Can you learn syndication without a mentor?

Question

Is there any good content out there for learning syndication without going through a mentor program?

Greg Dickerson · Answer

@Austin Works yes one of the best resources is @Joe Fairless and @Theo Hicks book, podcast and other resources. You can also find tons of resources on youtube as well as other podcasts.

Next best way would be to invest passively with a company like Joe's and learn from the process.

It would be best to do your first deal with an experienced investor/syndicator or hire a coach or mentor once you're ready to take the leap and do your own deals.

Spencer Hilligoss · Answer

@Austin Works - the smart folks on here have already nailed it - @Greg Dickerson @Alina Trigub @John Fortes @Kim Lisa Taylor @Chris Tracy.

I'll share my personal experience on this topic. When I was getting started, I used both strategies in combination:

• Strategy #1: Invest as an LP in an experienced operator's multifamily syndication
• Strategy #2: Partner with mentors/coaches. I used multiple coaching programs and still subscribe to a couple actively, on-going.

I found this approach to be highly effective. Even though you aren't looking for a mentor program, i'll still recommend that you consider it. I captured some of my learnings from mentee perspective in this Forbes article. Hope you find value in it: Trust Your Guru: Three Ways To Vet Real Estate Investing Coaches

Chris Tracy · Answer

@Austin Works- I would not even think about accepting a single investor dollar unless you had a solid sounding board (coach, mentor, guru, whatever).  If you've never successfully done a syndication, you will ultimately be placing your investors at a significant level of risk.  Me and @Ben Leybovich were just talking about this recently (you have to know how "the movie" will play out).  Doing what @Greg Dickerson suggested and seeing "how the sausage is made" as a passive investor is a wise move as well.  Plus you will probably struggle to get commitments from investors anyway, once they discover that you have no track record, so you may need that mentor to lean on as a sponsor or key principal.  Sorry, wasn't trying to suck the life out of the room... just trying to be helpful.  lol

John Fortes · Answer

Thank you for nailing it @Alina Trigub. @Austin Works at the end of the day, you want someone you are comfortable with after you due that sourcing. Who knows, you might enjoy passive investing more than becoming a syndicator as it might free to you to do something you truly love to do on a daily basis. Knowing you have that capital to work and putting it to work consistently will free up your most valuable commodity, that my friend, is time.

Ryan Enk · Answer

@Austin Works, full disclosure.  I'm a mentor.  But the answer is yes, you can learn syndication without one.  You can learn anything without a mentor.  The reason you get a mentor is to avoid costly mistakes, and to pay for speed, support and accountability.  Additionally, some mentorship programs have partnership opportunities and plug you into an investing network or a rolodex of team players that you can use to execute your deals.  So, you really just need to evaluate the reasons for going with a mentor verse not going with a mentor, but you absolutely can do it without one.  Mentorship should be the same as any real estate investment- Whats the ROI?

Kim Lisa Taylor · Answer

@Austin Works, You can learn real estate syndication without a mentor, but you can easily make $100,000 mistakes if you don’t have one. A good mentor can keep you from making rookie mistakes that could cost you time, money, and your reputation. When you are dealing with other people’s money, you should get the best guidance that you can afford.

Travis Gibson · Answer

@Austin Works I have been going through the Syndication school information provided by @Joe Fairless.   It is pretty extensive and it is free which is crazy with the amount of content it provides.

I went ahead and bought his book “The Best Every Apartment Syndication Book” and it is ACTUALLY what the title says.  I highly recommend it. I really like how it breaks out each step in the sequence of becoming an Apartment Syndicator.

Although I still feel like a mentor would be helpful for some of the specific details of doing things like underwriting and due diligence.  I feel like 85% of the information required is out there if you look for it.

Austin Works · Answer

@Chris Tracy I completely agree with this, I know there are two sides to this equation. I am just not sure that the value is there for me to spend $10,000 for a remote mentor to send me video clips and articles. I've been very successful at learning (so far) from books, podcasts and networking with other investors. I know many pursue the mentor route as a way to try and skip putting in the hard work to learn a skill. I personally enjoy learning and spend a great deal of time educating myself. I was just curious if it was possible to self educate on this matter enough to find a deal, and maybe syndicate it under an established sponsor? Or maybe something similar? I know books can only take you so far.

Tj Hines · Answer

@Austin Works yes these seminars can be informational. Ive been to a few of @Rod Khleifs events. There was no pitching or selling. Now granted there are some seminars that are pitched filled. @Michael Blank and @Joe Fairless have great boot camps and courses. With that being said the biggest take away with these events is the networking and relationships formed. That you can’t put a price on.

Can you learn syndication without a mentor?

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