played basketball growing up and also ran track and field throughout high school and college. I had a good career on both the track and on the court. I took my talents to Belize and went, played, and coached basketball in Central America for a couple of years. After that, I realized I did not want to pursue a future in coaching, which was why I did that in the first place.
At that stage in life, I was 23. I had gotten my Master’s degree. I want to do the American dream. I want to get a job with a Fortune 500 and work my way up the corporate ladder like my parents always dreamed. At Sherwin-Williams, a paint company, I got a job with them in the Washington DC area and managed stores for them. It was a blast. Anyone who knows me knows I was all in for Sherwin-Williams, but I quickly uncovered the people leading me and that I wanted to be like one day who were making six figures, still working 80-hour weeks.
Not to be a millionaire, billionaire, or trillionaire is the ultimate goal in life, but you create more options for yourself the more wealth you have. I realized, “If I want to take life into my own hands, I have to pursue entrepreneurship.” It seems like the most guaranteed way to success in entrepreneurship was either real estate or tech. I read Rich Dad Poor Dad twice and became a real estate agent. Fast forward, about a couple of years, I’m working alongside guys like Hunter Thompson. It’s been a fun journey, and it can do it from anywhere, which is cool. We are going to be moving to Calgary soon too, which isn’t too far from you guys.
It was a great business city. A lot of entrepreneurs come out of Calgary.
I found this out. The most millionaires per capita in major Canadian cities, Calgary is number one.
Their economy is a bit oil-based, but with the rising prices of oil and being an oil-dependent economy, that is changing there. The government there is trying to bring in a lot of other initiatives to bring other types of businesses there. I’m bullish about Calgary long-term.
Let’s dive into what we do, and that’s real estate private equity. Start by telling our readers a bit about your background and then start in real estate private equity.
There’s an important disclaimer to throw out there. I am not what I would consider a traditional capital raiser. I have played an Investor Relations role at Asym Capital. We have built this mastermind where, operationally speaking and internally, I’m the glue for RaiseMasters. For anyone reading now who is not familiar with who Hunter Thompson is, over the past decades, the company has raised a little over $60 million now and closing in on $70 million. A lot of what I have done working with Hunter has been a conduit of bringing capital, bringing investors to our company, and leaving technicalities to him. Tyler Lyon is our Director of Investments.
I know a thing or two about influencing people through communication, getting them across the finish line, and attracting capital to Asym and our environment. I want to say that so that way, no one thinks I’m coming in here saying, “Adam has raised $100 million. Listen to his secrets.” I know the secrets of communication. My story is I was working in a paint store or managing stores in Washington, DC, thinking there’s got to be more to life. I read Rich Dad Poor Dad twice. I went and pursued my real estate license in Washington, Virginia, in Maryland, and got started with RE/MAX Distinctive. A big shout out to my broker when I first got started, Andrew Reimer.
For those who are familiar with the brokerage side of residential, when you get in, you don’t just join RE/MAX. That’s something where you have been in the game for a decade, and then you joined RE/MAX. I was grateful for whatever he saw in me. He was like, “We are going to give this kid a chance.” It worked out very well. During that time, when I had quit my job, all of a sudden, there was so much time that I had available to dive into self-education in a way that I had never done in my life before, and I started going down all these YouTube rabbit holes. Like some of you who are reading this, you are going down in these educational rabbit holes, hoping to find a gold nugget. This is one for you.
I found Hunter on a podcast, and I’m like, “I want to be like this guy.” I only knew residential at the time, but I was like, “I want to figure out how to get into commercial real estate. It seems like a 9:00 to 5:00 environment.” I can take the weekends off because even when I have gone into residential, I’m waiting for clients to get done with their day jobs, showing houses into the night, and writing contracts at 3:00 AM on a Saturday. Sorry, that wasn’t for me. I saw what was possible in the world of raising money and aligning with someone like Hunter and another good friend of mine who is someone I have worked closely with, Michael Flight, the CEO of Liberty Fund.
