What does it actually take to do your first deal as a general partner in multifamily?
In this episode, I answer the question I get asked more than any other on social media and at meetups, how do you get started as a GP in multifamily syndication. I share the real story of how Paula and I transitioned from single-family into large-scale multifamily, the mistakes we made along the way, and what finally got us traction after months of trying to figure it out on our own.
I break down the three businesses that make up multifamily investing, acquisitions, capital raising, and asset management, and why most new investors only focus on one instead of understanding all three. I also walk through the different paths people take to get started, what financial cushion actually looks like going into your first deal, and the three biggest pitfalls I see new investors make over and over again.
If you have ever wondered what it really takes to become a general partner in multifamily, this episode gives you the honest picture.
Timestamp
00:00 Intro
02:08 Why we chose the multifamily syndication model over single family
04:37 How Paula and I got started in multifamily and what finally worked
07:07 The three businesses inside multifamily investing
09:36 Why coaching and mentorship accelerate progress but do not replace action
12:06 What financial cushion actually looks like going into your first deal
14:35 Becoming a co-GP and what that path really teaches you
16:39 The perpetual student mistake and why learning alone is not enough
19:09 The isolation mistake and why partnerships are essential in multifamily
21:39 Upcoming events for anyone serious about becoming a GP
What We Cover
- Why we chose commercial multifamily over single family investing
- The three businesses inside every multifamily syndication
- What it really takes financially and personally to do your first deal
- The different paths into multifamily including solo deals and co-GP partnerships
- The three biggest pitfalls new investors make when getting started
- Why mentorship accelerates growth but does not replace taking action
Key Takeaways
- Coaching and mentorship can accelerate your progress and help you avoid million-dollar mistakes
- Going in without enough financial cushion puts you and any partners you bring in at real risk
- Becoming a co-GP does not teach you every part of the business
- The perpetual student mistake keeps people stuck learning instead of getting started
- Partnerships are essential in multifamily; very few deals are ever done by one person alone
- Trying to do everything alone in multifamily almost always leads to isolation and missed opportunities
- Being honest about the work and risk involved leads to better outcomes than glossing over the hard parts
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Connect With Me
🌍 Website: https://www.apogeemfc.com/
📸 Instagram: https://instagram.com/multifamilyengineer
💼 LinkedIn: https://www.linkedin.com/in/jonathan-nichols45/
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