In this episode we answer a question many have asked: what does a syndicator (aka Matthias) do all day? It’s a reasonable question and has been asked by most of his family and a good portion of his military buddies. Turns out there’s a lot of talking through some technological means to other people about a range of subjects, writing and underwriting, paperwork, and, on occasion, brainstorming and creating.
In other news, the Wilsons’ timeshare vacation came off without much of a hitch, though there is some question about calling it a vacation. Also, Legoland cityscapes are awesome, and I did a good deed only to be punished. I think there’s a saying about that. It’s an all-new Get Invested.
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Key Takeaways
A syndicator spends his days focusing on three main areas (one at a time, of course): 1. Acquisitions 2. Operations 3. Growth
Acquisitions
a. Build, curate, & maintain relationships with brokers to gain access to the right deals.
b.Underwriting deals: analyzing price, condition, location, market, & expenses to see if the deal will work as an investment.
c. If underwriting leads to sending an LOI, then we start negotiating a deal, which moves us into the due diligence phase that we’ve discussed previously.
Operations
a. Review management reports, property statuses, & finances of each property.
b. Make major, long-term decisions about property development & operational change.
c. Collecting, compiling, and filing reports on properties for tax purposes.
Growth
a. The goal is consistency of sharing knowledge and showing people value.
b. Educating more people through outreach about how they can invest in multi-family.
c. Build a network of people interested in investing with us in our project to change their lives.
Topic and Time Breakdown
16:15 - Understanding the Daily Grind in Real Estate
18:45 - Acquisition Strategies and Broker Relationships
25:40 - Navigating Property Acquisitions
26:49 - The Underwriting Process
32:07 - Crafting Letters of Intent
34:29 - Operational Management in Real Estate
44:34 - Growth Strategies and Outreach
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