How To Get In The Game, Despite Lack Of Cash & Experience
Hi BP friends... I was inspired to write this because I just read a post, where someone wants to get started in the business of syndications and buying apartments... but has no idea how, where or with who to start the journey and is pretty much bootstrapping things. I was in that same boat, not too long ago.
I hope that for anyone who reads this, they are motivated, inspired and find this story helpful.
Who am I and why am I qualified to write stuff on this wonderful forum?
Well, thanks to the help of @Jeff Greenberg, I crossed the finish line with a group of other people like myself and purchased 2 apartment deals this past year. If you check out Episode 1038 on Joe Fairless's podcast, you can hear more details.
But basically in a nutshell, what I did and what most people can do is:
Step 1- Evaluate yourself and figure out what your strengths and passions are
Step 2- Reach out to people who are in a place, where you want to be (eg. experienced syndicator, has a portfolio, etc.)
Step 3- Find out what their biggest needs are (making phone calls? research? underwriting? etc.)
Step 4- Offer to bring your value to the table for them and see if you are a good fit
So are you the type of person that geeks out over numbers and Excel spreadsheets? Then perhaps you can help someone underwrite deals and in turn you get your foot in the door and you get to see how everything works behind the curtain and you learn.
See where I am going with this?
Just because you have no money and no experience, doesn't mean you can't get in the game!
Did this help you? Let me know... I would love to know your thoughts!