Rental Property Investor · Greenville, SC · Member since 2008 · 786 posts · 1k+ votes
There are numerous apartment syndication coaches and trainers out there.
Many say they are the latest and greatest. It is difficult to separate fact from fiction.
I would like to hear from BP members who successfully are doing and have done apartment syndication deals, what their experience with coaching and mentoring was like.
Please share your experiences with me so I can select the best coach for me.
This may be a discussion best done privately and outside the forum.
I actually just hired a syndication coach last year and I have had success with him already. If I can answer any questions, please let me know. I researched coaches for about 6 months and it kept going back to one guy. It's not easy work to find and fund deals but if you put in the work, you can be successful.
My metrics for finding my coach was:
1. Small number of students so I can always talk to the coach at any moment.
2. Highly Analytical people
3. I also look at the achievements of the other students. Are they also very high achievers in their life?
Just a bit of background, both my wife and I are veterans(she was Air Force and I'm Army). I currently work at the Centers for Disease Control (CDC) in Atlanta and I am very analytical by nature. Let me know if you would like to chat and hope I can help!
Rental Property Investor · SE Michigan · Member since 2014 · 4k+ posts · 6k+ votes
6y
I prefer "tried and true" over "latest and greatest" any day. I would want a mentor that has negotiated several business cycles and dealt with all kinds of issues successfully.
I am blessed to have become a member of Lifestyles Unlimited. They have been around 30 years and have 50,000 members. I joined for their single family education and their training turbo-charged our single family profits. Multifamily was never really on my radar screen. But, after 2 years of attending multifamily classes and talking with other members successful in apartment investing, we crossed over to multifamily and never looked back.
Lifestyles literally has a curriculum of classes for multifamily investors developed from its collective experiences. Its members must own hundreds of thousands of doors.
I'm currently invested in nearly 2000 doors and am the deal sponsor / syndicator of 2 apartments including a 272 unit that has 6 full time staff.
I actually just hired a syndication coach last year and I have had success with him already. If I can answer any questions, please let me know. I researched coaches for about 6 months and it kept going back to one guy. It's not easy work to find and fund deals but if you put in the work, you can be successful.
My metrics for finding my coach was:
1. Small number of students so I can always talk to the coach at any moment.
2. Highly Analytical people
3. I also look at the achievements of the other students. Are they also very high achievers in their life?
Just a bit of background, both my wife and I are veterans(she was Air Force and I'm Army). I currently work at the Centers for Disease Control (CDC) in Atlanta and I am very analytical by nature. Let me know if you would like to chat and hope I can help!
If you're interested, there is a monthly multifamily meetup in Greenville, first Monday evening of the month, good opportunity to speak in further detail about others' experiences too. If you google "meetup.com mfin greenville" it should be the first google search result for more info and details. Its run by Ben Jones and Ivan Jenkins. With covid I believe next couple of months are online-only, and August will be the first in-person meetup. Hope to see you at one of the in-person meetups!
Allow me to throw Brad Sumrok in to the mix: https://bradsumrok.com/ I've found great success with Brad and his network for many years. I am a passive investor currently in 30+ deals. Brad has helped hundreds become sponsors and more become passives. Over 75 have used him and his network to made $1M on MF RE. The network has done about 60 deals the past two years.
Some of the above is always confusing. Deals are created by Brad's student becomeing sponsors, who invite folks to invest in those deals. It is not Brad creating the deals and all the network. Most every deal is 100+, some 300+, units.
Real Estate Broker · Greer, SC · Member since 2013 · 548 posts · 271 votes
6y
I do it. Done about 7 times. A great way to learn and find deals and investors is to attend a marketing session. We have one coming up on Thurday. If you are intrested, contcat me.
Real Estate Coach · Oakland, CA · Member since 2017 · 59 posts · 91 votes
6y
@Arn Cenedella This is such a great question, and I'm glad you're looking into getting a coach or mentor so that you can hit the ground running and don't have to reinvent the wheel.
Personally, I've been part of multiple training groups and mentoring programs and have found value from each of them. I'd be happy to further discuss my thoughts and feedback on each of them; just message me.
I think it comes down to your personal goals, business goals, strengths and weaknesses, and what specifically you're looking for out of a coach or program.
For example, if you are fairly comfortable with numbers and know that you want to focus on acquisitions and underwriting, you might look for a mentor that can help you further hone those skills. That way, you can bring that skill to the table when looking for potential partners.
Alternatively, if you're strong in underwriting but want to be able to take down a deal on your own, you might look for a program that will help you with the areas where you're lacking, like raising capital. That way, you can continue to learn things on your own that come naturally to you (like underwriting, in this example), while having someone guide you through the areas where you have less experience.
Investor · Round Rock, TX · Member since 2010 · 8k+ posts · 4k+ votes
6y
Most of the "coaching" programs are glorified funnels to help attract "co-sponsors" who are positioned to help raise capital without a license and arguably violate the securities laws. The best way to learn is to find a local sponsor who you can provide some type of value to and learn by doing. Joel Block's syndication symposium is great background material in learning the capital raising process and really has a pretty good cast when he hosts the events.
If you're a broker learning to think like a sponsor is a mind-shift as is developing a track record and recognizing you're in the business of marketing yourself and your deal's securities and not property. This becomes easier as you develop a track record and you can do that easier as a co-sponsor operating as an apprentice.
Rental Property Investor · St. Paul, MN · Member since 2016 · 3k+ posts · 3k+ votes
6y
You really have to look at what your needs and wants.
1. Do you want to be in a large program and get the bells and whistles of that or in the small program and get the 1 on 1 with the main guy/gal? There are a lot of programs that have the main person out as the face. That person hires coaches to be the mentors and do the 1 on 1 calls. The mentors are trained, but may or may not have experience depending on the program. You typically have little to no interaction with the face of the program.
2. Do you need help in specific areas or all areas?
3. What size properties are you looking to buy?
4. Are you looking for 1 on 1 or group?
Also, match up on personality with the coach. I find that having clients with similar values is very helpful. Some people like to sell the flash and sizzle, others focus more on how you can create a legacy and give back. Which one speaks to you?
There are numerous apartment syndication coaches and trainers out there.
Many say they are the latest and greatest. It is difficult to separate fact from fiction.
I would like to hear from BP members who successfully are doing and have done apartment syndication deals, what their experience with coaching and mentoring was like.
Please share your experiences with me so I can select the best coach for me.
This may be a discussion best done privately and outside the forum.
Thank you,
Arn
Arn, I’m looking for a syndication coach as well. Do you mind if I PM you directly to see where you are in your journey? Thanks, Jeff Verreault
Rental Property Investor · Greenville, SC · Member since 2008 · 786 posts · 1k+ votes
5y
@Jeff Verreault
Sure, happy to discuss various programs with you.
I am been very happy with the one I choose months ago but am now looking for another to expand my knowledge and business in different aspects of the syndication business.
Rental Property Investor · Honolulu, HI · Member since 2019 · 23 posts · 18 votes
5y
@Justin Goodin this post is a few months old but the topic always comes back around! Do you mind if I DM you about a few programs. Looking at several now but would really appreciate some insight.
Investor · Durham, NC · Member since 2020 · 1k+ posts · 691 votes
5y
Hey Arn!
I am in the Think Multifamily group with Mark and Tamiel Kenney. Let me know if you have any questions or concerns regarding the group- I have had a great experience so far!