Curious about syndication?
Investor · Garwood, NJ · Member since 2018 · 66 posts · 66 votes
Hi all - my husband and I transitioned from investing locally in small multifamily properties to participating in large multifamily and net lease syndications, both passively on the LP side and actively on the GP side. Still seems like a lot of people aren't aware about these opportunities or how they work, so I'd love to share our experience to help others. Please reach out if you have any questions about syndication!!
I started in 2010 and am a serial serial passive investor in MF syndications, just invested in #61, 26 have gone full cycle. I was the other fellow with Kenny in the cabal to replace the sponsor mentioned above. Both Kenny and I were trained by Brad Sumrok and I have invested with Kenny in 10 of his deals. And yes MF has been very, very good to me!
@Steven Le and @Alex Le, DFW is a hot bed of meet-ups; go, meet folks doing this, ask & learn; most folks are helpful. The Hand-Off Investor is a good book for passive investors. Also consider Paul Moore's The Prefect Investment which is a quick read and a great primer.
This asset class has been very profitable, but I offer a couple comments.
#1. One can use a SD IRA or a Solo 401K, but learn how they work! Do the math! All IRA gains are subject to UDFI; Solo 401Ks are not. All trad (non-Roth) retirements will add to your bucket that will come to you as ordinary income and forcible so when your RMDs start. If you are of the rich mindset, you will be paying taxes at a higher rate, RE pros possibly excepted. Also, neither IRAs or 401Ks enjoy the "step-up-in basis".
#2. For the first time non-RE Pro investor today, you will not likely see any, perhaps minimal, benefit to all the hoop-la about Bonus Depreciation. Yes, you will carry it forward to the sale of the property, but on your first deal, that works out to being about the same as not having it. The benefit would be when you sell and buy the Bonus Depreciation on the purchase then will off-set your gain. But by that time BD will likely be gone. Sorry!
#3. An investment in a syndication is not open to a 1031 exchange. Technically. it can be done, but practically not likely. I've seen only one.
With that said, I do not want to sound sour on this asset class, I've made big gains, I just want you to understand so that you are not over sold.
Be sophisticated (learn how it works and know what you are doing).
Regards,
Charles LeMaire
Agreed! Syndication provides lots of benefits. Great for an LP that wants to be truly passive. And great for a GP that wants to scale quicker.
Hi all - my husband and I transitioned from investing locally in small multifamily properties to participating in large multifamily and net lease syndications, both passively on the LP side and actively on the GP side. Still seems like a lot of people aren't aware about these opportunities or how they work, so I'd love to share our experience to help others. Please reach out if you have any questions about syndication!!
Agreed! Syndication provides lots of benefits. Great for an LP that wants to be truly passive. And great for a GP that wants to scale quicker.
Absolutely! That's exactly how we got started. We did a BRRRR locally, worked with a nightmare contractor (you know the usual) - all turned out well in the end, but we went way over on time and budget, and weren't really sure how we were going to scale that, especially in NJ with such high prices and taxes (not to mention it's not landlord friendly at all), so we started looking for ways to invest out of state, and that's actually when we learned about syndication. We invested passively multiple times and built a great rapport with a very experienced syndicator who's now our partner on the GP side of things too.
Hi all - my husband and I transitioned from investing locally in small multifamily properties to participating in large multifamily and net lease syndications, both passively on the LP side and actively on the GP side. Still seems like a lot of people aren't aware about these opportunities or how they work, so I'd love to share our experience to help others. Please reach out if you have any questions about syndication!!
Hi Alex! That's too funny...our partner and friend, Kenny Wolfe is based in Dallas. My husband, Danny, has family in the area too. We love visiting. Great questions! See below:
Who to work with: this is really a personal preference - I definitely recommend you do your due diligence and get to know and trust whoever you are investing with. Ask lots of questions (and don't feel bad about asking them)!! Make sure they have a solid track record, that they are good communicators, and that you genuinely get along with them. When we invested passively the first time, the fact that the lead syndicator was so accessible and willing to answer our questions made us feel a lot more comfortable. You should take a look at syndication presentations and watch syndication webinars even if you don't feel ready to invest yet - it'll help you learn and get to know different syndicators' styles and deal structures.
