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Getting into Multifamily Real Estate Investing with Sterling White

SHOW SUMMARY:

Sterling White is a seasoned real estate investor, philanthropist, and former world record attemptee from Indianapolis, Indiana. He first joined the real estate world in 2009.

He is also the co-founder of Holdfolio—a real estate crowdfunding platform. His primary specialties include sales, marketing, crowdfunding, buy and hold investing, investment properties, and many more.

SHOW HIGHLIGHTS:

  • Who Sterling White is
  • How he got into entrepreneurship and real estate
  • Reasons Sterling likes multifamily
  • - Scalability
  • - The economy of scale
  • - Determining your exit
  • On finding someone else that complements you
  • On finding deals
  • Using outbound sales
  • Finding the list of people who own multifamily properties
  • On making calls
  • The syndication process
  • What preferred return means
  • Finding investors to fund your deals
  • Some legalities on raising money
  • On establishing a relationship with an individual
  • Cooling off period
  • On hiring a syndication attorney
  • What his team looks like
  • Getting a deal with no money or no credit
  • Tips and strategies about multifamily
  • On being creative when doing follow ups
  • Taking into consideration the amount you need to take care of the improvements
  • On creative financing structuring

Quotes:

  • “Multifamily is very scalable.”
  • “Start with where you are comfortable.”
  • “Step out of your comfort zone.”

RESOURCES AND LINKS FROM THIS SHOW:

SHOW TRANSCRIPT:

Larry: Welcome to the Brain Pick-A-Pro show live from Lake Wylie, South Carolina, and all the way up north in Indianapolis, Indiana, is my good friend, Sterling White. This guy is a mover and a shaker. I’ve heard him on some other podcast. I’ve seen what he’s doing and I’m like, man, I gotta get this guy on here to show you guys exactly what he’s doing and give some really, really good content. So, this is gonna be content only, we don’t have anything to sell, and if you like the show, whether you’re watching or whether you’re listening, please leave us some feedback, okay? We really, really gratefully appreciate that. That means a lot to us and if we can ever help you out, please be sure and reach out to us at LarryGoins.com. So, without further ado, Sterling White. What’s going on, buddy?

Sterling: Thanks so much for that phenomenal intro and those of you who are tuning in, keep your ears open ’cause I’m about to drop some gems and golden nuggets for you.

Larry: That’s awesome, man. Hey, why don’t you start out and tell our listeners and viewers a little bit about who is Sterling White.

Sterling: So, Sterling White was – well, I wanna speak for myself in third person, of course.

Larry: Right, right. Be like the Seinfeld episode. “Jimmy, there’s a light conflict,” right?

Sterling: But I was born and raised in this market in the not-so-good parts of the city where you wouldn’t necessarily walk your dog at night or even during the day, and through the course of that I, through my upbringing, lower income, so I had to work for what I ultimately wanted so that’s how the entrepreneurship bug came to fruition. Early elementary school days, my first product was actually Kool-Aid, selling that to kids throughout the school and then scaling that operation and fast forward into – yes, yes.

Larry: I’ve never ever, ever, ever heard anybody say scaling that operation in reference to Kool-Aid.

Sterling: Yes, yes.

Larry: I love it.

Sterling: Well, now always business in my head. So –

Larry: I love it.

Sterling: So fast forward to how I got into real estate is on the construction side and this is where things weren’t going so well in 2008, 2009, and three to four years after that, that’s how I got into single-family home investing and own just under 150 single-family homes, both my partner and I, and we’ve shifted more to multifamily, so our current holdings are just under 400 with the single-family and now also multifamily, so apartment complexes.

Larry: Awesome, awesome. So you’re doing nothing but multifamily right now, right?

Sterling: That is correct. Exactly.

Larry: That’s good, man. That’s good, and I’ve heard you on some other friend of mine’s podcast, I’m like I gotta get you on here, so let’s just jump right in. I know you’ve got a lot of little techniques and strategies and things that you use, you’re a technology guy. Tell us a little bit first of all about why you like multifamily so much.

