Multifamily Insights: Ep. 126: Syndication Lessons from His First Deal with Kyle Mitchell

Doing your first syndication can be daunting, but Kyle Mitchell (along with his wife Lalita) dove deep into the learning process to complete their first syndication. He faced various challenges managing all of the steps but is already on to his next deal. He shares his key lessons from his first syndication, info on the Arizona market and more on his podcast, Passive Income through Multifamily Real Estate.

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Key Insights

Started in the golf industry and started investing in passive rentals
Invested in SFR in California, but had challenges because it was not landlord -friendly and sold that property
Invested in turnkey rentals in Arkansas, Ohio and Chicago
Likes to diversify markets and asset classes for added protection
Focuses on Arizona syndication is in Arizona – Tucson and Phoenix
Purchased an online program and coaching which helped him take action
Gaining Credibility with brokers: Started several meetups, podcasts and quit his job so brokers knew he was serious
Needed a new lender with only 29 days left to close
Tapped a contact from his meetup that helped him close the deal
Starting the meetup and podcast were critical to help him build his network
Looked in Columbus, OH initially but would have been difficult to get to the market frequently from the west coast, so settled on Phoenix and Tucson