Happy Sunday. I thought some of you might be interested to get an update on the progress of my real estate Fund Culinary Oasis. 
To date, I have successfully raised $13.55M of the targeted $25M. For you math buffs, that’s 54%. I am excited about the results thus far adter just three months.
The Fund has acquired 100% of Hamakua Hotel and 50% of Waterfalling Estate. Lori & I fly to Italy in two weeks with our team and eight couples to experience Villa Riviera Resort together. Its our Innaugural Investor Retreat. We hope to have a signing party to officially enter escrow while I am there. It was the first retreat I’ve run in years. 
In order to get to my targeted goal, I have come up with a three pronged strategy:
1) Raise another $1.5M from my network. I am thinking about lowering the minimum commitment from $100k to $50k so I can finish up quicker. DM if this intrigues you. 
2) Secure a $2M loan to buy the 22-acres next door to our hotel in Hawaii and begin the development entitlement process.
3) Raise the final $8M from Family Offices that invest in hospitality.
The first two parts of this strategy are already in my wheelbarrell as I have quite a bit of experience doing both. Reaching out to family offices however, is a brand new skill set that I’m gonna have to learn and develop. I do not have any existing relationships in that space.
For the first time in a very long time, I signed up for a mastermind coaching class that begins this week. As you guys know, I’m usually the one teaching these kinds of classes😎 but there’s always a day! It will specifically train me on how to master the art of reaching out to family offices to raise capital.
I’ve always enjoyed learning new things and this should be no different. Family offices typically invest $1M to $4M per deal, so becoming good at attracting such commitments would greatly benefit the completion of this fund and all future funds that I launch.
All these dollar amounts might be foreign to you but they aren’t the point. Please note that the process of learning and attempting to master a new craft is not. Whatever skillset you don’t currently possess, but desire to, is only possible if you just make the commitment to try.
I will keep you posted on my progress. In the meantime, enjoy this stunning sunset from Hawaii.
