I've said it before. And I'll
say it again, there are two jobs

for any syndicator or fund
manager. Number one is finding

investors and number two is
finding assets to invest in.

This is a blast from the past
from when I used to coach

syndicators and fund managers on
how to start their own real

estate syndication funds. So the
video is about two years old, or

maybe a little bit more by the
time you're watching this video.

But it goes into a deep dive
into what that process looks

like in order to find those best
part markets across the nation.

All right, so wanted to go more
into marketing, or to market

analysis and to demographics.
Today, and so what I did was I'm

gonna switch to it. Good. Right.
So what we're gonna do today is

we're gonna look go through
some, you know, general market

analysis that I did, as we
talked about last time, my top

eight markets are in no
particular order, Seattle,

Denver, Phoenix, Houston,
Atlanta, Columbus, Ohio,

Charlotte, and Raleigh. So those
were the main markets that I was

picked out of, that we talked
about last week by looking at

who's growing the most, and who
has the who has the right size

of population, so that we're
choosing things that are

actually growing, and that would
be reasonable for investing in

rather than you wouldn't want to
grow to be saying, well, the 20

person town is growing it at
50%, because you know, 10 people

moved it, and that just wouldn't
be any good. So these are people

that are generally I'm looking
at growth rates, you know, above

1%, I'd love it 2% or 2% Plus,
and we're looking at it on a

county by county basis. And
that's important, and we'll see

why I pulled that up. So I
wanted first to look at let's go

through the kinds of reports
that I pulled up. This is a this

is a demographic Pro and income
profile for Phoenix area. I

actually grew up in Scottsdale,
so I know the area quite well.

And the Phoenix metropolitan
service area is actually very,

very large. Let's actually pull
it up so I can show you how

large it is. Where do you go?
Are you showing you're showing,

okay, we don't want to show it
on workplace, we want to show it

here. So this is so let's go
back to the Find the area. I

just want to show you how big
the metropolitan area is to make

a point here. When you're doing
demographics you're looking at

or market analysis of anything,
you're always looking at a

sample size, and sometimes that
sample is ginormous. As is the

case here. There is a huge
difference between this part.

