Multifamily Capital Raising: Lessons From Noel Walton

Multifamily capital raising is one of the most important skills for real estate investors who want to move beyond smaller individual investments and participate in larger apartment deals. Noel Walton, a multifamily investor and digital marketing specialist, shares valuable lessons from his experience completing approximately 750 apartments, raising capital, building investor relationships, and navigating the challenges of a difficult first syndication. His experience demonstrates why investors need to build their network and investor list well before they have a deal under contract.

Noel Walton’s Multifamily Investing Journey

Noel Walton began his career in the military, serving in the Air Force and later becoming an Army aviation officer. Near the end of his military career, he transitioned into multifamily real estate and joined a real estate investing education and networking program in 2020. He became part of a team of military veterans from different branches and developed a strong focus on investor relations, capital raising, and marketing.

Since entering real estate, Walton has participated in approximately 750 apartment units as well as mobile home and RV park investments. His experience has included both the operational side of real estate and the relationship-building required to find deals and raise investment capital. He has also developed expertise in digital marketing, which he now uses to help real estate professionals improve their ability to connect with and convert potential investors.

What Noel Walton Learned From His First Multifamily Syndication

Walton’s first syndication involved a 172-unit apartment community in Waco, Texas. The property was initially missed by his team, but Walton maintained communication with the broker and followed up approximately 30 days later. When the original transaction fell apart, the team was given another opportunity to submit its best offer and eventually secured the property.

That experience highlights one of the most practical lessons in multifamily investing: relationships with brokers can create opportunities long after an initial offer is rejected. Investors should continue following up on properties they lose because deals can fall apart for many reasons, including financing problems or an inability to raise the required equity.

The deal also became a major lesson in underwriting, financing, capital raising, and risk management. The property had a purchase price of approximately $11.8 million, with significant renovation needs and an initial projected return of roughly 20% IRR. However, the financing ultimately came in at a much lower loan-to-cost level than initially anticipated, increasing the equity requirement from approximately $2.5 million to $4.5 million.

Why Building an Investor List Early Matters

One of Walton’s strongest pieces of advice for aspiring multifamily investors is to start building an investor list before finding a deal. Waiting until a property is under contract to begin searching for investors can create enormous pressure, particularly when a deal requires millions of dollars in equity.

Investors can begin by identifying people within their existing network who have expressed an interest in investing, financial freedom, or building wealth. The goal is not simply to ask people for money. It is to begin authentic conversations, understand their interests, provide value, and develop relationships over time.

Walton recommends:

• Identifying potential investors well before a deal is available
• Tracking conversations and relationship history in a CRM or spreadsheet
• Educating potential investors through consistent content
• Building trust and credibility before asking someone to invest
• Continuing to nurture relationships throughout the investment process

This approach makes multifamily capital raising a long-term relationship-building process rather than a last-minute fundraising effort.

Using Digital Marketing to Strengthen Capital Raising

Walton’s background in investor relations naturally led him into digital marketing. He managed websites, email campaigns, investor communication, and other marketing activities for his real estate team, eventually pursuing a master’s degree in digital marketing. His experience demonstrates how capital raising and marketing can work together to create awareness and establish credibility with potential investors.

Educational content is particularly valuable because investors need to know, like, and trust the person managing their capital. Rather than only discussing successful deals, Walton emphasizes the importance of being honest about challenges and failures. Sharing what went wrong and explaining the lessons learned can help demonstrate experience, transparency, and credibility.

For real estate professionals building an investor audience, consistent educational content can include market observations, investment lessons, deal analysis, mistakes, successes, and practical information that helps potential investors better understand the asset class.

Lessons From a Challenging Multifamily Deal

Walton’s first syndication also illustrates why multifamily investors need to prepare for changes in financing and market conditions. The team initially expected more favorable financing, but the final loan-to-cost structure required a substantially larger equity raise. They used contract extensions to gain additional time and ultimately brought in preferred equity to help complete the transaction.

The preferred equity provided the capital needed to move forward, but it also came with higher costs, additional reporting requirements, and greater investor control. Rising interest rates later contributed to the decision to sell earlier than the original five-to-seven-year hold period. Despite taking some reductions in returns along the way, the investment ultimately produced a positive return for investors.

For investors, the experience reinforces several important principles: understand your financing before committing to a deal, maintain sufficient access to capital, understand the terms of every capital source, and recognize that market conditions can change dramatically during a hold period.

Exploring Mobile Home and RV Park Investing

Walton has also participated in a Georgia investment combining RV pads and mobile homes with a group of military veterans. He notes that the investment has performed differently from commercial multifamily and has not experienced the same challenges his multifamily investments faced.