Partnering up with those two has completely changed the trajectory of my life. That’s why I was saying it’s being able to leverage what you are good at, and being able to leverage communication and networking, which I have been able to get over the past couple of years, is something that might take someone 10 to 20 years without the power of the internet or LinkedIn. I’m looking forward to sharing everything we can here with you guys.
I want to briefly touch on it. This is not part of our question. A question that came up is that you are in the real estate space as a broker. You want to scale. You are curious about what else exists. You see Hunter on a show. How does that go from seeing somebody online to you aligning with them and eventually co-founding a company with them? That’s huge because a lot of people put these limitations on themselves when they see a thought leader out there.
They might not even send an email because they feel like, “I can’t. This person is on such a higher level than me.” How did that come up? That process in itself is huge because it’s going into a mentor-mentee situation and building your way up, showing so much potential that the person’s like, “Come on board and partner up with me.” Tell us about that dynamic. It’s very important.
I’m so grateful for it. I’m happy you have taken a moment to zoom in on this. I’m here to say it is achievable for anyone who’s reading. The way that it happened was I was scouring YouTube, going through all this content. There was one channel that I followed that, quite frankly, was a lot more focused on worldview stuff. Hunter and I like to joke where like, “Your friendly neighborhood anarchists were not big fans of government.” Hunter was on this show that was not typical for someone like him to come on. He was probably the most buttoned-up person to come on this show ever. I was like, “This guy sees the world through the same lens I do. He’s in commercial real estate. This is insane. I got to reach out to him.”
Part of it was good timing because he was starting to consider getting into the world of education at this point. He said out of the 15,000 to 20,000 downloads that the show got, surprisingly, I was the only person that reached out to him after. This is before he even thought that he was going to start teaching people. I’m like, “What can I do to add value to you? You are a few levels ahead of me. What can I do?” He’s like, “If you want to introduce me to the ten wealthiest people in your network, that’s a good start.”
I looked at my Rolodex then compared to now, which is 100X. I’m scrapping through all these people I that know might have maybe $50,000 to invest. Probably 4 out of the 10 could even qualify. I introduced him to all of them. I don’t even know where all those relationships went, but my broker at RE/MAX, Andrew Reimer, was one of the people I introduced him to. I remember walking into our office one day, and he goes, “I talked to that Hunter guy you introduced me to. Keep hanging out with people like that.” I’m like, “Okay.” I had over a 2 to 3-week period, followed up with Hunter and said, “If there’s any way I can work for you or whatever, let me know.”
He came back about a month later and was like, “I’m working on putting together this program via the Cashflow Connections Mentorship Program. Is this something you would be interested in?” That was like Michael Jordan saying, “I need someone to come play on this team. Do you want to play?” It was a yes. I’m like, “Where do I sign?” That was also when I realized the power of investing in yourself. At that time, it was $2,000. It was 50% off of what we ended up eventually selling the program for. Four other people and I went through that course. I was probably the only one in there that didn’t even know what an asset class was when the course started. I just continued to hang on for dear life.
After we finished, we did a couple of follow-up calls. There are the two things that Hunter said to me that I still think about nowadays. One was, “Did you have a podcast? Why are you not releasing an episode per week?” This is 2017. I’m like, “I don’t know.” He’s like, “You should do that.” I have not let go of that advice ever since. It served me and everyone in our network very well. The other thing was, “I’m going to a conference in June. I need someone to man the booth. I don’t have anyone. Would you be interested?” That was another Michael Jordan invite moment. I’m like, “I will be there.” He might have helped me pay for my hotel. I fly out there and all that stuff when I barely have two pennies to rub together. We have been best friends ever since.We want to be competitive, but we want to bring everyone up at the same time. That’s our approach. Click To Tweet
That was an incredible journey. For all the young entrepreneurs out there that are looking to make it in a certain business, it doesn’t even have to be real estate, but be laser-focused on somebody you look up to and try to connect with them. The book we are reading now, Think and Grow Rich, is the same idea. I forgot his name, but he wants to connect with Edison. Edison is at this time at the pinnacle of success when it comes to building new machinery and new devices. This guy makes it his life mission. The book goes over that in the first few chapters.
