Multifamily Legacy Podcast in the NY City Podcast Network

026: Syndication Law In The Multifamily World

Legal fees can cost you some money But it costs even more if you wait to get a lawyer until you are in trouble maybe because you don t know about real estate processes and paperwork Today my guest is Jillian Sidoti a syndication lawyer A syndication is when people are brought together to own an asset such as a property that s brought forth by a sponsor which provides property disclosures Previously Jillian was in the music industry and barely getting by She got sick and tired of being poor so she went back to law school But even she couldn t stand lawyers So she got into the real estate industry thanks to her finance degree While trying to find investors she met her partner to create Crowdfunding Lawyers Topics on Today s Episode What is a syndication and why do you need one Need to disclose everything – all pertinent information to save yourself from heartache and being sued When you make money you will have more than one syndication – and lawyers love to follow the money Hire a securities or syndication lawyer to properly prepare documentation What happens if you do not close on a property Will lawyer amend documents 506 b and 506 c offerings to raise capital Investor qualification form and verification for accreditation No one is going to steal your ideas instead you are building trust always be a student and a teacher Get into the habit of vetting investors as much as they vet you Be responsible for your investors and their money but don t put them on a pedestal Where to raise money and capital – go to galas Be cognisant – don t talk too much or be creepy be genuinely interested in people Do not pay more money than you need to pay to your investors Links and Resources Mentioned Gene Trowbridge Crowdfunding Lawyers Jillian s email Jillian s phone number is 323-799-1342 Quotes Legal fees can sometimes cost you some money but it costs you more to call me later when you re getting into trouble – Jillian Sidoti A syndication is bringing a group of people together to own an asset that s brought forth by a sponsor – Jillian Sidoti Every time I give one of my investors the packet this is going to be a document It s going to be thick It s going to scare the living crap out of you – Corey Peterson Don t forget to download my Free Workshop Quickstart Video Series and if you like what you have heard please leave a review on iTunes Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family Click here to visit this podcast episode