The combination of longer-term mobile home residents and more transitional RV income creates a different operating model. However, RV parks can require more hands-on management because of the constant movement of guests and the need for check-in and check-out operations. The experience has given Walton exposure to another real estate asset class while reinforcing the importance of treating every property like a business.

The Power of Relationships in Real Estate Investing

Walton identifies investor relations and capital raising as his strongest skills, but he also points out that relationship building extends beyond investors. The same skill set can help investors develop relationships with brokers, which can ultimately lead to additional deal opportunities.

His experience working with other investors also reinforces the team-based nature of multifamily real estate. Finding a property, underwriting the opportunity, raising capital, managing operations, and executing the business plan can require different skill sets. Walton has partnered with other members of his real estate network on multiple deals, demonstrating how strong relationships can create opportunities that would be difficult to pursue alone.

For investors looking to build a career in multifamily real estate, Walton’s story provides a practical roadmap: develop specialized skills, build relationships early, create an investor audience, stay connected with brokers, and continue learning from both successful and unsuccessful deals.

If you want to hear the full conversation and detailed insights, watch the podcast video or read the complete transcript below.

What Is Multifamily Capital Raising?

Multifamily capital raising is the process of securing investment capital from partners and investors to help fund multifamily real estate acquisitions. Noel Walton explains that successful capital raising depends heavily on building relationships, establishing trust, and developing an investor network before a deal is available.

Why Is Multifamily Capital Raising Important for Real Estate Investors?

Multifamily capital raising allows investors to participate in larger real estate transactions that may require substantial amounts of equity. Having an established investor network can also help investors move more confidently when a property becomes available instead of trying to build an investor list at the last minute.

When Should You Start Building an Investor List?

Investors should begin building an investor list well before they have a multifamily deal under contract. Noel Walton recommends identifying potential investors early, starting conversations, tracking those relationships, and continuing to educate and communicate with them over time.

How Do You Build a Multifamily Investor Network?

Building a multifamily investor network starts with identifying people who may already be interested in real estate, financial freedom, or investing. Investors can begin conversations with friends, colleagues, and professional contacts, then nurture those relationships through consistent communication and educational content.

How Can Digital Marketing Help With Multifamily Capital Raising?

Digital marketing can help real estate investors build awareness and credibility with potential investors. Walton discusses using websites, email marketing, content creation, and ongoing communication to develop the know, like, and trust that can be important when raising capital for multifamily deals.

How Does Content Help With Capital Raising?

Educational content can help investors demonstrate their knowledge and build relationships with prospective investors before presenting an investment opportunity. Sharing useful information, real estate lessons, successes, and even mistakes can help establish credibility and create stronger connections.

What Is the Role of Relationships in Multifamily Capital Raising?

Relationships are central to multifamily capital raising because investors typically want to understand who they are investing with and how that person operates. Walton also explains that relationship building extends beyond investors because strong broker relationships can lead to additional multifamily deal opportunities.

What Is One of the Biggest Mistakes New Investors Make When Raising Capital?

One common mistake is waiting until a deal is available to start building an investor list. By that point, an investor may not have enough relationships or trust established to raise the required capital within the available timeframe.

How Can Investors Organize Their Investor Relationships?

Investors can use a CRM or even a simple spreadsheet to keep track of potential investors and their conversations. Recording who they have contacted and when the relationship began can help investors maintain consistent communication and systematically develop their investor network.

What Can Investors Learn From a Difficult Multifamily Deal?

A challenging multifamily deal can provide valuable lessons about underwriting, financing, capital raising, market conditions, and risk management. Walton’s first syndication required his team to raise significantly more equity than initially expected and ultimately use preferred equity, demonstrating why investors need to prepare for unexpected changes throughout a transaction.

00:00:31:24 – 00:00:47:16
Rod Khleif
Welcome back to Multifamily Rockstars. So as you guys know this is where we dive deep into our guest deals and we give you a really practical and actionable advice on how to do your first deal, even if your brand new to the business and and it’s always warriors, it’s always coaching students that I bring on to do these.

00:00:47:16 – 00:01:11:11
Rod Khleif
And today I’ve got like an original okay, back from 2020, Noah Walton. And he’s got a cool background. He was an Air Force. He was in the Air Force security forces, Black Hawk pilot. Just coolest shit. And he joined in my program back in. What was it, January of 2020. Is that correct? Yeah, January of 2020. But what else was cool that you did that?

00:01:11:11 – 00:01:36:15
Rod Khleif
I really like is you started a partnership with four veterans from each branch, one from each branch, which is just also very cool. You’ve done a lot. You’ve done a total of 750 apartments, and you’ve done mobile home and R-V park units and, and yeah. So it’s and I know you were on the show back then, shortly after, shortly after you joined the program back in 2020 or early 21.

