Single Asset Syndications vs Funds with Zach Morrow
Zach. Thank you for joining us today!
Taylor, you’re so welcome. I appreciate you having me. It’s been a great
talk so far and I’m sure we’re going to have a great conversation for our listeners out there for those that don’t know about you and what you do. Can you give us an intro and tell us about yourself and your business?
Yeah, absolutely. So I’m glad to get connected. Number one glad to visit and be able to share today and look forward to being able to share. And what’s going to be most valuable for the audience, but a little bit about me. I run the investor relations for boron capital and we’re a private investment firm that focuses on setting up investment funds that allow investors.
To gain access to opportunities where they can invest in the tangible assets and focus on growing their wealth and actually having confidence and transparency in where they’re investing. So I think all the things that. You’re looking for when you’re investing Taylor like we were talking about is being able to have something tangible, something real that you can touch, see, feel, and actually grab a hold of, that’s our main focus, man.
We, want to be transparent with what we’re doing and we want investors to have opportunities that they wouldn’t have otherwise. So that’s why we do what.
Nice. Great. And we’ve seen over the last few years, at least that I’ve been in the real estate syndication space have seen the fund model really increase in popularity, both from the fund sponsor side and also from the investor side, people generally seem to have a bit more interest in it. Can you tell us about just the w we’ll talk quickly about the structure of funds, just in case folks aren’t familiar with how a fund works as opposed to individual asset syndication?
Yeah, absolutely.
Like I said, for those who don’t know, individual assets, syndication would be where I’ve got 1, 2, 3, 4, 1 2, 3, 4 main street might be X asset type, whatever it is, self-storage mobile home community, apartment building, whatever it is. And you’re going to be looking at that deal specifically. So the investment decision comes down to putting money together, acquiring, operating, and running a strategy with a single piece of property or a single investment.
That would be the syndication side. Yes. Full disclosure, the company started back in 2006, it went through syndication. So that is something that we used to do more often. And then we transitioned into the fund side and what makes a fund difference is rather than an individual piece of property, you’re making an investment strategy and having a team to operate and carry out that strategy over a diversified portfolio of a specific type of asset or a collection of assets. And so the primary difference is rather than investing in a single property, you’re investing into a strategy that could be a collection or likely is a collection of properties.
Nice. Okay. I think so. I suppose here in this conversation, we could break out, a lot of differences between single assets, indications, and funds.
And I think one of the big things. Comes up or the first thing that comes to mind for a lot of people is okay, I’m investing in 1, 2, 3, 4 main street. That is the asset that I’m investing in. Whereas with a fund, the assets may or may not be identified yet. And then in your experience, is that a big is that a deal-breaker for investors, how to investors really build that a level of comfort with, the idea that the fund.
The fund may not have its assets identified yet, but it may have criteria.
Yeah. And that’s an important distinction right there with syndication. You’re going to know exactly the address, the property, and the asset that your capital’s going into. And so as an investor, you have a decision to make of where and how you’re investing and why you’re investing there.
So let’s maybe flesh out some of the maybe the pros and cons or differences in decision-making because each person’s going to have different criteria that they’re looking at when you’re evaluating syndication. I find that most people start with evaluating the actual deal itself, the actual property.
And so you’re going to have way more focus on that specific property. And then from there, If I like the property, I liked the asset. Then I’m going to ask the question. Do I then like the strategy? And do I believe that this person can execute that strategy? That’s really the, to summarize the process that you as an investor have to go through.
Those are your considerations. Now, when you go to the fund side, really, it’s more about number one. Do I believe in the asset type? We’re going to be investing in. Do I believe then in the operating team to carry out a specific strategy, do I agree with the strategy? Because strategy is going to be important, right?
So with certain syndications, right? What’s common in multi-family. Everybody’s more familiar with that. So we’ll look at that as the value add an idea, right? Everybody’s looked at a value add a multifamily deal, where we’re going to be buying 1, 2, 3, 4 main street. It’s X amount of units.
