Ep #9: What It Really Takes to Syndicate Multi-Family with Bruce Petersen

How can you target stabilized properties to buy a cash-flowing asset and drive value through improved operations? Implement your own systems and deploy your experienced staff to replicate the business model across new acquisitions. 

In this episode, Wayne talks to Bruce Petersen, a.k.a. The Apartment Guy. Bruce is a serial syndicator of large multifamily properties ranging from 120-292 units throughout Central Texas. Bruce won the Austin Apartment Association’s Independent Rental Owner of the Year for 2016 and the National Apartment Association’s Independent Rental Owner of the Year for 2017. Also, he’s the author of Syndicating is a B*tch: And Other Truths You Haven’t Been Told.

Topics on Today’s Episode:

• Why write a step-by-step guide? Free means someone’s trying to sell you something
• Stress of Syndication: What to expect and what can make a difference
• Coach/Mentor: Teach me how to invest in apartment complexes as a syndication
• Syndication: Learn from someone with experience to scale faster and safely
• Know, Like, and Trust: Start a meetup, attend real estate events, and build relationships
• Think Like a Millionaire: Save money but still live an abundant life, not a frugal one
• Location and Loan Parameters: Where to find deals based on what you want
• Relationships: Don’t be a moron, but respectful, professional, and mindful of others’ time
• Non-Disclosure Industry: Don’t trust or believe everything you are told
• What you’ll need: 30% down payment, 2-10% closing costs, and rehab funding 
• Property Goal: Double or triple soft commits for enough money
• Operations: Lenders may require third-party over in-house property management 
• KPIs: Owner’s packet with income statement, rent roll, and P&L balance sheet
• Passive Investors: There is no guarantee when making the right decision/projection
• Aspiration for Autistic Adult Space: Buy/build property for affordable, safe place to live 

Links and Resources:

Bruce PetersenSyndicating is a B*tch: And Other Truths You Haven’t Been Told by Bruce Petersen
Dave Ramsey
U.S. Securities and Exchange Commission (SEC)
Wayne Courreges
Free Passive Investor eBook by Wayne Courreges
The Untold Stories of Real Estate Investing Podcast