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Summary:
In this episode, Whitney interviews Sterling White, Co-Founder, Holdfolio. Sterling reveals how you can discover value add deals in this hot real estate market. He also shares some great ways of overcoming investor objections, and finding buy-in with even sophisticated and knowledgeable investors. Is it a good idea to cold call prospective sellers? How do you structure a syndication deal once you have investors on board? We also discuss the importance of goal setting and clear communication for sustained success in real estate syndication. This show is loaded with some great nuggets. Tune in now!
Time Stamped Show Notes:
- 00:28 – Whitney introduces Sterling to listeners
- 01:20 – How did Sterling transition to the real estate syndication business?
- 02:04 – Reasons why Sterling prefers syndication over single family investing
- 03:05 – How did Sterling find his first 46-unit syndication deal?
- 03:33 – How to find off market real estate deals with unlocked value
- 04:18 – How to find owner information and cold call them to zero in on suitable syndication properties
- 05:08 – When should you opt for cold calling over direct mailing? Are there any other ways of getting in touch with property owners?
- 06:46 – How has Scott managed to scale up the data mining and property scouting process?
- 07:10 – How to have a conversation to overcome objections with a prospective seller
- 07:52 – Is it advisable for a syndicator to have a face to face conversation with a prospective seller?
- 09:48 – What is the #`1 lesson that Scott has learnt so far? Learn the nuances of structuring a deal
- 10:25 – Discussing how variables can affect the outcome of your syndication project
- 11:21 – How to structure a deal to pique the interest of sophisticated and educated investors
- 13:34 – Sterling shares some of the funding difficulties that he faced while kick starting his syndication business
- 14:08 – Goal setting and clear communication is critical for finding success in real estate syndication
- 15:38 – Top reasons why syndicators fail
- 15:48 – Should you use a software to manage your capital raising process?
- 16:15 – The importance of building in a comfortable buffer in your capital raising process
- 16:44 – Learn about the custom CRM that Sterling has built in house; what sort of insights will you get from this software?
- 18:57 – What systems and software can inexperienced syndicators who are just starting off can use
- 20:41 – What is the #1 thing that has contributed to Sterling’s success? Sterling shares the importance of partnering with the right person
- 21:40 – What is the #1 thing that you can do to improve your business?
- 22:24 – Which is the one book that Sterling strongly recommends?
- 22:41 – Sterling shares his contact information
- 23:10 – A special thanks to our sponsor, Life Bridge Capital
In this episode, you will learn:
- Ways via which inexperienced syndicators can partner with established and well known players
- Why multifamily syndication allows for more efficient property management
- Systems and Processes for knowing the accurate financial picture in multifamily syndication
Resources
- Holdfolio
- Predictable Revenue: Turn Your Business Into A Sales Machine With The $100 Million Best Practices Of Salesforce.com
- Real Estate Syndication Podcast
- Life Bridge Capital
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