How to start a syndication

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Nathan M kiefer
Rental Property Investor · south carolina and michigan · Member since 2023 · 348 posts · 226 votes
2y
Quote from @Randall E Collins:

Thank you, Stuart, that is very helpful. And it is likely a strategy I can follow. You see, the property is not actually mine; it belongs to a good friend and his wife. I'm a wholesaler and I've been trying to help him sell for about three years. The price, however, is way too high for me as a wholesaler to even consider as very few investors have that kind of capital. I'll speak with the owner about what you suggested.

Lol the ole bait and switch post. 


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  • Randall E Collins
    OP
    Specialist · Member since 2021 · 266 posts · 113 votes
    2y
    Quote from @Nathan M kiefer:
    Quote from @Chris Seveney:
    Quote from @Sebastian Bennett:

    I believe its the sellers expectations not the amount of money that's the issue. Plenty of investors out there buying $6.5M opportunities. This is just overpriced if you can't find a buyer for this long!


     This guy seems like an AI bot and not a real person


     Very odd post - seems like he's "asking for a friend" so weird 


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  • Randall E Collins
    OP
    Specialist · Member since 2021 · 266 posts · 113 votes
    2y

    Who knows Nathan, not so odd to me. Besides I have no problem making new friends or growing my network. Thanks for your opinion though.

    1Reply
  • Chris SeveneyBusiness Member
    Moderator
    Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
    2y
    Quote from @Randall E Collins:

    Sir no there also. He's a good friend I've known for several years. As a wholesaler, I sold a Tri-plex apartment he and his wife had for sale. That's how I met him. Certainly not an AI-Bot.


     What are you trying to accomplish? If they want to sell it, then if they are truly a friend why not have them get an agent and sell it versus you trying to make a buck off your friend?

    If they are selling it then there is no need for a syndication unless you want to buy it, but raising that type of money today is going to be very challegning.

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  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    2y
    Quote from @Randall E Collins:
    Quote from @Chris Seveney:
    Quote from @Sebastian Bennett:

    I believe its the sellers expectations not the amount of money that's the issue. Plenty of investors out there buying $6.5M opportunities. This is just overpriced if you can't find a buyer for this long!


     This guy seems like an AI bot and not a real person



    That property is not a candidate for a syndication..  wasting your time.. it needs to be listed with a High end RE broker who specializes in those sorts of properties.. Not a wholesaler . If these folks had the wherewithal to acquire this in the first place they should be smart enough to understand they need the appropriate RE Agency to sell it for them.. Google FAY Ranches Montana and see what kind of listings they have and they are in many states and there are other brokers like them. When I retire from my Day gig of doing JV deals and building homes.. I am going to go to work for them get my cowboy boots and my big hat.. 4X4 with a quad in the back and my fly rod to make sure the blue Ribbon trout streams are as advertised..
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  • Randall E Collins
    OP
    Specialist · Member since 2021 · 266 posts · 113 votes
    2y
    Quote from @Chris Seveney:
    Quote from @Randall E Collins:

    Sir no there also. He's a good friend I've known for several years. As a wholesaler, I sold a Tri-plex apartment he and his wife had for sale. That's how I met him. Certainly not an AI-Bot.


     What are you trying to accomplish? If they want to sell it, then if they are truly a friend why not have them get an agent and sell it versus you trying to make a buck off your friend?

    If they are selling it then there is no need for a syndication unless you want to buy it, but raising that type of money today is going to be very challegning.


    0Reply
  • Randall E Collins
    OP
    Specialist · Member since 2021 · 266 posts · 113 votes
    2y

    That's one of the problems. The owner wants to do a for sale by owner without a RE.

    0Reply
  • Randall E Collins
    OP
    Specialist · Member since 2021 · 266 posts · 113 votes
    2y
    Quote from @Jay Hinrichs:
    Quote from @Randall E Collins:
    Quote from @Chris Seveney:
    Quote from @Sebastian Bennett:

    I believe its the sellers expectations not the amount of money that's the issue. Plenty of investors out there buying $6.5M opportunities. This is just overpriced if you can't find a buyer for this long!


     This guy seems like an AI bot and not a real person



    That property is not a candidate for a syndication..  wasting your time.. it needs to be listed with a High end RE broker who specializes in those sorts of properties.. Not a wholesaler . If these folks had the wherewithal to acquire this in the first place they should be smart enough to understand they need the appropriate RE Agency to sell it for them.. Google FAY Ranches Montana and see what kind of listings they have and they are in many states and there are other brokers like them. When I retire from my Day gig of doing JV deals and building homes.. I am going to go to work for them get my cowboy boots and my big hat.. 4X4 with a quad in the back and my fly rod to make sure the blue Ribbon trout streams are as advertised..

    0Reply
  • Randall E Collins
    OP
    Specialist · Member since 2021 · 266 posts · 113 votes
    2y

    Hello Jay, I haven't heard from you in a really long time. I am not even considering helping him sell as a wholesaler. That's way over my head. At the high price he wants for the property, I'd never be able to find a buyer anyway. It's just something I want to help him with as a friend. He would surely compensate me out of his pocket. But that's not my main objective. He wants to for by owner without a RE. And would do owner finance. The syndication gig is my idea. Because it's nearly impossible to find a buyer at the price he's asking. He's willing to lower the price to 5.5m, but that's still too high for my blood.

    There's no fly fishing where I live but there's a fairly large lake for bass or catfish fishing. You'd fit right in with our cowboy hat and boots

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