“Ask very simple questions; have you been successful in the deals you’ve been in, have they paid you out successfully, have you had any concerns and what do you find works best? Very simple core questions that open the door to being able to confirm if they are a good reference or not.” -Christina Suter
Today I am talking about the ways you should vet a syndication deal. A syndication deal is a deal where a partnership from several investors is formed to combine resources to purchase a property. The first thing you should look at is the deal itself and the people you’ll be sharing this deal with. The next thing you should ask is will this deal work? Doing your due diligence is extremely important because the more you know about the property, the neighborhood, the market value and will it cash flow, the more successful the deal will be for you as an investor. The third part is asking do the principals know the area and do they have a long history there? Meaning do you know the asset class well and can you insure that the property through data and experience will be a successful investment? Next, always do background checks on people you are doing business with and the last part is checking references and calling people to check sources and information.
Topics Covered in this episode:
- The deal and the people attached to the deal
- Ways to help you know if a deal is a good fit for you
- Who are your principals and what do they know about the property, its location, and history
- TLO for background checks
- Why you should always reference check
- Due diligence
The Real Estate Breakthrough Show with Christina Suter is where we talk about the reality of real estate, the mindset you need and the tips and tricks to get you moving forward in investing. Join us every week and learn everything you need to know to invest in real estate education and create real wealth for a lifetime.
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