Looking to Change Careers Into Real Estate Syndication

[Eric Grunfeld]

Hello Everybody,

I am currently looking to change career paths. 

How does one enter the world of real estate syndication? What is the best way to go down this path?

I look forward to your thoughts. 

All the best,

Eric

[Evan Polaski]

@Eric Grunfeld, I will reiterate what Paul says.  In fact, you should read a recent article Paul wrote that was just featured in the BP email newsletter.

Today, everyone wants to be a syndicator.  Some even manage to do a deal or two without any prior experience.  But, if you want to raise real money and do real deals, you need to actually have experience first.  Would you hire a tax advisor if they said: "I have listened to some podcasts and read a few books over the last month"?  Or a financial advisor that has only done the same thing?

The shortcut is work for a real estate operator, or buy your own properties and run them for several years, if you are planning on running the deals.  If you are a great marketer and think you can raise capital, that's great, but you will need to partner with an operator, which is where many syndicators sit.  The operations side, generally, is not the marketing side, and the marketing side is normally not running the asset management side.