Who you invest with is super important, but another important thing to consider is the type of deal you will be investing in - there are all different kinds multifamily, net lease commercial, development, storage, etc. Some are more cash flow heavy deals, some are more appreciation heavy deals...some you start getting paid returns sooner, and some not for a few years. All questions you should ask too :)
How much does it take to invest: Different syndicators structure their deals differently, so the minimums vary. In my experience, the average minimum is $50K, but I've seen deals with $25K minimums and $100K minimums too.
This is exactly where you should start! Start by asking questions and getting to know people who are involved in syndication - the more you learn about it, the more you'll figure out which deals and sponsors are the best fit for you.
I'm happy to set up a call and chat with you more about this! There's lots more advice I can definitely share with you especially when it comes to which questions you should be asking when evaluating and deal and a syndicator.
@Alex Le Good news is it seems like DFW area is the center of the universe for syndication information. Brad Sumrok has a nice conference coming up in a couple of months in DFW and live or online. Cheap education, I would guess basic ticket is $200 or less for 2-3 days of expert training and networking. There are several meetup groups that also meet live. Kenny Wolfe, Adam Roberts, John Monteiro, and Aaron Katz are just a few of many organizers of some meetup groups around DFW, but there are many many others. You can search on the meetup website. You have podcasts you can listen to as well. Best Ever is a common one and they also have a conference and training once a year. Giant nationwide syndicator. Lifestyles is expensive to join, but has many success stories...many more than most. Never been to one of their meetings, but they seem to have a nice program. They have had a free radio show on Sat/Sun, but not sure it is still around. Good info. Read the Joe Fairless book or the Bigger Pockets book on MF investing to get you started.
As @Christine Bellish mentioned....most syndications require you be an accredited investor and minimum investment is $50,000. There are occasional opportunities for sophisticated investors with $25,000 investment.
@Christine Bellish What GPs do you like? Any you don't like? Any horror or success stories? How long do you think this party lasts? What are the biggest risks you see coming down the line? How does recession affect us?
Hi all - my husband and I transitioned from investing locally in small multifamily properties to participating in large multifamily and net lease syndications, both passively on the LP side and actively on the GP side. Still seems like a lot of people aren't aware about these opportunities or how they work, so I'd love to share our experience to help others. Please reach out if you have any questions about syndication!!
Great topic, I've written a few blogs about it here,
@Christine Bellish What GPs do you like? Any you don't like? Any horror or success stories? How long do you think this party lasts? What are the biggest risks you see coming down the line? How does recession affect us?
Hi Bruce!
What GPs I like: The GPs I personally work with (and invest with) are Kenny Wolfe, who you mentioned, in the DFW area, and Agostino Pintus, based in Cleveland. I love these guys. They are great people, have an amazing track record, and I appreciate the straightforward way they do business. There are a lot of others who I’ve met and I like, but have never invested with so I can’t speak to that.
My husband and I first learned about syndication from them - we met them at a meet up in Manhattan in 2020 right before Covid - it was about buying multifamily properties out of state - we didn’t know it was about syndication, so when we heard about it we were kind of mind blown, but also very skeptical. We had a million questions, but we knew these guys were busy so to get their attention we added value, shared our marketing, advertising and customer service expertise with them (we came from careers in the corporate NYC advertising industry) - proactively evaluated their business and wrote them new strategies. We invested with them passively two times and consulted on their business for free for a year in exchange for mentorship - we asked them a million questions about syndication, dug deep into the legal, spoke to their investors, their attorney, etc and during that time we built great rapport - trust, credibility, respect and friendship, so finally we just asked for the opportunity to partner on the GP side of things, and they gave us a shot.
Who I don’t like: honestly, it’s a pretty generous community and everyone I’ve met has been kind and informative - not saying I would invest with everyone, but that is a personal preference more than a sign that they are a bad person or wouldn’t do a good job. For me personally, I’ve just had a great experience with Kenny and Agostino, so there’s no reason for me to invest somewhere else right now, and they have so many deals. Would definitely be open to partnering with others in the future though if the right opportunity came up.
Any horror or success stories: early on in his syndication journey Kenny got voted in to save two deals from foreclosure. The lead sponsor was voted out, and KW took over on 154 units in Irving, TX (acquired in 2011), and 100 units in Fort Worth, TX (acquired in 2013) - both properties were sold and investors were paid back plus received returns, so that’s a horror and success story all in one.
How long do I think this party lasts?
Honestly, for a long time, but it’ll look different. Syndication isn’t just value-add multifamily, there’s ground up development, office conversion, self storage, net lease, etc so even if the deals are tighter in one type of syndication, I think people will shift and set their sights on another one.