Oops, between this part, can you
see my mouse? Now you can't see

my mouse. But you can see down
here. So from between this part

down here, and the middle of the
city right here. I mean, they're

they're two very, very different
things. So that has to be taken

into account primarily when you
start looking at the data. Now

when I was sorting through what
I was looking for was these

large blocks of of counting
information, I think this might

actually be city. See, how do I
go back to that? I don't know

how I go back to that. So is the
so it has to be taken into

account because these areas are
grow gonna grow. Probably some

of them fast, like, like over
here. But sometimes very, very

slow. Like, this isn't really in
the area. But this place over

here is growing, you know, at at
a much slower rate than the rest

of the country. And we're
looking kind of at averages and

we're looking at bigger areas.
This is showing us by zip code,

these color blocks so there are
some parts that are growing much

faster than others and some
parts that are bigger. So that

said this is the the demographic
information that we pulled out

of for Phoenix. So here's how I
kind of look at things first I

want to say I started the top
obviously I I always start with

the demographic and income
profile, because I care. You

know, if we think about what the
drivers are, the driver that

affects everything is
population, right? So population

affects your apartments, your
office, your, your industrial

and your retail. So it's only
employment that starts affecting

your, your office and your
industrial and your retail, and

then your spendable income
affects primarily retail. So in

population, we've got, you know,
a very large population base,

because this is a very big area
that it's pulling from, but we

still have a decent sized
growth. Now, the reason this

number is smaller than that 2%
that we saw last week, is

because again, that surface area
is much, much bigger. So I was

zooming in on the counties like
Maricopa County, that was at 2.2

point something percent, which
is the main air County for

Phoenix and Scottsdale, and Mesa
and Glendale, etc. But it

doesn't include the Indian
reservations that are there. So

So 1.58% was still bigger than
the national average national

average is expected to be point
seven 1%. I've got a slightly

young demographic, which is
something I would look for an

actual I'm kind of surprised
that it does skew younger than

the national average. And then
it's but it is approaching the

it is approaching the Yeah, the
national average. And then we've

got I'm sorry, that's not the
national average, that is the

here we have population by age.
Okay, we'll get to that part. So

we've got a, we've got a growing
area, growing faster than the

rest of the state growing faster
than the nation, we've got

households that are growing. So
the difference between

population and household really
is, you know, is per housing

unit. Families as per actual
family unit, because you could

have people sharing, you know,
roommates count as a household,

but they don't count as a
family. And then ownership of

homes is increasing. And above
the national average, and then

the median household income I've
always cared about is increasing

as well. I'm going to talk about
households by income in a

minute, because I've got a
better comparison that that

shows it then. Then what this
does, so by population by age,

what we're really looking at is
okay, well how does this break

down. So we can see, you know,
we're in our double digits,

really in this in this swath
between 25 and 65, which is

pretty normal. And it trends
throughout the time. So this is

from the original census, this
is the estimated number for the

2020 census. And then this is
the predicted number as well for

2026. And so we still see that
that swath right in there, which

is normal. We have a race and
ethnicity. Generally, that's not

a it's just not a really a
factor for what we're doing. And

then, now here, we kind of were
just seeing just general trends.

So population is growing faster
than everybody. Households are

growing faster than everybody.
Families are growing faster than

then. Then everybody. Same
across the board. The only

difference is the household
income is actually growing more

in the state than it is growing
in the area, which is

interesting. So I said, we will
get back to you, how do I go. So

one of the cities that we talked
about is Columbus, Ohio. And

here I want to talk about
householding. Because here I

would be a little bit concerned.
And I would start doing a little

bit more investigating. And then
I'm going to show you how I look

at it when it compares to
Raleigh, which has actually a

similar type thing. So we've got
our median household income.

Okay, we've got our median
household income at 2%. But the

nation is is expected to grow.
I'm sorry, in 2021, where we we

have a median trend in of I'm
sorry, I've missed right. All

right, we got our area we've got
2.04 versus 2.41%. So we've got

half a percent which is pretty
significant on a growth rate of

the nation that's significantly
more than the area that we're

surveying. Now, what I do next
is I come down and I want to see

what what income brackets are
really seeing that most amount

of change. So we're seeing,
we're seeing a decline in these

bottom tiered income, incomes
all the way down to all the way

down to here.

And so, so we're seeing that
decline that there is of the

population, you know, 7.9%, in
2021, we're below 15,000, well,

that drops to 6.7%. And so I'm
seeing an overall decline until

we get to, it starts increasing,
once we get to that 75,000. Up.

So that tells me that, okay, we
are trending up in these upper

income categories, which is what
I would want to see. But we're

not seeing a huge shift. When we
look at something like Raleigh,

and this isn't a, this is
Raleigh and Durham combined,

which is a. So it's, it's still
a good sized area. But it's it's

a much broader demographic. And
again, it's kind of big. So I'm

seeing 2.1% versus 2.4%. So I'd
be a little concerned. But what

gives me comfort here is I've
got, I've got pretty big swings

in these upper income brackets
here, my people in the one 150,

and up, you know, is 9.3 and
10.1, going up to 1111. So

that's telling me, okay, all of
my swings are really taking

place in this category here.
Really, everybody, it's not

until we get above 75,000, that
we start seeing a swing, and

then we get a pretty significant
swing. So that gives me hope

that the upper demographic is
actually swinging up. And that's

kind of reflected in what we're
seeing this, this shift in the

median household income from
what is currently in 2021

through 2026. So let's stick in
see, Phoenix might be useful,

Houston's actually a good
example too. So again, it this

is just to give you kind of an
idea and a flavor of the area.

