Warning - SPI Advisory!

Warning - SPI Advisory!

Cary, NC · Member since 2017 · 41 posts · 14 votes

Hi BP Community,

I thought I'd share my experience with a syndication sponsor and hopefully it would help other accredited investors.  

I have partnered with 4 sponsors on 9 syndicated deals as an equity partner and always look forward to connecting with new sponsors.  After I listened to BP podcast show 298 with Michael Becker from SPI Advisory, I reached out via their website and expressed my interest in getting to know them.  They responded and scheduled a 15-minute call with Michael Becker on November 29th at 11:15 AM Eastern Time.  At 10:49 AM on November 29th, SPI called and asked to reschedule my call because of an urgent matter had come up.  The call was rescheduled to December 5th at 3:15 PM Eastern Time.  At 2:06 PM on December 5th, SPI called and asked to reschedule the call again because another urgent matter had come up.  This time, I told them not to bother.

I understand Michael is a busy executive.  However, if they can't respect my time, I won't trust them to take care my hard-earned money.  If you are considering to partner with SPI, considered yourself warned.

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Rental Property Investor · Dallas, TX · Member since 2014 · 1 post · 6 votes
7y

Lue...Listen I apologized at the time.  I had 2 urgent items pop up that had to be addressed right then.  I own 5,000 units and have 700+ unique investors so things happen all the time that I have to deal with.  I go out of my way to meet everyone who invests with me via these calls so its a lot to juggle.   

Sorry, you felt so slighted you had to make a post.  Maybe seek out inexperinced sponsors who are just getting started as they tend to have less urgent things pop up.   

See this reply in the discussion

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  • Rental Property Investor · Dallas, TX · Member since 2016 · 63 posts · 71 votes
    7y

    If that's the worst thing that can be said about Michael Becker and SPI I'd say that's a very good sign. 

     What happened to you is unfortunate but no syndicator including Becker is looking to blow off potential investors. 

  • Rental Property Investor · Dallas, TX · Member since 2014 · 1 post · 6 votes
    7y

    Lue...Listen I apologized at the time.  I had 2 urgent items pop up that had to be addressed right then.  I own 5,000 units and have 700+ unique investors so things happen all the time that I have to deal with.  I go out of my way to meet everyone who invests with me via these calls so its a lot to juggle.   

    Sorry, you felt so slighted you had to make a post.  Maybe seek out inexperinced sponsors who are just getting started as they tend to have less urgent things pop up.   

  • Real Estate Investor · Houston, TX · Member since 2014 · 75 posts · 22 votes
    7y
    @Lue C. I have invested with Michael / SPI Advisory. I found both he & staff to be very professional / approachable. The funny thing is when he contacted me I was the ONE that missed his calls. Michael was still receptive & answered all my questions. We all get busy & things happen so next time I would just reach out to @Michael Becker ...
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    7y
    Originally posted by @Michael Becker:

    Lue...Listen I apologized at the time.  I had 2 urgent items pop up that had to be addressed right then.  I own 5,000 units and have 700+ unique investors so things happen all the time that I have to deal with.  I go out of my way to meet everyone who invests with me via these calls so its a lot to juggle.   

    Sorry, you felt so slighted you had to make a post.  Maybe seek out inexperinced sponsors who are just getting started as they tend to have less urgent things pop up.   

    that's impressive.. the fact that you with all you have going on actually speak to new investors personally.. I like that !!!  keep up the good work.  

  • Rental Property Investor · St. Paul, MN · Member since 2016 · 3k+ posts · 3k+ votes
    7y

    I don't personally know @Michael Becker, but this doesn't sound like a warning post was necessary. Even if he purposely blew you off 2 times, it wouldn't be needed. 

    Things come up, schedules become hectic and sometimes rescheduling meeting is necessary. Would you want someone to be only focused on you as a new potential investor or focused on making sure there business is operating properly? 

    I've got my own syndication company, so I doubt I'll be investing with SPI, but I certainly will not pass judgement upon them based on this post. 

  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    7y
    Originally posted by @Todd Dexheimer:

    I don't personally know @Michael Becker, but this doesn't sound like a warning post was necessary. Even if he purposely blew you off 2 times, it wouldn't be needed. 

    Things come up, schedules become hectic and sometimes rescheduling meeting is necessary. Would you want someone to be only focused on you as a new potential investor or focused on making sure there business is operating properly? 

    I've got my own syndication company, so I doubt I'll be investing with SPI, but I certainly will not pass judgement upon them based on this post. 

    well this goes into the cant please everybody all the time category.. most bigger syndicators I know have marketing and customer relations staff that handle these calls not the head of the company.

  • Rental Property Investor · Glen Rock, NJ · Member since 2015 · 3k+ posts · 2k+ votes
    7y

    @Michael Becker 

    I agree with @Jay Hinrichs. Truly impressed you personally handle investors. You should totally delegate it to Investor Relations person.  

  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    7y
    Originally posted by @Alina Trigub:

    @Michael Becker 

    I agree with @Jay Hinrichs. Truly impressed you personally handle investors. You should totally delegate it to Investor Relations person.  

    if its his style nothing wrong with that..  I know I wont work with an investor unless they have taken the time and expense to come to Oregon and meet with me personally.. but my deals are different ..  

  • Rental Property Investor · Glen Rock, NJ · Member since 2015 · 3k+ posts · 2k+ votes
    7y
    Jay,
    As one business grows, doesn't make sense to delegate certain responsibilities (including handling the investors)?! 

    Originally posted by @Jay Hinrichs:
    Originally posted by @Alina Trigub:

    @Michael Becker 

    I agree with @Jay Hinrichs. Truly impressed you personally handle investors. You should totally delegate it to Investor Relations person.  

    if its his style nothing wrong with that..  I know I wont work with an investor unless they have taken the time and expense to come to Oregon and meet with me personally.. but my deals are different ..  

  • Rental Property Investor · St. Paul, MN · Member since 2016 · 3k+ posts · 3k+ votes
    7y

    I disagree with needing to delegate investor relationships. that is a major focal point for growth, so if that is something that the owner of the company enjoys doing and is good at, then they should continue to do it. 

    I don’t know the inner working of many companies that own over 5000 units, but the for the companies with 5000 and less that I do know, the large majority still control investor relationships.

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