Narrating his personal journey, Dr. Janatha Withanachchi highlights how real estate investments allowed him to transition to an ideal part-time schedule, providing him with time freedom to spend with family, travel, and pursue his passion for educating fellow doctors on achieving financial freedom through real estate.
Breaking Down the Process
1. Deal Flow: Finding Opportunities
Outlining his initial approach of attending conferences, retreats, and summits to connect with industry movers and shakers. He emphasizes the importance of getting to know key principles in deals, scrutinizing their track record, and scheduling personal visits to properties managed by potential partners.
2. Evolution to Professionalism: The Fund Manager Group
Detailing a recent progression, Dr. Withanachchi introduces the fund manager group—a collective of 403 savvy real estate investors. This group enhances due diligence through the exchange of information and experiences with different operators. The use of a proprietary 202-point due diligence checklist further ensures a rigorous evaluation process.
3. Cherry-Picking the Best Deals
Explaining the meticulous funneling process, where deals are rigorously evaluated at multiple levels, only a select few, meeting all criteria, make it through to the end. These cherry-picked deals offer a highly vetted and trusted investment opportunity.
Building Deal Flow
Dr. Withanachchi sheds light on two primary methods of building deal flow:
a. Collective Network Utilization
The fund manager group leverages its collective network of 43 individuals, each with their own connections. This network becomes a valuable resource for identifying potential deals and operators.
b. Becoming a Recognized Hub
As the fund manager group gains recognition, operators seeking capital approach them willingly, knowing they will face tough scrutiny. This reputation attracts deals, and Fridays become the pitch day where sponsors present their opportunities.
The Win-Win-Win Scenario
Summarizing the process, Dr. Withanachchi emphasizes that the fund manager group not only ensures highly vetted deals but also creates a win-win-win scenario. Investors benefit from favorable returns, sponsors receive a large check with streamlined fundraising, and the fund managers facilitate the entire process.
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