Today I would like to talk about the whole process of syndication, what it entails. What happens after we syndicate? How we communicate with the investors and so forth. I hope you looked at my module on " why PPM? ""What is PPM? "In addition, the investor types. As a syndicator,you will determine the emerging market. You will also bebuilding a strong team of commercial brokers. They are good people to build with, talk to them on regular basis. Send them some gifts and get to be on their top level. Usually only the listing or seller brokers not the buyer brokers. Listing brokers can help you a lot. They can bring the listing to you. We call them the pocket listings. The put away the listings for a few days or weeks before they even tell anybody about it. Even pre-pocket listings, when the ink is not dried up, those are the best listings we always keep asking them about. Asking them questions like " what owners, are thinking of selling in this particular market?" we can grab that deal before it even comes out in the open. www.loopnet.com, www.costar.com are websites. However, many times when the properties come out for the whole world to see. They have gone through about five layers
Commercial property Management Company is a great company to have on your team. You can get their opinion on what part of the town is nice or not. In addition, what are the collections, what are the vacancy rates and trying to find out from them, really digging into what has happened in the last five years andanalyzing what can happen in the next five to ten years? How have they seen that part of the emerging market?Have they seen growth of value added? You can find out such things. The broker should also be providing you with such information. We have to parts of this company. One is the acquisition part of it; the other is the management part of it. We do everything together, we like it because, we can see and control every dollar coming I and going out. You might want to hire a management company from outside, a very profitable one. You can ask for references from outside and make sure you are really understand their organization their bookkeeping, their reports and so on. All of these need to be put in place to get a very nice management company.
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