Syndication Structures - Getting Started

[Matt Aquino]

Hi All,

I'd like to get a conversation going and seek people's guidance for resources and the basics on putting together (as a sponsor) a syndication of LPs to invest in small (8-20 units) multi-family buildings in major Northeast cities.

I am partnered with a small-time developer who has completed some value add projects with his own capital/financing and together we are now looking to grow and scale into slightly larger buildings over time.  We would like to raise a few million for a very specific asset type to have the bullets ready to acquire when discounted opportunities arise (we have a pipeline of potential deals and are mining for more). 

What I wanted this conversation to be around is the basics of starting a RE investment syndication. I received advice to purchase Joe Fairless book, which I am about to embark on reading. But I wanted to parallel run a conversation here because of the incredible resources and experiences there are within the BP world. To establish the funds - what are the steps to take, pitfalls to be aware of, etc. ??