Excellent explanation. To add on, for those that want to learn more I found this book to book to be excellent:

https://www.amazon.com/dp/B01M0UDZ4D..._qfSYFbMK4W0M4

Several airline pilots have gone on to be Deal Sponsors/Syndicators. It's tremendously more work than being a passive limited partner but one can build quite a bit of wealth after a series of successful deals

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hope it's not another Delta pilot pyramid scheme, like the "concert promotion" guy.

Before my time, but I’ve heard that was very successful. I’ll definitely jump in on the next round.

That was going to be my exit plan under the VEOP. It is WAY more work to be a deal sponsor than being a direct owner without partners. The amount of work and added responsibiloty for OPM kept me out of offering syndications. Passive is an awesome way to go for high earning professionals. Sourcing your own deals is more work, but comes with potential for higher returns. It also offers control over timing any refinance activity or exit. You also have 1031 options as an independent owner, syndications almost never have that option.

There's multiple resources out there, including the book I posted, that take your thru the steps recommended to do your own due diligence on Sponsors/Syndicators. With majority of partnerships/syndications requiring minimum investment of tens of thousands of dollars which you won't have access to for years, it is imperative to do some homework.

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Very true on the amount of work. Although it seems the majority of the work is at the beginning, setting up your team, systems and processes. After that gets rolling a lot of the workload is on autopilot. One sponsor told me managing a 400 unit apartment building is easier than managing a duplex he had when he first started because the apartment building is has so much scale it pays for the on site maintenance and leasing team. A duplex that responsibility is all you because the scale is so small property management would zap most if not all your cashflow.

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What do you mean by your last two sentences? As in, the world will turn?

Be greedy when others are fearful and fearful when others are greedy.

Commercial property is cheap right now and this situation will pass.

I have not found that to be the case at all. I have been doing small scale residential rentals for about 10 years now. I pay my manager approximately $150 per month per property plus expenses. That covers simple repairs, advertising and filling vacancies, screening tenants, maintenance during periods of vacancy and a few other minor things. After it's all said and done I net, on average, $900/mo per property so I'd hardly say that all my cashflow has been zapped. Occasionally big expenses do come up and that can put a damper on cash flow but you just have to plan and budget for those.

If the majority of your properties were purchased at 2009/10 prices 3rd party property management would work. Nearly every type of property generated significant cashflow at those prices. Lots of folks became millionaires purchasing properties at those significantly depressed levels.

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