If you’re early in your career as a multifamily syndicator, a qualified team is essential in overcoming your lack of experience to go after larger, more lucrative deals. But how do you attract and align your interests with those prospective team members? And once you’ve established a track record of your own, how do you stay in front of your investors and continue to scale your money raising efforts?
Joe Fairless is Managing Partner with Ashcroft Capital, a national multifamily investment firm focused on major metropolitan areas. Joe has been investing in real estate since 2008, and to date, he controls more than $400M of real estate in the Houston and DFW regions. Joe is also the host of the popular daily podcast, Best Real Estate Investing Advice Ever, and the author of several books on real estate investing, including the newly released Best Ever Apartment Syndication Book.
Today, Joe joins me to discuss his impetus for writing the Best Ever Apartment Syndication Book and explain his belief in the Law of Reciprocity. He shares several of the advanced aspects of syndication outlined in the new book, including 4 ways to align interests with team members and pursue larger deals early on—in a safe way. Listen in for Joe’s insight on multifamily as a partnership business and learn his intentional system for staying top-of-mind with investors, adding value in a variety of ways on a regular basis!
Key Takeaways
Why Joe wrote the Best Ever Apartment Syndication Book
- Help investors understand how operations work
- Not beginner’s guide, need fundamentals first
- Get message out to help others (Law of Reciprocity)
Joe’s 4 ways to gain credibility through aligned interests
- Attract qualified team member (i.e.: property manager)
- Give team member equity stake of 5-30%
- Team members bring equity to deal
- Team members bring own money + investors
Joe’s insight on real estate as a partnership business
- Maximum return on time and money
- Align with experienced team early on
- Leverage track record of partners
- Larger deals in fast, safe way
Joe’s approach to staying top-of-mind with investors
- Daily podcast/blog (audio)
- Weekly email recap of content (visual)
- Monthly report mailed to accredited investors
- Quarterly happy hour, dinners (in-person)
- Annual Best Ever Conference
Connect with Joe
Email [email protected]
Resources
Best Ever Apartment Syndication Book by Joe Fairless and Theo Hicks
The 4-Hour Workweek: Escape the 9-5, Live Anywhere, and Join the New Rich by Timothy Ferriss
Best Ever Conference
Kathy Fettke at Real Wealth Network
Financial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank
Deal Maker LIVE
Podcast Show Notes
