Independent Multifamily Syndicators

20 Replies

Hi BP Community, 

Curious to learn more about the multifamily syndication space.

Does anyone have recommendations for finding multifamily syndicators? (not for investing purposes, just for curiosity) 

I am aware of the main syndicators: Sewell, Khleif, Bawa - but are there any lesser known syndicators that don't necessarily have large mentor groups or are just starting out?

Thanks!

Max

Are you looking to learn from how others have started their syndications? There are plenty of small-medium syndicators who manage 1-4 properties. Feel free to ask any questions and we'll be happy to help. 

There are quite a few out there, some of the best and most experienced aren't even on BP although some certainly are. I work with a number of syndicatiors and would be happy to answer any questions. I'm open to answering here or DM for more specific details. 

@Spencer Gray   What's the best way to find syndicator and get a hold of some PPM to do some research/analysis before actually investing in one.  One of my goals for 2020 is to be a LP in syndication so I want to make sure I do all my hw now. 

Originally posted by @Sal A. :

Hey @Maximilian Wnuk

Thank you for posting this. I am in a similar situation in which I would like to find syndicators to potentially partner with. Am hoping to get comfortable analyzing deals and doing due diligence.

 Check out Frank Gallinelli's book on cash flow, and Brian Hennessey's books on commercial real estate due diligence. Decades worth of compiled knowledge for... $30(ish) on Amazon. Absolute bargain

I second Hennessy's Due Diligence Handbook For Commercial Real Estate. Great insights and easy to follow. It makes sense that people want to get connected with syndicators and jump in as LPs, but you'll want to sound educated when you do. Even knowing the basic terms of syndication is helpful -- Joe Fearless and Theo Hicks do a great job of listing the terms in the back of their Best Ever Apartment Syndication book. 

Suggestion: Start listening to Old Capital pod casts.  Each year, mid summer I believe, they have a convention at which there will be at least 100 independent syndicators. 

There are several other events that are available, but most are affiliated with a particular mentor or group.  The above, to the best of my knowledge is "non-denominational".

I would also suggest getting on Meetup.com, select real estate and multifamily. This works well in some areas (DFW is blanketed with MF meetups), but perhaps not so well in others. You will still be inundated with BRRR and Flip meetups, but look for the multifamily. Realize that most of these are affiliated with a particular mentor or syndicator.

Regards,

Charles LeMaire

There is an overabundance of newer syndicators (perhaps COVID might be shaking a few of them out) 

Some of the experienced operators use an educational platform to attract an army of students, others focus strictly on the operations. Sounds like you're on the right path of underwriting their team and track record

all the best!

Check out www.leftfieldinvestors.com.  Their goal is exactly that.  Sharing experiences between passive investors and providing insight into different operators. 

@Maximilian Wnuk I would recommend Jens Nielsen of Open Doors Capital. He is not as well known as some of the larger operators.  He does have a smaller mentor group right now but it is getting bigger by the day.   He also hosts a monthly mastermind which is really awesome for networking.  I would encourage you to reach out to him if you are interested.  He is on Bigger Pockets.  I also host a Multifamily meetup in my local area if you are interested,.

Hi Max, I know a number of syndicators and would be happy to connect and share any resources and knowledge that might be helpful. Feel free to message me directly to connect.

Adam

@Maximilian Wnuk @Sovat C. Once you find some syndicators make sure you confirm your investment goals will be achieved because groups can have different investment strategies. Also, @Dan Handford wrote a great article for red flags to look for before passively investing. Maybe he can share it or message him directly.

Look on the forums, there are a ton out there. Some big, some medium, some small. If you are looking for the "main" syndicators or bigger ones, then dig into the larger multifamily companies out there that aren't public companies.  

I've invested in 5 (passive) multifamily deals with 4 different sponsors. I found all on you tube just by typing in multifamily syndication in search box. Some videos lead to other sponsors and that's how I found the sponsors that I trust. Hope that helps

Originally posted by @Scott Ratner :

I've invested in 5 (passive) multifamily deals with 4 different sponsors. I found all on you tube just by typing in multifamily syndication in search box. Some videos lead to other sponsors and that's how I found the sponsors that I trust. Hope that helps

 I hope you did due diligence on them beyond that!