We’re going to be, we’re at X occupancy, we’re going to be, laying out a plan for value add. And then we’re going to plan on moving that in, 18 months, 24 months, 36 months, whatever it is, right. And this model and this strategy are about value. Add putting cash. Adding value and pulling cash out now I’ve lost my asset.
So there wasn’t asset accumulation. It was more about a dollar exchange to get more dollars, X amount of time down the road. So more of an IRR model. And then, so from a strategy perspective, With say, a fund on our side, we have funds that focus on more of a longer-term and we’ve done the shorter term value as well.
So from a strategy standpoint, we have funds to focus on asset accumulation, which means we’re looking for assets. We want to continue to operate and we want to add value to them, but then retain the actual asset. And so as an investor, you’ve got a one-line with the strategy of what’s happening. How does that strategy help me?
How does it help my overall game plan? Number two, what assets are they investing in? One, you and I are two assets that we were discussing with self-storage mobile home communities. This is an area of focus for us. It’s one that you guys like as well. It sounds like, a lot of the listeners see the value inside of that space as well.
And do I like these asset classes where we’re going to impose the strategy and do I feel like this team can actually operate and successfully do that? So obviously the track record component, but the major difference with the fund is just going to be a matter of diversification, right? So typically in funds, you’re going to be able to have diversification, not just an asset number.
So rather than having one asset that your money’s going into, you can invest into numerous assets. So diversification of actual assets. And then with that, because you have multiple assets, you typically will have multiple locations. So when I’m actually looking at it, I want to see some diversification geographically, right?
Because those different economies will have. Some diverse outcomes as I’m planning for the future to help protect my wealth. And then thirdly, you can have diversification of asset class. So sometimes it might be one to two asset classes, right? I like to see operators or I like to see groups who have a little bit more specialized focus, right?
Specialized focus is typically something I’m looking for because you know what, I’m going to trust somebody with my money, I want to know that they have the experience in those particular things to carry that out. We want them to be specialists inside of those spaces. If I wanted something different than that asset class, then I’d probably go find somebody else who specializes in that thing.
But let’s say, for instance, maybe you’re putting self-storage and mobile home communities together in a particular fund. So now you have diversification location, diversification, number of assets, and you have diversification across different asset classes as well. So the main differences are deal evaluation with a single property or a diversified portfolio.
That’s helping give you an index and theoretically, the idea would be to help hedge risk and increase your opportunity for success.
Okay. So with any investment, I think it’s important that we ask or define what is our exit strategy, and you talked about the exit strategies of buying assets and selling them off, but for passive investors and funds, what is in your opinion, the optimal, exit strategy, or let’s say the optimal question to ask about a funds exit strategy. We see folks rolling up portfolios and looking to sell them to much larger investors and just have one big exit on the backend. What do you think about that?
Single Asset Syndications vs Funds with Zach Morrow
Great question. So typically whenever I’m processing or anybody’s asking the question, exit strategy, I find that the real question they’re asking is how do I get my money back?
Totally. Yeah.
So I think for your more savvy people. They want to know. I want to be protected with my money. I want to make sure I’m going to get my money back. Like preservation of principle has to be number one. So whenever we’ll use that value add, let’s just call it a 36 month, three-year value. I have a very clear cut.
I’m going to put my money into 1, 2, 3, 4 main street. We’re going to do these construction changes. With these upgrades, I’m going to increase rents, increase occupancy, and then I’m going to invest in a market that’s growing and appreciating. Therefore within three years, I think I can sell it. And boom, I got my money back.
I made my actual return. I’m good to go. They got their money back. They know when they’re getting their money back, how they’re getting their money back. And so the positive there is having that clear-cut end. Some of the drawbacks are when you make that sale, you no longer have the asset.
And then when you make that sale, you’re going to have to pay capital gains. Obviously, we can work 10 31, but 10 31 does have its own constraints. You got to go find a new thing. To go make you money, right? So am I going to be able to place my money within that timeframe to go find something new?
