{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"026: Syndication Law in the Multifamily World","description":"Legal fees can cost you some money. But it costs even more if you wait to get a lawyer until you are in trouble, maybe because you don\u2019t know about real estate processes and paperwork. Today, my guest is Jillian Sidoti, a syndication lawyer. A syndication is when people are brought together to own an asset, such as a property, that\u2019s brought forth by a sponsor, which provides property disclosures. Previously, Jillian was in the music industry and barely getting by. She got sick and tired of being poor, so she went back to law school. But even she couldn\u2019t stand lawyers. So, she got into the real estate industry thanks to her finance degree. While trying to find investors, she met her partner to create Crowdfunding Lawyers.&amp;nbsp; Topics on Today\u2019s Episode:  What is a syndication and why do you need one? Need to disclose everything - all pertinent information to save yourself from heartache and being sued When you make money, you will have more than one syndication - and lawyers love to follow the money Hire a securities or syndication lawyer to properly prepare documentation What happens if you do not close on a property? Will lawyer amend documents? 506(b) and 506(c) offerings to raise capital Investor qualification form and verification for accreditation No one is going to steal your ideas, instead you are building trust; always be a student and a teacher Get into the habit of vetting investors as much as they vet you Be responsible for your investors and their money, but don\u2019t put them on a pedestal Where to raise money and capital - go to galas! Be cognisant - don\u2019t talk too much or be creepy; be genuinely interested in people Do not pay more money than you need to pay to your investors  Links and Resources Mentioned:  Gene Trowbridge Crowdfunding Lawyers Jillian\u2019s email Jillian\u2019s phone number is 323-799-1342  Quotes: \u201cLegal fees can sometimes cost you some money, but it costs you more to call me later when you\u2019re getting into trouble.\u201d - Jillian Sidoti \u201cA syndication is bringing a group of people together to own an asset that\u2019s brought forth by a sponsor.\u201d - Jillian Sidoti \u201cEvery time I give one of my investors the packet...this is going to be a document. It\u2019s going to be thick. It\u2019s going to scare the living crap out of you.\u201d - Corey Peterson Don\u2019t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please  leave a review on iTunes. Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family. ","author_name":"Multifamily Legacy Podcast","author_url":"http:\/\/multifamilylegacy.libsyn.com\/website","html":"<iframe title=\"Libsyn Player\" style=\"border: none\" src=\"\/\/html5-player.libsyn.com\/embed\/episode\/id\/6517024\/height\/90\/theme\/custom\/thumbnail\/yes\/direction\/forward\/render-playlist\/no\/custom-color\/88AA3C\/\" height=\"90\" width=\"600\" scrolling=\"no\"  allowfullscreen webkitallowfullscreen mozallowfullscreen oallowfullscreen msallowfullscreen><\/iframe>","thumbnail_url":"https:\/\/assets.libsyn.com\/secure\/item\/6517024"}