347: Using Multifamily Syndication to Reach 5,000 Units with Mark and Tamiel Kenney

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 12 September 2019

⏱️ 83 minutes

🔗️ Recording | iTunes | RSS

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Summary

On today’s show, a married couple who scaled to 5,000 units together! Brandon and David interview Mark and Tamiel Kenney, a husband and wife team who buy large apartment complexes through the power of syndication. This mighty couple shares some great insight into how to find the right partner, how to set expectations with your agent (or team member) in the beginning, and how coming up with strict criteria helped them overcome their fear of getting started. You’ll love their advice on what they learned in the first 12 months to help them land their first deal, how they split profits with investors, and which are the most important fundamentals for any multifamily investor to learn. You DO NOT want to miss their advice on following up after meeting with brokers or investors. Plus, they reveal the most common trait successful syndicators share. Mark and Tamiel go on to share how they’ve struggled with—and overcome—the difficulties of balancing a demanding business while still carving out valuable family time. Don’t miss this episode, and subscribe to the BiggerPockets Real Estate Podcast so you won’t miss the next! In This Episode We Cover: - What to look for in partners - How to have conversations with brokers and managers to set expectations - What they learned in their first year that allowed them to land their first big deal - The importance of strict criteria - Mistakes they made that prevented them from being successful - How they find deals their investors will want to invest in - How to provide clarity to help investors feel comfortable moving forward - How to use social media to build your database of partners, investors, and brokers - Advice for standing out from other buyers when interacting with brokers - How they split up the various tasks of their business - How a typical syndication split looks in their deals - What success looks like in their family and business - Why learning the fundamentals is more important than complicating your business - And SO much more! Links from the Show: BiggerPockets Forums BiggerPockets Webinar Monkeypod Kitchen Pacific North West Real Estate Wealth Expo BiggerPockets Podcast 189: 500 Deals, the $100,000 Wholesale Paycheck, & the Systems That Make it Work with Tarl Yarber Zillow Linkedin Brandon's Instagram Josh's Instagram Click here to listen on Biggerpockets: https://www.biggerpockets.com/show347 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the BiggerPockets Podcast so 3 47.
0:04.0	If we had to do it over again, I would say I would have rather started larger, but only if I had a
0:10.5	partner that had done it before and been through it that's the key and made
0:14.7	some mistakes frankly if everything's gone perfectly for somebody that might not be the
0:19.3	person I want to partner with frankly you're listening to bigger pockets radio simplifying real estate
0:25.0	for investors large and small. If you're here looking to learn about real estate
0:29.5	investing without all the height, you're in the right place.
0:33.0	Stay tuned and be sure to join the millions of others
0:36.0	who have benefited from bigger pockets.com.
0:39.0	Your home for real estate investing online.
0:42.0	What's going on on?
0:43.0	This is Brandon Turner, host to the BiggerPockets podcast here with my co-host,
0:48.0	the man who showed up to my town for a whole 24 hours last week.
0:52.0	David Green.
0:53.0	What's up David?
0:54.0	I'm doing great man.
0:55.0	I just got back from Hawaii.
0:56.0	I got some son, I got some exercise, I got a good conversation with you.
0:59.6	I think that we probably squeezed more into like a three hour meeting than most people do
1:03.2	into like a two week probably yeah yeah David he text me he's like hey I'm in
1:08.4	you want to dinner tonight I'm in your town and I was like wait And anyway, you were doing a whirlwind trip around Hawaii
1:16.2	and you got to do a couple cool things.
	...

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