From JVs to Syndications with Greg Scully

Greg Scully is a former small business owner with his wife and business partner, Kim. He also retired after a 20-year career with Frito-Lay. They have been investing in real estate since 2016. Currently, their portfolio consists of an ownership interest in over 150 units in Tennessee and Indiana with a market value of $4,200,000. They have also participated in a land development project in South Carolina. He has recently partnered to scale both the flipping and multifamily investment opportunities in central and eastern Tennessee.

In this episode, Greg shares the foundational elements of a joint venture and syndication and how to go about raising capital to fund these partnerships.

Checkout: Raising Capital Without Rejection Full-Day Workshop (Online): https://investorattractionworkshop.com/

What you'll learn in just 17 minutes from today's episode: 

• Find out how to go about joint venture partnerships and syndications, the costs involved, and where to get capital investors
• Discover strategies on how to tighten your network base for joint venture and syndication partners
• Learn about one tool he uses to build that know-like-trust factor in nurturing relationships for your network base

Resources/Links: 

• Website: https://realwealth.solutions/

Topics Covered: 

• 00:53 - What is his top investment strategy
• 01:35 - Number of flips he does in a year
• 02:07 - Multifamily size he's looking into these days
• 03:03 - Differentiating joint ventures from syndication
• 03:51 - The size of properties he brings on JV partners or scales it up to syndication
• 05:04 - Ideal number of JV partners for joint partnership
• 05:40 - Costs involved when dealing with syndications
• 08:17 - How to go about syndication and where to find capital partners
• 09:41 - Finding active and passive investors among their network base
• 10:26 - Minimum amount he requires from syndication partners at the time he started syndicating
• 12:24 - How has his podcast benefitted him and his real estate investing business

Key Takeaways:

"I am of the mind that fewer is better [number of JV partners]. If you can keep it under six; that would be my sweet spot." - Greg Scully

"We came up with education platforms; we often come along with a pretty tight network. So that is largely where our initial investor base came from, which is the relationships. We paid for education to ramp up and accelerate our growth in this business." - Greg Scully

"It's just been a great avenue [having a podcast]. I like these longer conversations instead of popping in and out of social media. This lends a lot more to my personality. It's a great way for people to get to know you. You can just get much more granular with questions, and things are this way or that way. And through those kinds of conversations, you can build trust with each other. People will work with you in business when they like, know, and trust you." - Greg Scully

Connect with Greg Scully:

• Website: https://realwealth.solutions/
• LinkedIn: https://www.linkedin.com/in/gregjscully/

Connect with Dave Dubeau: 

• Podcast: http://www.propertyprofitspodcast.com/ 
• Website: https://davedubeau.com/home 
• Investor Attraction Workshop: http://www.investorattractionworkshop.com/ 
• Facebook: https://www.facebook.com/thedavedubeau 
• LinkedIn: http://linkedin.com/in/davedubeau 

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