263: College Dropout to Owning 900+ Units with Bruce Petersen

Many people have dreams of owning large multifamily properties—but fail to get beyond small deals. Not today’s guest! Today, we sit down with Bruce Petersen, an investor from the Austin, TX area who started with a 48-unit syndication deal and hasn’t looked back! Bruce has some incredible stories and lessons from his time in the business, so if you ever plan to buy an apartment complex, this is one episode you need to pay close attention to! In This Episode We Cover:Bruce’s backgroundWhat a syndicator doesWhy he started out with a 48-unit dealWhy it’s easier to handle a property with more unitsThe “deal triangle“Tips for hosting a meet-upThe class system of propertiesWhen to upgrade a unitWhat exactly a preferred return isHow syndicating really worksHow he included his daughters in the dealHow he finds dealsAnd SO much more!Links from the ShowBiggerPockets ForumsBiggerPockets EventsBrandon’s Twitter ProfileMindy’s Twitter ProfileLoopnetResmanBiggerPockets WebinarsBooks Mentioned in this ShowRich Dad Poor Dad by Robert T. KiyosakiJab, Jab, Jab, Right Hook by Gary V.Fire Round QuestionsHow do I vet a Syndication company?Syndicating CRE and having a real estate licenseShould I do a syndication?Is it standard practice for sellers of multi-family units to withhold P & L and other financial data until an offer is made?Tweetable Topics:“Don’t ever pay off a piece of real estate ever. Not even your personal residence.” (Tweet This!)“I’ve always syndicated everything.” (Tweet This!)Connect with BruceBruce’s BiggerPockets ProfileBruce’s WebsiteBruce’s Email