Investor · The Woodlands TX / Avon, CT · Member since 2009 · 6k+ posts · 10k+ votes
I recommend "Priciples of Real Estate Syndication" by Samuel Freshman. Any other recommendations for books on real estate partnerships or syndications?
Real Estate Investor · Beverly Hills, CA · Member since 2010 · 10 posts · 7 votes
16y
I second Gene Trowbridge--
he's both an Esq. and a CCIM
"It’s a Whole New Business" is in it's 2nd edition... and better written than were some of my law school textbooks [less theory, more real world application]
Investor · Round Rock, TX · Member since 2010 · 8k+ posts · 4k+ votes
16y
Originally posted by Don Konipol:
I recommend "Priciples of Real Estate Syndication" by Samuel Freshman. Any other recommendations for books on real estate partnerships or syndications?
Freshman's book is a bit academic for my taste. It had a lot of great information in it, but I couldn't take it and put the information into practice. I knew nothing about Gene Trowbridge....thanks to others for posting about that.
InvestorTours University in Austin has some great material, but it doesn't amount to a book. Joel Block also recently founded The National Association of Syndicators and does bi-annual seminars to build a network and educate on the subject.
The best education I have had on the subject is working with a 35-year veteran and seeing how he structures deals and securities. A lot has to do with how the deal is presented and what you can offer LPs you approach. Your track record is obviously a big draw for capital to take down deals too.
Developer · Baltimore, MD · Member since 2008 · 11 posts · 17 votes
16y
Don,
"Priciples of Real Estate Syndication" by Samuel Freshman is a GREAT book.
Another way to find good titles is to go to the Library of Congress website and search for books about Real Estate Syndication. There are a bunch of them. Then go to Amazon and eBay and you can generally pick up a few of these titles for a couple of bucks.
Personally, I like reading out of print books because most of the information they contain serve as the foundation for the way things are done today.
Just be careful with the books that were published before 1986 as it relates to Tax benefits.
Some titles I have read are:
How to Put Together a Real Estate Syndicate or Joint Venture by Daniel S. Berman
How to Play the New Real Estate Syndication Game by Richard R. Solem and Roger J. McClure
Limited Liability Company for Group Investments by Fred Crane
I have a few more, but I honestly don't feel like going to dig them up! LOL!
PM me if you want or need more titles. Hope this helps.
Investor · Round Rock, TX · Member since 2010 · 8k+ posts · 4k+ votes
15y
Sincere thanks to Gene Trowbridge for shipping me a free copy of his book. It is in my pile of reading for this year. I'll report back when I finish it.
Investor · Riverside, CA · Member since 2011 · 2k+ posts · 3k+ votes
15y
I am very interested in syndication. I have done quite a few deals with other investors in my Equity Participation Program (EPP).
It basically works like this: I get a contract on a property that would be a great rental. I bring in an investor who pays into escrow an amount enough to cover the acquisition, escrow, rehab, and a fee to myself. Escrow records a trust deed against the property for the amount the investor paid. We close in a trust of which I am the Trustee. I handle the management and withhold impounds to cover taxes, insurance, a % for maintenance, and I get 10% management fee.
This program has worked exceptionally well. The real beauty of it is the acquisition fee, generally $10,000, which is part of the recorded TD. Because it is borrowed money, it is not taxable to me until the property is sold.
My investors are protected with an equity cushion because of my low acquisition price, they are averaging 9% return on their invested cash, and the operating agreement states that we split the upside (above their TD amount) 50/50.
I think syndication would take me to the next level. I have read only one book on it and it was by a California company named First Tuesday. This book has all the forms in it.
Great topic! I will definitely go to Amazon and add Samuel's & Gene's books to my wish list.
Investor · Riverside, CA · Member since 2011 · 2k+ posts · 3k+ votes
15y
Hey Gene,
I just checked Amazon for your book and there are only 2 used ones available. They start at $81,922.69. You might want to think about release a few a month and cashing in!
Must be one heck of a book! How can I get a copy at the BP discounted rate?
Investor · Round Rock, TX · Member since 2010 · 8k+ posts · 4k+ votes
14y
I wanted to see if anyone has any other suggestions for useful literature. I am wearing the list above pretty thin and my stack of books is at about 8 or so in queue ;-)
Investor · Rancho Cucamonga, CA · Member since 2008 · 1k+ posts · 684 votes
14y
I had a chance to meet Sam Freshman a couple months ago at his office. That guy is the real deal and shows what syndication can do for you! Pretty cool setup he has.
Investor · Round Rock, TX · Member since 2010 · 8k+ posts · 4k+ votes
12y
Not yet. It is in my long queue of stuff to read in my "spare time." I found the first part to be more legal in nature, which is not really something I need to spend a lot of time on. I am more interested in learning more about sourcing investors and raising money than the legal infrastructure.
I was curious because at the $295 price tag I wasn't sure it was worth the cash as opposed to other books on the subject. I don't mind paying $50-75 for something with a lot of content but $300 is beyond text book prices.
San Marcos, CA · Member since 2014 · 1 post · 1 vote
12y
I'm very interested in learning more about Real Estate Syndication. It sounds like Samuel Freshman and Gene Trowbridge are the two authors that most people suggest? I have heard great things about Gene's book, but can't get past the price tag. Is it worth it?
8 years later... Gene Trowbridge's It's A Whole New Business book is much more affordable on Amazon $20-30. Also available on Audible. I should finish it this week.