Plus people have different motivations for buying these assets - we’re seeing some 1031 investors buying properties at zero caps - they are just planting their money and don’t care about a return, they just don’t want to pay the taxes.
Plus in general, there are multiple exit strategies, so if it’s not time to sell you don’t have to.
Biggest risks: obviously inflation is a factor - on the one hand, for those who already own properties, it’s a good thing because property values and rents go up but your mortgage doesn’t if you got a fixed rate, but labor, materials, expenses go up too.
Interest rates of course too, and policy changes, but all three of these are always threats - like any investment, there’s no guarantee, you can’t perfectly predict the future, but this is why conservative underwriting is so important!!!! Under promise and over deliver, don’t assume everything’s going to be the best (highest rent, highest occupancy, lowest expenses, etc) because you leave no room for error. Instead use more average rents, occupancies, prices, etc - and if the deal still works you might have something.
Everyone makes the best decision they can based on the information available, and for me personally, I feel the most comfortable investing in commercial real estate because the chances of the property value going to zero is pretty incomprehensible - even if it burned down, with the insurance we have we’d probably make money. Not to mention, in these deals I’m investing alongside like 70 other people, so all the burden isn’t on me - spreading risk in that way is attractive to me.
How does recession affect us?
For existing syndications, rents and property values may not meet projections, so returns may be lower than projected, or the hold period may be longer than projected because we are waiting for a better time to sell, but this is a long term game to begin with, and recessions don’t last forever. Plus, even in recessions of the past there are still people who invest. This might create opportunity for some.
@Christine Bellish, the interesting thing about syndications is there are SO MANY out there. Across property types, risk profiles, legal structure, etc. Then you get into the sphere of influence side, i.e. Bigger Pockets has its pool of active syndicators. You will see them posting here, they host podcasts and have each other on each others podcasts.
The hard part is finding more syndicators that may not be running the conference and podcast circuit, or may not be on Bigger Pockets. This takes some networking and research, but there are a lot out there. If there are specific markets you are interested in, I have found some by jotting down apartment complex names and then googling. If you have an independent financial advisor (as in not associated with a big bank of investment company), they will likely know of some. And then, as you mention, when talking with syndicators, ask them who their competitors are, this may give you a few new groups to look into.
Investing passively in real estate syndications are a great way to build wealth and it can be very passive. The finding and screening of sponsors and analyzing deals is active but once you send the wire, your job becomes collecting distributions and reading reports!
In my experience, the most important factor in the success of a deal is the sponsor. Some on this post have mentioned sponsors they have had positive experiences with - I think that is the best way to find a quality partner, by using your network or Community. There are many sponsors who are great marketers and podcasters - but that doesn't make them great asset managers necessarily. Some of my favorite sponsors don't advertise at all because they have all the investors they need and other sponsors I invest with are great podcasters and marketers, but what they all have in common is they are excellent asset managers and they came to me recommended by people in my Community and network who had already invested with them.
Real estate syndications are long term, illiquid investments that are completely out of your control so it is critical to partner with someone who has experience, integrity and a track record of success. The best way I have found to meet and invest with these partners is to leverage my network and Communities to get introduced to quality operators.
@Christine Bellish, the interesting thing about syndications is there are SO MANY out there. Across property types, risk profiles, legal structure, etc. Then you get into the sphere of influence side, i.e. Bigger Pockets has its pool of active syndicators. You will see them posting here, they host podcasts and have each other on each others podcasts.
The hard part is finding more syndicators that may not be running the conference and podcast circuit, or may not be on Bigger Pockets. This takes some networking and research, but there are a lot out there. If there are specific markets you are interested in, I have found some by jotting down apartment complex names and then googling. If you have an independent financial advisor (as in not associated with a big bank of investment company), they will likely know of some. And then, as you mention, when talking with syndicators, ask them who their competitors are, this may give you a few new groups to look into.
Yes! There are so many syndications out there - so many different types, operators, and structures, in all different markets. It seems like once you start doing research and becoming apart of these networks there are endless opportunities, which I think is great because it gives people options - not every sponsor is right for every investor, not every deal is either.
The tactics you mentioned for finding syndicators who are not very public-facing figures are interesting - have you actually found anyone that you invested with that way? 1) have you invested with someone that an independent financial advisor recommended? 2) have you invested with someone that you found by Googling apartment complexes? - just genuinely curious!