And the question, whenever I’m processing exits, is I process it from a vantage point that the only reasons you would ever exit, is because you would be able to make significantly more money, that you could then go do significantly greater returns with, or because. The actual strategy or the asset was no longer going to be able to perform in the way that you would like it to perform.
So if it’s continuing to perform at the rate, I want it to perform. I probably don’t want to sell it. And if it’s not, if I can’t pull my money out, pay the taxes and then go get into a much better asset it’s going to do. Then I’m assuming much more risk by selling. So then you can take the flip side do I just want to keep my money locked up in there forever?
And the answer is a resounding no, nobody just wants to have their money tied up in the thing forever. They want to be able to access it. So this is a question that, we have to ask ourselves because when we’re looking at asset accumulation, which is, one of our primary strategies with one of our particular funds, Is how do we give investors their money back?
So we actually focus first on return of principle, rather than return on investment. And when people are talking about an exit. You can have an end game in mind of options, but things continuously change. And if you’re going to be focused on asset accumulation, you have to be in a position to get your money back upfront, and then continue to own the asset.
So we focus rather than on flipping and focus on ROI right off the beginning and just the cash to cash transaction. We focus on paying investors back their principal. So they’ve got no money in the deal. And they continue to own in the actual equity appreciation and continue to participate as a partner, even after all of their money’s paid back.
So there are different ways to do it. Maybe it’s a roll-up like you said, and that’s a strategy. Maybe it’s a value-added. That’s a strategy. And then another strategy would be, some people are just keeping their equity stuck in the deal, which, it is a strategy whether or not it’s a good one is going to be, relevant to you and your goals for us in particular when we’re focused on asset accumulation for long-term wealth, we’re focusing on.
All the investor’s money back out to them and allowing them to continue to participate for the life of the investment, and then only exiting if, and when it made sense based on the criteria that I shared earlier.
So is that primarily accomplished by adding value and then refinancing out that original capital, but still holding the properties a hundred percent?
Yep.
Okay. Okay. Interesting. So I think. A tough question that folks sometimes get in this space is, Hey, I’m a passive investor. I feel like I can go find syndicators. I feel like I can go find deals. What do I need a fund sponsor for? Or what additional benefit would I get through investing with a fund rather than, Hey, I can just go find these deals on my own.
How do you typically address that concern?
Yeah, that’s a great question. And I think that people have to decide whether or not they want to be a business owners or an investor. And it’s really just, it’s really just a matter of where you’re at in your life and really the amount of time you want to spend it.
If you want to go become an operator, obviously I’m not here to tell anybody that they can’t do it. So if you want to go and find deals and source deals, and you have the capital, you have the resources, you have the actual connections to go and find the deals you’re looking for. By all means, obviously, you assume certain risks because it all comes down to your ability to obviously accomplish the plan, find the right deals, get the right financing, and bring on the capital.
There are a lot of variables. That comes with education and experience, but obviously, people can do it. And then on the other side of things, as an investor, the distinction is as a business owner, you’re going to be the one running the thing. So you need to have the experience and all of the practical, fundamental things to accomplish.
And if you can do that, it’s a good business. Why is it a good business? Obviously, I think it’s a good business because it’s the business we’re in. That’s what we do. So I do think it’s a good business. But that’s what we do as our business. Investors are people who have their own businesses.
And then they have excess capital that they want to put to work, to have their capital working for them. And so it’s just the distinction of where you’re at and what you’re trying to accomplish. If you want to go and run a business, you can get into the business of real estate investment. Or you can become an investor in the business of real estate investment.
And so it’s just going to be different personality types different phases of life, different types of capital that are there that are making decisions differently. So if I’m really good at running my operations and I happened to run, a massive media agency do I want to then go and also run real estate deals, or do I want to take my capital and then invest it with people that specialize in the areas that I’m wanting to invest in? My own personal thing would be finding and connecting with people that are specialists in whatever field it is you’re trying to accomplish or growing. So whether you’re growing your business and you’re that guy running the media agent.
