What actually goes into running a multifamily syndication business from start to finish?
In this solo episode, I break down the three pillars of multifamily syndication: acquisitions, capital raising, and asset management. A lot of new investors think this business is just about finding a deal and closing it, but that is really just the starting line. I walk through how we source deals through broker relationships instead of cold calling, what separates a good deal from a bad one once you get past the basics of underwriting, and why the last 10% of analyzing a deal is where the real money is made.
I also cover the three levels of raising capital, from buying with your own funds to joint ventures to full syndication, and why building your investor pipeline has to start long before you ever have a deal to offer. Finally, I get into asset management, the most overlooked pillar of this business, and why understanding the incentive gap between you and your property manager can make or break your returns.
If you are serious about becoming a general partner in multifamily, this episode lays out exactly what the job actually requires.
Timestamp
00:00 Intro
01:25 The three pillars of multifamily investing
02:35 Why broker relationships are the best way to source deals
06:38 What separates a good deal from a bad one once you know the basics
09:47 Key assumptions that go into underwriting a multifamily deal
11:24 The three levels of raising capital for a deal
14:52 Why capital raising starts with relationships not a website
16:54 Why asset management is the most overlooked pillar of this business
18:23 The incentive gap between you and your property manager
20:04 What asset management actually looks like week to week
What I Cover
- The three pillars of multifamily syndication
- How to source multifamily deals through broker relationships
- What it actually takes to know if a deal is good beyond basic underwriting
- The three levels of raising capital from self-funding to full syndication
- Why building your investor pipeline has to start well before you have a deal
- Why asset management is the most overlooked but most critical part of this business
- How to effectively oversee a property management company
Key Takeaways
- Strong broker relationships can create access to better acquisition opportunities
- Capital raising requires building relationships well before a deal is available
- A strong investor pipeline is more important than having a large social media presence
- Asset management is hands-on and critical to executing the business plan
- Your property manager handles day-to-day operations, but the GP still has to provide oversight and accountability
Resources
- Join my Multifamily Advisory Conference on Oct 9: https://www.eventbrite.com/e/multifamily-advisory-conference-tickets-1998949811697?aff=oddtdtcreator
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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