Also would love to hear about what GPs you have invested with passively, the markets, and the types of deals (multifamily, storage, net lease, development, etc) - using @Jim Pfeifer's advice and getting some recommendations for good operators for anyone following this thread :)
Investing passively in real estate syndications are a great way to build wealth and it can be very passive. The finding and screening of sponsors and analyzing deals is active but once you send the wire, your job becomes collecting distributions and reading reports!
In my experience, the most important factor in the success of a deal is the sponsor. Some on this post have mentioned sponsors they have had positive experiences with - I think that is the best way to find a quality partner, by using your network or Community. There are many sponsors who are great marketers and podcasters - but that doesn't make them great asset managers necessarily. Some of my favorite sponsors don't advertise at all because they have all the investors they need and other sponsors I invest with are great podcasters and marketers, but what they all have in common is they are excellent asset managers and they came to me recommended by people in my Community and network who had already invested with them.
Real estate syndications are long term, illiquid investments that are completely out of your control so it is critical to partner with someone who has experience, integrity and a track record of success. The best way I have found to meet and invest with these partners is to leverage my network and Communities to get introduced to quality operators.
Jim you are absolutely correct. Just because they are a great marketer, or public speaker doesn't mean they are going to successfully run a deal. I'd rather a sponsor was a great asset manager, than a great marketer, for sure!
Taking your advice here, would love to hear what operators you have invested passively with that you'd recommend, what types of deals you invested in with them, and where.
When you say advertising, I think it's important to distinguish between advertising a deal or advertising the sponsor themselves - for those who are new to syndication, they may not know that there's a big difference. Syndication deals are 506b or 506c - 506b deals allow accredited and non-accredited investors to participate and the deals cannot be marketed/advertised at all - only people who have personal relationships with the sponsor can participate, so if you see a deal being advertised it's probably only open to accredited individuals (or they are doing something illegal).
Accredited means: you have a net worth of $1M minus your primary residence, or you are single and earn $200K, or you are married and earn $300K - there are also ways for businesses and entities to qualify, which you can read more about here: https://www.sec.gov/capitalrai...
For 506c deals, they are only open to accredited investors and advertising/marketing is allowed. I have personally only participated in 506b deals, even though my husband and I are accredited, so we have never participated in a deal that has been publicly advertised.
As far as sponsors marketing themselves and their businesses, we're talking about going on podcasts, attending meetups, speaking at conferences, being active on social media, posting on BP, etc.
Back to the main point, though - I love the advice here Jim - and 100% agree. Investing with someone who has integrity that you trust is the most important of all, and a great way to meet those people is through a recommendation from someone you already know and trust.
@Christine Bellish, I only have a handful of syndication investments at the moment.
Yes to non-public facing, or at least that I have seen.
No, to the financial advisor piece, but I have worked for companies in the past, and am in deals now that a significant amount of capital comes through the financial advisor network. I also have many financial advisor friends that have told me how they will receive 3-5 decks per day from deal sponsors trying to get to the FA's clients. I do not have a financial advisor, personally.
Not yet, but have found some groups that are promising, but at the moment offerings and capital available have not aligned, or their minimums are too rich for my blood. (You mention some having $100k minimums, but somehow seem to always find those that have $250k minimums)
@Christine Bellish Great Post. The benefits of investing in multifamily syndication deals are unlimited. But some of the reasons we like investing in it is because of cash flow, leveraging and the cost segregation benefits associated with it. What were some things that helped you transition from small multifamily into larger multifamily deals successfully. How long did it take you to get into your first deal?
Great book on this subject: The Hands off Investor - An Insiders Guide to Investing in Passive Real Estate Syndications by Brian Burke / CEO of Praxis Capital
An awesome tutorial: Investing in Syndications, evaluating sponsors, evaluating real estate, evaluating offers and structures, the investing process. I picked it up here in the bookstore.
@Christine Bellish Great Post. The benefits of investing in multifamily syndication deals are unlimited. But some of the reasons we like investing in it is because of cash flow, leveraging and the cost segregation benefits associated with it. What were some things that helped you transition from small multifamily into larger multifamily deals successfully. How long did it take you to get into your first deal?
Hi Nathan!! Thanks for the feedback. You make great points! Yes, one of the biggest attractions to this type of investment is the fact that you get accelerated depreciation thanks to cost segregation and bonus depreciation.
