Raymond T. Hightower is a tech company founder and commercial real estate investor operating in the State of Arizona, USA. Growing a technology company for twenty-one years and ultimately selling it gave Hightower a boots-on-the-ground education in business execution and vanquishing obstacles.

Driven by a desire to improve the world through business, Hightower launched ROIClear (formerly BizDayGlobal), the video podcast where business leaders serve others by sharing knowledge. Hightower is active with the Boy Scouts of America where he teaches future leaders about budgeting and time management.

In 2017, Hightower launched Bridgetown Partners. Bridgetown is a buyer of commercial real estate in Arizona, Tennessee, and Texas, with a special focus on 50-150 unit multifamily properties.

In this episode, Raymond explains the acquisition process from underwriting to selecting a property management company, as well as why it’s important to take an empathetic approach towards residents and investors. He also talks about how people getting into real estate as co-sponsors or GP's often don't get to experience the full scope of asset management. Lastly, he discusses capital raising and how it requires building relationships with potential investors. Topics include calling friends, attending events, building automated systems, staying in touch even if people don’t invest and getting out of a follow-up loop by emphasizing that friendship is not contingent on an investment. Tune into this episode to hear more about the importance of asset management and capital raising in real estate investing.

[00:01 - 08:12] Insight on Real Estate Investing and Asset Management

• Raymond T. Hightower runs a company called Bridgetown Partners that buys multifamily apartment properties and invites investors to participate
• Asset management starts in the PPM, when deciding how to distribute GP shares and asset management fees, and who will be the boots on the ground
• Asset management is involved in the acquisition process, underwriting, and selecting a property manager
• Asset management is woven into all aspects of real estate investing
• Co-sponsors or GPs may not get to see the full scope of asset management

[08:13 - 15:22] Navigating the Rapids: Tips for Closing and Capital Raising in a Volatile Market

• Capital is necessary to get a deal across the finish line, but taking an active role in weekly meetings can help build trust with investors
• Trust is achieved through competence and credibility
• In a tertiary market, property management companies may be familiar with the property already
• It is important to have an accurate CapEx budget to avoid surprises
• Closing fees are not known until the day of closing, so it is important to hit the amount to close and then fully subscribe later if needed
• Navigating the capital raise process can be challenging, but there are benefits such as locking in interest rates

[15:23 - 22:57] Closing Segment

• Raymond reminds people that investing in a deal has no effect on their friendship or relationship with you can help get them talking again
• To learn more about Raymond and his work, listeners can visit bizdayglobal.com!

Tweetable Quotes:

“What better way to build trust with your investors than to know the product intimately and to be able to talk about what's happening.” – Raymond T. Hightower

“If interest rates are volatile and you don't know where they're going, once you hit that amount to close, go ahead and close lock in that rate.” – Raymond T. H