If you want to grow your media agency, you’re going to connect with specialized specialists in that field. If I want to invest in real estate then I want to connect with specialists in real estate, so on and so forth. That’s how I would dress it. I would just ask people to consider what.
What they’re hoping to accomplish. Do they want to become a business owner or do they want to become an investor?
Okay. So I suppose to maybe reframe the question a little bit is, so if somebody has a hundred thousand to 500,000 to invest in deals, they’ve decided they’re going to invest passively.
They could say. Okay, I’m going to go find a basket of single assets syndications, or I’m going to invest this in funds. I’ve already decided to go on a passive route. I would assume or presume that the way you would address that is by saying that they’re going to get a lot more diversification through a fund.
Because you’re going to be able to spread that capital out quite a bit more than they would be going after single assets indications. Would you agree with that? Disagree with that? What do you think?
Yeah, if I understand what you’re saying, I think you’ve, let’s assume as assume I’ve got 500,000, and let’s assume I want to be diversified.
I could put 500,000 in a single fund and now I know I’m going to be diversified based on that fund stress. Or I can go and shop for individual deals to try and create my own portfolio. Is that what we’re saying here? So when I’m shopping for individual deals, it comes down to ultimately, where can I place my capital confidently?
The best thing anybody can do is spend time to focus on understanding oneself. Self-awareness will give you clarity of your identity.
Because there’s so much more than just the deal. If I can’t find it. 10 deals at a given time with an operator. I trust I’m assuming new risks with every single group that I go with. So you’re going to have to do the due diligence on the group, the deal, the strategy, and be able to find all of that at a given time.
And so you have increased risk with every new person now. Whenever I go with an individual fund, I’m doing my due diligence. That one time on that group going deep and assuming I agree with everything that I can make that allocation. So there is increased work with that. Could you create additional alpha by sourcing it yourself potentially?
But part of that is then relying on. It comes down to your time. It comes down to your own expertise and going and sourcing every individual deal, rather than finding a trusted sponsor that is experienced in sourcing individual deals, because we’re doing that we’re actually sourcing those individual deals.
And then I would say you also have constraints when it comes to the ability to diversify with the amount of capital you have. If I’ve got 500,000 and I can invest into a fund that has 15 assets and I with 500 have diversification across 15 different assets. Can I get the same type of diversification by going into individual deals?
Then it comes down to how many. What’s the minimum investment across multiple different deals. I think that it’s probably pretty standard to say that with a lot of groups, you’re looking at anywhere from a heart thousand up to 250,000, for an individual investment. So we’ll go with the lower number.
Let’s say with a hundred thousand if I did a hundred thousand with my 500, the max I’d be able to get exposure to is five deals. Could I go and do it source individually? Absolutely. But. I think that when you find great partners when you find a great thing, it’s much simpler to double down on and continue with.
I personally, for that reason, like to find trusted experts, and then they become close friends and then I continue to do business with them because you trust them, you know them and you’re doing the right thing, but it does take time. Everybody has to evaluate those individual relationships for themselves and Sometimes, you got to kiss a lot of frogs, man. We’ve kissed tons of frogs. And unfortunately, you can get really far down the line and you’re like, okay, check check, check. Oh, X, dang it. We, we spend a lot of time. We thought this was going to be the one. And then Nope, that is not the one.
So I think we’ve probably all gotten down to, the ninth inning with the. With certain deals or with certain relationships. And then you’re just like, ah, man, I can’t finish it. It is what it is. We all have to go through that process, but once you find a good one, it makes it that much simpler.
Nice. This is a recent question from my end. I was, yeah. Phone call with a passive investor last night. And she’s a very experienced real estate investor who was new to the fund and syndication space and has her own portfolio that she’s been very successful with and that’s the number of questions.
