WS71: How to syndicate your first deal with Michael Blank

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Summary:

In this episode, Whitney interviews Michael Blank, an apartment building investor, entrepreneur and teacher. Michael forayed into real estate investing in 2005, and started syndication from 2010. Michael shares how you can overcome the challenges of no experience and money to syndicate your first syndication deal. You will learn how education and a dream team can help you find success in the syndication business. How do you deal with brokers and property managers who refuse to treat you seriously? What are some resources that will help you find buy-in with potential investors? You will also learn some effective ways of improving deal flow when starting your syndication business. Tune in now!

Time Stamped Show Notes:

00:29 – Whitney introduces Michael to listeners
01:27 – How to overcome the challenge of little experience and no money when transitioning to real estate syndication
02:54 – How can syndicators without a track record have investors trust them?
03:33 – Importance of a proper education for gaining the confidence necessary to kick-start your own syndication business
03:53 – Michael shares how syndicators can build a team with complimentary skillsets in order to gain traction
06:07 – Steps that inexperienced syndicators can take in order be treated with respect and seriousness by real estate brokers
07:11 – How to deal with and find buy in with property managers
09:13 – How to vet a prospective property manager; should you physically inspect a property with your property manager?
10:42 – How many deals should you analyze before zeroing on your first deal?
12:06 – Effective ways for increasing deal flow in real estate syndication
13:36 – Is having no capital a barrier for those wanting to make a transition to the syndication business?
15:32 – How to use Michael’s Sample Deal Package as a conversation piece to get investors on board
17:11 – Will verbal commitments increase your confidence in order to make more offers?
19:03 – How do you find and communicate with prospective investors
21:32 – Common investor questions and concerns, and how to address them
23:21 – How to strategize your negotiations with investors by accurately gauging expectations
24:35 – What has been the most challenging aspect of syndication?
25:47 – What is the #1 thing that you can do to improve your syndication business? Discussing the how being a thought leader can help you scale up your business
27:53 – Michael shares his contact information
28:35 – Learn about, “Deal Desk” – a great program for folks who wish to learn deal analysis
29:40 – Share, Review and Subscribe to the Real Estate Syndication Show
29:53 – A special thanks to our sponsor, Lifebridge Capital

In this episode, you will learn

How to overcome the challenge of little experience and no money when syndicating your first deal
Resources for finding buy-in with potential investors for your syndication business
How to vet and find property managers for your first syndication project
Effective ways of projecting yourself as a thought leader and scaling up your business

Resources