00:01:36:15 – 00:01:55:07
Rod Khleif
So quite a long time ago. So and now you’re in Austria, for God’s sakes. I mean, yeah, I just well, welcome the show, brother. Welcome back to the show rather. Thank you. It’s great to see you. We were kind of catching up a little bit before we started recording, but maybe you can elaborate on a little bit of the background I gave here.

00:01:55:08 – 00:01:57:17
Rod Khleif
I stole a little bit of your thunder just because it’s kind of.

00:01:57:20 – 00:02:22:11
Noel Walton
No. Absolutely. That’s that’s it. I mean, I was I was military since 18 years old, six years Air Force enlisted, later commissioned Army aviation officer. And then just at the tail end of my military career is when I jumped into the multifamily side. Join the warrior program. And like you said, the the Jacor teams, the Joint Chiefs of Real estate, we were all representative of different branch of the military.

00:02:22:11 – 00:02:24:13
Noel Walton
So it was really, really fitting name.

00:02:24:14 – 00:02:29:03
Rod Khleif
I’ll bet you guys give yourself a lot of each other, a lot of shit to write a different branches. Oh, yeah.

00:02:29:04 – 00:02:35:18
Noel Walton
Absolutely. We got to go at each other. The Marines eating crayons and all these good jokes, right?

00:02:35:20 – 00:02:53:07
Rod Khleif
Oh that’s awesome. That’s awesome. So. Well, let’s get right into it. You know, we like to talk about the deals on this show and talk. Let’s talk about your first syndication okay. Back in the day I know your primary role was investor relations and raising capital. Correct?

00:02:53:08 – 00:02:53:21
Noel Walton
That’s correct.

00:02:53:22 – 00:03:10:13
Rod Khleif
Yeah. And I know you’re you’re embracing the digital side of that marketing, helping other GPS raise money for capital as well on the digital side, which is cool. We were talking about that because AI is just incredible right now. But let’s talk about that first deal.

00:03:10:15 – 00:03:17:01
Noel Walton
Yeah man. First deal was a it was a learning experience 100%.

00:03:17:06 – 00:03:18:06
Rod Khleif
Seminar okay.

00:03:18:07 – 00:03:43:15
Noel Walton
Yeah, absolutely. It was a seminar from from every piece of it. And there’s so many layers to it, which is what’s insane. It’s a you know it. You know where to start with this one. So we we started off 172 units in Waco, Texas. Okay. Got under this, got under contract with this one under Lloyd first after we had missed out on it the first time.

00:03:43:17 – 00:04:01:22
Rod Khleif
Right. By the way, let me stop you. By the way, guys, that is a very common dynamic, which is why you need to stay in touch with brokers. If you know, if you bid on a property, you didn’t get it because very often a deal doesn’t go through. They couldn’t raise the money, they couldn’t get the financing. I can’t tell you how often my warriors have gotten deals because they just stayed in touch.

00:04:01:24 – 00:04:03:13
Rod Khleif
Is that what happened in this case?

00:04:03:13 – 00:04:20:23
Noel Walton
That is it. You know, we missed out on the first one. I kept the conversations going with that broker on touch base with him maybe 30 days after. I was like, hey, how did that deal go? And oh, it fell through. But if you guys want me to get you in front of the seller, you know, give me your best offer.

00:04:21:02 – 00:04:38:09
Noel Walton
So that’s how we went back to the drawing board, refined what we had originally. Sharpener, pencils a bit, so to speak. And, yeah, we got it. Got it under Louis. And that started off the, the the offering and the rays and.

00:04:38:11 – 00:04:54:20
Rod Khleif
Yeah thing by the way Louis means letter of intent guys. So letter of intent is how you start the process with a seller or broker. Because you’re never going to write a contract yourself. You’re never even going to review a contract yourself. And I’ve done thousands of contracts and I would never do an apartment complex contract by myself.

00:04:54:20 – 00:05:09:08
Rod Khleif
So you need a good attorney, and attorneys aren’t free. So you start with what’s called an ly letter of intent. It has the main points of the deal. Get that accepted. Then the attorneys can fight out the purchase and sale agreement. The contract. Anyway, just wanted to elaborate on that and for people.

00:05:09:09 – 00:05:31:06
Noel Walton
To know. Absolutely. Yeah. So once we got into the lie, like you’re like you said, the going back and forth on the contract, it was probably ten times that thing goes back and forth. Red line here, red line there. Do we finally reach an agreement. Went under contract. We we ended up putting in $100,000 hard money for us.

