Hello and welcome. My name is Gino Barber, one of the co-founders of Jake and Gino. And in this how-to

video, if you want to learn how to stop making mistakes or avoiding the bigger mistakes in

syndicating a deal in multifamily, listen on. Jake and I created this three-step framework

for passive investors. But I always like to refer to it as if you're raising

capital or you're a general partner or a lead sponsor, this framework is really vital to you

because I want you to start looking at investing in multifamily from a passive perspective as if

you're the general partner, but you have to look at it from that past investor's perspective.

We're always thinking about what's in it for me, what's in it for me as a general partner, but you're trying really to create opportunity

and try to solve a problem for that past investor. And what is this three-step framework? Real quick,

before I dive into, I'm going to go over four mistakes. We call it the sponsor or the jockey.

The second part is the alignment of interests, which is the saddle.

And the third part is the horse, which is the deal. So think of the sponsor being the jockey.

He's the lead jockey. He's the lead sponsor of this deal. The second one, he's sitting on a saddle.

That needs to be an alignment of interest between the passive investor and the GP

or the sponsor of this deal. And the third one is the deal. Now, what do most passive investors do?

They focus first on the deal. You've heard it countless times if you're a GP or in the

Jacob and Genial community where people are joining or there's newer investors. They focus on,

I need a deal, I need a deal, I need a deal without thinking about their goals, without thinking

about what's a deal to them. And if you're investing passively, the most important thing is

that sponsor or that jockey. And obviously, does it align with your goals? If you're the general partner,

that's how you have to think. That's what that past investor is focused on. What's in it for them?

And is it a deal for them? So let's dive into some of the mistakes. And before I dive into them,

...