For those who aren't familiar, typical depreciation is spread over 27.5 years, but by doing a cost segregation analysis, you can depreciate certain items quicker (5, 10, 15 years), which means bigger write-offs sooner - that, plus bonus depreciation, which allows even more write offs in year 1. On smaller rental properties, most people don't do a cost seg because it's expensive, but on larger properties it makes sense.
Limited partners (passive investors) are usually equity partners in these syndication deals and they get a proportionate amount of these write offs from depreciation based on how much they invest, which means even if they are earning a return, they may show a paper loss. You can only use the write-offs against passive income unless you are a real estate professional or married to one and file jointly...which is why many successful realtors use syndication as a tax shield. You can be a real estate professional without being a realtor, but not getting into that here :) For non real estate professionals who are writing off against passive income, they can use the write offs against income from other syndication investments or against income they collect on rental properties they may personally own.
Real life example: my husband is still a W2 employee and a high income earner, but I am a real estate professional - we file jointly and are able to use our syndication write-offs against his income. It's pretty great!
What were some things that helped you transition from small multifamily into larger multifamily deals successfully. How long did it take you to get into your first deal?
Short answer: We met the right people at the right time and provided them with a lot of value. After learning about syndication, it took us 8 months to passively invest for the first time, and about a year and a half to get into our first big deal on the GP side of things.
Long answer: We read so many books and articles, watched videos, listened to podcasts, went to meetups and everyone was talking about buying a bunch of small multifamily properties and then eventually leveling up to larger multifamily deals, so we wanted to model their success and invest in more small multifamily properties locally in NJ, but couldn't find enough deals and the entry point here is so high - taxes are super high, and it's not a landlord friendly state, so we went to a meetup about buying multifamily properties out of state, which we thought was going to be about buying small multifamily properties in more affordable, landlord friendly states, but it actually ended up being about syndication, which we had never heard of before. The keynote speakers at this meetup are the guys we ended up investing passively with and partnering with as GPs.
They explained how syndication works, gave some examples of the types of deals they had worked on and the types of returns they were getting for their passive investors, and it seemed too good to be true honestly (my husband and I are cynical NY and NJ people), so we had lots of questions, but if what they were saying was true we wanted to know more because the returns they were talking about were better than the returns we could get doing something on our own in NJ...and it was completely passive.
To put things in perspective, we just spent 9 months on a nightmare gut renovation project of a 100 year old two family home, that we had to put down 25% on and we paid for all of the downpayment, closing costs, holding costs and construction costs out of our pocket - everything ended up working out great on the project - we BRRRRed it and still have it today, cash flowing at 12%, but it took so much time, effort, energy and money for us to do it - we killed ourselves on this project and basically put our life's savings on the line, so thinking about trusting a professional to do all the work for us and we could make a similar return without the stress and sleepless nights, sounded really appealing to us. And listen, we're not saying $50K isn't a lot to invest (most common syndication minimum we've seen), but we were into that two family gut renovation project I mentioned for over $200K at one point before we did the cash out refi, so to invest $50K with professionals with a proven track record wasn't crazy to us.
After the meetup we kept in touch with them and got on their email list - we started evaluating their deals, and set up calls to ask them questions. We also got to know them and their businesses, and proactively offered our expertise to help improve their operations - my husband and I both come from corporate careers in the NYC advertising industry, so marketing, advertising and customer service are our specialties - we studied their business and put together a new marketing strategy and investor relations guidelines/procedures, which we presented to them (we helped them implement the marketing strategy and hire a full time investor relations manager too). We ended up investing passively with them two times, and consulted on their business for free for a year before we asked to partner with them on the GP side of things. By that time we had built great rapport, trust, credibility, and a true friendship - we had demonstrated that we are hardworking professionals and had something to bring to the table, so when we asked for our opportunity they didn't hesitate to say yes. We put our money where our mouth was by investing passively with them, but we also invested our time in their business and in getting to know them - they are busy individuals and didn't need us, we needed them, so we had to find a way to get their attention, and that's how we did it.
This is still very much a relationship business, which is what we love about it. If you lead with value and put yourself out there to make connections, that's the best way to get involved. People like working with people that they like, so get out there and make friends.
Personally for us, investing passively was a great way to learn - you get to see firsthand how the GPs operate, access to the reports, legal docs, how they communicate with investors, etc.
What syndicators have you invested passively with? Have you GPed on any projects?
Our goal is to eventually be fully passive, but we want to generate enough income so that my husband can leave his W2 too, so that's why we are involved on the GP side of things for now also.
How does one get involved in a syndication, especially if you have 0 experience?
