All Forum Posts by: Chris Tracy

Ryan Narus would be a good person to reach out to.  I spoke with him recently- a good dude, very helpful.  He did an interview with Joe Fairless recently (episode 1834)... Good stuff!

Hey Joe... Have you read Joe Fairless's book on syndications?

@Austin Works- I would not even think about accepting a single investor dollar unless you had a solid sounding board (coach, mentor, guru, whatever).  If you've never successfully done a syndication, you will ultimately be placing your investors at a significant level of risk.  Me and @Ben Leybovich were just talking about this recently (you have to know how "the movie" will play out).  Doing what @Greg Dickerson suggested and seeing "how the sausage is made" as a passive investor is a wise move as well.  Plus you will probably struggle to get commitments from investors anyway, once they discover that you have no track record, so you may need that mentor to lean on as a sponsor or key principal.  Sorry, wasn't trying to suck the life out of the room... just trying to be helpful.  lol

I would try to get face to face with as many brokers as you can, especially since you live in an awesome market in Utah.  Sure you could use software like ProspectNow, Reonomy,  etc... but strong relationships with brokers is where it's at without a doubt.

@Roddy Walker- If you have not already done so, check out @Greg Dickerson- he coaches people.  He can't come out and say it because of this forum's policy.  I had the pleasure of speaking to him recently.  He's very knowledgeable and IMO fairly priced as far as paid mentors go.  I don't work for Greg and I don't make a dime by saying these things.  I just wanted to say some kind words about him because he's a nice guy, has worked with some of the best in the industry and can probably help you.

Hi @Sarah Smith!  Feel free to pm me... I would love to provide insight and answer any questions.

Can you help raise capital or underwrite deals?

Did you know that you could invest passively in other people's deals in various markets around the country?  Why restrict yourself to New York?  I don't have faith that you would get good returns with what you're suggesting to be honest and when I hear conversations about emerging markets, Queens doesn't ever come up.  You could partner up with various syndicators, provide the capital and sit back and collect distributions, while other people do all the work!  Man if I had $600k that's what I would do... lol.  Food for thought.  Hope that helps!

Have you explored Connecticut?  I often work with investors that come down from New York, Jersey and Boston.  Some people believe that Hartford is an emerging market.

Hi Gary... You will hear the term Sponsor used interchangeably with Key Principal or Syndicator... but basically think of the Sponsor as the quarterback of a football team that calls plays and is in charge of scoring points on the field (ie. getting returns for investors), performing active duties and not necessarily an investor per se.  For syndications, a $50K minimum is typical.  You don't need to be accredited... You just need to find someone who is doing a 506 (b) offering.