How To Be Taken Seriously as an Up-and-Coming Real Estate Syndicator

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We syndicators have it rough: we try to buy apartment buildings without having the cash or credit ourselves to do so.

Instead, we rely on a group of investors to put up most or all of the cash.

Especially if we don’t have a track record, it’s tough to be taken seriously – by anybody, but especially the commercial real estate brokers on who we rely on for deal flow.

Follow these Steps and See How Far you Get:

  1. Cold-call a broker and tell him you’re looking to buy a $1M building.
  2. The broker will say “great, send me a proof of funds and I’ll send you over some deals”.

Now you’re dead in the water.

What can we do to be taken seriously if we’re using other people’s money and don’t have a track record?

Related: What is Real Estate Syndication – Really?

In this short video, I talk about how to create credibility by creating a sample deal package that will impress the socks off any professional you’re calling on.

In addition, it’s critical to analyze a deal when you get it and get back to the broker with the most you can pay for a deal and also why. Most potential buyers never do this, and this will set you apart from the pack. It also builds trust because the broker gets feedback about the kind of deals you’re looking for and how you underwrite them.

And I have one more tip for you to address the standard “show me the money” response and how to overcome it (but you’ll have to watch the video to hear about it -;)

OK, enough talk, let’s watch the video.

 

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About Author

Michael Blank’s passion is being an entrepreneur and helping others become (better) entrepreneurs. His focus is buying apartment buildings by raising money from private individuals. He’s been investing in residential and multifamily real estate since 2005. He is the creator of the Syndicated Deal Analyzer and the eBook "The Secret to Raising Money to Buy Your First Apartment Building".

8 Comments

  1. Great Video Post, Michael.

    I also enjoyed the Podcast and your story about the “professional tenant” – it had a nice ending. Weird.. but kinda makes sense. Sometimes people just want to ‘matter.’ Although it definitely made me worry more about the turnkey deals that come with a ‘tenant’ in place!

    Hope to learn more from your blogs in the future!

  2. Great article. I’m not always big on the vlogs because I’m usually reading here and there but I couldn’t skip over this one. I really like the letter of intent from other investors. I hadn’t thought of that before and its a great way that you have some potential backing you up without telling people they HAVE to be committed. Thanks!

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