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WS20: How to Prepare a Fallback Plan That Can Prevent Your Syndication Business from Going Under with Scott Lewis

Summary:

In this episode, Whitney interviews Scott Lewis, CEO of Spartan Investment group, LLC. Scott shares the importance of cultivating rigid system and processes – which shall instill in you the confidence to take on high ROI and audacious deals. What are the various benefits of working on bigger projects? And, as a syndicator, what should be your resort if you financiers back out at the last minute? How do you prepare a fallback option that keeps your business going in such moments of crisis? For all this and much more, tune in now to our latest show!

Time Stamped Show Notes:

  • 00:28 – Whitney introduces Scott to listeners
  • 02:14 – Scott started out working as a manual labor in high school
  • 03:16 – Scott ventures into the house flipping business and ends up earning a ROI 145% on one of his first investments
  • 05:48 – Why did Scott transition from house flipping to the syndication business? What are the benefits of going after bigger deals?
  • 09:07 – Which deal is Scott currently working on? Scott shares why his current deal is the craziest one that he has ever worked on
  • 11:02 – Streamlined processes will give you the confidence to take up audacious deals
  • 12:05 – Scott gives a peek into how he conducts due diligence
  • 12:43 – How did Scott implement such rigid processes
  • 14:50 – Learn how Scott faced an incredibly difficult time raising finance for his last syndication deal
  • 16:44 – What did Scott do when his lender pulled out at the last minute?
  • 20:11 – How conservative projects has helped Scott generate handsome returns for his investors
  • 21:43 – Teamwork and backing your employees to the hilt can help your business
  • 22:30 – How did Scott convince new investors
  • 24:28 – What is the #1 thing that you can to improve your business?
  • 26:25 – Scott shares his contact information
  • [spp-timestamp time=”26:43″] – Share, Subscribe and Review the Real Estate Syndication Podcast
  • [spp-timestamp time=”26:54″] – A special thanks to our sponsor, Life Bridge Capital

In this episode, you will learn:

  1. The various benefits of going after bigger deals
  2. How to streamline processes and systems for audacious deals
  3. The importance of having a fallback option – particularly with regards to raising finance for syndication deals

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