Sterling: Multifamily is very scalable, so with our 150 or so single-families, we were involved with, gosh, I would say close to a hundred transactions with individual owners of those 150 assets, and with the multifamily, the 250 or so units we have were just four transactions, so just with that, there’s those purposes, and then economies of scale is another benefit as well is we have an eighty-unit apartment complex, there is where we can have people on site that are managing that versus with our single-families, they’re scattered throughout the city so we’re having to send the maintenance guy up here and then he’s having to go – so those benefits, and then the last one is determining your exit, so it’s based upon NOI is what a buyer looks at ’cause it’s more sophisticated, so if you’re able to drive that, you have more control.

Larry: Now, is it feasible to somebody just starting out could start with multifamily?

Sterling: I would say start with where you’re comfortable. Myself, my first deal that I acquired was a single-family home residence, and I had no credit. I was couch surfing at the time and had no money in the bank, I actually had negative ’cause I overwithdrew my account, but all those weaknesses or holes that I had, I found someone who had that and I brought them that first deal and was able to retain equity in it as well, so that’s one thing I would mention to people who are just looking to get started is from my experience, you have these holes, you basically find someone else who complements you. That person who I brought the deal to didn’t have the time but they had the capital, so I had the time and I had the deal.

Larry: That’s sweet, man. That’s sweet. Now, you know, everywhere you go, man, people are talking, multifamily, multifamily, I got 200 units here, 400 units here, my goal’s a thousand units by the end of the year, you know, with so much competition, how do you find these deals?

Sterling: It’s tough, definitely, in today’s climate but it’s about having systems in place. What we do is we’ve taken the off-market approach, ’cause now anything that hits the market which is – it’s just not feasible, people are just over it – yeah, it’s multiple calls to offers, highest and best, so our objective is to beat the brokers to the punch, so the four deals that we’ve acquired were all direct to owner and the process we use is cold calls. Outbound sales, ultimately, and, yeah, that’s the process. And I can go –

Larry: How do you find that list of people who own the multifamily properties?

Sterling: So, we build it. We’ll go in – you can use something like ListSource or if you have a broker that’s a friend, so we have a relationship with a broker that has access to more public records so you can be very targeted but let’s say you go use ListSource, for instance, dot com, you pull – our criteria is apartments between 50 to 150, let’s say Louisville, Kentucky, so we’ll pull that and then we’ll do further narrowing and say, okay, these are war zones, we don’t wanna be here, these are income restrictive, we don’t want this, these are luxury, we don’t want this, okay, here’s workforce housing, so we’ll have that so we’ll be very targeted and then from there that’s when we’ll bring in a researcher to scrape the data of who is the owner of the asset. Most of the time, it’s by an LLC. If it’s someone who’s even less sophisticated, they’ll put in their name, and then through that, once you skip trace and find that person’s information, phone call, you pick up the phone, call ’em.

Larry: Right, right. Okay, good, good, good. That’s good. I love it. I’m taking some notes here, man. So, 50 to 150, minus the low income, minus the war zones, then you have somebody scrape all that data. That could be a VA, right?

Sterling: Yes, exactly. Fiverr.com, very cheap, or also Upwork, but I would recommend Fiverr ’cause it’s definitely affordable. If it’s ongoing, then you can utilize Upwork. That’s just from my experience.

Larry: That’s really good. So just, guys, you understand, Fiverr is typically a project-based VA service, right?

Sterling: Exactly.

Larry: I need a flyer design or I need these, you know, this list put on a spreadsheet or whatever, right? Or research these people in this area, whatever it is.

Sterling: One-offs.

Larry: Or it could be ongoing.

Sterling: Exactly, exactly, and you can do Upwork as project based but Fiverr is just so much more beneficial for that and they’re already set up.

Larry: Right, exactly. Good point. Good point. So, you scrape the data, you got somebody making phone calls or is that you making the phone calls?