Adam said, “Hold on for your life and keep going.”
This is a piece of advice that I got from Hunter. I had unintentionally done what he was recommending to some people in our group. You don’t want to overwhelm yourself. Find 1 or 2 people that are somewhere in their life that you know you want to be. It’s even more valuable if you know that from a worldview perspective that you align with them and consume everything they have.
After you have consumed everything they have, go back through it and pursue that person. Eventually, you will be sitting there right next to them. If something happens along the way and you see another direction you want to go once you have gotten there, pivot and then pursue that next model or whoever it is that you are looking to pursue.
That’s a valuable piece of advice. I did that with a gentleman named Myron Golden, who’s arguably the greatest communicator salesman that I have ever come across. A lot of his teachings help individuals in the ClickFunnels community, which is an Inner Circle of Hunter and me with Russell Brunson. He helps all of those people learn how to sell from the stage. There’s a reason why they will come back to him. If there’s anyone I’m studying very hardcore now that I wouldn’t be surprised if I will be giving him a hug soon, even though we have never met, is Myron Golden, a communication and sales master.
Let’s get through the next question. You bring up Russell Brunson. That was our next question. Before getting into capital raising and real estate private equity lists, let’s discuss sales and marketing. Most of us have seen Russell Brunson on our YouTube feed and the concept of sale funnels. Could you please explain what’s sales funnels are and how could this concept of a sales funnel will be utilized in different businesses, including real estate private equity?
Here’s the interesting question that we get a lot from those who are interested in joining RaiseMasters. Maybe it’s not one specific question, but they are tied to ClickFunnels because people see we have had success using that platform. Before I dive into that point, let me say something about Russell Brunson. Maybe we are a little bit biased because we are in his inner circle, but I’d say he’s paving the way for marketing for all entrepreneurs now. If you are not familiar with who he is, let’s see what’s the best way.
If you are not familiar with them, look back at the people you watch. If you see a record that looks like an award behind them, that means they were connected in some way to Russell Brunson. I have seen this in all different businesses. I have seen on LinkedIn that you and Hunter Thompson got that award from Russell Brunson onstage.
We won the Two Comma Club Award, which was over $1 million in revenue generated using the platform Clickfunnels. Let’s get back to the other point I was going to make. On the capital raising front, a lot of people come to us thinking that we are using ClickFunnels to attract and convert investors when in reality, we aren’t. The only way you can perceive that is we have done a couple of summits. We have done $5 Million in 30 Days Summit. We have got a new one coming up here. It’s 100KToInvest.com. You can check that one out. We have leveraged ClickFunnels to attract passive investors in that way.
Aside from that, on the capital raising front, a lot of the methods that we practice at Asym Capital and that we educate and encourage our members to pursue are all completely organic. There’s nothing to do with ClickFunnels. ClickFunnels is something that we have had success with, attracting capital raisers to us for RaiseMasters. With that, we learned a lot of things about the platform that I’d be happy to share and dive into. I want to let our readers know that if you are looking to create an educational product or service, I would recommend ClickFunnels, not necessarily for attracting passive investors piece, although it can be done.
ClickFunnels also can be utilized within the onboarding process of an investor, seeing your content somewhere, getting into your funnel somehow, and receiving a workflow of emails. Could some of those fundamentals be used within that investor journey coming into your community?
You are right. It can. What I would encourage to anyone who wants to leverage this to attract passive investors. We do it all the time too. It’s encouraged within the ClickFunnels community, which is going to hack our funnel. What I mean is go to RaisingCapitalForRealEstate.com. See what happens to you when you click yes to everything. Maybe buy the $100 offer or whatever it might be, and see where our funnels take you. Model after what works. We want to take everyone to the next level.
