How to Start in Multifamily Syndication with Mike Vann, Episode 198
Mike has been investing for over 20 years throughout Arkansas and Missouri while balancing a family and a full-time career in the medical device industry. Built a $6MM portfolio of single-family, small multifamily, and commercial properties. Mike now focuses on multifamily syndication with over 1,000 units across Kansas, Oklahoma, and Dallas-Fort Worth, valued at over $60MM.
Mike was working full-time and after avoiding layoffs multiple times, he realized there was an opportunity to educate and work with other busy professionals to help them on their quest for financial freedom. In this episode, Mike shares how he got started in multifamily syndication, why he focuses on educating investors, and insights on the Kansas, Oklahoma, and DFW markets.
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How Mike got started in real estate investing while holding down a fulltime job and raising a family
Why Mike transitioned into multifamily syndication, working with passive investors
What it took for Mike to finally quit his day job and solely rely on his real estate investing career
Never considered partners, but after a few years, he knew the only way to scale would be through multifamily syndication.
Clearing up the misunderstandings about multifamily syndication
How Mike started the multifamily syndication investing conversation and started raising capital.
I don’t view multifamily syndication as asking people for money,
I view it as providing them with a profitable opportunity.
Focusing on the education piece of multifamily syndication empowers you to put potential investors at ease about investing with you
The biggest questions asked about multifamily syndication answered
The conversations he is having with his investors in regards to the ramifications of COVID19 on the real estate industry
Oklahoma, Dallas Fort Worth, and Kansas City markets insights
Median household income and the rationale behind pinpointing a 3/1 rent ratio tenants
How Mike is shifting his strategy due to COVID19, and focusing on opportunities that are on the backside of the crisis
The pros and cons of retail investor vs. institutional capital deals
The future of the Oklahoma, Dallas Fort Worth and Kansas City markets
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Early on in his career, he was doing flips, but quickly found it wasn’t like the TV Shows. He learned to not take failure personally and to be persistent.
AppFolio (Investor Portal)
Most Recommended Book:
Best Ever Apartment Syndication Book (Joe Fairless)
Reflection and prayer in the morning.
Wish I Knew When I Was Starting Out:
That raising capital is not asking for money, it’s providing opportunity.
What’s going to happen in the next 6 months in the real estate market.
Best Place to Grab a Bite in Springfield, MO:
Trident Multifamily School (Coming Soon!)