Transitioning into Apartment Syndication

[Peter Eberhardt]

Hey BP community, 

After reflecting on the process of my last 4plex purchase and rehab, I am really eager to do more.  I want to learn more and work towards syndicating my first apartment building deal.  

I’ve been learning a lot with books and podcasts on the subject but, I learn the most by doing hands on.

Would it be best to find and join a mentor group? I have no problem in doing that, and will easily find a good one and join if this is the next best step. 

Or would it be best to find a GP that I can help, bring value to, and continue my growth that way? If you are a GP, how would you view someone like myself with my limited investing experience in the small multi family space and how could I bring any value to you?

Or maybe a combination of both? 

I have all the time, high drive, and dedication, and want to channel it so I can syndicate my first deal in 2023. I appreciate your input! 

[Anderson Bigate Nogueira]

Hi @Peter Eberhardt,

I like your enthusiasm and direction you are going. I'm a multifamily syndicator myself and I absolutely believe multifamily apartments are the most recession resilient asset class. Not sure what "size" of syndication you are planning to do, and it can be quite different to acquire and operate. I focus on >100 units because of the benefits of scale, spread the risk, better debt conditions, etc. and for that case, despite I also liking to "learn hands on", under this economy it might be prudent to learn "alongside others", as there is higher volume of money at stake. There are several multifamily syndication groups you can join and learn with them, to mention a few: Rod Khleif, Lifestyles Unlimited and Brad Sumrok - which is the one I am part of. There are a multitude of benefits joining an experienced group of syndicators: networking and finding partners (multifamily is a sports game), credible source for vendors for everything you need (Prop Management, Contractor, Cost Segregation, Loan Brokers, Water Conservation programs, SDRIA, security lawyers, etc. etc.). 

I've acquired 820 units in 2022 and plan to buy another 3 large multifamily in 2023. Hit me up if you want to talk more about it and good luck on your journey.