Syndication: please share your experience becoming a syndicator

[Aurelien Bonin]

Hi all,

I own a few properties myself and recently started doing partnerships with other investors. 

I would like to hear people's experience with becoming syndicators.

Many thanks in advance!

[Bruce Petersen]

@Aurelien Bonin

Read Gene Trowbridge's book "It's a Whole New Business" to start, it's a a great foundation and starting point

Need to be working on your database of potential investors if you haven't already. My rule of thumb is to have soft commits (this means you have to ask investment level up front) of at least 3x what I think I will need for the deal I will eventually do with them. Many of the soft commits won't come through when do have the target property for a number of reasons.

My first syndication, 48 unit, was funded by people I met through meet-ups and took months to form the bond and trust for them to invest with me but that was the springboard for closing 860 units in 18 months and a total of over 1100 syndicated.