The other thing that I find very
helpful, and I'd be happy to

send these to you as well, we're
gonna send you I'm gonna send

you all eight of these packages.
So I'm going to send you for all

of those cities that I've
defined, we're going to put in

the for download, in the
Knowledge Library, we'll put all

eight of both the tapestry and
the demographic and income

profile. So there'll be there
for you, you can look at those.

But here is your invitation,
please just let me know where

you want. What you want me to
run for you if you've got a

particular market, we're going
to we can do a deep dive into

that, which is actually one of
the things we're going to talk

about next week, what I'd like
to have happen is for people to

tell me where they want to run,
you know, whether that's, you

know, where do you think your
dominant area is going to be?

We'll run those demographics,
and then we'll start looking at

what that is. And then we'll
craft what the messaging would

be about the area to investors.
So I think that would be a

useful and interesting exercise.
Now, tapestries are pretty

interesting. So a tapestry is a
technology that came up that's

derived by ESRI. So it is just
it's a tapestry is another word

for a psychographic profile,
which basically takes all of the

information that exists both in
demographics and spending habits

and makes predictions about who
these people are and what kind

of categorized category you
could put them into. To do

hoping we can know getting it
very clearly

see me, so here's just one click
over to Chrome so you can see

it. So here's the the urban chic
one we've got, you know, this is

there, the average the number of
households that are predicted to

be in that average household
size 4.3 This is a very good way

to start to get a handle on not
only your area at large, but

also in the area that about
what's important and about what

spending habits are gonna look
back. So I've used this before

to make a case for certain
retail Uh, positions to say, you

know, these are the these are
people who try to who are

primarily eating organic foods
drinking important wine, they

appreciate a good cup of coffee.
So if I've got a retail center

that's got a great coffee shop,
it's this supports that, okay,

that's going to be a good tenant
that tenant should do well. It

also gives me kind of an idea of
what their their overall

spending habits are. And
ultimately, these are where

those main demographics are
located throughout the country.

It is they're interesting in, in
and of themselves in a smaller

air, I mean, in a, you know,
abroad sets, but let's do a no.

So let's do my office for fun.

That's a very strange way to
look at my office. Yes, that is

where my offices, okay. This
just looks funny here because of

how they laid it. So, oh, that's
showing all of cannabis. That's

interesting. Oops. Why? Stop,
stop. 23901. Hello, that's us.

There we go, I looks better.
That looks funny having it up

there. Okay. So this is my
office building, right there I

sit. Right. I can't move it. I
see I there. So what we can do

is we can build out several
rings and get skit very specific

kind of information about our
about our business itself. So we

can do that either by just
creating rings of mileage, or by

drive time, or by walk time, now
we are a driving area. So but

for what I want to talk about, I
actually just want to just look

at a two, a two mile radius of
around my office. Okay, so this

is, this is the radius around
where I work. And let's get a

dominant tapestry profile

and this one takes a little bit
longer to run, but you'll start

seeing in detail, a little bit
more trends, when you look at it

in a huge map. Like

Like here, it's so hard to pick
out, you know, it's like, well,

what, you know, the building I'm
looking at is there and that

doesn't really tell me very
much. But when we start looking

in more detail like here now we
started seeing Okay, now this is

what we're talking about. All of
these people belong to affluent

estates and, and or the upscale
avenues. Everybody is within

this. This, I think that's true
is that right?

Now, so, within within these
color codes, so affluent Estates

is this, this one, designated by
the number one, urban chic is

designated by the number two.
And so we get into more detail

about what they specifically
are. So if my building is in a

one a, that means there are top
tier. So now I'm starting to get

more and more information about
who these people are, they skew

slightly older, the average age
is 38. For the US here, it's 47.

It also has, you know, the
average incomes and the median

net worths as compared to the
rest of the country, but then I

do like how it talks about so I
can kind of get to know who

these people are. They buy
luxury cars. They they

contribute to the arts cultural
organizations. I wouldn't go

that far than that, but Okay,
sure. They use service for a

property garden maintenance.
Yeah, so everybody has a

gardener here. That's true.
Everybody has a housekeeper.