Sterling: It was myself that was making phone calls and my face is nice and – well, it’s not bloody now but definitely you take some punches from individuals who aren’t looking to sell or just having a bad day, but if you’re not a person, which I get these questions quite a bit, that, “Hey, I’m an introvert, I’m not willing to make calls,” one is, you have to step out of your comfort zone in order to – I mean, to achieve your goals, but if it really comes down to it, that’s – you can go back to Fiverr or Upwork.com and hire someone to make those calls for you, and that’s what we did.

Larry: You’re not – oh, so you have somebody, you have a VA making those calls now.

Sterling: Not a VA, it’s more of someone who has a sales background and they’re more – so it was myself that was doing it but now we have them, they’re making the calls and then setting the appointment. Once the person meets our qualifications, the apartment complex is fifty units plus, and they are interested in selling and then that’s when they set the appointment with me.

Larry: Hope you don’t mind me asking, do you have one salesperson, virtual salesperson, calling? Just one?

Sterling: We have two at this moment.

Larry: Two. How many hours a week are they working?

Sterling: I would say between ten to fifteen and the amount of leads that they’re calling is less than a thousand, ’cause we’re in markets within Indiana, Kentucky, and also Ohio, so it’s not a huge, like what you would get some, with – more on the single-family side, it’s like an abundance of leads. Ours is very narrow and tight knit.

Larry: Very niche.

Sterling: Very niche, correct.

Larry: So, how many leads can they generate in a week?

Sterling: Two to three. Very small, yeah.

Larry: How many do you think you have to get to get a deal?

Sterling: I would say, we’re looking at between 150 to 200 properties in order to snag one deal.

Larry: Wow.

Sterling: Yeah.

Larry: That’s a lot.

Sterling: Yeah, it’s a lot, yeah. Volume.

Larry: But, hey, you know, once you get it, man, it’s not a deal, it’s a steal, right?

Sterling: Exactly, and that’s the thing right now is if you’re looking for subpar deals then definitely that number could be more, but, yeah, we’re only looking for not necessarily homeruns but solid ones at this moment.

Larry: So, I would imagine that you’re doing syndication on these, right?

Sterling: It’s all out of my pocket to fund the deals. No, I’m just kidding. Not there yet. Not there at this moment, but, yes, syndication, correct.

Larry: Good. So, talk a little bit about syndication. Most people have heard of it, but just talk a little bit about it and then we’re gonna talk about how to find those investors.

Sterling: Yeah, so the syndication process is – most of it is you have to have your legal side that is in place, and then for us we already had the foundation set, we’ve built our own specific software to facilitate the process, so we have the – let’s say we have a deal that’s available and we provide our partners – well, I don’t wanna get too much into the numbers to kinda throw people off but – where would you like for me to go with this? I wanna make sure –

Larry: Idea about, you know, just overall syndication is basically an investment.

Sterling: Correct.

Larry: Investing in the property, they’re investing in an entity that’s buying the property, and they typically get what’s called a preferred rate and then a bonus, right?

Sterling: Exactly. I wasn’t gonna go into the – yeah, I was gonna go into preferred, but I’ll go, so normally we’ll do a preferred return of 8 percent, and what a preferred return means to all of you is let’s say you’re doing an 8 percent pref is over the course of the year is the investors get their 8 percent, so you do an 8 percent preferred return and then normally you’ll do a split over that so we’ll do a 75-25 split, 75 to our partners, 25 percent to us, but in order for us to get that 25 percent, partners have to get their 8 percent first and then that’s when we start getting paid. So that’s what a pref means for those –

Larry: So over and above the pref, the passive investor gets 75 percent of the net profits?

Sterling: That is correct.

Larry: Is there a cap on that?

Sterling: Not at this moment. We just kept it straight that way.

Larry: Okay. So, I mean, it’s realistic that they could earn 8 percent ’cause there’s no profit or they could earn 80 percent, right? Depending on what the investment does over a period of the year, right?

Sterling: Exactly, and that’s when the IRR comes into place and that’s when, yeah, there’s – I don’t wanna get too much and throw people off.

Larry: That’s okay, that’s okay. Look, what he’s talking about, guys, is IRR, internal rate of return. That’s the entire rate based on everything, right?