And then we came to the end of the call and she asked me if there were any questions that she hadn’t asked that I thought she should have asked, which I think is a good question to ask it’s. frankly, it’s a tough question to answer. She’s very savvy, frank, I couldn’t think of anything she had addressed.
I think most of the concerns that an intelligent, experienced passive investor would have, but for your case, is there anything that comes to mind that passive investors don’t ask about frequently enough, any aspect of a fun deal, or what have you. You just think folks are maybe not aware of, maybe just don’t think to ask about it, I think you probably get the point of the question.
I actually love this question. And what I tell everyone is anytime you’re evaluating a deal or you’re looking to invest with somebody, you always have to ask, how do you make your money? That’s a good question. Yeah. I think you absolutely have to know how they’re going to make their money. And it’s very important to know how, when, where they’re making their money and you want to ensure that their incentives as the operator and the manager are aligned with yours.
And as an investor, I’m looking for my well-being to be put before you. So not just in, they say that we always do our best, we, anybody could talk about it. What did the actual, what does the contract say? When you’re looking at investment documents, you want to make sure that those documents contractually have your incentives put first.
And so an example of that might be a deal where. I have I make money before they do. And I’ll give you, I’ll give you a specific structure. So I talked about the pain return of the principal back, right? I’ve seen it to where a hundred percent of cash flow goes to the investor until the principal has been returned.
Wow. I’ve seen it with. There is a promotion or which means there’s an equity split, but not until the investors made X amount of dollars. You’ve had to get your money back plus X percent and then after that’s happened, then there’s a promotion. Then the sponsor makes money. And this isn’t about squeezing out your sponsor.
Because you want to ensure the person operating the thing is being paid well enough to be able to continue to operate the thing, not from lack, keep the lights on. Yeah. Like you need to ensure that they’re taken care of as well because you’re wanting to partner, on this thing and grow together. But contractually, you want to see that their incentive is to do everything, to pay you back first, or to make sure that you’re paid first.
We have some fixed rate things where, you know, on that fixed. The investor gets a hundred percent up to this point and the company doesn’t make any money unless there are profits above that mark. So contractually, you want to see how are they making their money and in the contract? Does that hold true to show that their incentive is to be there, to perform, and take care of me first?
And that they’re going to be there for the long haul. People talk about skin in the game, making sure is this how they’re making their money? Are they making money off of me? Are they making money with me? There’s a big difference. And I’m looking for people that are making money with me and they’re making money the way I’m making money and they’re getting paid based on their good performance.
And if they don’t have good performance, then they’re not going to get paid. So they’re incentivized to perform contractually. So always ask, how do you make your money, and then make sure that lines up in the actual investment doc.
Nice. Nice. I like that. That’s a great answer right now. We’re going to take a quick break for our sponsor.
All right, Zach, I’ve got three questions. I ask every guest on the show. Are you ready?
I hope so.
I’m sure you are. What is the best investment you’ve ever made other than your education?
For the listener, I told Taylor, and he said he was going to serve this one up to me when we got started. And he’s these are easy questions.
And I’ll just tell you this. I am like a nuanced thinker of an if-then there’s always an if-then to every question. So what’s the best investment in what way? In what, in which this and this here’s what I’ll say. I think. You said other than education. And so I would tell people that education is always going to be number one.
So I was taken off the tape. You take that off the table. So I’m really glad that you said that. So I just want to reiterate, that he takes that off the table because it is number one. And I think the next best thing you can do with your education obviously is to invest in your relationships in your network. And when we’re processing holistically, a hot stock tip a hot, real estate deal, a hot, XYZ, best investment makes for a fun story.
But the most applicable thing you can do is to continue. To gain proximity to the people that you are seeking to grow with. And so the best thing I’ve done is the same thing that I shared with you earlier is to kiss lots of frogs, find great operators, and find great partners of people that are specialists in the areas that I want to grow.
And so I’ve done that in all the areas of the business to help increase, my personal income to then help increase my investment network to then, give me the ability to invest into areas that I want to grow in that I believe in. So once and are educated about where and how you want to go, then you want to find the right people to help take you to the next level.