00:05:31:09 – 00:05:34:19
Rod Khleif
Meaning nonrefundable. That’s earnest. Money meaning nonrefundable.

00:05:34:21 – 00:05:36:00
Noel Walton
Yeah. And so the.

00:05:36:01 – 00:05:51:05
Rod Khleif
Only way you can you can raise that money. It’s called at risk capital. I’ve provided it for deals. And a lot of warriors raise that at risk capital so they can literally get in with no money down. You can raise that money and the, the equity. But anyway please continue.

00:05:51:08 – 00:06:11:19
Noel Walton
Yeah, absolutely. So you know for this deal it was 172 units. Purchase price was 11.8 million. You know, we with our underwriting we were predicting around 12. I’m sorry. That was the exit. Initially, we were predicting closer to a 20% IRR.

00:06:11:21 – 00:06:13:07
Rod Khleif
Internal rate of return.

00:06:13:09 – 00:06:26:18
Noel Walton
Yep. Yeah. Great projected returns. We were in for 68,600 per door and CapEx budget we had around 400,000. Okay. You know.

00:06:26:20 – 00:06:31:11
Rod Khleif
That’s to do repairs. And what were those repairs.

00:06:31:13 – 00:07:03:09
Noel Walton
So there was trying to think back to all these details, but there was sure exterior. Of course, interior units needed a lot of needed upgrades from from painting to, to, you know, bathrooms, kitchens and so forth. A lot of those exterior, which we did put a lot to, to modernize the outside. It was looking like a typical 1973 apartment complex that really, you know, had been owned by one person who bought it by himself in night and probably wouldn’t 80s, I believe.

00:07:03:11 – 00:07:04:21
Rod Khleif
Very unusual. Okay.

00:07:04:22 – 00:07:32:24
Noel Walton
Yeah. Highly unusual. And as such, it did not have great management in place. And, you know, there was a lot of upside in that, that regard as well. So yeah a raise. Let’s see how we sequence this here. Our initial financing we the term sheet came back with around 8080, 85% loan to costs, which we were like oh we were decided I guess.

00:07:32:24 – 00:07:50:11
Noel Walton
Sounds great. You know, we can roll CapEx costs into this as well. Then the actual final came in at 65% loan to cost. So then our raise then went from two and a half mil to four and a half mil. That was a good time.

00:07:50:13 – 00:07:52:10
Rod Khleif
That’s that’s that’s nerve wracking.

00:07:52:11 – 00:08:11:08
Noel Walton
That is and especially for a first deal where we didn’t have years of of an investor list built. You know, this was flying by the skin of our teeth at this point. Right. We had we had good investors. We had a lot of connections between everyone in our group. Sure. But it needed to be better than it was.

00:08:11:09 – 00:08:34:21
Noel Walton
And, you know, and this was the core problem that resulted in much of the issues that we had in. And that was the one thing we could control, paired with other things that we couldn’t control. So forth, like in 2022, the spike of interest rates, that was that was the big piece that force us to go for a shorter sale on it.

00:08:34:23 – 00:08:51:13
Noel Walton
And so, yeah, we we went to work. We we were putting those calls out, contacting everyone we knew, you know, and we, we ran this one as a 5 or 6 B. So you know of course it’s a little more challenging.

00:08:51:13 – 00:09:13:00
Rod Khleif
And so so there are two types of syndications that you’ll encounter the most in this business. A 506 B is the original way that you could do a syndication back in the day. And and it’s really called the Friends and Family syndication, because you have to have a substantive preexisting relationship with someone before you tell them about a deal.

00:09:13:00 – 00:09:34:04
Rod Khleif
Back in the day when I started, they had what was called the three touch rule. You had to have talked to him three times before you could do it. So that’s a 506 B, which is what you did here, which is more challenging candidly, because you can’t advertise it. But but when the Dodd-Frank act came around, they came out with the 506 C and the clouds parted and the angels sang, and you could advertise a deal.

00:09:34:04 – 00:09:49:13
Rod Khleif
I could talk about it on the podcast. However, you have to use accredited investors. And by the way, guys, this is the stuff we teach at my boot camps. And my boot camps are now we’re about every six weeks and they’re $17 and I don’t sell anything there. So tell me you’re freaking excuse if you want to learn this business.

00:09:49:13 – 00:10:09:18
Rod Khleif
Right. But so that’s a 560. But you did a 560. Interesting. You know that that there were a lot of those back then. But it’s completely shifted now. Merrill Kelly or the SEC attorney a lot of us used in the warrior program says it’s about 95%, 560 now. And it used to be the round anyway. Yeah. Anyway.

00:10:09:19 – 00:10:10:22
Noel Walton
So that’s a big shift.