Sterling: Cash flow including the sale and then also that can be calculated when you sell, if you sell in three years, it’s gonna be a different calculation than five years.

Larry: Yeah, three versus five.

Sterling: Exactly.

Larry: Right, right, exactly. So, let’s talk about where do you find these investors to fund your deals?

Sterling: Yeah, so investors are, one, tremendous source is which I’m a BiggerPockets contributor so those of you who are on here may have seen my handsome mug on there. Writing the blogs, also on the podcast to doing the livestreams, so through creating value for others, in return, they get into your funnel because you become trusted and reputable, so that’s one – one great source is BiggerPockets.com. Another one is your power base, meaning your friends and family and somewhere up the food chain in your current inner circle, there is a rich uncle or rich aunt, somewhere through that, or a friend of a friend, so there’s that, and then also you can do networking events. Every – I would say every market or every state has some type of meetup group that is real estate focused and there are people out there that, again, don’t have the time to find the deals but they do have the capital and they wanna be passive.

Larry: Now, it’s always been a concern of me, people out there teaching how to raise money and stuff like that because there’s a lot of legalities. I mean, you’re dealing with the SEC, Securities and Exchange Commission, so you gotta make sure you dot every i and cross every t and make sure you do it the right way and there’s different types of funds, like some of ’em have to be an accredited investor or sophisticated investor, or you can market to just your friends and family, you’ve gotta establish relationship with them, depending on the type of fund. Will you touch on that just a little bit? Yeah, I know there’s no way to get into all the legalities and all that because anybody doing this, they’re gonna hire a securities attorney, am I right?

Sterling: Exactly, that specializes in that, not just a lawyer that does everything.

Larry: Right.

Sterling: Yes.

Larry: Right, and I mean, you can’t just go out here and start running an ad on Craigslist, and say, you know, “Westside villas, $2.8 million, I’m raising money, I’ll pay you 8 percent preferred, give me a call.” You can’t –

Sterling: Big no-no. Big no-no.

Larry: Big no-no. You can’t just advertise to the public like that, right?

Sterling: So, on our side, we do hire an attorney that does specialize in securities, and through that, he told us everything that we could do and should not do whatsoever, and for us we go through Reg D, can’t think if it’s 504 or 506, I believe it’s 506, but we can accept funds from both the accredited and non-accredited but we cannot general solicit and we also have to establish a relationship with an individual as well.

Larry: And what does that look like?

Sterling: Establishing a relationship?

Larry: Right.

Sterling: So, when someone visits our site, they register, Holdfolio.com which is where we attract investors to –

Larry: Say that website again.

Sterling: Oh, it is Holdfolio.com.

Larry: Okay, good, good, good.

Sterling: And through that is they have to – once they register, they have a phone call with us and then through that we better understand what their current needs are and what they’re looking for on the investment side and if we could be a good fit, so there’s that, establishing the relationship, and then we have a couple phone calls after that to establish, again, there’s like a cooling off period that they call it, and then that’s when that person can invest with you.

Larry: Okay.

Sterling: But it’s not from the gate. That’s our specific regulation to how we have to structure it. Someone couldn’t go to our site and visit our invest page and see that we’re accepting investments [inaudible 0:16:52] apartments, here’s all the offering documents, fund your investment, you’re ready to go.

Larry: You can’t do that. You gotta make sure that only the people who are qualified and you have that relationship with can see your actual property offering. You can talk generic, just like we’re doing right here all day long, right?

Sterling: Exactly.

Larry: But you can’t make an offering, right, of any investment until you’ve built that relationship.

Sterling: That is correct.

Larry: Tell us about what is the cooling off period? Share that with the listeners.

Sterling: That I would actually have to revisit. I know there’s been some changes in there. From what I’ve previously read, the cooling off period is – it’s very generic in how they have it structured.

Larry: Right, right. That’s all legalese, guys, that’s all legalese, don’t give him a hard time for not answering.

Sterling: Yes, please don’t.

Larry: Stuff the attorneys deal with, right?

