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How to Raise Capital with Dave Dubeau

George Grombacher August 18, 2022

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How to Raise Capital with Dave Dubeau

LifeBlood: We talked about raising capital for real estate deals, one of the biggest mistakes new investors make, and how to create a process to successfully market, with David Dubeau, host and creator of the Money Partner Formula. 

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You can learn more about Dave at DaveDubeau.com, RaiseCapital101Show.com and LinkedIn.

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Our Guests

George Grombacher


Dave Dubeau

Episode Transcript

george grombacher 0:00
Come on I’m left with this is George G and the time is right. welcome today’s guest strong and powerful Dave Dubrow. Dave, are you ready to do this?

Unknown Speaker 0:18
I’m ready to rock and roll George. All right, let’s

george grombacher 0:20
go. Dave is the host and creator of the money partner formula. He and his team work Mom and Pop real estate investors providing done for you marketing services to help them raise capital, best selling author, speaker and podcaster. Dave excited to have you back on the show. Tell us a little about your personal lives more about your work and why you do what you do.

Unknown Speaker 0:41
Oh, thanks a lot, George personal life I am a happily married guy second time around to my lovely wife, Miss Max. We just got back recently, from a wonderful trip to the Balkans and Greece in Europe. Traveling is one of the things that we love to do. That was an amazing trip. I don’t know if you’ve been in that neck of the woods before George but highly recommend it. never even thought about that area, but just fantastic. live up in beautiful British Columbia, Canada. And that’s, that’s our home. I’ve got two wonderful grown children. I’ve got a wonderful step, son. And life for me is all about helping mom and pop real estate investors get started with raising capital. So I’ve been in and around real estate investing. Since about 2001. When I first got started way out in San Jose, Costa Rica, of all places, Costa Rica and Central America actually lived there for 10 years. He started dabbling in real estate there, then when I moved back to Canada, jumped in with both feet in about 2003. And since then, one way or the other, I’ve been involved in real estate investing and for the last six or seven years really, really focused in on helping other investors get started with raising capital.

george grombacher 1:55
Awesome. Okay. So people need help with that. And I imagine that I imagine there’s probably a lot of ways to screw that up.

Unknown Speaker 2:06
Yeah, like, yeah, sure, like anything else? Yeah. Yeah, we get figured out what I’ve screwed it up royally on numerous occasions, that’s for sure. So they say a smart person learns from their own mistakes a wise person learns from the mistakes of others. So hopefully, hopefully, your listeners can learn some stuff and be wise.

george grombacher 2:24
Yeah. So what are some of those just to sort of follow that thread? What are are? Are there things you look at? So you know what, this? These are some common ways that that we get in our own way?

