All Forum Posts by: Eric Grunfeld

Hi @Eric Grunfeld. Syndication is typically best after you have quite a bit of experience. You will be taking a lot of money from a lot of wealthy people and they will want to know that you know how to steward it well.

I have been in real estate for almost a few decades before I did my first syndication. A great way to get in is to listen to all of the podcasts (Whitney Sewell’s Real Estate Syndication Show and the Joe Fairless Podcast). Read some books on the topic and find a paid coach or mentor. Many of the best syndicators right now were being coached or mentored in the prior decade. That is what I did and it changed my life forever. Happy investing!

I would education is your first step. I would Multifamily millionaire and the Hands Off Investor -- both can be found in biggerpockets bookstore. Also, Joe Fairless' book on real estate syndication is a good place to start. Listen to the BP podcast, Best Real Estate Investing Advice Ever Podcast, and The Real Estate Syndication show. All good podcasts where they have specific episodes targeted at this.

Would definitely be a passive investor first before jumping head first into the deep end of syndicating your own deals. At the very least I think you should talk with people in the business, and read The Hands Off Investor which has so much great info in it :)

Hey Eric, welcome to BP! There's a lot of value here for you. Most people don't jump right in to building their own syndication deals because there are so many moving parts and a lot of risk. Those that do make it can do very well. You might consider investing in other peoples' syndication deals as a subscriber first. Most of us would be happy to walk an investor through the many details of syndicating. Let me know if you have any specific questions and good luck!

The best thing about the WOW Group is there are so many ways to see how they teach before you jump in.  They have free courses, free challenges, and their growing YouTube channel, along with an Ask Us Anything on Wednesdays.  You can see if their coaching/personality style speaks to you.  There is so much to evaluate, and answer the "is it worth it" for yourself.  

They don't just want your money....they need you to be ready to take action, which for most of us means getting uncomfortable at times.  They'll get you there if you're ready to do the work.  They are no better than their success stories so they want you to execute.  At the same time, they meet you where you're at, and nudge without pushing: We are grown ups, after all.  They don't take your money, show you the course work and move onto the next person.  Your hand is held when necessary to get you over the tough humps, yet our tools are pretty flexible.   They are accessible and genuine.    

The network and opportunities that evolve out of it are a great recipe to get your portfolio going. 

People participating are all over the rainbow in background, personality, strengths, financial position, family make up, and color.  What we share are ethics, integrity, and a common goal to be investors.   We bring in our vulnerabilities to grow, and take the steps within their system making it happen.  

I don't regret joining for a minute.  I will be able to carry forward the lessons and tools way beyond my initial commitment.  I would not be where I am without their support, respect, and lessons.....and humor.  

And the group has the capacity to carry a person all the way, as they grow in their status and investing size.  What's not to LOVE about the group?

I do think rents are going to go up even more in Los Angeles than they already have. I wouldn't be surprised if we end up in double digit growth, so if you choose to wait it out, it could pay off long term in Los Angeles. The rents over the last two years for one of my rentals is up 20%-25%.

You could go out of state, but factor in that you have one appreciating asset that is paying you cash just go towards someone else's asset. By owning your own, you have an appreciating asset pay another appreciating asset. It could be a better flow of money and investment. Of course there are multiple ways to invest. I'm also looking out of state and would consider in Los Angeles but would be going towards my third house hack.

Step 1: pick an out of state market