00:10:10:24 – 00:10:12:03
Rod Khleif
Yeah.

00:10:12:05 – 00:10:30:09
Noel Walton
Yeah. It is a big shift. Yes. Definitely. Yeah. So you know, this is where we we went to work on that raise. We we raised what we could. We started running out of time. We ended up using two contract extensions at 50,000 each to add on some more time.

00:10:30:14 – 00:10:44:24
Rod Khleif
By the way, what very often happens is you’ll increase the earnest money. Nonrefundable earnest money. You want some time? No problem. Put in another 50 grand or 100 grand to get that extra time. That’s the way it works. Okay, so you paid. You had two extensions, 50 grand a pop. Okay.

00:10:45:00 – 00:11:02:06
Noel Walton
Getting that is, I think another 30, 45 days roughly gave us a little more time. But we realized we’re we’re still, you know, we’re still falling short of where we need to be for clothes and CapEx, which, of course, CapEx can be raised after the closed.

00:11:02:07 – 00:11:07:05
Rod Khleif
Right now. Let me sorry. You’re adding so much value. I want to elaborate on.

00:11:07:05 – 00:11:07:12
Noel Walton
All this.

00:11:07:13 – 00:11:28:19
Rod Khleif
Absolutely. Really an educational show. So when you can do post closing equity raising guys, if you can raise enough to close, you can keep raising. And I’ve done it on my deals. I’ve you know, we raised 12 million from our last apartment complex and probably about three of it was after closing. And, you know, you’re just raising the money you’re going to use to fix up the CapEx money.

00:11:28:24 – 00:11:30:05
Rod Khleif
All right. Please continue.

00:11:30:08 – 00:11:48:16
Noel Walton
All right. And then, yeah, for for us to get across the finish line, we realized we had to I guess they pull the pull the emergency button on this one. We went with a preferred equity group which brought in 1.5 million I believe it was okay, so not ideal, but.

00:11:48:17 – 00:11:52:24
Rod Khleif
No, you got speak to why it’s not ideal. I can elaborate on it if.

00:11:52:24 – 00:12:00:22
Noel Walton
You’d like. Yeah. I mean, for us, of course, there’s high interest rates on this money. And then of course, if you sell early.

00:12:00:22 – 00:12:02:15
Rod Khleif
There’s controls as well.

00:12:02:18 – 00:12:12:19
Noel Walton
Yeah, absolutely. There’s very they have a lot of say just actually I think they come before the primary lender and in some cases or close to they.

00:12:12:21 – 00:12:32:24
Rod Khleif
They typically they’re right behind the primary lender. But but not not in front of they can’t be in front of. It’s, it’s illegal because of because they have a first mortgage position. However, I can tell you they have a lot of control. And and I purchased a property in Lexington, Kentucky that the seller did not want to sell, and his private equity made himself.

00:12:33:00 – 00:12:47:22
Rod Khleif
Okay. So and you’ve got to you’ve got to meet certain metrics correct, like occupancy and metrics. And if you don’t, you could have a real problem. So yeah, private equity can be very dangerous. But you you didn’t have a choice okay.

00:12:47:22 – 00:13:06:04
Noel Walton
Yeah absolutely. And it was the best deal that we could find under that circumstance. You know, of course there was the reporting requirements. There was, you know, making sure that just as the lender wants to see our CapEx projects, you know, are these being done, show us when they’re done.

00:13:06:06 – 00:13:07:16
Rod Khleif
What he wants to see this done to?

00:13:07:17 – 00:13:13:01
Noel Walton
Yeah, they want to see all this being done as well. So it’s like having another boss in the in the picture.

00:13:13:02 – 00:13:22:13
Rod Khleif
Extra reporting. It’s a pain in the ass. You got to send reports and yeah it’s a pain but but so is it worth it usually yes. No, I don’t know if it was in this case, but usually it is.

00:13:22:14 – 00:13:49:07
Noel Walton
Yeah. And over I think over a longer term, if we had been able to hold into our predicted initial 5 to 7 year time frame, it could have played out much better. You know, we ended up selling earlier because we saw, you know, interest rates coming about and so forth, and we managed to get out just as the rates started to climb.

00:13:49:11 – 00:13:50:10
Rod Khleif
Wow, wow.

00:13:50:12 – 00:14:10:05
Noel Walton
But in in so doing this perverted equity group then gets their their yield maintenance I guess you call it their early exit. Yeah. So you know that that cut back on returns a bit as well. Yeah. So you know all in all we did come out with a positive return for investors.

00:14:10:05 – 00:14:12:13
Rod Khleif
But beautiful fantastic.

00:14:12:13 – 00:14:15:08
Noel Walton
But we ended up taking some haircuts along the way.

00:14:15:13 – 00:14:19:16
Rod Khleif
Yeah. But you learned a ton. Oh my God what an education that deal was.

00:14:19:17 – 00:14:24:21
Noel Walton
Absolutely the value that education was worth millions right right.

00:14:24:23 – 00:14:45:02
Rod Khleif
You know sometimes it’s a painful education. But you know God you learned a lot. And and you know, the fact that your investors came out. Well, I mean, there’s a lot of deals in trouble right now. I’ve got to deal in trouble right now. And and with that is a credible amount of opportunity right now. You know, there are deals being sold for less than they cost to build a lot of them.

00:14:45:02 – 00:15:07:17
Rod Khleif
And and so, you know, it’s it’s it’s a very exciting time. Let’s use that. Let’s use that word exciting. It’s a very exciting time. It’s a little you know, I mean I know operators that have private jets that are that have lost deals, you know, that that are in trouble. So, you know, it’s it’s systemic right now. But with that said, with crisis comes opportunity.

00:15:07:18 – 00:15:23:03
Rod Khleif
You know, Warren Buffett’s famous quote, be fearful when others are greedy. A lot of greed back there. When you bought that property in 2021, it was easy to get money and all that, and then it shifted. But, you know, the flip side of that quote is obviously be greedy when others are fearful. And now the fear is there.

00:15:23:03 – 00:15:42:07
Rod Khleif
So this real opportunity to snap up deals and you’re seeing some big groups come in to get these A and B class assets. Merrill, the my syndication attorney, said he’s got he’s had some Israeli and some Canadian investment firms come in and buy like 5 to 10 of them at a time. And you know and Merrill again that’s my SEC attorney guys.

00:15:42:07 – 00:16:10:22
Rod Khleif
He got six apartment complex foreclosures in one day. Six separate clients. That’s that’s what’s wow. So it’s a it’s a little bit crazy. Yeah. But, okay. Let’s see. So so you were able to get out of that. So, you know, I know that you’re, you’re you’re you’re you’ve kind of paused the acquisitions a little bit. You’re working on the marketing stuff, which is cool.

00:16:10:24 – 00:16:26:18
Rod Khleif
No. Now you’ve also got into some mobile home parks and some, sorry, I’m drawing a blank RV, transitional ones, RVs, RV parks. Yeah, yeah, yeah, yeah. So? So how’d that go? And where are they? I’ll talk a little bit about that.

00:16:26:19 – 00:16:47:15
Noel Walton
Yeah. So it’s it’s one deal in Georgia that we got into with. Yeah. With a group of all all military veterans involved in this deal. And it is a combination of, you know, the numbers are escaping me at the moment, but combination of RV pads plus mobile home. So it’s a it’s a good combination. You got some long term.

00:16:47:16 – 00:16:54:03
Rod Khleif
That’s good. That’s good because you got stable income and then you’ve got some more transitional income. So you know the two probably help each other. Okay.

00:16:54:04 – 00:17:16:14
Noel Walton
Absolutely. Yeah. So you know it tends to it’s really been running very well. You know we haven’t suffered the same way that the commercial multifamily has. Yeah. Yeah. And it’s done. Well. It’s you know the tricky part is just keeping you know you’re running like a business. You know you’ve got to have that that front desk check in, check out.

00:17:16:15 – 00:17:18:16
Noel Walton
Right. You know.

00:17:18:18 – 00:17:38:04
Rod Khleif
Because you know there’s people going in and out. It’s a lot more hands on than like a regular mobile home park. And by the way, my warriors own tons of mobile home parks. I mean, you know, people think that the warrior programs just multifamily. By the way, you don’t know this. Do you know that the Warriors now own 305,000 units that we know of, that we’re counting?

00:17:38:05 – 00:17:59:11
Rod Khleif
It’s more than that because not everybody responds. But it just blows my mind. That’s more than everybody else that teaches this combined. That’s just the multifamily. But there’s tons of senior housing. I’m in senior housing, mobile home parks, self-storage, industrial, flex space, retail, mixed use hotel conversions. I mean, you name it, development, all of it. It’s just kind of insane what it turned into.

00:17:59:11 – 00:18:16:17
Rod Khleif
By the way, if you’re interested in applying to the warrior program, text the word crush to 72345. That’s how you apply your text crush to 72345. We look you over, you look us over. And if it’s a fit, trust me, you’ll be glad you joined. Have you gotten value from the program? No.

00:18:16:19 – 00:18:22:15
Noel Walton
I want 100%. Yeah. It was the best decision getting into the business.

00:18:22:17 – 00:18:41:17
Rod Khleif
Thank you. Thank you. Yeah. So? So now I know. So what would you say is your superpower? Because everybody, you know, this business is a team sport. Like I said, it’s very unusual. The guy you bought that unit from, one guy buying a place. Very unusual. In fact, I’ve only seen that a handful of times. It’s always a team thing.

00:18:41:19 – 00:18:49:02
Rod Khleif
Somebody finds the deal, someone else underwrites it. Someone else helps raise money or, you know, combination of what is your superpower in it?

00:18:49:04 – 00:19:18:11
Noel Walton
Yeah, my superpower has always been the the investor relations and capital raising. You know, I’ve I can do underwriting, I can all these things. But you know, relationship building applies not only capital raising but also deal finding because you’re building those relationships with the brokers. So that was my my definitely my strong suit, what I focused on. And with the capital raising, you know, that that overlaps with marketing 100%.

00:19:18:11 – 00:19:36:01
Noel Walton
And I was running all the marketing for our team and all of our, you know, whether it was during raises or outside of raises. I was I was running everything website to email, nurture and the whole shebang. So I learned a lot from that. But I also learned what I now, what I didn’t know.

00:19:36:01 – 00:19:39:17
Rod Khleif
And yeah, you got your masters in digital marketing, right?

00:19:39:18 – 00:19:55:15
Noel Walton
Since I’m finishing that up here very shortly. Yeah. And master’s in digital marketing and been focused on that pretty heavily in the last year and a half. And yeah, really looking now to apply that into that GP compliance space.

00:19:55:16 – 00:20:22:10
Rod Khleif
Sure, sure. No it’s exciting. You know we’ve been doing marketing on the senior housing front. You know, just the traditional digital marketing. And it’s been really good. Surprisingly good. So so give an action item, you know, for my listeners that they could do right away if they’re thinking about getting into this business, you know, what’s something they could do to get started if you can think of anything.

00:20:22:12 – 00:20:50:16
Noel Walton
So right now, I would say number one thing right now is, you know, if you know, this is what you’re you’re wanting to move that direction, get the right education and start on that, but also start building your investor list. And people don’t start this early enough. And that that is what you know. I know I experienced it through through my seminar and many people do.

00:20:50:17 – 00:21:15:16
Noel Walton
It’s you know, it’s they realize, oh, I don’t have this long list of people ready to invest. How, you know, how do I get to that? And sometimes they wait until they have a deal is much too late. So start building that list. You know who go through and pick out 30 people. These are the people that I think may be interested in this from whether I know them as a friend or a colleague or whatever the case is.

00:21:15:17 – 00:21:37:03
Noel Walton
I know they’ve talked about investing or, you know, financial freedom, whatever the case is, you know, bring that bring those topics up in, you know, hey, have you ever thought about this or, you know, just have the conversations. And when you do that, make sure you’re keeping track of who you’re talking to and the date that you start that conversation.

00:21:37:05 – 00:21:55:23
Rod Khleif
So utilize the CRM or and there are free. There are free versions of pretty much every CRM we use. HubSpot is very expensive. They have a free version, but there’s really simple systems. Insightly Zoho at the very least uses freaking spreadsheet. But but you know, there are there are CRM you can do this with, so log them. Right?

00:21:55:23 – 00:21:58:02
Rod Khleif
What else?

00:21:58:04 – 00:22:18:11
Noel Walton
Yeah. Start that. You know, because that’s going to start the clock on that relationship. And when you get into deals 5 or 6 B deals, that’s going to make sure you’re compliant and you don’t want to get into these, these conversations and start those relationships after the the clock has started on your offering because that then you expose yourself and your team.

00:22:18:12 – 00:22:39:20
Rod Khleif
Well, not just that. No, no, it’s not even that because 506 bees kind of gone by the wayside, you know. But but what’s important is you build that relationship first. You build that trust and credibility first. And candidly, the best way to do that, correct me if I’m wrong, is really educating is is sending out educational material. You know, an AI freaking can create that for you.

00:22:39:20 – 00:22:51:15
Rod Khleif
Now, it’s I mean, you want to kind of clean it up in your voice, but it’s extraordinary what you can do to create the content. Start putting it out there with with regular communication, emails, whatever it is.

00:22:51:15 – 00:23:12:12
Noel Walton
And yeah, that is so true. And yeah, it’s and this is the piece is is you know what you’re talking about the, the content creation. You know, this is where you start building awareness according to the traditional marketing funnel. You’re building awareness. But this is the know, like and trust that you need for investors to know who you are.