Unknown Speaker 2:36
Oh, my goodness. Yeah. So in real estate, there are a lot of gurus out there that have this saying they love to throw around, which is, hey, you know what, if you just find a really good real estate deal, the money will find you. And I kind of bought into that early on, because it’s saying, Oh, it kind of makes sense, hey, I got a really good deal that’s going to be irresistible, three people are gonna want to invest. But actually, nothing could be further from the truth, George. So when again, learning learning from my dumb mistakes, I was in that situation, I got into a strategy, I was self financed, my first couple of deals ran out of cash run out of credit. And of course, that’s when the perfect deal landed in my lap. Wasn’t a really big deal. I needed raise about $85,000 for that deal. So I got it. I figured, hey, this is a great deal. I crunched all the numbers had everything figured out. It’s going to be a phenomenal return for my investor partners. The only challenge was I didn’t have anybody lined up. So I had about two weeks to raise the money for this deal. And I tried everything I had heard of about raising capital. So I’d heard Hey, if you need to raise money for a deal, pick up the phone and start calling people in sales. They call that dialing for dollars. Well, I’ve never really done that before George so I had no practice no clue about it. picked up the phone dial, rejected, rejected, rejected, rejected, rejected, rejected, you cover a financial planning background, I’m sure that was drilled into your head, you know, pick up the phone and dial for dollars. It’s no fun, man. It’s definitely no fun, especially when you’re you know, you’re under the, under the wire when you’ve got to raise money quickly. What I found is that desperation just kind of didn’t matter how good the deal was. The desperation oozed out of every pore in my body, and people could pick up on that vibe. And that just kind of creep them out. It just kind of, you know, if you’ve ever been with somebody who’s trying to sell you something and you can just smell it, they call that commission breath. If you can just smell that on the other person. It actually repels you. So Dialing for Dollars didn’t work for me. I was already eight if you need to raise money fast, go out and turn every conversation into a real estate conversation network. schmooze, use your 32nd elevator pitch, do all this kinds of stuff. So I got my little business cards in my briefcase and I went out to the Chamber of Commerce in BNI. And Toastmasters and pretty much anywhere they let me in. Had my little elevator pitch polished up, spilled my way through every meeting I could, and raised absolutely nose cap. And by this time about a week and a half has gone by, I’m running out of time. I’m getting really nervous. So I thought, hey, I came up with a brainwave. Hey, if enough people see this deal, it’s so good. It’s going to sell itself. That’s what I convinced myself. So I put together a little PDF about my deal. Put together a list of a couple of 100 people that I knew. And I spammed, I mean, I emailed them, all of the all of those people that message. I remember this vividly. Georgia was a Wednesday night. send that out Wednesday night. Got up Thursday morning, I was so excited because I saw a whole bunch of replies that come to my email. Not all thank goodness, I finally cracked the code. And then you know, the rest of the story, George, I started reading the emails and they all basically said, hey, the bow. Dude, haven’t heard from you in forever. One guy hadn’t heard from me in 18 years, George. Haven’t heard from me in forever. And here you are hitting me up for cash for a deal. Take a hike. The deal imploded, I had to back out of that that was in I live in kind of a small town. So obviously, I mean, I tied up the property for a couple of weeks. So I ticked off the seller ticked off the realtor that was involved my realtor, their realtor, ticked off the mortgage broker. And this particular deal, I already had a tenant locked up for this property they given notice where they’re living, they were ticked off, we were all scrambling, major egg on my face. And that’s when you know, after I quit pouting for a while, and I kind of sat back and said, There’s got to be a better way to raise this, we’ll do this whole capital raising thing. So I thought, hey, I’ve got a background in marketing, why don’t I try applying some intelligent marketing, and see if we can turn this around instead of desperately chasing after people when I got a deal on hand? What if I start marketing my deals before I’ve got them, get by investors lined up, ready to go in the wings, and then go make offers on property. So that’s what I started doing. George worked like gangbusters for me, when I was doing single family homes raised close to a million bucks for that got into multi raise multiple millions of dollars for those kinds of deals. But more importantly, over the last six, seven years, we’ve helped over 200 clients cumulatively raised well over $300 million in counting for their deals following the same process.

george grombacher 7:31
Nice. Yeah, there’s a reason that you cut wood all chop wood all summer long, it’s not intend to burn it in the summertime, you’re chopping it for the winter time. So

Unknown Speaker 7:40
and it weighed it helps if you got a sharper axe to pan

george grombacher 7:44
and you want to sharpen the axe? For sure. These are these are also I like that. There’s wonderful lessons there as well. All right, I think we’ve all had that experience. Well, I shouldn’t say that. I know that I had that experience when I was starting my career of just going out there with that commission breath. And

Unknown Speaker 8:02
I you know what, I’ve got a soft spot in my heart for financial planners, my brother was in that business for 23 years. I remember hearing his horror stories about the early days and all this stuff they told him to do and, and all that kind of stuff. And it’s like, I don’t know how anybody makes it through the first year. It’s a tough haul, man. So my hat’s off to you for thriving. Yeah. Well, thank

george grombacher 8:25
you. Thank you. All right. So in. It’s difficult. So I, I guess what you just laid out certainly makes sense. Because you are trying to do lots of things at once. Yeah. So how do you figure out how to be spending your time? Is it just carving out a little bit of every day to be in cultivating your network?

