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01. This Book
02. Syndicate Boom
03. Get Information
04. Syndicator
05. How much?
06. Depreciation
07. Depreciation Applied
08. Declining Balance
09. Straight Line
10. Paying Taxes
11. Pay Mortgage
12. Income Taxes
13. Paper Loss
14. Tax Shelter
15. Rent?
16. Syndicator Units
17. Wear + Tear
18. Lease-Hold
19. Building
20. Comparison
21. Specialized Properties
22. Growth
23. Leverage
24. Share Growth
25. Why + How
26. Syndicate Agreement
27. Net Lease
28. Long-term Lease
29. No Guarantee
30. Inflation Clauses
31. "Inflation Clause" Works
32. Inflation Clause?
33. Mortgage Due
34. Interest Rates
35. Short Term Mortgage
36. Good Mortgages
37. Refinancing
38. Refinancing Clauses
39. Share of Mortgage
40. Share of Profit
41. Purchase Options
42. How Purchase Options
43. Stunt the Growth
44. "Subordination"
45. Long Term Lease
46. Business Organizations
47. Syndicate Debts?
48. Management
49. Your Consent?
50. Sell Your Unit
51. Investment Trust?
52. Business Syndicate
53. Multiple Properties
54. Dream or Reality?
55. Syndicator's Background
56. Value of Guarantees
57. Look for Yourself
58. Conclusion
Resources
55. Syndicator's Background and Reputation
The property which the syndicate will acquire is the key to its success. Therefore, we gave you the yardsticks of value and pointed out the factors which affect the value of your investment. However, you must not forget one important element, the human one.
Who is the syndicator? If someone else is going to manage or operate the property, who is he? Even though the property and the projected income appear satisfactory, you should know something about the people to whom you entrust your funds. Their personal integrity and ability are just as important to the success of the venture as the potential of the property. The real estate which the syndicate buys may have been in existence for some time and may be an investment which has proven its value. But the new managers have to show what they can do with it.
We cannot conceive of a brochure which does not contain some information about the syndicators. In many states, such information is required by law. For instance, under New York laws, the brochure must state the "names, addresses, and business background of the principals involved." That information is sometimes very sketchy. You may have never heard of these people. Yet they may be well known in the field. Someone in real estate circles will know who they are. We suggest that you try to get some information about them through your bank or other connections.
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