I've read several Bigger Pockets books and listened to a handful of podcasts, but haven't started investing yet. I'm attending more and more local events to continue to learn and meet people.
How would you go about offering value and proving your worth?
Hey @Steven Le! Great question. Well, one way to get started is by investing passively in a syndication first- it's a great way to learn. I wrote more about how my husband and I personally got involved in syndication earlier in this thread in my reply to Bruce - how we met our partners, how we built a relationship with them, invested passively with them, provided them with value and eventually ended up partnering on the GP side too. Check it out!
Also happy to hop on a call to chat with you more about it! Message me and we can coordinate a time.
I think more and more people are leaning towards syndication as it's a passive route. And, with a good GP you can make better returns vs owning a couple SF or MF properties (and you get to avoid owners responsibilities/maintenance).
I'm a believer of diversification, so being invested in real property AND syndications/funds.
@Christine Bellish would love to connect more about what you're working on now and your efforts at The Bellish Team.
I started in 2010 and am a serial serial passive investor in MF syndications, just invested in #61, 26 have gone full cycle. I was the other fellow with Kenny in the cabal to replace the sponsor mentioned above. Both Kenny and I were trained by Brad Sumrok and I have invested with Kenny in 10 of his deals. And yes MF has been very, very good to me!
@Steven Le and @Alex Le, DFW is a hot bed of meet-ups; go, meet folks doing this, ask & learn; most folks are helpful. The Hand-Off Investor is a good book for passive investors. Also consider Paul Moore's The Prefect Investment which is a quick read and a great primer.
This asset class has been very profitable, but I offer a couple comments.
#1. One can use a SD IRA or a Solo 401K, but learn how they work! Do the math! All IRA gains are subject to UDFI; Solo 401Ks are not. All trad (non-Roth) retirements will add to your bucket that will come to you as ordinary income and forcible so when your RMDs start. If you are of the rich mindset, you will be paying taxes at a higher rate, RE pros possibly excepted. Also, neither IRAs or 401Ks enjoy the "step-up-in basis".
#2. For the first time non-RE Pro investor today, you will not likely see any, perhaps minimal, benefit to all the hoop-la about Bonus Depreciation. Yes, you will carry it forward to the sale of the property, but on your first deal, that works out to being about the same as not having it. The benefit would be when you sell and buy the Bonus Depreciation on the purchase then will off-set your gain. But by that time BD will likely be gone. Sorry!
#3. An investment in a syndication is not open to a 1031 exchange. Technically. it can be done, but practically not likely. I've seen only one.
With that said, I do not want to sound sour on this asset class, I've made big gains, I just want you to understand so that you are not over sold.
Be sophisticated (learn how it works and know what you are doing).
Regards,
Charles LeMaire
When it comes to syndications, the biggest risk is always the group in charge of executing the business plan: operator/sponsor/syndicator/GP etc.
The smartest investors focus their efforts on underwriting the GPs than the deals themselves because a great operator can turn around a bad deal and a bad operator can wreck a good deal pretty quickly.
Hi all - my husband and I transitioned from investing locally in small multifamily properties to participating in large multifamily and net lease syndications, both passively on the LP side and actively on the GP side. Still seems like a lot of people aren't aware about these opportunities or how they work, so I'd love to share our experience to help others. Please reach out if you have any questions about syndication!!
Find people that you can trust. There are a lot of syndicators on BP and on Podcasts. Reach out and build relationships. You will want to work with companies with a track record that you can trust.
As for minimums. Typically you will find them to be between $50-100k
Hi @Christine Bellish. I’m glad to hear about your experience with Kenny Wolfe. I would love to hear about some of the positives and of course any of the negatives you’ve experienced investing with Wolfe. Would you be willing to PM me and let me know?
My firm has a fund that invests and lots of different experienced operators and Kenny is on our list for do diligence right now. They seem like a fantastic operator.
Hi Christine, I'm really interested in being a GP in a multi family deal. I have long and short term investments.
Hi @Christine Bellish. I’m glad to hear about your experience with Kenny Wolfe. I would love to hear about some of the positives and of course any of the negatives you’ve experienced investing with Wolfe. Would you be willing to PM me and let me know?
My firm has a fund that invests and lots of different experienced operators and Kenny is on our list for do diligence right now. They seem like a fantastic operator.
Absolutely Paul! I'll PM you to set up some time to chat 1x1. I was just in Cleveland with Kenny a few weeks ago :)