What Qualifies As A Syndication Deal?

[Jordan Santiago]

Hey BP Fam,

I was wondering what exactly qualifies as a syndication deal? If 5 already active real estate investors want to come together, pool in money, and purchase an apartment complex does that qualify as a syndication? How does that work?

Or is syndication a bunch of people, with one or a couple sponsors, and many limited liability partners?

Can anyone put some insight in this and explain the specifics of it? Thank you, Happy Investing!