How a Newbie Raised $6 Million in 30 Days with Josh Ferrari
Raising money for real estate can be daunting for many investors, especially when you are a newbie. How do you get people to trust you when you have no track record or credibility as an investor? These were the challenges facing Josh Ferrari when he went from a newbie to raising millions in just 30 days. apartment investor by raising $6 million in 30 days.
Josh is based in Mobile, Alabama, and has a background in aerospace. His first real estate deal was a house-hack, where he lived at the property and handled all of the renovations. He learned from that experience to scale up into commercial apartments. That deal faced multiple challenges, but raising capital was not one of them. In fact, even though he was new to the space, he managed to raise $6 million from his network.
Josh shares how he was able to raise so much money as a newbie investor with actionable tips that any investor can employ. He also covers the challenges he faced getting started as a newbie investor. He also highlights the Mobile market and why he sees opportunities there going forward.
Insights to Raise Millions as a Newbie Investor
Using podcasts, real estate meetups and a mentor to learn about multifamily real estate investing
House hacking (living in one of the units) and syndicating his first 4-unit property investment
The “syndication” portion of my first multifamily deal was from my parents and my brother-in-law.
Understanding FHA 203K loan restrictions and how it can affect your investment
The process and impact of firing contractors that tripled their timeline and doubled the budget.
How Josh finally closed on a 42-Unit multifamily syndication deal that was hit by two hurricanes
Working with brokers as a newbie in multifamily investing
When I asked brokers what I could do to beat my competition, as a newbie multifamily investor, their advice was to live in the market I was investing in.
The criteria Josh looks for in a good multifamily deal
The benefits of investing in the Mobile Alabama real estate market
The biggest challenge to raising capital as a newbie
Working with partners who have more experience and success
The power of Facebook live videos
How Josh was able to raise $6 million in 30 days during a money-raising challenge
I found that raising capital wasn’t difficult, you just had to be genuine and have the investors best interests in mind.
How to get and work referrals to raise capital
Apparent Failure: My first 4-unit wasn’t a success in my eyes, as I didn’t get what I wanted for my investors. But the experience and getting my feet wet in multifamily was priceless.
Hootsuite (social media marketing scheduler)
Most Recommended Book:
Extreme Ownership (Jocko Willink)
90-Day Intention Journal & Miracle Morning
The COVID vaccine
Wish I Knew When I Was Starting Out:
Raising money is easy, because it’s all about relationships
Best Place to Grab a Bite in Mobile, Alabama:
Get in Touch with Josh: