Our guest in today’s Real Estate Jam Podcast episode is Dan Zitofsky, who’s raised over $30 million in private money. Stay tuned to hear how you can have people wanting you to spend their money and learn about transactional business.

The points below are from the 44th episode of The Real Estate JAM, where we discussed passive wealth and how to have it.

Tune in to the full episode on YouTube, Spotify, or Apple Podcasts.

Power of Private Money

In real estate, nothing is ever a done deal until you’ve dotted your i’s and crossed your t’s. Anything can happen, and with how the economy is, an agreement can be canceled without notice. This is where the power of private money comes in. Learn to raise capital; you never have to be at the mercy of banks or lenders.

Marketing is an Investment

Many businesses see marketing as a cost which is why they always try to minimize this and not give it the importance it deserves. You need to remember that as much as you invest in yourself and your business, you also need to invest in your marketing because this will help you find clients and buyers.

Want to learn more? You can listen to the full episode on YouTube, Spotify, or Apple Podcasts.

Outline of the Episode:

• [00:48] We have an author who has raised $30M in private money on the podcast. Let’s welcome Dan Zitofsky – he’s also the owner of Passive Wealth Academy!
• [02:53] How can someone have everything that everyone wants in their life and still feel that they are living a lie? This is what happened to Dan and what prompted him to get into creating passive wealth.
• [04:44] For a lot of people, earning big commissions is probably more enticing, but for Dan, making several small amounts of money, putting that together, and having the ability to have free time is more enticing. Do you agree?
• [05:31] One of the fastest ways to build passive income is to have rentals. Create an extensive portfolio of rentals, and you can always have passive money.
• [07:16] Have you ever experienced almost closing a sale, but then the bank pulled out, or the private lending company decided not to push through? Frustrating right? This happened to Dan, which is why he created his own source of private money.
• [08:44] Are you interested in learning how to raise private money? Is this something that you feel you should know or do?
• [09:32] Are you aware that some of your social media posts asking for funding might not be SEC compliant? Make sure that before you post anything on social media, it’s compliant so you don’t get in trouble.
• [11:17] Did you know that the first thing you need to do when you get into real estate is not to create your social media but create a bio that shows your 5Ws: who, what, where, when, and why.
• [12:06] If you don’t know how to create a business plan, Fiverr can help you. You can hire people to do it for you.
• [12:28] Do you know what your plan of action is? This is important because you get to decide what you’re looking to do here.
• [13:51] Don’t just ask people for money. Have an action plan that shows them what you have in mind, what you are looking to buy, what the fees will be, and how much you will make from this investment. Make them want to give you their money.
• [15:32] Do you have your elevator pitch? This matters because you don’t know when an opportunity to present might arise.
• [18:10] You can’t just tell people to “mentor me.” You need to bring value to your potential mentor and make it worth their while.
• [20:12] Did you know that many people who mentor for free almost always have zero success? When people don’t put in an investment themselves, they don’t feel as obliged to push for their success.
• [23:51] Remember that when you chase money, it will be a problem. Money matters, but it should not be the main reason for things.
• [25:02] Marketing is not a cost. It’s an investment.

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