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Updated about 8 years ago on . Most recent reply

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Dylan Mohamed
  • Real Estate Agent
  • Davenport, FL
0
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12
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Help with starting out in Apartment Syndication.

Dylan Mohamed
  • Real Estate Agent
  • Davenport, FL
Posted

Looking for a experienced veteran in multifamily syndication who could teach me the ropes...

I am in New York City and will be willing to meet up where and whenever.

Time not being a issue, which is my plate to the table. So if someone could find it in them to help a youngster find the right way through this maze it would be greatly appreciated. 

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David Thompson
  • Investor
  • Austin, TX
1,127
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David Thompson
  • Investor
  • Austin, TX
Replied

I started w/Joe Fairless.  I know Reed very well and he started as Joe's student and now offering coaching as he's doing his own syndications.  There is a variety of paths.  I would recommend you due some self analysis on how you like to learn, what you need to learn and what you are good at. Some coaches are more 1x1 and some have very proven systems (more like the national clubs) depending on your needs. For instance, I'm not big on "rah, rah" clubs for me but for other folks, maybe a more social environment to learn and encourage them works.  Then set out to talk to several of these coaches, review clubs (LU, Brad Simrock) and determine what might work best for you considering availability, cost, time commitment, and what you want to get out of it.  I went w/Joe because of fit, he was very active in doing his own deals and eventually ended up partnering w/him raising capital on his deals and assisting in a variety of ways.  You can review my profile on BP where I have some podcast interviews on my experiences and a free ebook on my website on how I leveraged my coaching relationship to go into large MF in a big way.  Talk to various coaches about your goals to also help determine if they are the right fit for you.  If you want to learn syndication and raise capital, then I send folks to Joe period.

If you can never see yourself raising capital, not your thing, then you might like clubs.  Why?  Well, if you learn in a club and everyone analyzes deals the same way, same template, then when a deal you find and put together passes the "guru" stamp of approval, you won't have to learn how to raise capital as there are thousands of members that get to see your deal and will likely put in money if its a good deal. Money raising is a cinch.  Downside is you never learn this skill.  So, this is an example of studying yourself first then deciding what direction to take it.  Mentors I'm sure are fine, but paying someone in my opinion is a contract that more assures you are going to take it seriously and the coach is going to show up ready.

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