Apartment Syndicating - Deal Sponsor or Passive?
I just came back from the R2R event hosted by Brad Sumrok - The event was great and I got to meet tons of successful people who are doing syndications.
My question is should you invest in a passive deal first or jump straight in to being a deal sponsor?
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@Kevin Ferguson I think both routes are good options, depending on largely on your personal network and willingness to dedicate lots of time to daily action. As several folks have already attested, starting as an LP is a great way to start; I went straight to syndication and was able to recently close on a $7.5 million property in Colorado.
My syndication was a 506(b) offering and I had enough people in my network that both had money, and trusted me with it, to raise a bit over $2.1 million. I spent 9 months learning as much as I could through books, podcasts, and free meetups, then applying that knowledge to find and close a deal.
Both routes are possible, it just takes looking in the mirror and deciding which way you want go!