That’s something that holds a lot of entrepreneurs back, especially in commercial real estate. This used to be a business of the good old boys and country clubs. What Hunter has done, and I’m grateful for, has waved that mindset and is like, “From a competitive perspective, we want to be competitive, but we want to bring everyone up at the same time.” That’s our approach. It’s RaisingCapitalForRealEstate.com, 100KToInvest.com, and 5MillionIn30Days.com. If you want to do this, go ahead and buy that bonus package.
Buy Hunter Thompson’s book because that’s a book I read twice. I might have read it three times. It is US-focused. We are here in Canada, so there are some regulatory and other items that are different here in Canada, but we raised equity from both Canadians.
I want to say thank you guys for the opportunities you are providing for Canadians. Personally, I don’t see what you guys are doing as often as I would like to. Before I forget, let me say thank you for that.
It’s a huge amount. There’s a lot of money here in Canada. There are billions of dollars being invested on the institutional side already from Canada to the US Canadian pension fund partner Greystar. There’s a lot of equity going in that direction already. There’s a quick point that I wanted to add about Russell Brunson and the ClickFunnels and those items. Russell Brunson comes from the school of Magnetic Marketing. That’s a great book to read.
You are in the educational business of teaching how people can raise capital. What would be the first step a real estate investment firm should take? Equity is a very important part of a real estate private equity firm. What is the first step they need to take? In our business, we have this unknown, which is, “Is it the deal first or equity first?” It’s like chicken and egg. Which comes first, the equity or the deal? Talk to us about this and on that educational journey.
You made a great point. When you asked Hunter, “How can I add value to you?” He right away said, “Who are the richest people in your network? Connect me with them.” Is it the same logic when it comes to an actual real estate investment firm? How do they grow and start? Talk to us about that journey. What should they do first?
I’m going to do the unsolicited marketing plug, which is to go to RaiseMasters.com and join the party. Aside from that, there are a lot of different ways you can unpack this and answer it. I’m going to give two that are coming to mind for me now. The first one is you need to be clear on who you have been called to serve and what it is that’s motivating you on a daily basis to get out of bed and do bigger deals. I say that because I have done hundreds of phone calls with capital raisers who are interested in joining our group.
With the people that come in, everything seems to click. They make friends and grow their business. They are the ones who know the individuals and groups that they are serving outside of their real estate business. We probably heard this a billion times. You are going to hear it a billion and one. Get clear on your why, your purpose, and who you have been called to serve.You really need to be clear on who you've been called to serve and what it is that's really motivating you on a daily basis to get out of bed and do bigger and bigger deals. Click To Tweet
Is that fair to say recognize your avatar, who is the exact person your services would perfectly align with?
Yes. I will even give you a little avatar hack right here. I got this again from Hunter, and it works very well for us. It’s Logan Freeman, who many people in our circle probably know. Serving Logan, that’s what we want to create to create this group around. From that came everything else. A hack for your avatar is to identify that one person that you know. We didn’t call Logan up and say, “We are building this for you.” Between Hunter and I, it’s people like Logan who we want to serve here. That’s a helpful avatar hack that we have got.
That’s a pretty sophisticated guy there, Logan Freeman. We had him on our show. If he invests with you, you are in a pretty good position.
I love Logan. Free plug. Check out, Logan Freeman. He’s very active on LinkedIn too. It’s a great place to reach out to him. Tell him that you know August and me. I want to be clear on this one. This is a recommendation, but from seeing hundreds and hundreds of real estate entrepreneurs and business owners across the spectrum of entrepreneurship, the businesses that grow and move the fastest are the ones that have created a platform similar to what you guys have with this show that allows other people to come on and shine and also using that platform to communicate with the people in their network.
