When most people get into the real estate industry, they do so in the traditional manner: listing and selling homes. However, there’s many other real estate career paths that can prove to be quite profitable, syndication being one of them. In this podcast, Dan Summers from eVest Technology explains what real estate syndication really is, how syndicators make money, how to be successful in the industry, syndication pros and cons, and what waterfalls are with respect to your investors. In addition, you’ll learn how his eVest syndication platform provides a faster, easier, cheaper, and scalable option for real estate syndicators to digitally market their deals and get accredited investors on board with their syndication projects.
Real estate syndication is basically buying properties with other people’s money and mostly involves commercial properties. But although that may sound easy, there are serious rules and regulations you must follow in order to be compliant with the SEC. In other words, not everyone can invest in your project, which is why you must be certain to raise capital only from accredited investors with your real estate syndication. Not surprisingly, the key ingredient in being a successful syndicator is your reputation and credibility as someone who has put together previously successful deals. Dan’s advice? Start small!
However, once you have reached that point, there are plenty of ways to make money as a real estate syndicator, which Mr. Summers talks about in depth on the podcast. There are many ways to structure a syndication – some bad, some good, but the basics remain: you’re raising money from high net worth 3rd parties, and they want to know their money is in experienced hands. From acquisition fees, brokerage fees, to management fees and so many other fees that can be assigned to the deal, the profit potential is enormous, but you can’t “fee” the deal to death either.
Take it from someone who has spent over 30 years in commercial real estate: you have to find the right deal, a REAL deal. Identify the market, identify your investors, develop a strong marketing campaign, and be ready to pivot if necessary. What’s the best way to get in front of interested investors? Contact Dan by phone at 904-501-7693, by email here, or visit the eVest website for more information and begin the process of letting his syndication platform do all the heavy lifting for you!
And by the way, syndication isn’t just for real estate anymore either!
ABOUT OUR GUEST: Daniel Summers
Daniel Summers serves as the CEO of eVest Technology, LLC, and oversees all operations of the internal digital technology division and its real estate underwriting group. eVest Technology licenses its proprietary White Label software to clients who are in need of syndicating capital for acquisitions and/or development. eVest digitizes and automates the entire capital raising and investor management process. It eliminates the costly PPM’s and operating and subscription agreements, brings offerings to market within days not weeks, offers internalized accreditation, document execution and a robust message center allowing for massive communication instantly. Investors and Sponsors enjoy real-time CRM’s, automated dividend payments, and annualized reporting.
During his 30-plus-year career in real estate, he has been instrumental in some of the nation’s largest real estate transactions. Having spent decades interfacing with Goldman Sachs, Lehman Brothers, Deutsche Bank, CBS, Westinghouse and Bank of Boston, among others, Mr. Summers built a national reputation for integrity, honesty and transparency. During his career, he also acquired upwards of $2 Billion in Class A office and retail assets. Two of the high-profile assets acquired were the internationally known Frick Building (where Jack Reacher was filmed), and the Westinghouse Building (acquired from Michael Jordon CEO of Westinghouse). Both located in Pittsburgh, PA.
Along this journey, Daniel also owned/invested in a myriad of businesses. He was a co-investor with Mario Lemieux in the Pittsburgh Penguins, owned a Canadian drilling company, a beachfront resort and an international Adventure Racing company all the while raising his children on a horse and cattle farm in Richmond, Ohio. Bringing eVest technology to life has been his most recent passion. It’s become the most powerful syndication technology on the market today.
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