It’s All About The Investor
The most challenging part of syndication for me, really it’s all about the investor, right? And I talk about this all the time. It almost ad nauseum, but it’s just the way it is. Nothing works without the investors. Don’t go find a deal without investors lined up because if you get the deal, but then you can’t raise the money for the deal, Oh, that’s not going to help anybody. It’s not going to help you. You’re going to have to back out at the end cause you couldn’t raise the money. You’re gonna start burning your name in this industry. Let’s say you think you need to raise $500,000 you damn well better raise 1.5 to 2 million and I know that’s, that’s heartburn. Like what? How in the world it’s going to be hard enough to raise 500 I promise you, you get soft commits from people for $500,000 a week, a month, three, six months later when you finally have that tangible project to show them you actually have a deal. Now, I promise at least half of them are gonna bail because a family emergency came up or they just found another deal that they liked before you came to them with the deal. So you better raise, I would say at least two or three times what you anticipate to need to make sure you have the money raised when the time comes.