First Impressions of a Syndicator

Syndicator

As you know, I have chosen to go through a career change and cross over into the field of syndication of real estate.  Being a syndicator, as compared to being a real estate investor, is two jobs wrapped into one in that not only is it a real estate business, but also a securities business, with all of the accoutrement that come with that.  And let me tell you this – while I knew that I’d have to learn new things in terms of both form and function, the differences are immense.

Now that I’ve put the pedal to the metal as it relates to the process of syndication, I’d like to share with you some of my first impressions.  And right off the bat, one thing is for sure:

RUNNING A SYNDICATE IS A JOB!

Yep – this has been the busiest couple of weeks in recent memory.  I know what you may say: it’s just because this is your first one – once you close on it and outsource the management, you’ll have nothing more to do than sit there and collect cash flow…

And my answer to you would be – this might be true if I was only doing this one time; but, I am hoping to do 10 syndicated deals in as many years, each one requiring the same amount of output from me.  I have to assume that however busy I am at the moment is how busy I will be for the next 10 years…

Honestly guys, it seems that I am always on the phone with someone.  And if I am not on the phone, that’s only because I am studying Proformas.  And if I am not doing that, then I am building spreadsheets with which to analyze those proformas… Continue Reading at BiggerPockets…

Photo Credit: polywen via Compfight cc

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