In this episode, Wayne talks to Ruben Greth. This is his second time on the show! Ruben has a popular podcast about raising money for multi-family syndications called the Capital Raiser Show, where he learns from the best multi-family syndicators in the country. Ruben started in real estate by raising $625,000 of joint venture money from social media to buy small multi-family deals in Phoenix, Arizona. He is an expert in marketing, brand awareness, and capital raising.
In 2019, Ruben partnered with one of the top syndicators in the acquisitions of 190 units and has since become a fund manager who is building over $48 Million worth of subdivisions in Louisiana and Alabama and partnering with multiple select syndicators bringing equity, advisory and investor management.
Ruben is a managing partner of Legacy Acquisition, which is quickly becoming the premier build-to-rent and community builder in Arizona.
Topics on Today’s Episode:
- (0:45) Introducing and welcoming Ruben Greth.
- (1:45) Relationships and partnerships matter: Wayne and Ruben are partnering on a build-to-rent community, and Ruben has a new partnership with Richard Wilson. Networking benefits all parties.
- (3:30) Ruben Update. He is now in the process of co-authoring a book and is working on capital raising for 3 deals. There are 100-unit, 150-unit, and 220-unit 506(c) deals in the progress. He is involved in the leadership of Legacy Acquisition and working on a mentorship coaching program.
- (5:40) Ruben mentions the concept of teaching other capital raisers how to extract themselves out of the capital raising model to have others run the operations for them while they kick back and enjoy life.
- (6:03) Compare yourself, in a positive way, to who you were 1 year ago instead of comparing yourself to other people. Avoid unhealthy comparisons through social media.
- (7:30) The power of vision boards and intention statements to track and reach goals. Write your goals down and review them as often as possible, daily if you can.
- (10:20) Ruben talks about the process of speaking books into existence. Pros and cons of different methods.
- (13:25) Wayne discusses 2 main book topics that he would like to write about: 1. Passive investing education 2. Successful asset management.
- (16:24) Re-defining Success: Loving what you do, working less (not more), being 3-5 times more productive, and helping people along the way.
- (21:50) 2023 Goals in growth and scaling.
- (24:00) The current market landscape
- (24:32) An ABCD breakdown of multi-family subclass types.
- (25:00) The tough economic climate is forcing many investors to move into sub-niches such as: Built-to-rent, assisted living, RV parks, storage units, and mobile homes.
- (25:00) Market opportunities in built-to-rent development, whether vertical or single-family homes. Build-to-rent homes are beneficial for tenants, investors, and institutional buyers.
- (26:00) A synopsis of current built-to-rent market forces and opportunities.
- (30:00) Specific market is incredibly important for build-to-rent communities: Secondary, pro-growth cities facilitate on-time project completion with high desirability for renters.
- (35:47) Expected returns in a development project would allow you to double your money in a 5-year period.
- (36:00) Completion timing and renting rate differences for multi-family vertical and multi-family horizontal.
- (38:45) For people coming up in real estate syndication or asset management, Ruben recommends partnering with larger companies or funds to add value for all parties.
- (42:00) Partnering with a Managing Principal by bringing value to the table: Many prospective partners will ask, “How can I be of service to you?” Instead, up your game and ask, “What’s preventing you from scaling to 10x your current size?” Listen to the answer and find the way you can contribute and add value.
- (44:10) Ruben’s proudest moments of 2022: 1. Over 1.3 million Podcast Downloads 2. Partnership with Richard Wilson
- (45:00) Breaking Through limiting beliefs: Go out and do it, and don’t be afraid. Stop analysis paralysis and take some action in order to self-actualize.
Resources:
https://podcasts.apple.com/us/podcast/the-capital-raiser-show/id1478498436
https://capitalraisershow.com/
https://legacyacquisitions.com/
https://www.linkedin.com/in/rubengreth/
