What they say is that you can not teach an old dog new tricks – this is false. Just yesterday, standing at the kitchen sink I found myself telling Patrisha that I am learning at an astonishing (for me) pace. Every day I thrust the shovel into the ground, figuratively speaking, thinking that I know exactly what I’ll be pulling up, only to be surprised at what I actually unearth!
I don’t know if my ripe-old age of 39 qualifies me as an old dog, but I feel like one at the end of the day having chased my kids around. One thing is for sure indeed; whether I am old dog or not so much – I am learning at break-neck speed; more and faster than I ever thought possible at this stage in the game…
Most of you know by now that I’ve dedicated myself to learning the art of syndication. I’ve also committed myself to writing about it so that you don’t have to re-invent the wheel. The forthcoming is another installment of Ben is just a dumb landlord, but he is learning…
There are many “problem” areas as part of syndicating a deal. Today I want to address 2 of the difficulties that need to be negotiated as part of a successful syndication. And, at the end, I feel compelled to attach a short life lesson – it wouldn’t me if I didn’t.
MONEY and SYNDICATION
Relative to all things money, the process of syndication is fraught with difficulties. First thing is first:
Syndicating costs money – a lot of money. While I don’t mean to get into legal entity structures and how things work at this time, let me just say that the sponsor (that’s me) could be needing to drop $50,000 – $120,000 out of pocket just to get the ball rolling!
Anyone having a heart attack yet? Continue reading at BiggerPockets.