In this episode, Tim Vitale asks John Fortes about how to build a personal brand and how to raise money to buy apartments; John also talks about getting base hits - singles and doubles will achieve safe, consistent returns for investors.
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John Fortes
John Fortes also known as The Passive Investing Consultant, founded The Fortes Company which partners with working professionals seeking to invest in commercial multifamily apartments but do not have the time. By leveraging John’s experience, he has helped families invest in over $70 million in multifamily investments that’s allowed them to secure financial security, preserve and grow their wealth as well as compound their investments as they achieve their financial independence.
Listen to his podcast - the Passive Investor Show
Learn more at The Fortes Company website
You can connect with John on LinkedIn, Twitter, Instagram, and Facebook
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Timothy Vitale
Tim grew up in Real Estate family in Connecticut that has a portfolio of commercial and small multifamily (2-4 unit buildings). He got into real estate after bookkeeping for his family's REI business and realizing how much money there was to be made in the business. He decided on commercial real estate because its valued by the NOI and that's a controllable lever to pull based on performance. Tim is now AVP of Finance for insurance company out of NYC (working remotely in NC).
Connect with Tim at 704-654-6631
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Your host, Brian Briscoe, is a co-founder and principal in the real estate investing firm Four Oaks Capital. He and his team currently have 168 units worth $7.5 million in assets under management and are continuing to grow. He will retire as a Lieutenant Colonel in the United States Marine Corps in 2021. Learn more about him and the Four Oaks team at www.fouroakscapital.com or contact him at brianbriscoe@fouroakscapital.com - be sure to let him know where you found him.
Connect with him on LinkedIn, Facebook, or on Bigger Pockets.
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Episode Outline and Time Stamps
[00:01 - 01:45] Teaser and Introduction
[01:46 - 08:25] John’s Story
[08:26 - 13:11] John's "Why"
[13:12 - 18:56] What's next for John
[18:57 - 22:24] Tim Vitale’s Story
[22:25 - 35:34] Tim Asks The Expert
[35:35 - 38:36] Closing Segment
[00:01 - 01:45] Teaser and Introduction
● In this “Ask the Expert” episode, Tim Vitale asks John Fortes how he built his personal brand to attract passive investors.
[01:46 - 08:25] John’s Story
● I introduce and welcome guest John Fortes to the show
● John talks about his journey in the passive investing space
● John talks briefly about his podcast, The Passive Investor Show
● John shares a little bit of background of how he got into apartment investing
○ Tried to grow his 401k but it wasn't working
○ Bought an apartment, repaired it and started exploring single-family
○ Found his way into the multi-family industry
[08:26 - 13:11] Why Are You Investing?
● John talks about his reason behind why he got into investing
○ His overall goal is to secure his retirement
● John breaks down the details on one of the deals that he made
○ Back in 2019, he was under budget with some of the units that he renovated
○ Operating on the assets was a single-double life
[13:12 - 18:56] Moving Forward with Multifamily Investments
● John shares his view of what the multifamily industry looks like right now
○ It is a safer investment
○ He gets excited every time he sees a deal
○ What are your benefits as an investor?
■ How secure is your investment?
● Operating within the S.E.C rules
[18:57 - 22:24] Tim Vitale’s Story
● I welcome guest, Tim Vitale into the show
● Tim talks about why he wants to pursue real estate
[22:25 - 35:34] Ask The Expert
● Tim asks John: Before you had your podcast, how did you build yourself a brand in order to attract people to invest with you?
○ John: I didn't have a brand, but I was very active with the community. Don't be afraid and ask questions
● Tim asks: For your first investment, you know, did you have a target market or target property size after you did your single-family stuff?
○ John: Value adds opportunities. I'm looking for something singles and doubles. And what that looks like to me is I want to be safe, consistent and get the average returns that I that I'm comfortable with. So that's what I look like, what I look for, and criteria.
● Tim asks: Do you remember off-hand how big the raise was on your first syndication?
○ John: The smaller the investor pool the better
● John shares advice on what you shouldn't do when starting off in this kind of business
● John talks about how you can stay competitive in the market
○ Using your network as your leverage
[35:35 - 38:36] Closing Segment
● Connect with John and Tim online. See links below
● Final words from me