Unknown Speaker 8:51
Yeah, that’s a really good point. That’s a good question, George. So I think the best way to do it is to actually create a process. Well, I mean, that I’m biased, because I’ve come up with a process, right? So but I just find, I don’t know about you. But if you’ve got a system, if you got a process, if you got something that you know, works, then you just kind of keep doing what and once you get it set up, it’s so much easier to maintain that than to start over from scratch and reinvent the wheel all the time. Right? It’s just it just makes sense. So my whole philosophy is for real estate investors, you need to be doing a couple of things all the time, you always need to be taking care of your portfolio, whatever that looks like self managing or managing your managers that’s, you know, taking care of businesses important. And then you need to be looking for new business. So that means looking at new deals, and it also means having conversations with prospective investors at the same time, right all the time. So a big mistake I see a lot of people doing is they are so sporadic with their marketing, right? They get a deal on the go. They Hustle Hustle, hustle They bust their butts trying to raise capital for that ideal. Excuse me, they may or may not succeed at that. And then it’s crickets until the next deals on the go. And that’s a big mistake. So what you need to do instead is what I call constant and consistent Ed, you taining communication constant, consistent edutainment communication means that well, when we’re working with clients, every single week of the month, week, in week out month after month, month after month, there is consistent marketing going up. Now, it’s a specific kind of marketing. George, it’s not salesy marketing, is what I call a do taining. Marketing. And what I mean by that is that most for most of us who are real estate investors, we love this stuff, just kind of like you’re in the financial space, you love that stuff. But I think what you have realized, and what I’ve realized over the years is just because we love it does not mean the average person loves it. So what we need to do is we need to dial it down to their level, we cannot assume that they are as enthusiastic or as interested in this as we are. So what we want to do is we want to provide a little bit of education and easy that to bite sized chunks, along with ideally a little bit of entertainments, right? So I’m not talking about goofy stuff, but I’m talking about fun stuff. So for example, I’ll give you a great example. With our clients the first month, the first week of the month, is their electronic newsletter, that’s their E zine is going to be going out and the E zine is a combination of what they and their family have been up to for the last month. So lots of pictures, lots of visuals, fun stuff, right? You know, trips, they’ve taken favorite books, you’ve read your favorite movie, you just watch, whatever what’s going on in your life. And then a little bit about what they’re up to with real estate without going over the top without overwhelming people, the stats and data and charts and graphs. And then some little fun stuff in there as well, along with a clear call to action. Hey, if you’d like to find out how this could work for you go ahead, click on the link below book a time. And let’s have a conversation and see how this can work. Right. So that’s a great example right that every single the first week of every month, that’s what goes up. The next week, it might be a blog post. So short little article, keeping it entertaining as well. The following week, it might be a video blog. So short little video three to five minutes long. Talking about something specific to do with what you’re up to with real estate investing, educating people that way without going overboard. So again, each week grip grip grip, something new, something different, each one with a clear call to action. Does that make sense? George?

george grombacher 12:49
It does love it. Yeah, entertaining. Yeah, man. That’s what we try to do in small bites and just being consistent with

Unknown Speaker 12:59
it. That’s that’s exactly what you do with your podcast, right? I mean, that’s a great example. You’re coming out week after week. Actually, I think you go out multiple times a week, if I’m not mistaken. So it’s that consistency of that messaging. That’s part of the reason why you’re so successful.

george grombacher 13:15
But I’ll make sense. Something’s a problem making a process. You go back and start. I love it. Well, Dave, goodness, a couple already. But people are ready for that difference making tip. What do you have for them?

Unknown Speaker 13:27
Difference making tip? Well, you know what I think? Actually, I don’t think I know this. I know that givers gain, right? So so many people have seen this over the years. It’s all about me, me, me, me, me. And they’re that’s all they’re thinking about. And again, I get it. We’re all thinking about ourselves. However, if you are willing to be the first one to lend a hand, the first one to provide value that goes so far, so don’t always be thinking about what’s in it for me. But think about how can I provide value first, before making an ask? Well, I

george grombacher 14:07
think that that is great stuff that definitely gets Come on. Dave, thank you so much for coming back on the show. Where can people? How can people connect with you? Where can they find you?

Unknown Speaker 14:18
Well, thanks my friend. So I’m really excited because I’m just launching a brand new podcast. So if you’re a real estate investor and you’re interested in raising capital, I’ve got the podcast for you. It’s called the how to raise capital one on one show for real estate investors. Wherever you listen to podcasts, you can find that or you can go to raise capital 101 show.com and George the whole purpose of the show is to help newbie real estate capital raisers get started raise their first six figures and matter weeks, and even their first seven figures in a matter of months, even if they’re starting from scratch. So again, that’s the how to raise capital one on one show.

george grombacher 14:54
Excellent. If you enjoyed as much as I did show, Dave your appreciation and share today A show with a friend who also appreciates good ideas. Go to raise capital 101 show.com at raise capital spelled out and then 101 show.com and find the how to raise capital one on one show wherever you listen your podcasts. Thanks good, Dave. Thanks so much George. And until next time, keep fighting the good fight. We’re all in this together.

Transcribed by https://otter.ai

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