That's true. To kind of gives me
an an interesting perspective on

what, what's going on. Now, this
is for the, the demographic

profile, or the psychographic
profile. The median house value

here is not $890,000. But it
just gives you kind of an idea

about where they fall in what
they who they tend to be. And

what that does is that gives you
better, better talking points

when you're talking to your
investor about who those people

are, that are in your
surrounding area. So it may

matter a lot. If those if the
people in your say your build

buying an office building, and
all the people around that

office building tend to be
professionals. And you've got a

pretty good case that, you know,
this is probably going to be

most attractive to your lawyers
and insurance agents and things

like that, or if it's medical
office, and obviously doctors,

it's going to be the higher end
medical services. Whereas other

areas may have less of a demand
for certain things and more of a

demand for other things, you're
not going to find and there's, I

think there's one apartment
building. Yeah, there's only one

apartment building that I can
think of in Calabasas, there

probably are more, but I can
only think of one. So I wouldn't

go into there saying it's gonna
be a great market for apartment

buildings. While it could be,
you're gonna probably have some

problems. And in order to do
that, whereas if you're looking

to do, you know, either high end
homes, or you're looking to do

in a professional office, or
you're looking to do high end

retail, it's a great place for
it. If you're looking to put in

a food for less not a good area,
there is a food for less about

two miles away, but it's not in
the city. So that just gives you

kind of a background in terms of
how I look at demographics as it

relates or psychographics, as it
relates to what we're talking

about. So your assignment is to,
is to message me just, you know,

I would like either you know,
this city, or I'd like a, you

know, a five mile ring around
this address or in this whole

county or something, send me a
message of what you want

demographics for, we'll look at
him, and we'll go through it.

And we'll say, Well, this is
interesting. These are the

things that are really good, and
that I would talk about. And

these are the things that aren't
so good. Like, if I'm having a

negative growth rate, I
wouldn't, it certainly wouldn't

be the big thing that I'm
touting. But I probably would

address the fact that it exists
because you want to get that out

there as well.

Good example is I was doing a
syndication where one of the

people asked about what the what
the education system was, like,

you know, in terms of schools,
does it have good schools, and

what the population growth was
like, one of the people I was

working with on that deal, went
and told the went and told the

that investor that oh, the
schools are top of the country.

And the growth rate is
phenomenal. Completely untrue.

He was just being a salesperson.
And, but absolutely not true.

