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WS47: How Multifamily Syndication Can Allow You to Implement Rigid Systems and Processes for Efficient Asset Management with Patrick Duffy

real estate multifamily syndication and investing

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Summary:

In this episode, Whitney interviews Patrick Duffy, CEO/Founder of Tactical Asset Management, LLC. Since January 2017, Patrick and his partners have acquired more than 2,000 units. Patrick reveals the various benefits of multifamily syndication, and shares why you should not hesitate from starting large as you venture into real estate investing. How can an inexperienced syndicator partner with someone well-known? How can you implement rigid systems and processes to prevent any leakages? And, what is the most difficult part of real estate syndication? Tune in to find out!

Time Stamped Show Notes:

  • 00:27 –  Whitney introduces Patrick to listeners
  • 00:58 – How did Patrick transition to the syndication business?
  • 03:03 – Patrick manages to enter the multifamily investing business by partnering with Michael Blanc
  • 06:01 – Why did Michael choose to partner with a newcomer like Patrick?
  • 08:01 – Learn how Patrick got the confidence to bid aggressively and make his biggest acquisition in 2017
  • 11:05 – Quit stalling and get started in the syndication business
  • 12:37 – Patricks’ AH-HA moment : Patrick discovers that starting larger is as easy or difficult as investing in single family homes
  • 14:25 – Having better property managers at your disposal is a huge benefit of multifamily investing
  • 15:45 – What is the most difficult part of the syndication business?
  • 18:20 – Better systems and processes will lead to better asset management
  • 19:28 – Learn how you can increase rents through renovation resulting in greater value add for syndicated properties
  • 21:17 – How to view the correct financial picture through accurate reporting
  • 23:12 – What is the #1 thing that has contributed to Patrick’s success? Persistence is the key to winning right deals
  • 24:53 – Meeting brokers and building relationships is the best way to collate information in order to find the right deals
  • 25:48 – Patrick shares his contact information
  • [spp-timestamp time=”26:17″] – A special thanks to our sponsor, Life Bridge Capital

In this episode, you will learn:

  1. Ways via which inexperienced syndicators can partner with established and well known players
  2. Why multifamily syndication allows for more efficient property management
  3. Systems and Processes for knowing the accurate financial picture in multifamily syndication

Resources

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