I keep hearing that aspiring investors should connect with syndicators and figure out how to provide 'value' to them.
I was wondering: where can I go to meet syndicators (are they hanging out at REAI meetings?) or other multi-family investors?And secondly, what would be valuable to a multi-family investor that someone with time (like me) but no experience can provide?
I hope you can help me with some information.
@Fradel Schaechter each syndicator is going to have different needs, some wont want any help from you some might. I think the trick to getting involved in real estate is to start. Go to meetings, look at deals, talk to other investors. Tell people you are newish to real estate but you find it fascinating and you are working on getting your first deal. If you are having a good conversations eventually an opportunity to help someone will present itself. The idea that you should just cold call people who syndicate deals is often thrown out there but its not really practical. Mainly because syndicators who advertise deals are so far above the average investor that they arent going to need your help. They people that do a couple of syndications a year and have small staffs that might need you help arent advertising so there is no easy way to identify them.
In my estimation you really just need to network and keep you options open. Maybe there's a guy who is flipping houses that you can learn from or a buy and hold gal that could use a hand. The point is to not worry about the who and just get out and learn about real estate. When you learn enough you will start to see ways to make money and then its off to the races.
Also you could identify a property from a syndication as a back up, there are bunches of options for Delaware statutory trusts that pay reasonable returns that qualify.
@Jeffrey Holst thanks for your ideas! I will definitely continue my networking...
@Joe Fairless find the deal. Learn the criteria they are looking for. But understand for every 100 people who take time away from these folks one will still be around in six months. And likely without any deal.
@Lane Kawaoka can you please clarify your post? I'm having trouble understanding what you are saying here. Thanks!
@Fradel Schaechter props to you for wanting to add value to apartment syndicators. I wrote an article on this and posted in my BP blog on 6 ways to break into multifamily syndication. Here you go:
1. If you want to plug directly to the multifamily investor network in your market, I would suggest buying a few multifamily brokers a cup of coffee. They should be able to tell you who is syndicating deals in the market and potentially give you insight into what they need to help strengthen their business.
2. Always be learning! As you learn the different facets of the business you will have a better understanding of everything that goes into finding and operating a multifamily deal. Understanding these mechanics will give you a better sense of how you can use your skills to add value to an operator.
@Jeffrey Holst you put it great - just get started! Your note that each syndicator will have different needs is also a crucial realization. With this in mind, speaking directly to syndicators about their specific challenges is probably the best way to find a way to provide value. Like you said as well, if you are having a good conversation, opportunities to help will likely just come up.
@Ryan Cox your coffee with multifamily brokers is an outstanding tip!
Apparently it only takes $3.50 to get face time with well known syndicator @joe fairless, pizza included.
@Joe Fairless - thanks for the link- i'll be reading this tonight... I also checked out the meeting you organize- I love the charging a token amount that both buys the group pizza and weeds out the people who RSVP impulsively but never show up- something I'll keep in mind for a meeting I might try to arrange in the future. Thanks for sharing your valuable time on this site helping out others :)
@Fradel Schaechter deals are more valuable than anything and getting harder and harder to come by. Bring me or anyone else a deal and that’s and there’s a good chance you can get a piece of the action.
@Joe Fairless Just read that article: I think anyone with the same question I had should read it. Don't know how I didn't get to read it until this week (two months after your post about it) but it is a truly empowering read.
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