MB 172: Building an Investor Pipeline for Multifamily Syndications

Once you get a multifamily deal under contract, the clock starts ticking. You have limited time to raise capital, so it’s super-important that you’ve already built relationships with potential investors and have a database to call on. But how do you transition from simply talking to people about the opportunity to invest with you to building a formal pipeline of truly interested investors?

Kyle Mitchell is Managing Partner at Limitless Estates, a multifamily firm investing in the Phoenix and Tucson markets. He started investing in single-family in 2015, building a $1M portfolio of nine properties in Illinois, Ohio and Arkansas, before quitting his W-2 job to pursue multifamily in 2018. Within two months of going all-in on apartment buildings, Kyle landed a 42-unit deal, and he is currently negotiating a $15M 128-unit deal. Kyle is also the host of the Passive Income Through Multifamily Real Estate Investing Podcast.

Today, Kyle joins me to explain his decision to quit his 9-to-5 before he had a multifamily deal, discussing the benefits of going full-time and the way he got brokers to take him seriously. He shares the details of his first multifamily syndication, describing how he raised $1M in 60 days and why he had to switch lenders late in the process. Listen in for Kyle’s advice around finding a mentor and building your team—and get his blueprint for building an investor database for multifamily syndications!

Key Takeaways

Why Kyle quit his job before he had a multifamily deal

How Kyle and his wife’s goals were in alignment

Kyle’s insight on the benefits of going full-time

How Kyle got brokers to take him seriously

Kyle’s first multifamily deal

When Kyle started raising money

How Kyle built his investor database

How Kyle overcame objections re: lack of track record

Kyle’s insight on the Law of the First Deal

Kyle’s advice for aspiring multifamily investors

Kyle’s blueprint for following in his footsteps

Connect with Kyle

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