So the best thing you can do is find great partners. And I would say that’s the best investment that continues to pay off time and time again.
Awesome. I love that. We had the best investment. Now we go to the other side of that coin, the worst investment. What is the worst investment you ever made?
If we wanted to get real practical with that question again, I’m. It’s difficult for me to speak in absolutes, like in this way. So I have an investment where I invested X amount of dollars and I literally lost all of it. So that was a terrible investment. But at the same time, you only lose when you win when you don’t learn. So on that one, I’ll get, I can tell you where I went wrong I didn’t spend my own time on education. I had the money. Somebody said, Hey, let’s go do this. It looks like, an asymmetric return. I knew I was taking a large risk and I knew it was an all-or-nothing type of investment. So I assumed the risk. But as far as the bad investment, it was zero.
So that was a bad investment. But to expand or expound on the question, when we’re looking at bad investments, I think. I would elaborate on the first point to best investment is the bad things I’ve done is whenever I didn’t take the time to evaluate really what I was doing.
And I believe that I could do everything all by myself. And that goes back to number one is finding the right people. I’ve taken the hard road on certain things at certain times in business. And that was because I didn’t take the time to find the right people to help me get there. And I carried all the weight on my own shoulders and thought that if it was going to be, it was up to me and I couldn’t get any help.
I didn’t know how to ask for help, and that was definitely one that slowed down my growth tremendously. And whenever I think about growth, I think about investment. And so I’d add that to that one as well.
Gotcha. Sometimes the tough lessons are also the hardest. They’re the most important lessons are the hardest ones to go through my favorite question.
That leads us to my favorite question here at the end of the show, what is the most important lesson you’ve learned in business and investing.
the most important thing I’ve learned is?
Goes back to number one, obviously finding good people. But I think that the best thing anybody can do is spend time focusing. On understanding your strengths and strength and weaknesses being self-aware in that way to identify where you might be struggling, what belief systems you have that could be holding you back, and really getting clear on why you think the way you do, why you’re processing the way you do, why you act the way you do.
And I’m really getting clear on what the end result is you’re looking for. And then spending time on bridging. If you don’t take the time out, this is going back to maybe the old cliche, to sharpen your ax. It will slow you down tremendously. And so I would tell people that especially those that are hardheaded like me I am relatively hard-headed, so I used to try and force a lot of things.
And I thought the harder I worked The more it pay off, but I didn’t take the time to sharpen my ax, which ultimately made me duller and less effective. And so I would encourage everybody to take time to reflect on a regular basis. And this can be as simple as daily journaling back to what you’ve been working through processing through to come back through.
And so taking time to sharpen your ax, I think. And I would encourage everybody to do so hopefully that answers the question. I know that’s a vague statement, but ultimately when you dig into it there’s a lot more depth to it.
Yeah. Yeah. I think it makes sense. And Zach, thank you for joining us today.
Thank you for all the lessons about investing in funds versus single assets indications. If folks want to reach out, if they want to get in touch, if they want to learn more about what you’re up to, where can they track?
Yeah, absolutely. So the best way to connect is to text us, right? Everybody texts these days.
So you can call or text us at (817) 771-0615. If you just text the word info to that number, that gets you connected with us, a member of the team can connect with you and then find a good time to visit. If that’s you, do you want to get connected yet? Reach out, text us, call us and be happy to visit.
Great. Thank you once again for joining us today to everybody out there. Thank you for tuning in. If you’re enjoying the show, please leave us a rating and review on apple podcasts. Five stars. If you don’t mind, guys, I appreciate that. So much that helps other people learn about the show because that helps us rank higher in the apple podcast ecosystem.
