Nov. 16, 2020

MB 240: How to Get Unstuck & Get Into Action – With Matt Brawner

MB 240: How to Get Unstuck & Get Into Action – With Matt Brawner

A lot of would-be multifamily syndicators get stuck, sometimes out of fear and sometimes because they want to plan every step of the process before they dive in. But that’s not how entrepreneurship works! In fact, the most successful real...

A lot of would-be multifamily syndicators get stuck, sometimes out of fear and sometimes because they want to plan every step of the process before they dive in. But that’s not how entrepreneurship works! In fact, the most successful real estate investors are the ones who are willing to put themselves out there and learn by doing—taking consistent, imperfect action.  

Matt Brawner is Managing Partner at Minnesota Capital Management and Northwoods Servicing, a real estate investing firm and property management company based in Coon Rapids, Minnesota. Matt and his partners have achieved considerable success turning their $5K investments into a portfolio worth more than $20M, but his greatest passion is teaching. To that end, Matt now serves as a mentor with the Michael Blank organization

On this episode of Apartment Building Investing, Matt joins cohost Drew Whitson and I to explain how he got into real estate, discussing how he formed a successful partnership with five other investors and what inspired their transition from townhomes to multifamily properties. He introduces us to the idea of setting up debt funds to raise capital and shares the pros and cons of having your own property management company. Listen in for Matt’s insight on scaling a multifamily business and learn how YOU can get unstuck and get into ACTION to become a successful real estate syndicator! 

Key Takeaways

What inspired Matt to become a mentor 

  • Career = function of faith
  • Help others achieve time freedom

How Matt got into real estate 

  • Realized no influence on stock market
  • Local opportunity to rent townhomes

What makes for a good partnership 

  • Communicate well (100% honesty)
  • Equal share of financial burden

Matt’s transition from townhomes to multifamily 

  • Local operator had deal but needed capital
  • Matt’s team had money to invest

Why Matt’s team had set up debt funds 

  • Needed capital to scale business
  • Attracts investors who want certainty

Matt’s top lessons learned in real estate investing 

  • Get into multifamily much sooner
  • All properties not created equal

The benefits of having a property management company 

  • Own more of value chain
  • Insight into local deals

Matt’s advice on property management for new investors 

  • Use third party when getting started
  • Allows to scale quicker, more efficiently

The traits of a successful multifamily syndicator 

  • Willing to learn by doing
  • Willing to wade into unknown

Matt’s insight on underwriting post-COVID 

  • Focus on forced appreciation
  • Add value to drive incremental revenue

What aspiring investors get stuck on 

  • Fear
  • Desire to plan out everything in advance

The challenges Matt faces in scaling his business 

  • Find landlord-friendly markets
  • Intentional networking to find deals

Connect with Matt Brawner

Matt on LinkedIn 

Email matt@nwsproperties.com  

Resources

Learn More About Michael’s Mentoring Program

Download Michael’s Free Report—What’s the Best Investment: The Stock Market or Real Estate? 

Traction: Get a Grip on Your Business by Gino Wickman 

National Multifamily Housing Council 

GigaFi

Corey Peterson  

Podcast Show Notes

Michael’s Website

Michael on Facebook

Michael on Instagram

Michael on YouTube

Apartment Investor Network Facebook Group