Part of running a syndication business is accomplishing many administrative tasks. And, one way that many entrepreneurs are addressing this is by hiring a virtual assistant or VA who can help them remotely. Today, our guest Charlie Wessel of Cordell Capital details how a rock start VA can help you with capital raising.
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Charlie says you can automate all the emails you want to, but you got to get personal with your investor. With this, he is using his VAs to send out emails and reach out to potential investors. He also discusses how he prepares for a downturn by sticking to conservative underwriting. Listen now and find out how to find the right VA to help you in your business!
Key Points From This Episode:
- Charlie talks about his background in real estate.
- The steps Chalie took to start growing his business.
- Charlie details how he educated himself about real estate syndication — reading, listening to podcasts, and going to conferences.
- Charlie talks about his first deal and how it was affected by the Covid-19 pandemic.
- How did Charlie raise capital?
- How did a virtual assistant help Charlie with capital raising?
- The power of personal connection with your investor.
- Charlie shares the process he had when he hired his first rock star VA.
- What are the roles of Charlie’s VA in capital raising?
- How does Charlie prepare for a downturn?
- Charlie shares which CRM they are using: Calendly and Active Campaign.
- The daily habit that helped Charlie achieve success: have quiet times in the morning.
- How does Charlie like to give back?
“There is nothing that takes the place of a good phone call to somebody or a one-on-one. Don’t get me wrong, I mean, you can automate all the emails you want to, but you gotta get personal with your investor, somehow you have to get personal with these investors” [0:07:35]
“I would definitely recommend the VA if you don’t have one. I mean, that’s been crucial to my business.” [0:18:45]
Links Mentioned in Today’s Episode:
About Charlie Wessel
Founder of Cordell Capital, Charlie has also founded and managed several successful companies in the Charleston SC area. He has been involved in Multifamily / Commercial Real Estate in one aspect or another since 2006. Active investor since 2016, he set up Cordell Capital to bring private equity to investment opportunities. We provide conservative underwriting and extensive due diligence on our investment opportunities to make sure we are taking the most conservative approach to invest and building wealth alongside our investors. Currently, we own 364 doors in the Multifamily space. A total of $23,950,000 assets under management.
This past February 23, 2021, we have fully funded and closed the deal with 2200 Midtown apartment homes located in Greensboro, NC. Apart from this, we also closed a deal with Abby Lake worth $8,600,000, and River Ridge worth $9,100,000. A total of $23,950,000 properties under management.
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