Matt Skinner started as a general contractor and graduated into development and syndication in early 2000. When the market crashed, he found multifamily investing and has never looked back. He loves that apartment ownership provides cash flow, tax benef...
Matt Skinner started as a general contractor and graduated into development and syndication in early 2000. When the market crashed, he found multifamily investing and has never looked back. He loves that apartment ownership provides cash flow, tax benefits, and growth.
In this episode, Matt shares why he thinks you should focus on one market and become an expert in it, and how doing so makes it easy to attract the capital you need.
Checkout: Raising Capital Without Rejection Full-Day Workshop (Online): https://investorattractionworkshop.com/
What you’ll learn in just 17 minutes from today’s episode:
00:52 – Where Matt lives and invests right now
02:55 – From a construction worker to a real estate entrepreneur
07:00 – How to raise capital
10:06 – Great opportunities that COVID afforded him
12:32 – Attracting possible capital partners
14:39 – The book that tells you how he raised his first capital
“I do most of my investing, I do have assets in California, we primarily do new development in here because if you can get your hands on a piece of land, you can build something way cheaper than you can buy it, the values are just so high, the price per square foot they sell for more than they cost to build.” – Matt Skinner
“With raising capital, there are rules, and there are regulations. And as long as you follow them, that’s not complicated, and it’s not hard, and you shouldn’t get yourself in hot water. I’d say the best thing to do is disclose everything and document everything. And I think you’ll be just fine.” – Matt Skinner
“My biggest advice is to focus on one market, master one market, and don’t even think about going to a second market until you know all the players. Investors want that they are investing with you because you are the expert.” – Matt Skinner
“Master one market, and you’ll attract all the capital that you would ever need inside that market.” – Matt Skinner
“If you’re focusing on the market, and you’re finding deals on a regular basis, you can sell those for a fee, you can sell those for a fee plus equity. Or you can syndicate it yourself, or maybe find a passive partner that wants to put up the money and let you run the show.” – Matt Skinner
“The key is to separate the acquisitions, real estate business from the capital-raising side of the business because capital raising is a full-time job. It can be depending on which capital you’re going to raise now, but really the key is treating them as two separate skill sets.” – Matt Skinner
“When you’re out raising capital, we call it prize framing: This deal is awesome, and we’d like to invite you to participate in it. I don’t need you; I don’t need your money. But I would like you to come in and win with us because we want to build a long-term relationship.” – Matt Skinner
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