Finding Syndications to Partner With

[Frances Buerkens]

My partner and I are moving to Kentucky to begin syndicating apartments in Lexington and Covington (or Cincinnati). Because we won't move until November/December, networking with the local REIA isn't feasible. Do you have any suggestions on how to find and connect with syndicators in that area?

Our goal is to find a C class deal (10-40 units) and bring money for the purchase and rehab to another syndicator's table. We would prefer to have someone experienced on board for our first deal - and potentially many more if we like the relationship. 

We have hands on experience in property management, rehabs, and deal finding - but are looking to scale. I am a businesswoman and salesperson, and my partner is an engineer. We have a strong network of high net worth individuals.  

[Omar Khan]

Originally posted by @Frances Buerkens:

My partner and I are moving to Kentucky to begin syndicating apartments in Lexington and Covington (or Cincinnati). Because we won't move until November/December, networking with the local REIA isn't feasible. Do you have any suggestions on how to find and connect with syndicators in that area?

Our goal is to find a C class deal (10-40 units) and bring money for the purchase and rehab to another syndicator's table. We would prefer to have someone experienced on board for our first deal - and potentially many more if we like the relationship. 

We have hands on experience in property management, rehabs, and deal finding - but are looking to scale. I am a businesswoman and salesperson, and my partner is an engineer. We have a strong network of high net worth individuals.  

Your cost structure will be out of whack when doing 10-40 units syndications. In other words, legal / accounting and other costs will be too high relative to the amount of cash flow/profit you will be able to generate i.e. financial risk management will not be optimal.