You can get better or worse returns in a syndication vs. a buy and hold - you just need to evaluate the #'s, the sponsor's track record, and make sure you're comfortable w/ the assumptions of each option.Key differences:1) control: in a syndication, you have little to none, mainly just whatever influence your voting rights provides2) liquidity: in a syndication, it's not easy getting out prior to the entire group selling the property3) time: being a passive in a syndication is about as passive an investment as you can get, whereas buy and hold will involve landlording, repairs, maint,, etc. unless you hire a PM company4) 1031 exchanges: must easier to orchestrate on your own buy and hold property.    

Maybe he was also just dropping you a quick line and could elaborate further in a phone call.Maybe you could eventually sell to him or exchange ideas.

Develop a professional relationship w/ experienced r/e investors and volunteer to work in exchange for education/experience/mentorship (not money). 

He goes after Asian and European clients through the Internet and foreign publications and seminars.

We take care of each others pets in a pinch, exchange holiday cards and share a meal occasionally.

Hi @Mike Miller, unfortunately, the way you are structuring that deal you are a builder selling inventory and that would not qualify for a 1031 exchange.  

2) If your experienced, how many would consider a 45% split in exchange for $1M+ in JV capital?

utm_source=search&utm_medium=internal&utm_campaign=books (books recommended by BPers)Simply, bone up on the areas that you need to expand knowledge in such as, Forums, Marketplace, Learn, Network, Analyze and Resources.Feast on the Podcasts, #askbp Podcasts, blogs and webinars Lastly, this site thrives on interactions and as such we encourage two way exchanges and look forward to educational and thought provoking ideas relevant to REI.

If you know the area, have thoughts about the market, or are interested in having your lunch paid for in exchange for advice or ideas about the market, financing, strategies, etc. - let's do it.

I also stated that for HER protection (and my own) a contract should probably be executed before the exchange of funds.