The Critical Error I Made in my Real Estate Syndication Journey

Published March 10, 2020
by Mark Kenney

The Decision that Almost Killed my Real Estate Syndication Career & The Decision that Catapulted it to Success!

When you reflect on all the decisions of your life, you’ll most likely recognize that there were large ones that didn’t make the impact you expected, small ones that packed a huge influence and many other decisions with outcomes everywhere in between.

Lucas Miller is a Think Multifamily Investor and Family Syndication Group member who opened-up about 2 decisions he made with polar-opposite results that shaped his future in Apartment Investing.

Lucas began investing in small rentals and flips in 2014. After 3 years Lucas was making money, but he was also coming to the realization that his labor to profit ratio needed improvement.

“There were too many things outside of my control,” says Lucas, “and it wasn’t sustainable.”

When Lucas discovered the idea of Syndication, he was ready to transition from Single Family to Multifamily. However, he admits,

“I made a critical error that seemed small then but put me off course for years.”

Lucas’s decision to enter the world of Real Estate Syndication and do everything himself was a career-molding choice he wishes he didn’t make. At the time, Lucas thought being the sole governor of his large property investments would allow him to better regulate the factors and challenges he faced in Single Family. But he underestimated the vast differences between small rentals and 100+ unit real estate investments.

“I didn’t think I needed a Multifamily coach, mentor or support group and therefore spent an entire year spinning my wheels, wasting my time, throwing money down the drain and getting nowhere.”

It’s plausible to say if Lucas had not made the decision to attack Syndication alone, on his own, he would not have known better to act on a career-correcting decision when it presented itself.

Real Estate Syndication Group - Think Multifamily“That one small decision to talk to Mark Kenney, Co-Founder of Think Multifamily and attend The FIRE Summit changed my life and put me on a trajectory that will far surpass any goals I set for myself,” Lucas exclaims. “After my first FIRE Summit, the relationships I built there allowed me to be a part of my SECOND large syndication in 5 months.”

So, what is The FIRE Summit? It’s a 2-Day Conference for seasoned and newbie Apartment Investors, with a packed agenda of Industry Experts and Experienced Multifamily Investors who are ready to guide Investors to Success! Lucas is not the only FIRE Summit success story. In fact, we’ve heard from investors, by the handfuls, who started out just like Lucas, many on the brink of defeat before they found Think Multifamily and The FIRE Summit.

Lucas concurs,

“NOT attending the The FIRE Summit was unacceptable. I was originally planning on attending a different event at that time. I canceled my tickets with no refund, changed my flights, canceled hotel rooms all because I believe in what this event is.”

Tamiel Kenney, who co-founded Think Multifamily with husband Mark, provides insight to why their FIRE Summit conference is where people are REALLY able to begin their Multifamily success journey.

“We’ve [Mark and I] been there, made the mistakes, lost time, wasted money and through those experiences, found the best way to financial freedom. Then we polished and perfected our process for Multifamily Investing, made it tried-and-true after years of acquiring large apartment buildings and decided to help others avoid the pitfalls that can impede progress and guide them all the way to Syndication Success.”

That “polished, perfected” process for Apartment Investing is what FIRE Summit conference-goers are introduced to. They also get access to all the major players that are making it happen NOW! The FIRE Summit program involves a myriad of Multifamily professionals like property managers, real estate attorneys, CPAs and Syndicators who devote their time and expertise at the Summit to educate people, just like you, so they can go out and do it too!

Multifamily Syndication Conference - FIRE Summit - Think Multifamily “All of us make decisions every day that change the trajectory of where we are headed in life,” Lucas resolves. “A small change here and there compounded over years can put you drastically off course from your goals. Attending The FIRE Summit was one that changed my trajectory for the better.”

What’s Lucas’ advice for those wanting to better their lives and the lives of their families?

“It’s easy to justify not doing something and coming up with excuses. I know because that was me. If you’re on the fence, don’t be. Make a small decision that will change your trajectory.”

The FIRE Summit is an Annual Event – so don’t miss your opportunity to attend!

About the Author

Mark Kenney
Mark Kenney is a seasoned real estate investor, entrepreneur and founder of Think Multifamily. Mark started his real estate career over 25 years ago and has extensive experience in property valuation, acquisition, and operations. He has a passion for helping others succeed in the multifamily arena.