Most syndicators would agree that your first deal is a very important one as it can be one of the hardest ones to close. In this #Highlights episode, real estate entrepreneurs Kyle Mitchell and Brian Briscoe talk about how they found and closed their first multifamily syndication deal.
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Kyle walks us through his first syndication deal and narrates the importance of coaching programs in preparing yourself for landing that first deal. Meanwhile, Brian shares he went into his first deal with a self-centered mindset but came out the other end understanding just how much of team sports syndication truly is. Tune in and be inspired to close your first deal today!
Key Points From This Episode:
- Kyle shares how he learned about multifamily syndication.
- Kyle talks about his first deal and how he found the property.
- How did the coaching program help Kyle to close his first syndication deal?
- The key components that contributed to Brian getting his first deal over the finish line.
- Details of Four Oaks’ first deal and the role that Brian played in securing it.
- How Four Oaks’ partnership is structured, its evolution over time, and their communication.
“That coaching program helped us out tremendously. Nothing prepares you for what you go through on your first syndication without going through it.” – Kyle Mitchell
“You need a network. You need a team. Real estate is a team sport. We can’t do without that team. Even going forward now, we’re trying to build even stronger teams, stronger relationships because the stronger those are, the better you need to do in this industry.” – Kyle Mitchell
“You’ve always got to keep grinding and keep doing it. If you keep doing those things consistently, you’re going to break through.” – Kyle Mitchell
“I think one thing that was key to me is I have a very defined date in mind, where I have very specific financial goals.” – Brian Briscoe
“Every day, I look at the what is the next couple of things I need to do to make this happen. Really, it was a combination of mentorship. It was a combination of the partners who are all hustling and doing their part and just the coordination between it. End of the day, it was that big why that I have.” – Brian Briscoe
Links Mentioned in Today’s Episode:
About Kyle Mitchell
Kyle Mitchell is a real estate entrepreneur who just recently closed on his first multifamily syndication in May of 2019. He is the Managing Partner and Co-Founder of Limitless Estates, whose vision is to provide A-class living to lower-income housing by putting the residents first and instilling a sense of community while inspiring others to do the same.
Kyle is also the co-host of the weekly real estate podcast, Passive Income through Multifamily Real Estate, where he speaks with various experts in the real estate industry to help educate and create clarity for passive investors.
With a background in operations, management, and logistics, he has overseen multi-million dollar businesses and has a passion for doing the same in the multifamily syndication space.
About Brian Briscoe
Brian Briscoe is a principal at Four Oaks Capital and co-host of the Diary of an Apartment Investor podcast. He is also a Lieutenant Colonel in the United States Marine Corps and brings years of leadership and management experience to his real estate investments. As a Marine officer, he has proven his ability to plan, lead, and effectively accomplish missions in both training and combat situations. He has earned graduate degrees from both the University of Utah and Naval Postgraduate School and is currently stationed at the Pentagon. He has actively invested in real estate since 2007. Brian is an Advisor in Michael Blank’s Deal Maker Mastermind.
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