Sterling: Exactly.

Larry: That’s why you hire a professional. You hire a syndication attorney. Don’t just try to get any kind of an attorney to do this. It’s gotta be a syndication attorney, right, Sterling?

Sterling: Uh-huh, and you just confirm with them, “Hey, am I able to do this?” “No, Sterling.” Alright, fair enough.

Larry: Good, good. So, tell us, I mean, you’re up to about 300 units now in a little less than three years. Tell us, how did you do it?

Sterling: So, the biggest thing is having someone, well, for myself, complement my weaknesses which is my partner, Jacob, in the business. So I’m more of an extrovert, marketing, attracting investors, getting the deal flow, he’s more of cleaning up my mess, operations, running the financials, so that has allowed us to go faster and really scale things, and then just putting people underneath us and then setting up the right systems to put them in the best positions to succeed, so I know that was a little generic on that but –

Larry: No, that’s okay. What all does your team look like? I mean, you said you have Jacob, your partner.

Sterling: Uh-huh, correct.

Larry: And then I know you’ve got the two salespeople that are virtual. Is that –

Sterling: Correct.

Larry: All that’s on your team or do you have more?

Sterling: Yeah, so we have them, we have I would say two to three virtual assistants that work with – that do the researching for us so let’s say owner’s information is bad, we’ve called their numbers, we’ll just tag them, “Hey, go find additional information,” versus taking away from that person’s time who’s doing the cold calling, only want them to focus on cold calling. We have a COO that operates our property management company ’cause we self-manage our own assets and then there’s leasing agent, administrative assistant, there’s construction manager, and all of our maintenance techs that are floating around, so I would say just under twenty – I would say twenty to twenty-five people is what we have onboard.

Larry: So, you don’t hire a third-party property manager, you manage it yourself, you self-manage.

Sterling: We were until just recently when we expanded from Indianapolis to Louisville, Kentucky, on that eighty-unit acquisition, so now it’s gonna be our first time managing the manager which is managing the property management company that’s overseeing that.

Larry: Right, okay, okay. Are you gonna change management companies with that project or are you gonna keep the same one?

Sterling: I would say at some point in time we’ll look to bring that back in-house. I would say after two to three years ’cause that’s a deep value-add, meaning we’re going in, we’re doing significant improvements and we’re shifting the complete current, what do you call that, tenant clientele so there’s a lot of moving parts.

Larry: Right. You upgrade the property, upgrade the tenants, and then upgrade the rent.

Sterling: Exactly.

Larry: That’s good, man, that’s good. Good stuff, good stuff. So, I know I’ve heard you talk a little bit about being able to do this with no money or no credit, how does that work?

Sterling: So, my very first deal which was in Indianapolis, total purchase price was $25,000 and that was – and put $25,000 into it, again, we’re in the mid-West, very affordable houses, this was a C-class asset and about a C+, B- neighborhood, and rented that for $850, so that was through my mentor who I actually started working for for free and, again, on his side, who’s looking to diversify from multifamily to single-families, didn’t have the time to find the deal, I had time to find the deal, I said, “Hey, this is a phenomenal investment,” brought that to him and that’s how the first deal was funded.

Larry: That’s awesome. That’s really good, that’s really good. So, what other tips and strategies do you have to share with our listeners about multifamily? I mean, you’re – like, right now, you’re in the middle of branding yourself, you know, and you’ve got like a sphere of influence in the real estate industry, how does that help you?

Sterling: It is – I think for myself, personally, it’s really been great to give back to others who are up and comers so I really get satisfaction from that.

Larry: Right.

Sterling: And then also, attracting the investors to be partners is another benefit as well, and then one thing that has really helped me and I’m gonna give kudos to Grant Cardone which I don’t know if you’re familiar with him.

Larry: Oh, sure.

Sterling: Huge sales guy, and what I took away from him relating to the real estate field is even when you’re buying, you’re still selling.

Larry: Right. I love it. Even when you’re buying, you’re still selling.

