Seasoned Real Estate Investor Closes $10M Deal Through Opportunity Network
Noah Rosenfarb, real estate investor and member of Opportunity Network, signed a $10M deal thanks to the reliability and quality of the connections made through the platform.
Noah Rosenfarb is a Personal CFO and Holistic Wealth Coach dedicated to advising business owners on their entrepreneurship journeys. He himself owns several different companies, each dedicated to a specific need. At Freedom Business Advisors, for example, Rosenfarb guides entrepreneurs through successful transitions out of the management and/or ownership of their company. Additionally, he provides negotiation strategies for merger, acquisition and divestiture activity.
For 20+ years, he’s been a real estate investor in the United States. In spite of the future recession predictions, this market has been described by Lawrence Yun, chief economist for the National Association of Realtors, as being “on firm ground with little chance of price decline”.
Rosenfarb owns interests in more than 3,500 apartment units and over 500,000 sq ft of office space and retail shopping centers. His latest acquisition is a 100 unit complex in Stone Mountain, Georgia. He was able to find this strategic deal through Opportunity Network, the platform for CEOs where 30% of the live deals in real estate opportunities are based in the USA, with a total deal value of $9.2bn worldwide.
When a Fit is Found and a Relationship is Built
Opportunity Network connects over 26,000 CEOs and C-Level executives around the world looking to close deals across any industry. Since every member must be screened by a trusted partner before joining the network, the platform works by providing a safe environment where top executives can cover any business needs in one place.
This reliability encouraged Rosenfarb to connect with as many real estate opportunities as he found interesting. Even if some of them were not exactly what he thought he was looking for, he made a number of relevant connections within the industry.
“I recognize that they’re providing value in the marketplace, it just might not be the value I was looking for”, Rosenfarb explained.
One particular connection eventually proved to fit what he was looking for. Rosenfarb met with the CEO on the other end, visited his property, and continued to grow the relationship until both had the key ingredient for any business: Trust. In less than a year after connecting, they moved forward and signed a $10M real estate deal.
Experiencing a New Way to Make Bussiness
Before this, Rosenfarb used to find deals through referrals and word of mouth. Occasionally he would attend trade shows, conferences, and meetups for professionals in the real estate industry. Event after event, he would “have to start from the ground floor of a relationship” with other attendants who he knew nothing about. Even after investing his time in meeting fellow colleagues, Rosenfarb felt that sometimes “they were simply not playing at the level”. At the end of the day, traveling to each of these shows, booking accommodation, and not getting to know the right people did not seem to pay off all of his efforts.
Since he joined Opportunity Network, Rosenfarb has changed the way he invests his time in finding deals. He still attends trade shows and keeps taking referrals, but now his lead growth has multiplied thanks to the platform
“I might be able to meet ten people on Opportunity Network within a couple of hours of clicking around,” he shared about his experience.
“It has allowed me to make trusted, valuable connections, where there’s a certain level of mutual respect [because] everyone is credible, they have a real business, and they’re the type of people who you want to do business with. They’re doing the types of deals that are significant & real.”
In this way, the platform aligned with what he values most: efficiency, reliability, and quality of contacts.
“Even if it’s not a fit, the quality of the people I’m meeting, and the quality of their businesses is very high.”
Today, Noah and his new business partner are both looking toward the future and are continuing to expand their partnership beyond just the one deal. They are under contract for a $22.5M deal that should close in February, and hope to do $100M of transactions together in 2020.
Noah Rosenfarb is currently a member of Opportunity Network
Accelerate your growth with the right business partners.
Tell us know what your business need is. We'll show you how to discover the best counterpart.
Opportunity Network reports a 6 fold increase in connections as its 28,000+ members look to the online platform to help keep their firms running.
With Covid-19 forcing a global lockdown, CEOs rush towards digital solutions. Spurring a digital revolution that is shaping the future of business.
Digital Disruptors in the financial services industry are reporting a sharp adoption curve. Alberto Constans breaks down what this means for established firms and the industry as a whole.