Listen to the Podcast Here: Austin, Texas has become a boomtown for investors. To say there is a lot of opportunity would be an understatement. This week’s guest Evan Kirkpatrick explains the type of nuts and bolts skills that you need to do syndication deals, run a real estate business, and gives some closing advice to the audience about finding where you can fit in when it comes to real estate.Tune into this week’s episode where Evan Kirkpatrick discusses his background as a CPA and how helps real estate investors with high net worth to small business owners just getting started with their tax strategies. Questions about our podcast? Guest suggestions or requests? Reach out to our team directly. Free LLCs From Royal Legal Solutions: Have You Claimed YOURS? You’re here to become the best investor. And the best never own property in their own names. Secure your property inside an LLC setup in Wyoming at no cost while this offer lasts! Click Here to Learn More! Description Useful Resources Guest Bio [00:00:40] – Quick Pitch Free LLC and Tax Package Pitch [00:01:07 ] – Introduction to Evan Kirkpatrick [00:01:57 ] – Evan Kirkpatrick discusses how long he has been a CPA. Discusses his background he has in helping real estate investors in Austin, TX. from high net worth to small business owners with their tax strategies. Austin is the place for smart business. It has become a boomtown in every way including investors. There is a lot of opportunity. [00:03:21] Evan’s primary goal is to inform small business owners what they should be doing from a tax perspective and from a financial perspective to achieve the big goals we all have. He wants to make sure all of the planning is helping move you to your goal and nothing is in the way to hinder those goals. [00:04:40] –He discusses his experience with syndication and all of his real estate experience in his career beginning with a story about his raw land deals. From buy and hold to multi family to commercial deals. The main thing to remember when getting into these deals is “there has to be potential. The deals are ROI driven. We have to be able to sell it five years from now for a big chunk more than what we paid for it. There has to be a big upside idea at play with a syndication deal. In the smaller deals you can buy purely on cash flow. If you are in small real estate deals they are all wanting to get into multi-family or commercial or storage centers. The way those deals are structured are for the big upside play at the core. “It’s a not a singles and doubles game. It’s a homerun game.” [00:08:33] – Evan runs down the big multifamily deal and the way they are structured. The money people get a guaranteed rate of return first. You might get some fees for running the deal but that is just enough to run the operational expenses. You won’t be purchasing the property for a $1 and selling it for $1.05. You are going to buy the property for $1 and selling it for $3. Reasons? It’s badly mismanaged. It’s in bad shape. There’s issues with the property. You have to bring some unique value to the table. [00:11:40] – He explains the type of nuts and bolts skills that you need to do syndication deals and run a real estate business. To be successful at syndication you really need to have the following skills or have a team with the following skills: Rehabbing Financing Finding Deals Building a team [00:17:49] – Evan gives some closing advice to the audience about finding where you can fit in when it comes to real estate. Do what you’re good at. Find your core skill. t’s easy to listen to people that share their knowledge. It’s easy to say, “I can do that.” “Successful investors know what core skills they have that separate them from their peers.” Evan explains his strength is understanding numbers and how to relate those numbers to people’s investments. [00:20:33] – Closing comments. Scott goes over the tax package in more detail. Listener Resources Thank you for joining us on today’s episode of the Real Estate Nerds Podcast. For even more free educational resources on real estate investing and the law, check out the Royal Legal Solutions blog. You can also reach our host Scott Smith directly, connect with him on LinkedIn, subscribe to the Royal Legal Solutions YouTube channel, or join our investor community on Facebook. You can also text ‘royal’ to ‘474747’ …to get a link to register for webinars and download e-books or recorded sessions. Don’t forget to subscribe to stay up to date and have the most current episodes of the Real Estate Nerds Podcast directly in your listening library. Every subscription helps us create new, custom content for you. What did you think of today’s episode? What would you like to hear more about in the future? Leave your thoughts and questions in the comments section below, or leave us a review in the iTunes store. We love hearing your feedback, so fire away. Join us again next time for another fascinating conversation. Thanks for listening and joining us on our journey to become better investors! Started as Guy E. Olson, CPA and operated by Guy for over 30years, Kirkpatrick CPA PLLC provides quality tax and accounting services to individuals and small business throughout Central Texas and beyond. Our office brings a wide body of expertise, while providing personal attention to all of our clients.