I had a call with someone right before we got on here who’s having a little bit of imposter syndrome and is thinking about becoming a thought leader. I know it seems like everyone and their grandma is one now. I’m here to tell you, from seeing it over and over again, the people who grow the fastest tend to be the ones who have said, “I’m going to do it. I’m going to press record. I’m going to turn the camera on. I’m going to get on the microphone. Let’s make it happen.” Guess what? Version one is better than version none. I am here to tell you that there are other ways to do this thing, but the one that continuously seems to work again and again are the people who show up, get on camera, get in front of a microphone, and are consistent with it.
There’s a golden nugget there that you mentioned. It’s not only creating a thought leadership platform and creating content but letting others shine. That is huge right there because that’s an abundance mindset. That is how we connected with our mentor, Dan Handford. He’s bringing other syndicators and talking about their success in the deals they have closed. I’m like, “That goes against all logic. He’s bringing his competition to his show to promote them. How does this work?”
It was a switch in my mind because it’s my business as a contractor. I connected with other contractors, but the environment I was in was not very helpful. Nobody gave a lending hand to me. Nobody would even introduce me to a contractor or a plumber, let alone come and give me the blueprint. When I saw Dan Handford, he was giving the blueprint on how to build a real estate private equity firm. You can all see his trajectory of where he’s been, which is well over $1 billion. We have partnered with them in a couple of deals. He’s a tremendous guy and individual. It goes to that point you made that letting others shine on your platform and creating content. It’s a very important point.
He has done a great job with it as well. He doesn’t even host his own podcast. He has other hosts shining and bringing on guests. It’s a big deal when you go on his show.
I’m excited to jump into this one because, at CPI Capital, we talk about the investor’s journey of the know, like, and trust. Let’s discuss the perfect investor journey. The investor sees the real estate private equity group’s content, and the know starts there. How do you take them to the like and eventually to the trust where they end up investing?
August, I think I saw you in one of our RaiseMasters webinars. I got to do the myth-busting moment with you here, which is people think, “You just go pitch deals to those who know, like, and trust you.” That’s not true because you need people to be obsessed with you to give you their money. They need to be reading your blogs when it comes out all the time to get to that level of, “Here’s $50,000, $100,000, or $200,000.” Can we recycle the question here real quick? It’s because I want to make sure it’s as laser-focused as possible. What’s the specific question?
We create content, and the investor sees and watches us on YouTube. They create that know. How do you take them to the like and eventually to the trust where they invest with you?
The investor journey triad is the know, like, and trust for somebody to invest with you. It continually and perpetually moves because if they invest with you, they are going to introduce others to invest with you. They will reinvest with you. We got the know. The know is to create content. You are seen everywhere. You create a lot of content, refurbish that content, and become thought leaders in the space. For example, with us is Canadians investing in US multifamily. You just Google that word, and it will come up there somewhere.
We have achieved the know. How do you get them to like you, trust you, to eventually give their hard-earned money to you? In real estate private equity, essentially, what you are saying is, “Give me your money. I will go on and invest with it in what I think is right. There is potentially some risk involved, and you have no say. You are an LP.” How do you gain that much trust within that journey and do it in a reasonable time? Talk to us about that journey of what you have advised others or what you have seen others excel at.
The recommendation here has to be the one I have lived on because I have seen different strategies work. The biggest piece here is if you don’t already have an email list that you are managing, growing, and attracting leads to, you have to. If you are raising money and don’t have an email list, start now.
It’s CRM and nurture. You got to know those two words.
We do it on a weekly basis.
There’s a cool concept that Hunter goes into depth in within RaiseMasters called the Infinite Honeymoon Sequence, which we don’t have time for it here, but it’s to your point of nurturing. What has worked best for me is showing up every week doing the podcast and getting an email out to your list once per week. Richard Wilson from CommercialRealEstate.com is a good friend of ours. He shared a nugget with our group when he came to speak, which was, “If you can show up in someone’s email inbox consistently for 1 to 3 years, you will become a regional expert. If you can show up in someone’s inbox from 3 to 5 years, you become national. If you can send an email to your list once per week for seven years, that’s when you get to that international level.”