That person, oddly enough,
didn't chose not to invest. I

don't know whether they knew
that, that it was not a truthful

statement. There was a statement
that I just overheard. And it

was completely completely off
the mark. And I don't know how

many other people they told that
to, because I don't want to have

happen is for those negative
things that do exist in every

property and every situation. I
don't want those to, you know, I

don't want them to be lied about
because then at some point,

somebody's going to find out,
and then I'm going to get called

on it. And I've just lost all my
credibility. So it's good to

know, all of the sore points and
all of the good points. And then

you just look more professional
to when you disclose the points

that aren't so good. And you
just say, you know, look, the

growth rate in this general area
isn't so good. It's not

terrible. But here's here's why
that actually doesn't matter to

us. Because what we're doing is
we're doing XYZ, and you know,

you put a spin on it about why
it's not really a negative and

overcome that. What would be an
objection about that? before

it's even brought up. If the
fact that you brought it up just

makes you look more More and
more production. Alright, let's

say I now want to go through my
own mode yet. Okay? Let me open

up just bear with me one second.
Whoa, hi. Figure out how I bring

this up

and oh

oh, that's strange. Okay. So
first I want to talk about this

okay, then I have to sorry just
have to Nick this so it looks

right

I'm not even in the right

alright, just bear with me one
more sec. Almost there. Almost

there. Not easy to do. Graphics.
Wow. Live on camera. All right,

now we've got all right. So what
we've done here, this is a find

properties spreadsheet. Now it
looks similar to the the

spreadsheet that I've given you
before on finding investors. But

it kind of lays out the very,
very basics. The point isn't

really to use this spreadsheet
that this is the only way to do

it. The point for this
spreadsheet is, here's an easy

way to do it, just start doing
it and start logging. So I've

broken down the finding
properties into three different

things that you should be doing.
The first is database. Second is

agents. And the third is, is
CIA. CIA stands for commercial

information exchange, which is
your loop net, your Craxi your

co star, your catalyst, your
MLS, all those things are your

CIA's. So database we've got
here, I want you to go through

and just start building of the
properties that are in your

database that you think are
likely that match your founder

investment theory, just start
logging those in, put in who the

invent who the owner is, and
then decide, you know, what's

the best way to get a hold of
the owner, meet with the owner,

see if they'll take an offer.
This is the same thing a lot of

you do when you're talking for,
you know, getting a listing. But

here you're talking for
yourself. And so at the very

least, it's another way to have
a conversation with them. But

this is a way where your
brokerage business can feed

directly into your business as a
as a syndicator. And lastly, you

know, what are those notes I see
the best is probably a little

tiny. Let me zoom it in. So you
know, it's got these these

fields and it's got a notes
field, it is I would highly

recommend it just do this and
get it done. Just what are those

key properties? Because most of
you probably it's you want a

property. And so that's why you
haven't really gotten started.

And, and so if that's the case,
here's a way you can go through

your database, see what's in
existence and start just putting

properties down. The second way
is, is real estate agents. So

I've advocated before that the
great way to find properties is

start talking to agents. It's
probably worth incentivizing

them without them maybe being
able to take a brokerage fee and

double n the deal. If that's
valid in your state, which

probably is I think almost all
states let you double n and so

this case, they could double
that and make double the

commission. And you'll know and
but you'll then have a good

property to syndicate or split
it with them or come up with

something in order to do so this
is just a basic list that you

can build out just like our
other list of people to contact

so to build out a name a list of
who are those people? What is

the product type they typically
work in? Make sure these are

within your, your founder
investment theory, you don't

want to be talking to a to an
office guy when all you're

really interested in is his
land, right? It just that

wouldn't make any sense. You
know what geographic area or do

they specialize in, and then
just start meeting with them and

getting a hold of them and
talking about what's going on,

buy him a cup of coffee and see
what it is. Because at the end

of the day, they may not even be
have your product, but they may

be able to, they may know some
investors, that will go into

your deal as well. The last is
your commercial information

exchanges. So what I'm
recommending that you do here is

start building out your
searches. So, for example, I've

got searches on prexy, and
LoopNet, and costar for exactly

what I'm looking for. And it
emails me, you know, whenever

something new comes on the
market, now, some of the markets

are a little hot, and so there's
not a lot coming on the market.

And they're getting sold before
it hits the market. But at least

I'm getting notified as soon as
it hits the market. These

probably aren't where your deals
are coming from. But it may

still they may. And so it's
worth watching in knowing and

that you're also just going to
know your market a little bit

better. So you do this anyway,
for your when you're grepping

buyers, you build out, you know
a search in the MLS for them or

you build out a search for, for
them on retail properties, if

that's what they want to buy.
You build it out for them. And

and it's kind of a nice thing,
they get these emails, well, you

just do it for yourself, because
you are you're repping yourself.

So this is the binding
properties. Spreadsheet, let me

show you. And so I will be
sending this out as well. Now it

would make, I think it would
definitely be a swell idea to

start using this or some other
way. So the reason I'm giving

this is because I think they're
kind of useful forms. And I like

using Excel for them. But also
because to encourage you start

thinking about properties in a
more structured way, once things

are written down, you're much
more likely to take proud and

make progress than if it's not.
The other is.

