The Routine of a Successful Multifamily Syndicator

People who are engaged in multifamily syndications have a lot of things to handle on a daily basis. To be successful in this field, it’s important to develop a daily routine which lets you maximize your time and allow you to get a lot of things done within a short period.

In my case, I handle a lot of activities on a day-to-day basis. I am able to get around this issue by simply listing down everything I need to do to complete my day. Sure enough, this system has allowed me to accomplish a lot of things.

On my part, I really believe in the 20/80 rule, that 20% of your daily very important activities bring 80% of the results. The better thinking and planning we do the better the results.

Meanwhile, let me fill you in on my daily routine:

Do brisk walking

Exercise is a great way to kickstart a productive day. After all, a fit body supports a fit mind. For that reason, I make it a healthy habit every morning to take a brisk walk around the neighborhood. While I’m doing that, I’m also thinking about the tasks I am set to accomplish for the day. Doing this allows me to relax my mind and create effective solutions to critical problems. All this while I keep my body fit!

Listen to podcasts

I am a big advocate of education. In fact, I have set up three multifamily syndication academies where I am able to share everything I know about the area. As much as I like to give knowledge, I also like receiving it from influencers in the real estate industry. Even though I have been an experienced multifamily investor for the past 12 years, I believe that there’s still more for me to learn about the multifamily sector.

Every day, I read a lot. I listen to podcasts by investors, syndicators, property managers, and even life coaches. I get to learn a lot of new concepts and strategies from them, and these learnings have made it to achieve success. I listen to about 10 to 15 podcasts a week. So, if you want to be an expert in the field of multifamily syndication, it’s good to start searching for podcasts that you would like. Here's an added tip: try exercising while listening to podcasts. It's a great way to make full use of your time.

Motivate your staff

Every morning, I send my staff motivational quotes and messages that can inspire them into working harder. I have closed 26 syndications ever since I started in the multifamily sector, and through my experiences with these syndications, I was able to realize the importance of nurturing people and helping them grow. To be a successful leader in your niche, it’s important to find some time to talk to your staff and provide guidance. Your secretaries, as well as your asset managers, need motivation so they can do a great job. Remember: being the leader of the syndication means that you’re also the coach.

Check your numbers

Before you end the day, it’s always best to check your numbers and make sure your cash flow is healthy. I am more of a hands-on kind of guy. I would like to be shrewd when it comes to looking at numbers. When it comes to accounting, I make sure to check the books and examine every single figure I come across.

I make sure to call up our community managers and asset managers and ask them about the situation in their area. I also call up the accounting department to know if the invoices are paid on time. Doing these simple habits enables you to maintain full control of your assets and your resources as well.

What is your daily routine? I’m very interested to find out more! Share them in the comments below.