He got that from Jeffrey Gitomer, who’s a very famous sales thought leader. If you haven’t heard of him, that’s someone I would recommend checking out as well. You create this funnel. At Asym Capital, we call it the AENC System, Attract, Educate, Nurture, Close. We have mentioned it multiple times now. You can check out Hunter’s book if you want to see the AENC broken down. The close piece, which is what I enjoy the most, is once you have that phone call and get who it is that you have been looking to serve or have a conversation with, it’s getting clear. Maybe they read your blogs. Maybe they are obsessed with you. Maybe at that point, oftentimes, they are like, “Where do I send the money?”
If they want to vet you as a capital raiser and get to know you, it comes down to one thing. I even wrote it down here. It’s all about the payoff. What that means is figuring out what it is that inspired that investor to get on the phone with you and have that phone call. There’s something there. There is a payoff that they are looking for. If you can get clear on what their payoff is and deliver that for them, that’s the ultimate secret here. I can’t help but stress how important it is to focus on listening and figuring out, “What does the payoff look like for this person? Why did they want to talk to me in the first place?” You can be like, “Here it is on a silver platter. Here you go.”
Is wording that differently could also be said what’s in it for them and what is their pain point that you are solving? Those are the way we describe this concept.What is it that inspired that investor to get on the phone with you and have that phone call? Because there is a payoff that they're looking for, and if you can get clear on what their payoff is and deliver that for them, that's the ultimate secret. Click To Tweet
Pain points are powerful. I don’t know chronologically where you would want to fit this into a conversation, but it’s something that I would suggest thinking about. I want to use the RaiseMasters sales process as an example. There is some pain point that all capital raisers and investors have. When I’m on the phone with someone, and I want to grab their attention, if I’m able to say, “What is your online presence look like? What are you doing to attract cold leads and convert them?” even if someone’s doing a good job of that, that’s a pain point that we all want to keep getting better at. Figuring out what that one pain point is to draw someone in and establish yourself as an authority is a good way to show you know what you are talking about and get them that end goal and desire they are looking for.
I want to touch on something quickly because I have the man himself here with me. You mentioned you leveraged communication. That’s a key thing that you focus on. Tell me. What makes a good communicator?
A good communicator is someone who remembers that you have 2 ears and 1 mouth first. It circles back to that payoff piece, listening to someone and figuring out how I can add value to them when you are in a networking environment. It doesn’t even need to be in networking. It can be just conversational. One powerful question to always ask people and also serve, help, and get them thinking is, “What is that one connection, resource, tool, or one thing that you need now in your life that could double the size of your business that could 2X, 3X, or 4X your quality of life now?” Everyone is one idea or connection away from where they want to be.
It’s not just asking that, but truly caring and making a mental note of it. You will sometimes find that someone will tell you what they need, and maybe you don’t have a resource, tool, or connection for them, but the universe will manifest that result for you. Maybe a week later, someone said they needed a plumber, even though he didn’t know any, but you happened to run into a plumber at the store like, “I know someone.” You said something about plumbing contracting, which is why I thought of it. That’s what makes a great communicator. It’s someone who’s willing to serve first and get people to where they want to go faster.
There are quick questions here before we move on. I had a question, and this might be a bit confusing, but it’s about an investor culture. For example, we are trying to create some cultures here within CPI. One of them is about communication. The idea is to get back to investors in an extremely fast timeline. We initially had a matter of a few hours, but now it’s within 24 hours getting back to investors.
Is that a type of advice that you guys provide as well to people going through your program where after the deal closed, communications would invest in the importance of it? If you find it, you did all this work and content. It raised capital and did a deal, but now if you drop the ball after the deal closes under communications or anything else. You are not going to have that perpetualness of the journey. Is there any advice you have about this topic?
