Syndicating is a B_tch - A Recap with Bruce Petersen

Prosperity Through Multifamily Real Estate Investing

Episode 103:
The Apartment Guy℠, Bruce Petersen, is an educator, best selling author and syndicator of large multi-family properties throughout Central Texas ranging in size from 48-292 units. He was awarded 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 as well as Think Realty's Multifamily Investor of the Year 2019.
Bruce targets stabilized properties where he can buy a cash-flowing asset and drive value through building "community" and improved operations. He is able to do this by implementing his proven systems and deploying his experienced staff to replicate his business model across the new acquisitions.

For today’s episode we will cover:

[ 00:00 - 08:14] Opening Segment.

• Getting to know Bruce Petersen.
• Why Bruce skipped the single-family market.

[ 08:14 - 14:15 ] Bruce and his observations before writing the book

• Motivation behind the book ( Syndicating Is A B*tch ).
• Why free seminars aren’t free.
• What people don’t experience during the free seminars.
• Why the book focuses on showing you why you shouldn’t do syndication.

[ 14:15 - 23:45 ] Horror stories in commercial real estate

• What experiences people in the trade don’t tell you.
• The 5 Million dollar fiasco.
• How the government got involved.
• Knowing your risk tolerance.
• Daily struggles with a management company.
• Suing situations because of earnest money.

[ 23:45 - 28:42 ] Marketing never stops.

• Knowing your strengths and acknowledging your weaknesses.
• Having partners who can compliment you.
• Why you need to keep raising capital.

[ 28:42 - 33:32 ] Basic aspects of Bruce’s Business

• Benefits of In-house management.
• Why you shouldn't start management for the income.
• Being compensated for not doing something yet.

[ 33:32 - 46:13 ] Structuring Bruce’s Promote.

• Doing it as an override.
• Doing it as a reallocation/ retained ownership.
• Improving your net worth.
• Aligning your interests with the investors interests
• Trying not to be greedy

[ 46:13 - 53:46 ] Closing segment

• Rapid fire questions for Nic.
• Not letting the ego get the best of you.
• Final words from everyone.

Tweetable Quotes:
“I want my investors to win while I win because then they’ll want to do another deal with me”

- Bruce Petersen
“The simpler I can keep my deals structured, the money likely I am to get an investor… But if I complicate the sh*t out of it, your eyes will roll back in your head… so you’re just going to walk off and find another deal.” - Bruce Petersen

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