Best Syndication Education Books/Resources

7 Replies

Hey guys, 

I'm looking to adequately educate myself on syndicating deals. I've been reading several websites and blogs but I'd like more depth. What are the best books/resources you would recommend for getting educated on real estate syndications? Thanks in advance! 

Micheal Blank has a website where he sells the syndicated deal analyzer and videos do go along with it. Now that I’m actually doing this I’m realizing that his underwriting spreadsheet is limited. Can anyone recommend a deal analyzer with a more robust underwriting of the waterfall/promote? I’m looking to do a preferred return and then really dial in the waterfall after that. Micheal Blanks analyzer is great for learning but limited once you really get into it.

Originally posted by @Lee Ripma :

Micheal Blank has a website where he sells the syndicated deal analyzer and videos do go along with it. Now that I’m actually doing this I’m realizing that his underwriting spreadsheet is limited. Can anyone recommend a deal analyzer with a more robust underwriting of the waterfall/promote? I’m looking to do a preferred return and then really dial in the waterfall after that. Micheal Blanks analyzer is great for learning but limited once you really get into it.

Is there actually a market for this?  I guess I've always taken my excel skills for granted.  Coming from a finance background, I had to get really good at excel.  


Do people pay for others' spreadsheet calculators?

Yes, people 100% pay for these spreadsheets. I can actually use excel fairly well, so I can probably do this myself. I like spreadsheets made by others for a “standard” layout. But you’re right-I can probably just modify micheal blanks spreadsheet to be more robust and dial in the waterfall myself. Google syndicated deal analyzer and you’ll see what’s for sale.

@Lee Ripma You will encounter similar issues with most "analyzers" you buy online. Simply put, most folks selling their Excel spreadsheets don't have a finance background. 

We're developing a software - Deal Analytica - that tackles this aspect of the game especially waterfalls but it's more for syndicators. 

What specific issues do you have with waterfalls? 

Happy to answer any questions. 

I just want a way to setup the waterfall quickly and easily within a returns spreadsheet. I'm very interested to see your software when it rolls out.