To answer your question about what we have created and are providing, the answer is yes. We have the email swipe files we have used for the past decade. We are always tweaking and making them better. From a communication perspective, there is a cadence that us and a lot of our members follow specifically. I’m not able to go into a whole lot of detail on it now because we are limited on time. I leave most of that to Hunter. What I can say is you want to keep that communication as frequent as possible. You don’t have to be emailing your investors every day. Most of them are super busy. They don’t want to be bugged every day.
Here’s one thing I have seen in a lot of entrepreneurs. This is more just entrepreneurship, which is the email list strategy. If someone isn’t responding to you or opening your emails, you have to be okay with accepting that because it’s probably not a personal thing. We are all busy. That’s coming to mind for me now. As far as when the deal closes, it is important to get that message out, oversubscribe, and be on the lookout for the next one. This is me thinking off the top of my head now. I don’t think it would hurt you too much. If you happen to go a little bit past 24 hours and if it was 2 days later or whatever, it’s okay. The more punctual you can be, the more we normally serve you.
How about the idea of creating these types of cultures when it comes maybe not only to invest your communications but other types of cultures? Is that something you have got to know within your journey in business and being involved in different organizations and companies?
From a cultural perspective with investors, we understand in this world of marketing that there are some people that don’t like the, “It’s coming. Hurry up. Click now. You missed it.” That does turn some people off. What we have found is it gets the job done. I have had RaiseMasters as an example of it. There are a few follow-up emails that we send out, “You got 48 hours to get back to me,” which is true sometimes. Some are like, “That’s too salesy.” I understand it. I get it. This is what works, and we are going to keep doing what works. Keep that in mind.
We have someone who raised $16 million in one day. Granted, he’s been in the game for many years, but one of his biggest concerns even before joining RaiseMasters is like, “How do I do this without being spammy? I have worked many years on this email list. The last thing I want them to think is I’m some marketing weird person.” He followed the playbook, and that’s the best raise he’s ever had, $16 million in one day. He will say it in the interview. You can go to Dream Chasers Episode 202 on our platform. He was concerned about the being spammy. You can get a glimpse at our playbook through Hunter’s book. That is a formula that works without being spammy, which is important for the culture.
We are under the gun here with the time. I will ask you one brief very quick question before we get to the next thing. What advice do you have to a passive investor looking to start investing in real estate private equity or these syndicated investments?
It’s important to get clear on your goals and where you want to be in 3, 4, and 5 years. As far as getting started, here’s one thing that has stuck with me for the past years or so. I heard someone say, “The wealthiest people in the world, at the end of the day, invest in business plans and people.” I’m like, “That’s simple and makes a lot of sense.” Identify from a human connection perspective which it is that you as an investor resonate with their message and who they are.
I’m going to go ahead and endorse. I have Ava and August now. If you like these crazy Canucks, get to know them. Go through all of their stuff and do your research and homework. Get educated before making any passive investment, figuring out who you align with. I’m sure you guys provide a business plan, future forecast, and everything. Get to know them as an example or whoever else you could compare to Ava and August.
That’s amazing advice. Thank you.
Are you ready for the next segment of our show? It’s the Ten Championship Rounds to Financial Freedom. It’s whatever comes top of mind. Number one, who was the most influential person in your life?
Mike Carswell. I know that’s a little bit cliché. A lot of people like to give a shout-out to their dad. My dad is from the hood, East Side of Cleveland. Basketball was his ticket out of the hood. Basketball was my ticket to see the world. He’s been married to my mom for many years now. It’s an interracial marriage, which is pretty rare and awesome. It’s Papa Carswell all the way.
What is the number one book you’d recommend?
I’m going to go with Raising Capital for Real Estate, Hunter’s book. You read Rich Dad Poor Dad, you read Hunter’s book, and you start going.
