Multi-Family and Apartment Investing
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Syndication and advanced course on analyzing larger multi-family
I am curious if anyone could recommend a course or seminar that would teach about syndicating deals and another course, or could be same course, on analyzing larger apartment complexes.
@Andrew Day I have not taken courses but I would recommend you check out Joe Fairless and Theo Hick's Best Ever Apartment Syndication Book .
Little tip, get the kindle version. It includes the audiable for free.
Great recommendation above. Another route would be to actually call firms that do syndication or Joint Venture partnerships. If you called my firm and you fit the criteria of investor I work with, I would personally sit down with you and explain both the analysis process and syndication (or Joint Venture) process 1 on 1 to educate you. Thats the biggest thing to move from inaction and towards the deal process with first time (and even experienced) investors, is EDUCATION.
Every firm is going to have a specialization. It could be the firm has access to lots of capital, is a builder/contractor, brokerage, a combination, etc
Its your job to identify early on what your role is. If are a "money guy", and you called my firm I wouldn't ask (or want) you to analyze a deal but rather review my analysis and narratives I work up. Our role as your apartment broker and commercial mortgage broker that sponsors Syndication and Joint-Ventures in the NW is to find deals, analyze them, develop the strategy structure financing, and EXECUTE. Depending on your role, depends on how I structure the partnership agreement, operating agreement and which of my clients I partner you up with.
-
Real Estate Agent Oregon (#201226331)
- (503)222-0282
- http://www.constantcommercial.com
@Andrew Day If you want a course, then I'd recommend going with RE Mentor. Check out the link below for reference.
Originally posted by @Andrew Day:I am curious if anyone could recommend a course or seminar that would teach about syndicating deals and another course, or could be same course, on analyzing larger apartment complexes.
For about $150 you can get Michael Blank's SDA (Syndication Deal Analyzer). There are a series of videos that you get access to that go over the basics on how to use it. Then, you can go and play around with some variables to see what effects what and how much on the spreadsheet.
This is what I use and I think it is an excellent tool for the price. I will say it is easy to make a deal look amazing and easy to make a deal look horrible if you aren't careful with what you are putting in, and that is where education comes in.
You might want to attend your local REIA groups and find out who is doing syndication and talk with them. We run a monthly meeting in Asheville where we focus on multifamily investing and syndication, we have serval experts come in during the year to do a deep dive in different areas, underwriting, financing, PM...etc.
Look for multifamily MeetUp groups in your area to connect with syndicators and their underwriters. The good ones are passionate about multifamily investing and enjoy sharing what they have learned.
Best
@Andrew Day I believe the best way to learn is experience. There are multiple of free information regarding syndications and analyzing deals on the internet, podcasts, youtube, etc. Join a syndication. Find a mentor and learn off them. Get some real HANDS ON experience.
Information is not knowledge. The only source of knowledge is experience. You need experience to gain wisdom.
- Albert Einstein
I hope this helps!
@Andrew Day what kind of education have you done to date? Podcasts? Any books?
Lots of great suggestions in this thread, but perhaps you are not at that point yet, or perhaps beyond these suggestions.
Give us an idea of where you stand in your journey at this point?
@Michael Reilman has a great suggestion if you are just learning to underwrite deals (buy Michael Blank's Syndicated Deal Analyzer - SDA). I also typically suggest the book "Crushing It in small apartments" by Brian Murray if you are starting out. Joe Fairless's book is incredible but maybe too advanced if you're just starting out.
#4 Off Topic Contributor
- Investor
- Round Rock, TX
If your goal is to learn to raise capital Joel Block's Dealmaking Symposium is great content and well worth the investment.
If your goal is to learn to do financial analysis college courses may be your best bet.
If your goal is to learn to underwrite projects, tie them up, negotiate, manage contractors, work with banks, etc. find a mentor and learn via the apprentice model.
I would start by getting Joe Fairless book, Apartment Syndication. Then from there check his video with Theo Hicks on Youtube. From there get Michael Blanks SDA as other folks said. Then from there I think Michael has a course, and there is Jake and Gino and Brad Sumrok. Now there are 2 schools of thought do I go spend over thousands of dollars with these trainers or do I use that money and jump into a small deal and learn as much as possible from the above. Before you jump into the deal you really need to understand the process, terms, underwrite at least 50 deals in full.
Originally posted by @Chris Collins:@Michael Reilman has a great suggestion if you are just learning to underwrite deals (buy Michael Blank's Syndicated Deal Analyzer - SDA). I also typically suggest the book "Crushing It in small apartments" by Brian Murray if you are starting out. Joe Fairless's book is incredible but maybe too advanced if you're just starting out.
This is interesting, everyone says how you should go as big as possible as fast as possible (to which I understand) but a book on smaller deals? I'll add it to the reading list!
@Andrew Day - You have already received some incredible advice from so many people here, but I will just add that I learned on Michael Blank's SDA and have been very pleased with it. Joe Fairless also has a free syndication school website that I have found very valuable on the education side. I do believe is important to get educated and learn how to underwrite. But I have also found that education only gets you so far, you have to get out network and get experience to really learn. I would also highly recommend checking out Neal Bawa and Multifamily U. You can get some incredible education from these sources. Here is the link to JF syndication school. Good luck going forward
https://joefairless.com/apartment-syndication-school/
@Charles Seaman. I concur.
@Andrew Day
On Joe Fairless is podcast they have a series called syndication school which pretty much outlines everything needed for syndication.
I would recommend my own :)
Lots of great input here already. Joe and Theo's book is great. I would also add What Every Real Estate Investor Needs to Know about Cash Flow... And 36 Other Key Financial Measures.
Think Multifamily hosts an underwriting at least once a year. Mark Kenney and his team have bought a lot of property, so you may consider that event as well. Franklin TN is quite close to Nashville, if I were you I'd certainly go to local real estate investing events like @Bill Zahller recommended. A market like yours is bound to have some great meetups where you can meet successful investors in person for free (or very cheap)
@Lucia Rushton sent you a PM