How To Be A Successful Fund Manager w/Dallon Schultz

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Episode Description

Welcome to the Freedom Point Real Estate podcast! Today's guest, Dallon Schultz, joins Jeremy Dyer to break down what it means to be a fund manager, why you should know the story behind the numbers, and how you can cultivate efficiency and effectiveness.

Dallon is a seasoned fund manager and co-founder of Capitallyst Pro, a CRM built to help real estate investors raise capital more efficiently. Since starting in real estate in 2018, he’s gone from managing a fourplex to leading multimillion-dollar deals, with current projects topping $150 million. He also runs Arizona’s largest monthly multifamily meetup and hosts the top-ranked Millionaire Mind podcast. With a focus on streamlining systems and building trust, Dallon helps investors raise more capital while saving time—guided by his motto, "Be efficient and effective."

CONNECT WITH DALLON SCHULTZ!

LinkedIn: https://www.linkedin.com/in/dallon-schultz/

Website: https://www.capitallystpro.io/

Phone: 623-624-1190

CONNECT WITH JEREMY DYER!

Website: https://startingpointcapital.com/

Instagram: https://www.instagram.com/startingpointcapital/

LinkedIn: https://www.linkedin.com/in/jeremydyer

Facebook: https://www.facebook.com/startingpointcapital

Book a Call! https://calendly.com/startingpointcapital/discuss-investing-with-jeremy-dyer?month=2023-12

Summary

Tip #1: Show Up Consistently

"Number one is they show up, they do what they say they're going to do. There's a consistency that seems to be ingrained into everything in their life."

Dallon stresses the importance of consistency in achieving success. Whether it’s showing up for a meeting or fulfilling a promise, consistency builds trust, a critical component for any business relationship, especially when raising capital. Investors need to know they can count on you, and being reliable creates long-term value.

Tip #2: Be Relational, Not Transactional

"Everything about capital raising is on building relationships."

Capital raising is more than just securing money; it’s about forming connections that are mutually beneficial. Dallon highlights how treating investors as partners rather than just sources of funding fosters loyalty and leads to smoother future interactions. Building long-term relationships is a key to sustainable success in capital raising.

Tip #3: Use Automation to Stay Consistent

"Our tool really helps just through automation touch points through emails...even if it's not you personally reaching out, at least they know what you're doing."

Dallon explains that automation can significantly reduce the manual effort required to maintain relationships with investors. With the right tools, you can keep your investors engaged through regular communication, even when you're busy with other aspects of the business. This automation helps you stay top of mind and ensures that your relationship with investors doesn’t become neglected.

Tip #4: Personalized Touch with Technology

"It just reminds me like, hey I need to reach out to Jeremy...let me send him a selfie video and let him know that I'm thinking about him."

Dallon emphasizes the power of combining technology with personal outreach. While automation can handle the logistics, adding personal touches, like a video message, can make a big difference in maintaining an authentic connection. Technology shouldn't replace the personal aspect of relationships but should enhance it..

Tip #5: Understand the Importance of Note-Taking

"If you had a short note on that conversation with that person, it lets them know that you genuinely took interest in that conversation."

Taking notes on your conversations with investors is vital. Not only does it help you remember key details, but it also shows your investors that you value their input. This simple action can differentiate you from others who might not make the same effort.

Tip #6: Manage Growth by Staying Organized

"As you scale your business, that list can grow pretty quickly to 200 or 300, if not 2,000 or 3,000...so you need tools to help support that growth."

Dallon acknowledges that managing a growing network of investors can be overwhelming. As your investor base expands, organization becomes critical. Using CRMs and other tools helps you stay on top of communication and ensures that you're effectively managing a large network without losing touch.

Tip #7: Be Transparent with Investors

"No one's going to hold it against you if you don't remember the name of all their kids...people are very understanding of you not remembering all the details."

Dallon reassures listeners that investors understand you're human and that perfect recall is not necessary. Transparency, however, is crucial, especially when you’re managing multiple relationships. Being upfront about your intentions and maintaining clear communication fosters trust and understanding with investors.

Tip #8: Serve First, Sell Second

"Some of the most successful people I've met are the most generous, most giving, most servant-minded people."

Dallon identifies a key trait of high achievers: they prioritize serving others first. By focusing on the needs and interests of your investors, rather than just pitching your next deal, you create a foundation of goodwill. This approach builds trust, which can ultimately lead to greater success in both capital raising and business growth.

Tip #9: Efficiency and Effectiveness in Capital Raising

"How do we become efficiently effective? We use email marketing...we're scoring them basically on how engaged they are with us."

Dallon illustrates how combining efficiency with effectiveness can streamline your capital raising process. Rather than cold calling hundreds of investors, you can use data-driven strategies like email marketing to engage those who are most interested. This approach allows you to be more targeted, maximizing your time and efforts.

Tip #10: Start Small, Scale Smart

"Start sharing with your friends, family, your network, and then bring other people along for the ride."

Dallon advises new investors to start small by sharing opportunities with those closest to them before scaling. By learning the process and building trust with a small group, you can gain the experience and confidence needed to expand. Once you’re comfortable, you can begin tapping into a larger pool of investors and scaling your operations.