JF2925: How the Syndication Framework Benefits GPs ft. Jennings Smith

The Best Ever CRE Show

Best Ever CRE

Business, Investing, Entrepreneurship

4.7 • 996 Ratings

🗓️ 7 September 2022

⏱️ 35 minutes

🔗️ Recording | iTunes | RSS

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Summary

Jennings Smith and his cousin Yeadon Smith are business partners who collectively own approximately 48% of their portfolio, which they were able to achieve through BRRRR-style apartment buying. Jennings got his start as a contractor after earning his builder’s license at 19 and began slowly building wealth through real estate. He took Michael Blank’s Ultimate Apartment Buyer Guide online course, which helped him syndicate his first 12-unit deal in 2019. Today, Jennings is the co-founder of Live Oak Capital and My First Million in Multifamily. Live Oak Capital is an investment firm focused on multifamily, and MFMIM aims to build networks and communication that help people close multifamily deals. In this episode, Jennings explains why he prefers syndications to JV deals, why he chooses to structure his deals with a 70/30 split with 70% going to the GP, and how identifying his strengths and weaknesses helped him to scale. Jennings Smith | Real Estate Background Co-founder of Live Oak Capital and My First Million in Multifamily (MFMIM). Live Oak Capital is an investment firm focused on multifamily. MFMIM aims to build networks and communication that help people close multifamily deals. Portfolio: GP of: 1,000 units 500 self-storage units Based in: Summerville, SC Say hi to him at: my-first-million-in-multifamily.mykajabi.com Facebook Instagram Podcast YouTube Best Ever Book: Flip the Script by Oren Klaff Greatest lesson: Borrowed belief. Understand that achieving goals is not difficult, it can just be different than what you initially thought. Surround yourself with people that inspire that same belief and are able to unlock your potential. Stay in touch with us! www.bestevercre.com YouTube Facebook LinkedIn Instagram Click here to know more about our sponsors: | dlp capital | Cash Flow Portal | Cornell Capital Holdings | PassiveInvesting.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Did you know that within a decade women will hold $30 trillion in investable assets?
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1:05.0	Quick disclaimer, the views and opinions expressed in this podcast are provided for
1:09.0	informational purposes only and should not be construed as an offer to buy or sell any securities or to make or
1:15.5	consider any investment or course of action.
1:18.7	For more information go to Best Ever Show.com.
1:22.0	We're all good at some things, but nobody's good at everything.
1:25.1	And that's where I think I screwed up was just thinking that I could manage a thousand
1:29.7	unit portfolio without robust systems in place and really not understanding deeply asset
1:35.7	management because it is different than just being a property manager over a couple of
1:38.9	apartments.
1:39.9	Welcome to the best ever show, the world's longest running daily commercial real estate
1:44.0	podcast. Our hosts interview commercial real estate experts every day to get you the
1:49.2	best advice ever with none of the fluffy stuff. Best ever listeners.
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