WS65: How to Conservatively Underwrite a Real Estate Syndication Deal with Anna Myers

Listen to the podcast here:

Summary:

In this episode, Whitney interviews Anna Myers, Lead Underwriter for GroCapitus. Anna controls over 200 multifamily units in 5 different states. Anna shares how you can mitigate risk by conservatively underwriting a real estate syndication deal. You will learn how Anna successfully found a mentor in Neal Bawa of Grocapitus who showed her the ropes of the business. How do you analyze T-12 documents and analyze expenses while studying a new deal? What are some good resources for accessing data and predicting the future performance of a property? Anna also reveals different debt options, their pros and cons which helps SIMPLIFY the complex process of deal raising. Tune in to this informative show now!

Time Stamped Show Notes:

00:29 – Whitney introduces Anna to listeners
00:57 – How did Anna transition to the real estate syndication business?
03:00 – Anna move to real estate syndication in a bid to save taxes
[spp-timestamp time=”04:24″] – How did Anna end up being mentored by Neal Bawa of Grocapitus
05:13 – Importance of making data driven decisions in underwriting
06:10 – How to find and build a relationship with a mentor who can teach you the ropes of the business
09:16 – Tips and Tricks for correctly underwriting a real estate syndication deal
10:47 – How to procure financial documents and correctly analyze data while underwriting a deal
13:22 – Tips and Tricks for using Deal Analyzer while syndicating a deal
14:04 – How to predict future performance of a property by forecasting property rents
15:04 – How to unlock value add by upgrading units and bumping up rents
15:56 – Anna shares how you can analyze T -12 expenses to figure out any discrepancies
17:40 – Are there industry standards for expenses in the syndication business?
18:27 – Anna suggests talking to property managers for figuring out accurate operating expenses
19:55 – Resources that syndicators can use for correctly estimating operating expenses
20:53 – How to estimate the outcome of a real estate syndication deal, and accurately predict what different stakeholders will receive
22:45 – What are the different debt options available to syndicators?
24:35 –Should you opt for a bridge loan in order to crack a syndication deal in spite of its risky nature?
26:13 – What is the BIGGEST mistake that syndicators are currently making?
28:08 – Discussing how an overly aggressive mind set can lead to losses in syndication
31:11 – What is the #1 thing that has contributed to Anna’s success? We discuss the importance of conservative underwriting and partnering with the right people
32:13 – Anna shares her contact information
[spp-timestamp time=”32:55″] – Share, Review and Subscribe to the Real Estate Syndication Show
[spp-timestamp time=”33:11″] – Special thanks to our sponsor, LifeBridge Capital