In this episode, Whitney interviews Ben Lapidus, Partner, Spartan Investment Group, LLC. Ben reveals how a systemic acquisition process can help scout out and analyze great syndication deals with immense value add potential. What are the various precautions that you need to observe while underwriting a syndication deal? How should you tweak your acquisition process in a hot real estate market? We also discuss why storage development is an opportunity waiting to be tapped. Tune in now!
Time Stamped Show Notes:
- 00:27 – Whitney introduces Ben to listeners
- 01:03 – How did Ben transition to real estate syndication?
- 05:02 – Ben moves from single family investing to multifamily syndication
- 06:06 – Is it advisable for syndicators to find a good mentor?
- 07:48 – Was cracking the first syndication deal difficult for Ben? Ben admits that project management is not his forte
- 09:15 – Are investors skeptical about young syndicators looking to raise capital?
- 10:57 – Being honest and upfront with investors is critical for getting them onboard
- 13:10 – How to correctly underwrite a syndication deal
- 14:53 – Ben shares why he was unable to generate a positive cash flow for his investors on a recent deal
- 18:23 – What is Ben’s role at Spartan?
- 19:27 – Given the hot real estate market, has Ben changed his methodology for scouting and analyzing deals?
- 21:10 – Ben provides us a “peek” into the entire acquisition process at Spartan; you will learn how a collaborative work approach helps leverage individual strengths
- 25:04 – What is Ben currently working on? Learn why Ben is keen on investing in storage development
- 27:08 – Does Ben acquiring land and develop it?
- 28:43 – Ben shares contact information
- [spp-timestamp time=”29:23″] – A special thanks to our sponsor, Life Bridge Capital
In this episode, you will learn:
- How to correctly underwrite a syndication deal
- The ART of analyzing syndication deals in a hot real estate market
- Step by Step details of the entire acquisition process in real estate syndication