Why Your 'Dream Team' Might Be a Dealbreaker
By Mark Kenney | Think Multifamily
You’ve heard it said:
"Teamwork makes the dream work."
In multifamily syndication, though, the wrong team can just as easily turn a dream into a disaster.
At Think Multifamily, we’ve seen firsthand how people select partners based on familiarity, friendliness, or networking connections and this is one of the fastest ways to jeopardize a deal.
True partnerships require complementary skill sets, aligned values, and a unified commitment to overcoming the inevitable challenges that come with real estate investing.
Real Story
Over the years, we’ve witnessed partnerships fall apart — often at the worst possible moments:
A partner became "too busy" to manage the asset after closing.
Another avoided communicating with investors when trouble came.
One simply disappeared when lenders began increasing the pressure.
Each time, the investors bore the consequences, and the remaining partners were left to navigate a complicated recovery.
Key Lesson
Successful syndications are built on trust, clear expectations, and aligned missions.
Before forming a partnership:
Conduct rigorous due diligence on your potential partners.
Confirm skill sets and experience — don’t take vague claims at face value.
Define roles, responsibilities, and decision-making authority before acquiring a property.
Put formal agreements in place with the help of experienced legal counsel.
Ask around, it’s a small world.
Listen to your gut…if it says no, then don’t partner.
Always have a tie-breaker who can be the ultimate decision-maker — in case of a disagreement.
Remember:
Skills can be taught.
Character cannot.
Practical Guidance
✅ Partner with individuals who have a proven record of execution and integrity.
✅ Set expectations early — and revisit them regularly.
✅ Address tough scenarios in advance: unforeseen exits, workload imbalances, disagreements.
✅ Document every agreement in writing to protect everyone involved.
Bottom Line
If you cannot trust someone to act with integrity under pressure, you cannot trust them with your investors’ capital — or your reputation...Choose your partners wisely.
At Think Multifamily, we believe smart partnerships are the foundation of successful syndications.
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