How would you find a syndication mentor

Question

Hey!

I am a pretty seasoned investor from Canada who wants to get into syndication seriously. From my earlier post, people told me the best way to learn is to find a mentor and do some deals with them. How would you guys go about selecting a mentor? Who would you choose, what would you look for specifically and where would you look?

Thanks in advance, cheers

Greg Dickerson · Answer

@Zackarias Aitchison I would be happy to discuss this with you. I coach some of the top real estate syndicators, investors and developers in business.

Theo Hicks · Answer

Hi Zack,

Are you looking for a paid mentorship program or someone to mentor you for free? The approached are different. Ultimately, someone will only mentor you if you are able to add value to their business. For a paid mentorship, that value is money, so finding a paid mentorship will be easier. A lot of active apartment syndicators on BP also have their one consulting programs. Finding someone to mentor you for free is a little bit more difficult because you will need to find a way to add value to their business besides paying them.

In regard to what to look for in a mentor (paid or unpaid) is that they are actively doing deals, are one of the main GP (not someone who has a minor role in a deal), offer a proven system for you to follow, and offer the connections you need to complete a deal.

John Fortes · Answer

If your looking for a free mentor, that one is something that usually happens naturally. Super rare to find but possible.

If your looking for a paid mentorship, you need to do your homework and go out and look at who fits your criteria. @Theo Hicks & @Hadar Orkibi hit it on the head with their posts. Good luck!

Hadar Orkibi · Answer

@Zackarias Aitchison you need to get yourself educated.

I recommend talking to @Gino Barbaro, He coaches students to invest in Multifamily, rising money through Partnerships and Syndications.  The WBP academy has courses about doing exactly thats.

I also know that the Real Estate Guys have a course only about Syndications, but in my opinion you get wider set of skills in the Jake and Gino academy. I believe you can also invest passively in their deals and learn as you go....

Trevor Ewen · Answer

@Zackarias Aitchison

I definitely recommend finding someone who is actively providing deals right now. There is a n obvious issue with this approach: These are the busiest people you can imagine.

I would not trust a syndicator with a ton of time on their hands. Retirees may be the exception.

They are only going to give you the time if you have something to offer in return? Deals, investors, operational expertise? Start by asking: what I can do to help you?

Matthew Baltzell · Answer

@Zackarias Aitchison as @Theo Hicks mentioned you will want to add value to a syndicator wether that's money, etc.

Let's assume you want to go the FREE route.

As mentioned before, you'll want to target a syndicator who's actively doing deals and then add value.

Value Add Ideas:

1. Social Media- a lot of syndicators are lacking in this area. Like prior posts and leave engaging comments on all posts. Syndicators will take a notice to people who are constantly commenting on their post's. This includes blog posts on websites as well. In fact this could be a better approach because the comments are less and yours will stand out.

Over time, reach out and then offer your services for free to the syndicator

2. Underwriting- Speak with a syndicator and ask them what their investment criteria is. Then when you come across a deal that fits, underwrite the deal and present it to them.

3. Capital- Every syndicator is always on the hunt for capital. If you're able to bring some to the deal, you will definitely stand out.

4. Podcasts- Help book the syndicator on other real estate, entrepreneur, and business podcasts.

The point of this is to always be adding value. Then after you've added value and have developed a relationship, it might be appropriate to ask about a mentorship.

Just remember, value, value, value. Make it more about them and less about you and you should be golden.

I have some more ideas as well. Let me know if you're interested.

Luke Miller · Answer

@Zackarias Aitchison who did you end up choosing as a mentor? If you haven't made a decision, I can give my $.02

Theo Hicks · Answer

Depends if you want a paid mentorship or a free mentorship.

If you want to paid mentorship, interview a few coaches. My advice would be to select a coach who is (1) currently active, (2) has a track record, and (3) has a do it yourself system.

Finding a free mentorship is more complicated. Essentially, you'll need to find a way to add value to a syndicators business so that it is worth taking you on as a mentee or employee. To add value, you'll need to get creative. For example, I offered to help a syndicator grow his brand for free and our relationship has grown from there.

Eleena de Lisser · Answer

@Zackarias Aitchison FYI -- Webinar on 6/18/19: "Common Mistakes Made by First-Time Syndicators" by Gene Trowbridge and Jonathan Nieh

How would you find a syndication mentor

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