May 28, 2020
Successful investing requires time, energy, and persistence, but those things are meaningless if people don’t trust us enough to give us their money in the first place.
What truly drives someone’s decision to give us their money is our integrity, and the knowledge that their investment is in safe and trustworthy hands. We won’t unlock the opportunities if we don’t fully understand our moral responsibility to our investing partners.
In order to get traction with bigger deals, we need capital, and capital is generated when trust is earned.
How does trust make it easier for us to source money for deals? In these tough times where should we be looking to put our money? How do we deprogram limiting beliefs and internal obstacles?
In this episode, multifamily investor and expert, Jack Petrick talks about finding opportunity and why success in this business starts with good ethics.
Three Things You’ll Learn In This Episode
- Why we need to take a risk in order to grow
Our educational system punishes us when we fail at a subject or don’t do well enough. It makes us afraid to make mistakes or fail and we become afraid to risk anything, which hampers our growth.
- The 3 barriers of getting into multifamily investing
You need to have deal flow, capital (bring money to the table) and a net worth equal to the loan amount. But it’s not impossible to get these things in order with the right partnerships and credibility goes a long way to helping get those partnerships.
- The moral obligation every investor should have
People are not investing in a one-way deal; they are investing in you and your skills, and most importantly your integrity and ethics. It is our responsibility to make sure they always get their capital back, and that no matter what happens, they are made financially whole again. This is just as important as our expertise and experience.
Jack Petrick is a multi-family investor and expert, and owner of Petrick Property Group.
He is a full-time apartment investor focusing on equity improvement, value-add turn-around projects, and multifamily apartment buildings.
For more information, visit https://www.petrickpropertygroup.com/.