As we get ready for 2023, I think it is important for those in the multifamily space to analyze their companies and determine what is standing in the way of their business growth. I've broken it down into three general categories:

1. Finding more deals
2. Raising more capital
3. Operations and project management

For most investors, one of these categories is prohibiting business growth. As a multifamily marketing expert and business consultant, I wanted to provide some tips on how to address each of these growth prohibitors.

1. Finding more deals: Let's face it. The multifamily market is more competitive than ever. The key is finding off market opportunities, which often allow you to purchase at more favorable terms by avoiding competition. There are many ways to do this. A couple are below:
- Foster broker relationships: Brokers are equally incentivized to sell properties off market as it is much less work for them. Posting broker relationships gives you the opportunity to hear about properties before they hit the open market.
- Cold outreach: It may seem like a marketing tactic from the 80s, but the truth is that cold outreach is still very effective in the multifamily space. From mail flyers to PPC (Pay Per Click) keyword ads, it is now easier and more affordable than ever to reach property owners who may be interested in selling.

2. Raising more capital: Ultimately, it isn't possible to acquire more properties if you don't have the capital to do so. The key here is growing a network of accredited investors and nurturing them effectively. Too many of my clients focus too much on how many investors are in their database. At the end of the day, that's just an arbitrary number. What's much more important is how much capital you can raise tomorrow. That may partly be a function of how many people are in your network, but its also a function of their net worth, liquidity, and trust in you/your business to be comfortable writing a check. In short, focus on growing your investor network, but don't forget to focus on nurturing existing leads and past investors.

3. Operations and Project Management: Scaling your investment business requires effective systems, processes, and record keeping. When you find that the majority of your time is being spent on operations and project management, 99% of the time, that is the result of a lack of systems. Here are some I recommend:
- ClickUp (project management): Customizable to multifamily workflows; strong access controls to protect information; easy access to crucial documents and files
- Active Campaign (CRM & Automation): Effective lead/investor management, providing investor updates, and managing the capital raising process
- Syndication Pro (Investor Management System): Central hub for facilitating investments, including easy management of paperwork

A couple simple changes may be all it takes to transform your business in 2023. I'm happy to help how I can, so please feel free to reach out.