If you are in real estate investing and don’t have any need for equity now, that need will come if you are good at doing what you are doing in real estate investing. If you are in real estate investing, that is one of the fundamental books you need to have on your shelf at all times.
There is some pain point that all capital raisers and all investors have. Click To Tweet
It can give you a lot of epiphanies.
If you had the opportunity to travel back in time, what advice would you give your younger self?
Keep going. Don’t stop. There are going to be times when you think you should quit on whatever venture you are pursuing. Stick with it. Most of us are not willing to endure being bad long enough to become good. Pick what you are willing to be bad at for a little bit so that way you can become a master.
I heard you saying that on a different show.
That’s one of my favorite quotes. That’s why I keep saying it.
What is the best investment you have ever made?
It’s the one I referenced earlier which was when I barely had any money in the account but scrapped up $2,000 to invest in learning from Hunter. That’s paid 1,000X if not more at this point.
What’s the worst investment you have ever made, and what lessons did you learn from it?
I was a victim of the multi-level marketing thing at one point. It wasn’t a bad investment because I look back at the journey that was created in my life for a 3 or 4-month window. It now gives me an admiration for those who are in MLM because those are entrepreneurs. They are trying to make things better and take life into their own hands. I invested in an MLM a few years ago, and there are battle scars onward and upward.
Those guys are hustlers. They have no qualms in calling you, messaging, and becoming your best friend to get you part of that whole system of how all that works.
How much would you need in the bank to retire now? What’s your number?
There have been trillionaires before in the world. The Shah of Iran was a trillionaire. Some say that the Saudi King is a trillionaire.
In my personal brand, we created a shirt that says, “Trillionaire in the making.” I’m going to put it here if you guys want to circulate it. With the amount of money that the Fed printed in the past years, it sounds funny, but I wouldn’t be shocked to see more trillionaires popping up in the next decade.
If you could have dinner with someone dead or alive, who would it be?
Kanye. He’s someone who’s very misunderstood. I believe he’s one of the massive geniuses of this day and age. I would love to tap into his energy.
If you weren’t doing what you are doing today, what would you be doing now?
I would probably be flying somewhere warm with a beach and playing some Super Mario video game. We will call it Super Mario Strikers.
Book smarts or street smarts?
Street, all day. I’m curious to know. Does anyone ever say books smarts?Everyone is one idea or connection away from where they want to be. Click To Tweet
Rarely, yes. I would say probably 5%. Maybe 2.5%. The more educated our guests are, the more adamant they are on this concept of street smarts.
If you had $1 million cash and had to make one investment now, what would it be?
I’m going to make an emphasis on this question. It’s a very particular question. It says, “You got $1 million cash. It’s liquid, yet you can make only one investment, and you have to deploy it now.” Nowadays, the markets are still open. I love this question. I might even have to recycle it for my show. I understand this is a bit crazy, but I don’t care. I’m going with Bitcoin.
It’s one of the most common answers we have had on our show. You are not far off from what very well-experienced and established business people are saying. It’s shocking to me that a lot of people who were involved in real estate, until they were saying, “That was great. I appreciate it. We were excited that we had you on.”
This is so much fun. Here’s the last question. What’s the best way that people can reach you?
I have put a lot of thought into this. I got to go with RaiseMasters.com. Here’s why. If you go there, you will be one of our members. You can log right into your portal. Number two, if you are not, you will see that we have got a webinar coming up that you can attend. It’s RaiseMasters.com because I want to be able to serve you and anyone else here who’s reading into my highest and best potential. That is the best way to do so. You can find me on LinkedIn and wherever. Feel free to reach out. If there’s one call to action I could give you, come join the party at RaiseMasters.
We appreciate it.
Thank you so much for sharing so many, not 1, 2, or 3, but 30 golden nuggets with us.
Thank you guys for all the hard work you put in. I appreciate it.