Often people think that syndications can only happen with large units, but our guest today Aaron Fragnito shows that successful syndicators can work with a range of property sizes. Aaron is different from many of the guests we’ve had on the show and is not the typical syndicator, but he is still hugely successful. Transitioning from being a realtor into syndication, Aaron found that some of the best deals he could find were on smaller properties, starting from about 6 units, prompting him to look into syndication for these types of deal.
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He realized early on that he needed to talk to people about what he was doing. This prompted him to work on his public speaking and speak at as many events as he could. Through this, he built both his momentum and the strong network that he still draws on today. Aaron takes us through how he starts syndication on a smaller property and why he favors syndication over a JV. He also walks us through his deal flows, why he started his own property management company and much more. Aaron is hard-working and committed to always learning and evolving. To hear more about his unconventional, but attainable syndication model, join us today!
Key Points From This Episode:
- How Aaron’s syndication business is different from typical syndications.
- Being a realtor prior to syndication helped Aaron in several ways.
- Details of the first syndication that Aaron did.
- Why Aaron ended up establishing his own property management company.
- It was mostly through networking that Aaron raised capital for his first deal.
- Have confidence and put yourself out there in whichever way you can.
- Some of the speakers that Aaron has at his real estate networking events.
- A PPM is expensive but starting a syndication is not.
- Discover the difference between a JV and a syndication.
- The biggest challenge with syndicating a small apartment block.
- Some of the ways that Aaron finds good deals.
- If syndicating locally, having your own management company minimizes risk.
- Finding good deals and investor mindset are the biggest challenges for Aaron.
- As a business owner, always recalibrate and adapt the business model.
[bctt tweet=”Whatever you do in this business, just get it out there to the world as much as you can. — @PCGrealestate” username=”whitney_sewell”]
Links Mentioned in Today’s Episode:
About Aaron Fragnito
Aaron Fragnito is a Co-Founder of Peoples Capital Group (PCG), host of New Jersey Real Estate Network, a licensed NJ Realtor and a full time real estate investor. Aaron has completed over 250 real estate transactions, totaling more than $35,000,000 in Real Estate in his career. Peoples Capital Group (PCG) works with qualified investors to create passive returns through local commercial real estate. The owners of PCG are experienced in locating discounted apartment buildings for sale in Northern NJ and implementing a value add strategy to create max returns for their silent investors. To learn more visit www.PeoplesCapitalGroup.com.
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