Sterling: Exactly, ’cause – to give you an example is you have to sell that owner or sell – yeah, sell that owner why it’s good to sell and why it’s beneficial to sell to you, so you have – it’s all a selling process and even if they’re not interested – and also, on top of that, is the follow-up, and through that is, if the person is not interested then and there, like the eighty-unit I was mentioning we purchased in Louisville, that guy wasn’t interested or didn’t even want to take my call the first four or five months. Month 6, he was ready to go. And that’s – yeah, and that’s just about following up and it’s about being creative so you can keep pounding the phone, say, “Hey, are you interested in selling? Hey, are you interested in selling?” But you have to get creative. Personal visits. I showed up. We had cups of coffee. I sent him direct mail pieces to say, “Hey, just thought about you, wanted to send this over. This is a way you could save on taxes, 1031 exchange,” so it’s getting creative in the way to follow up so you’ll stay top of mind so when they are ready to sell.

Larry: Yeah, you already closed on that deal?

Sterling: Yes.

Larry: Okay, so you can share little details about it. Can you tell us a little bit about the details of that deal?

Sterling: Yeah, so that is an eighty-unit apartment complex that is in Louisville, Kentucky. It’s a C-class asset, so a little bit older build, had some deferred maintenance, and what we’re doing is it was $100 to $150 underrented for us putting in, I believe it’s about $6,000 to $7,000 per door into that asset in order to get those rents up and we’re looking at, between year 1 and year 2, push up our cash on cash to about 11 to 12 percent to our partners, so that’s how it looks on the financials.

Larry: Sweet. What did you pay for that?

Sterling: Gosh, what was that? I believe it was $2.25 million.

Larry: Okay. Okay. Do you remember about how much money you had to raise on that one?

Sterling: A little over a million.

Larry: Okay. And that’s because, not because of the down payment but because you had to have some CapEx –

Sterling: Exactly.

Larry: Capital expenditures to be able to fund the repairs, right?

Sterling: Exactly. It needed some work. Not so much on the exterior, but the interior was – it was pretty outdated.

Larry: Yeah, yeah. Okay. Good, good, good. That’s awesome, man, that’s awesome.

Sterling: And I wanted to mention, this was a learning lesson for myself is when you’re raising capital is always take that into consideration, how much money that you need to take care of the improvements, ’cause on one of our deals, we tried to take that out of the cash flow which is a huge no-no. Raise it upfront. If it doesn’t make sense on the numbers, then you just have to move on to the next deal, that’s what it comes down to.

Larry: Right.

Sterling: Luckily we saved ourselves on that other deal but that was a huge learning lesson.

Larry: The good news is you’re persistent, man, and persistence pays off, right?

Sterling: Exactly.

Larry: Get ’er done.

Sterling: Make it happen.

Larry: That’s awesome, man. So talk a little bit about creative financing structuring.

Sterling: So our first deal, to give everyone an example, is the seller’s motivated, total purchase price was $900,000, and he carried back, he owned it free and clear, $700,000 so we only had to put down $200,000 of our own cash so this was seller financing and then we raised $685,000 to take care of improvements, so that was a little bit in terms of on the creative side and getting that deal done.

Larry: So you raised $685,000 plus the $200,000, right?

Sterling: Uh-huh, correct.

Larry: $885,000, just under a million, and tell us about that project now. What’s going on with that?

Sterling: Yeah, so this was 46 units so a little bit smaller and, gosh, what were the details? I would say the average – those were about $100 to $75 underrented. Now, I’m trying to think how much per door that averaged out to, but that –

Larry: What’s the value of that project now?

Sterling: $1.6, $1.7 million. We’re actually in the refi at this moment to pull our cash out of that, our cash and also our investor cash.

Larry: So the model on this one, instead of sell it right away, is your investors are in, they’re getting their 8 pref plus the, you know, when you refinance it, you’ll pay ’em off, right?

Sterling: Exactly.

Larry: And then will they still be in the deal?

