How would you find a syndication mentor

Question

Hello,

I am a small investor and have been investing into multifamily for a few years now. I really want to get into syndication deals (as syndicators). Is there a way to find a mentor who I can shadow and learn about the deal process? I am willing to offer my services like social media marketing, branding, presentation, organizing events, crunching numbers for free. Thanks!

Evan Polaski · Answer

@Hitesh Gupta, while Todd noted several, and there are several more out there.

From your post, I am not sure you need a mentor in the same sense that many syndicators offer mentorship, versus a more traditional mentor.  And given that many syndicators that offer paid mentorship cost in the 10s of thousands, I would just be very clear with each group you talk to on what you are needing versus what they actually offer.

From the bits I have seen about a lot of people's mentorships (to be clear I have not gone through any), they cover market selection, basic underwriting, some marketing, basic legal compliance items.

Things I would ask them:

What is your involvement in your own deals, day in and day out?  A lot of syndicators are really marketers first.  Some have very little involvement in the actual operations of the properties, so if you are seeking asset management help, I would be sure to ask what the mentor's level of expertise is in that area.

Who would I actually be working with?  Again, some of these more "professional mentors" are the face and when you are in their program, they have their "team" interface with you day in and day out.

Are you put in a course and Facebook group or is there real one-on-one attention?  How much time are you allocated with the your mentor?

For the syndicators that also offer mentorship, who on the syndication side handles the items you need help with?  Again, is the mentor actually sourcing and underwriting deals or does their company have an acquisitions team?  If they have a team, what is the mentor's involvement?

Depending on your personal needs from a mentor, you may also want to just start talking with Brokers, Property managers and attorneys in your area.  You may need to pay a broker to help consult with you through the deal process, but they commonly know lenders that will finance their type of deals, they clearly know the acquisition process from LOI to contract negotiations.  And conversations with PMs and attorneys can help you understand their roles, as well.  Attorneys can help (once hired) with securities offerings and marketing compliance.  PMs with the asset management and understanding budgets during operations.

Todd Dexheimer · Answer

There are a bunch of mentors/coaches. I'd be happy to discuss what I offer. Jake and Gino offer help, Michael Blank, David Lindahl, etc. I'd suggest reaching out them and making sure they are a good fit.

Gino Barbaro · Answer

@Todd Dexheimer

thanks for the shout out! I think the biggest reason to join a group is not only access to the coaching, hand holding, and everything you're gonna learn, it's access to partnering with others in the group, and to have some type of accountability.

I don't think there should be a group/program that just focuses solely on syndication. The idea is to learn the business as a whole, and learn all the strategies, and to learn when to use the strategies.

I would also be careful joining a group that is going to teach you to syndicate, yet they are raising capital from their students. To me, it's a huge conflict of interest, and we do not raise capital from students, and allow the students to partner and raise amongst themselves.  I want to teach members how to buy and raise capital, not use them to fund my next deal.

Hitesh Gupta · Answer

Thanks @Gino Barbaro I sent you a DM.

Hitesh Gupta · Answer

Thanks Evan. You raised really good points.

How would you find a syndication mentor

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