Tilden Moschetti: If you're new
to syndication or running a

private equity fund, wouldn't it
be nice to just bypass those

rookie mistakes so that you
don't have to make them in

putting together your
syndication or equity fund. My

name is Tilden Moschetti. I'm a
syndication attorney with the

Moschetti syndication Law Group,
I'm gonna go through those

rookie mistakes that oftentimes
I see things that are easily

fixable and give you the tools
to succeed quickly.

If you're new to syndication, or
private equity funds, there are

some mistakes that obviously get
made time and time again, you

get made by the people before
you and they'll get made by the

people after you, those people
are trying to raise money, buy

assets invest with other
people's money. Now, these are

the mistakes that I oftentimes
see in my practice, they're not

necessarily mistakes on one
particular deal. But there are

mistakes that are made on an
entire process of going from

that first deal all the way down
three years from now and growing

into that large fund or that,
you know, massive serial

syndicator, who's doing three
deals a month. Now, the way we

think about things are, it's
really the keys to the kingdom.

So the way that we put ourselves
forward, if we can fix these

little errors, and we can think
about things a little bit

differently, it'll launch your
career, your progression to that

three year mark much more
smoothly. So I got five key

points that I want to convey
that would be that will help you

make that transition from new,
two very experienced and very

successful. The first one is
building your book. So building

your book, there's there two
things that every investor must

do, or every syndicator must do.
First off, you got to be always,

always, always, always being
good. Adding investors always be

thinking about adding investors
talking to your current

investors, and building your
book of investors. Not only

that, but you also need to
always be thinking about

building your book have other
allied professionals that can

help you. Now certainly brokers
are a piece of that, but I'll

talk about them in a minute. But
also the loan brokers, the

people in the finance industry,
if you have marketing people,

your attorneys, all those
people, they always need to be

spoken to, you always need to be
expanding that book that Rolodex

has to grow. Number two that you
must always be doing is always

be looking for deals. Now. If
you are doing real estate

syndication, you're probably
looking and talking to brokers.

Brokers are definitely part of
that book of business from that

first step that I told you
about. But don't spend all your

time talking to brokers,
brokers, most of the time are

not going to be investing into
your deals, both brokers most of

the time are going to be coming
to me to set up their own their

deals for them. So they're
probably not that interested in

investing. They are though, the
keys to the kingdom of getting

good deals, getting offers and
getting good deals out there. If

you're not in real estate, and
you're doing something else

always be looking for what's
that next thing that I can be

doing. Even if you've got a
project going right now you've

got to always be be going
because as you're adding new

investors in more and more,
they're going to be hungry and

need to get deals if you bring
somebody in and you don't talk

to them for another for a year,
a new invent potential investor

because you don't have an offer
those there belong gone there.

They're lost, you will never get
them. So always be looking at

deals always be trying to find
what's that next deal. Now some

of my clients are really good at
bringing in a lot of deals and

they drown in deals. They've got
so many deals that they're

working on. That's okay, that's
a better problem to have than

not have any deals at all
because if you don't have any

deals you're not making any
money. Number three is relying

too much on just a small at one
investor or to investors. A lot

of people have like that one key
person who's basically buying

like half of their half of the
their units that they're

selling. That's okay that that's
happening but you can't start

counting on it. Nobody owns an
investor they can go away at any

given point. Even your mom and
dad if they're your investors

don't necessarily need to invest
in your next deal. So always be

looking, be looking for new
invest yours and diversifying

your investor pool, because
relying on one is just gonna

sink you, or like you can have
all this momentum and then

absolutely stop, because your
next deal just fell apart

because your key investor left.
Number four is always be

thinking about your liquidity.
So you need to be saving money

to get you through to the next
deal, especially if you're

marketing. If you're doing
Regulation D Rule 506c offers

where you're going to be
marketing, your marketing costs

are going to be expensive. So
make sure that you've got the

liquidity for you to be doing
that. Also, it's important that

you're making money in the deals
that you're doing. Because you

need that liquidity in order to
continue to grow your business.

If you put all the money towards
the equity at the end, well,

that's all great. But what how
are you going to do the next

deal in between where you need
to come up with a deposit or you

need to come up with something
in order to do that next deal.

You always got to be paying
attention to that liquidity. And

lastly, always, always, always,
always, like I said, number one,

build your list of investors,
you should be thinking about not

only building your investor list
as it relates to, you know, if

you're doing 506 beads just
growing that list, but you

should be you should be
marketing yourself as a

syndicator. Not on a particular
offer. If you're doing 506 B's

but as a syndicator so that you
can have conversations, go out

into the wild, talk to other
real other investment groups,

talk to other syndicators always
just be working on growing that

list of investors with you.
That's the power. I have one.

One client who started with the
very first deal that he did, it

took him six months to raise $2
million. That same investor, he

raised $500 million in less than
four hours. Now how did he do

it? Because he grew the list. He
just grew it to such a point

that there was such a fervor of
investors who wanted in with

them that all he has to do is
send out an email blast and he's

answering the phone, taking in
orders. That's all he has to do,

because he's always been growing
his list. So key takeaways from

this. Number one, always focus
on your book of business. Always

be working on the list of
investors, with loan brokers

with all those key players build
that Rolodex. Number two, look

for deals you do, you don't have
time to rest. Just because

you're working on a deal right
now does not mean you're not

working on the next deal. Number
three, don't rely too heavy on

one big investor, they can pull
out at any time and then

suddenly you are without
anything. Number four,

syndicators should have enough
funds, enough liquidity to warm

up investors to market to do
that next deal. A lot of times

that needs cash, and you need
that cash there you need a war

chest in order to do it. Number
five, build the list of

potential investors. You always
need to market yourself market

your company follow up with all
potential investors, you need

your list to grow. My name is
Tilden Moschetti. I'm a

syndication attorney with the
Moschetti syndication lager. I

hope this video was helpful for
you. Because I really do want to

see you succeed from your doing
your very first deal. All the

way to doing that year three
plan that three year plan where

suddenly now you are a major
hotshot and you've got all the

deals and all of the investors.
I'd love to see that happen. If

we can be of service to you in
that end, please don't hesitate

to give us a call.