Sterling: So we did – this one is debt as our first one so they’re just getting an 8 percent and nothing additional on top of that and then once we cash them out, they’re gonna be completely out, versus on our other deals, we’ve structured it, since it’s more on the equity, and, again, there are so many different structures and so many ways to go about these deals. It’s on our later ones, on the equity side, when we do a refinance, we still keep – the investors still retain ownership.

Larry: Now, you’re in the middle of a refi now, right?

Sterling: Uh-huh, exactly.

Larry: Good. I hope you’re gonna ask for a discount to pay off that loan.

Sterling: Yes.

Larry: You will now, anyway, right?

Sterling: Exactly.

Larry: Man, you never know, because a guy’s gotta pay taxes, right? He’s gotta pay taxes so he might even just give you a discount, right?

Sterling: Yeah, I would hope so. One thing I wanted to mention is the interest rate, so we – on that $700,000 that that seller had is that actually incentivized us to get a refinance as quickly as possible.

Larry: Oh, okay.

Sterling: So, the first year, I think it was 3 percent interest. Second year goes up to 5, and then third year goes up to 7, so I think right now we’re in that 7 period, but definitely, possibly negotiate that down on that price.

Larry: That’s good. Awesome, awesome. So, you’ve got a site, SyndicationPro.co, right?

Sterling: Uh-huh, correct.

Larry: Not dot com, dot co. Tell us a little bit about that.

Sterling: Yeah, so Syndication Pro came from what Holdfolio uses to syndicate our deals, so it allows us to save significant time raising money and also managing investors, so, before, there’s a lot of manual labor, going back and forth to your partners, did you wire your funds, or where they’re at in the process, so we built Syndication Pro from scratch. Our set – what we used, and then we decided to provide it to others such as us as well.

Larry: Okay, awesome. And what are the benefits of somebody using Syndication Pro?

Sterling: It allows you to have that foundation set. Yeah, to have the foundation and the structure. From once you have your offering available to sending that out to your investor partners, them clicking the link, visiting that invest page and seeing everything associated with it and then clicking the Invest Now button, signing the, what do you call that, the PPM, and then actually funding their investment, and then the second half is being able to go to your website and track that specific deal, how they’re doing on their returns.

Larry: So, as a syndicator promotor, you can upload or post all the data about your property, the financials or whatever, and then the investors can go in and check those numbers on a monthly or a quarterly basis, right?

Sterling: Exactly.

Larry: That’s really cool, man. Plus, I noticed here it says, you know, you can manage a partnership and to future investment deals and manage investor relationship with built-in CRM. That’s awesome, man, I love it. And it also helps keep you in compliant with the SEC, which is number one.

Sterling: Exactly. You still have to get an attorney involved to determine how you can, what you’re supposed to do and what not supposed to do, but the capabilities in there are for you once what you have that understanding.

Larry: That’s really good. That’s really good, man. That’s awesome. So, if somebody wanted to reach out to you, how will they get in touch with you?

Sterling: Yeah, so you can reach out to me at sterling@syndicationpro.co, not dot com, and then also if you’re on BiggerPockets.com, you can slide into my DM on there and I’m more than happy to provide any value for you, and that’s direct message for all of you guys.

Larry: There you go. That’s good, man. Well, listen, I really, really appreciate you being on. This has been awesome, man. This is good stuff.

Sterling: Oh, yeah. I’m ultimately here to bring you guys value and, again, if I didn’t happen to answer anything or stay too much in the clouds, do not hesitate to reach out to me. I’m here for you.

Larry: That’s really cool, man. Thank you so much for being on. I really, really appreciate it and if there’s anything I can ever help you with, please let me know.

Sterling: Oh, yeah. Will do, Larry.

Larry: Alright, buddy. Thanks a lot. Guys, everybody watching and listening, thank you, guys, so much for being on. I know you got a lot out of this. Please be sure and give us some feedback, you know, like this, share it, give us some feedback, we really, really appreciate it. We always learn from it and we check it all out and read it so thank you very much for watching, for listening, and we’ll see you on the next Brain Pick-A-Pro. Thanks a lot. Bye, Sterling.

Sterling: Two big things, all.