Well look about it's switched on
like to pretty fancy is this

lapse system

Alright, so once I have and I
show you this, because I think a

lot of people aren't, don't have
any active deals right now. But

this is how I keep track of it.
And I want to take down the the

confusion about how to do it.
Now rather than have there being

some fear about well, once I get
it in, then I suddenly have to

do all this work. So one thing.
So this is the latch investors,

this is the total amount being
raised, the price per membership

unit, estimated closed date. And
then we just are starting to

list out names. Now these are
names from your database, this

is names from your sphere of
influence. This can absolutely

come from the other spreadsheet
that we gave back in I think it

was August 4. I was when we gave
that sheet. So if you want to

look at the August 4, rapid
implementation call, that's

where that is, then it has you
know that it has the necessary

steps. Now this assumes a 506 C,
which most of you are going to

be doing. So did they receive a
brochure? You know, simple

question, that brochure or pitch
deck did they receive? Did they

receive a PPM yet from you? When
did you pitch them formally? Did

they give you a soft commit? And
so for my definition, a soft

commit is somebody who says
yeah, that sounds like something

I'd put 50 $75,000 into, or
$50,000 into something like

that. After you've gotten the
soft commit, that it's at that

point, then we send it to
accreditation. Accreditation

costs money so that's why in
less I get a soft commit I'm

probably not going to send it
for accreditation, so the cost

of accreditation, few years
early IQ which we have a link

for, is, I believe it's $55 per,
per accreditation, and so you

know, you can either pass that
on to investors, which is fine.

But if they're not really
willing to give you a soft

commit, they're not going to
spend $55 anyway. And you're

certainly not going to spend
$55. For somebody who who's just

kind of on the fence, it's a
waste of money.

Once you hear back from them and
find out, if they're accredited,

then you move on to what their
firm commitment is, the now I've

decided I'm going to do
$100,000, great sign the

subscription agreement, then you
get the funds in there, this was

just for testing.

And then what we're doing here,
why this is swell, is because

you're always trying to keep
track of where you're at on any

given point on there. So I
haven't printed this up yet for

you, but you'll get the point
is, you know, how many of my

prospects in this list? Haven't
I contacted yet? How many are

alive? How many are? How many
are just unconverted? You know,

like, how many are there that
are still alive? And I've

pitched but I haven't converted
to them giving me any kind of

number. They just said, Let me
think about it. Or how many

Pete? How many of those gave me
a soft min? So yeah, I'd

probably do 200,000 How many of
them have finished the

accreditation process? And how
many signed the subscription

agreements have you got? Because
at the end of the day, what

you're really looking for is
these dollar. So you know,

really dollars that I still need
to get in my bank account is

$900,000. I still need $900,000.
Now I've received $100,000 from

from John Adams, he gave me
100,000. But I still need the

amount remaining. If I count, if
I start counting my people gave

me firm commits. You know, what
is that looking like? So let's

say Thomas Jefferson gave me a
firm commit of $50,000. Okay, so

if my firm commits come in, then
I really only need 850,000. And

then if I keep track of well,
but George Washington told me he

was gonna give me that he was
probably in for 250,000 Well,

okay, if I convert him, I've got
$600,000 Just trying to give

eyeballs on where you are at any
given point. Because, I mean,

this is the number that really
matters, the number of dollars

that are in the bank. At least
let you know, okay, I've got a

pretty big disconnect here. I
need to bridge that gap by

converting this, this, this
$400,000 In order to to make it

happen. And I gotta fix this
calculation, because it's adding

up people who already committed
so before I send it out, I'll

fix that up. Oh, no, that's
correct. So the $400,000 so this

is soft, committed dollars, but
it's actually soft committed

dollars. Less firm, less
received. So this is counting it

that way. So my mistake because
the the calculation is right, it

just didn't have very title. I
hope you found that video

helpful. My name is Tilden
Moschetti. I am a syndication

attorney with the Moschetti
Syndication Law Group. If we can

help you put together a real
estate syndication or fun or

find capital for your business
or whatever it is that you're

looking to use Regulation D for.
I hope you'll give us a call