Where to start building your syndication team

Question

As I continue to learn about raising money for multifamily deals when building a team and credibility what are some things to look for ie..  attorney, property managers, etc..., also is it a good idea to make your first purchase in your local market or work with an experienced syndicator in a different market.

John Casmon · Answer

Hey @Dennis Johnson, you should probably send a private message to Jeff on working with him. To answer your original question for other readers, I'd agree that the most important role on your team is a more experienced syndicator/mentor. Investors will want to know what your experience is and if you don't have a long track record, the next best thing is working with someone who does.

Not sure I'm clear on your second question about buying in your local market or working with a syndicator in a different market. These would be two different objectives assuming you plan on managing the local market deal vs. being a passive investor for a syndication out of market. If your goal is simply to earn a return on your investment or even to learn more about syndication than working with a more experienced syndicator may be the way to go. However, if you want to be an active investor and be more hands-on buying something you will manage may make more sense. All comes down to your goals.

Andrew Campbell · Answer

What are you skills?  You want to find people with complimentary skills to yours.

What are your goals? Do you want to operate in your local area and be "boots on the ground" and leverage your knowledge, or do you want to focus out of state where you might find better opportunities.

I posted an article recently about the various team members you need to assemble.  Which role do you want to focus on and where do you need to get teammates?

You absolutely need an attorney.  Outside of that, how you put together your team is up to you.

Good luck!

Jeff Greenberg · Answer

I do think that working with an experienced syndicator on a couple of deals provides a great opportunity to learn.

I use one SEC attorney for all states. One RE transaction attorney in the property state. I use different PM's in different areas, but do try to use them on more than one property.

Dennis Johnson · Answer

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Dennis Johnson · Answer

So @Jeff Greenberg how can I work with you

Where to start building your syndication team

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