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 background What a syndicator does Why he started out with a 48-unit deal Why it’s easier to handle a property with more units The “deal triangle“ Tips for hosting a meet-up The class system of properties When to upgrade a unit What exactly a preferred return is How syndicating really works How he included his daughters in the deal How he finds deals And SO much more! Links from the Show BiggerPockets Forums BiggerPockets Events Brandon’s Twitter Profile Mindy’s Twitter Profile Loopnet Resman BiggerPockets Webinars Books Mentioned in this Show Rich Dad Poor Dad by Robert T. Kiyosaki Jab, Jab, Jab, Right Hook by Gary V. Fire Round Questions How do I vet a Syndication company? Syndicating CRE and having a real estate license Should 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 Bruce Bruce’s BiggerPockets Profile Bruce’s Website Bruce’s Email Learn more about your ad choices. Visit megaphone.fm/adchoices