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Single Asset Syndications vs Funds
About our Guest
Zach Morrow
Zach has worked hand in hand with Boron Capital™ and Mr. Blake Templeton for nearly 4 years now. With a strong business background, Zach owned and operated 2 of his own businesses before selling them to join the Team at Boron Capital™. Zach is a Marine Corps Veteran, with 5 years of Active Service. During his tour of Duty he was awarded the Presidential Support Badge for honorable service in a position in Direct Support of the President of the United States.
Upon entering the Marine Corps, Zach was quickly pulled aside as a select candidate for the Yankee White (YW) Program: an elite program tasked as the Marine Security Force in Direct support of the President. This elite Marine Security Force is responsible for the protection and security of Top Secret assets and facilities, Elite Federal Officials to include the President and Vice President, and the direct management of matters involving National Security. YW is regarded as one of the most honored and rare positions in the Corps.
After two and a half years of specialized training, federal screening, and investigation, Zach was cleared to begin working as a member of the YW Program. With Zach’s commitment to excellence, he quickly rose through the ranks to manage and lead a Security Team for a Top Secret Facility and Department of the White House. During his time in Washington D.C., Zach had the privilege of serving and working with two separate United States Presidents.
Above all, Zach values integrity, character, leadership, and a relentless commitment to excellence. The lessons of brotherhood and to “never leave a man behind,” drive him to provide the highest level of service and commitment to the success of every investing partner of Boron Capital™.
Episode Show Notes
Zach has worked hand-in-hand with Boron Capital™ and Mr. Blake Templeton for nearly 4 years now. With a strong business background, Zach owned and operated 2 of his own businesses before selling them to join the Team at Boron Capital™. Zach is a Marine Corps Veteran, with 5 years of Active Service. During his tour of Duty he was awarded the Presidential Support Badge for honorable service in a position in Direct Support of the President of the United States.
Above all, Zach values integrity, character, leadership, and a relentless commitment to excellence. The lessons of brotherhood and to “never leave a man behind,” drive him to provide the highest level of service and commitment to the success of every investing partner of Boron Capital™.
[00:01 – 05:29] Opening Segment
- Get to know Zach Morrow
- Invest on tangible assets and grow your wealth with Boron Capital
- Fund structures in the syndication space
[05:30 – 18:09] Single Asset Syndications vs Funds
- Different Decision-Making Processes Among Investors
- Diversifying your funds and assets
- The Optimal Funds Exit Strategy
- The Need for a Fund Sponsor
[18:10 – 25:52] Investing Success through Diversification and Partnerships
- Diversification through a fund
- How Great Partnerships Make Things Streamlined
- Questions Passive Investors Don’t Ask
[25:53 – 34:57] Closing Segment
- Quick break for our sponsors
- The first step to growing your wealth is tracking your wealth, income spending, and everything else about your finances, you can start tracking your wealth for free and get six free months of wealth advisor. Learn more about Personal Capital at www.escapingwallstreet.com
- What is the best investment you’ve ever made other than your education?
- Relationships and network
- Zach’s worst investment
- An investment where Zach lost all his invested dollars
- What is the most important lesson that you’ve learned in business and investing?
- “Finding good people.”
- “Spend time focusing on understanding your strengths and strength and weaknesses.”
Connect with Zach Morrow by texting INFO to 817-771-0615 or through Instagram and LinkedIn.
Invest passively in multiple commercial real estate assets such as apartments, self storage, medical facilities, hotels and more through https://www.passivewealthstrategy.com/crowdstreet/
Participate directly in real estate investment loans on a fractional basis. Go to www.passivewealthstrategy.com/groundfloor/ and get ready to invest on your own terms.
Join our Passive Investor Club for access to passive commercial real estate investment opportunities.
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Tweetable Quotes:
“When people are talking about an exit, yes, you can have an end game in mind of options, but things continuously changing. If you’re going to be focused on asset accumulation, you have to be in a position to get your money back upfront, and then continue to own the assets.” – Zach Morrow
“People have to decide whether or not they want to be a business owner or an investor.” – Zach Morrow
“When you find great partners, when you find a great thing, it’s much simpler to double down on and continue. – Zach Morrow