00:23:12:14 – 00:23:39:04
Noel Walton
They need to say, hey, this is someone I could relate to. I, I like how he thinks I trust what he does and how he operates and that and that trust is built from, like you said, education, sharing stories of what went wrong. You know, just honest. And sometimes people don’t want to talk about I failed at this because, oh, that makes me look like I don’t know.

00:23:39:04 – 00:23:55:17
Rod Khleif
What I’m doing when I do my boot camps. There’s a question I always ask the panelists, and it is talk about a seminar every time because, you know, everybody else, all my competitors talk about success, success, success. You know, you’re going to get your ass kicked, okay. You’re going to get your nose bloodied. It’s going to happen. It’s not a matter of if.

00:23:55:17 – 00:24:16:01
Rod Khleif
It’s a matter of when is it still worth it? You better freaking believe it. But I think you learn more from that than you do from the successes. And so I’ve now made it literally. It’s a question I always ask a panel on my on my weekend boot camps. And because that’s that’s how you learn. I mean, you know, and it’s not all, you know, a straight line.

00:24:16:01 – 00:24:40:12
Rod Khleif
It’s not all perfection. You know, we’re like a duck sometimes swimming all peaceful on top with your little legs underneath there furiously paddling, you know, to, to get over the finish line. But is it worth it? Yeah, it’s freaking worth it. So. So what’s you know, you’re going to do the marketing, you know. What are you are you considering any other asset classes?

00:24:40:12 – 00:24:45:10
Rod Khleif
Are you looking at doing any more acquisitions? What are your thoughts there? Are you comfortable with.

00:24:45:12 – 00:25:07:11
Noel Walton
In the future? I definitely want to get back into some some deals and open it up to different assets. You know, I’ve there’s definitely so many benefits in diversity in those regards. And yeah. But currently where I’m at now you know living in Austria it’s it’s a little bit more challenging for me. And considering my daughters are here, they’re young.

00:25:07:11 – 00:25:31:15
Noel Walton
I want to be here for them when they’re young. So that’s why I’m more focused currently on building out my digital marketing agency. And when the time is right, I want to jump back into some deals on on the US side. But yeah, that’s that’s kind of really it right now. And I want to make sure that I can obviously contribute actively into those deals and not just the capital ray side of those.

00:25:31:21 – 00:25:39:12
Rod Khleif
Right, right, right. So on these deals that you’ve done, you know, 750 units, whatever. Have you partnered with other warriors?

00:25:39:14 – 00:26:06:07
Noel Walton
Yeah, absolutely. All all of my deals have been with warriors. You know, some some different than others. But yeah, I’ve two of the members of RJ core team were warriors as well. So yeah, we’ve done those. I mean, one deal was only as an LP so it doesn’t count. But yeah out of the JV and then GP deals.

00:26:06:09 – 00:26:10:02
Noel Walton
Yeah absolutely. Those relationships were so valuable.

00:26:10:06 – 00:26:27:02
Rod Khleif
Yeah. Yeah that’s really that’s kind of what it’s done. It’s really more about the relationships and getting my warriors together than, than even the, the education at this point because it’s, it’s more who you know than what you know. Let me ask you this. Are you okay with listeners reaching out to you and are you okay with that?

00:26:27:03 – 00:26:28:00
Noel Walton
Yeah, absolutely.

00:26:28:01 – 00:26:30:07
Rod Khleif
Okay. Where and how can they do that?

00:26:30:12 – 00:27:04:03
Noel Walton
So you can reach me on LinkedIn. Noelle Walton easy to find there, Noel Walton. And then you can also sign up for a call for me. With me, I have a free tool that I like to share with people in the GP space, or even fund manager space. That is a ten question survey will really shine some light on your entire capital, raise scores your entire pipeline for how you find your investors and how you convert them to loyal investors in your deals.

00:27:04:03 – 00:27:05:22
Noel Walton
So happy to share that.

00:27:06:02 – 00:27:07:15
Rod Khleif
Where can they do that?

00:27:07:17 – 00:27:13:21
Noel Walton
That is at the high route agency com slash card.

00:27:13:23 – 00:27:17:19
Rod Khleif
I agency card. Awesome.

00:27:17:20 – 00:27:19:17
Noel Walton
The the high route agency.

00:27:19:23 – 00:27:45:06
Rod Khleif
The route agency. Got it. The high route agency. Com sport slash scorecard. Love it. Well thanks, brother. It was absolutely great to see you. It’s been a long time. Of course, you’re across the pond at this point, but it’s great to see you, my friend. And I’m glad. Likewise. Are you doing so well? So you take care and and we’ll talk again, I hope so.

00:27:45:08 – 00:27:47:06
Noel Walton
Absolutely. Sounds great. Thank you.