ABOUT LANCE PEDERSON
Lance Pederson is the Founder of Verivest and the host of The Real estate Risk Report podcast. He is also the Principal of Fairway America, a private equity real estate firm based in Portland. He has worked in the middle-market real estate space for more than 13 years and has helped over 180 entrepreneurs' architects pooled investment funds. He’s passionate about the power of transparency in building trust between sponsors and investors.
THIS TOPIC IN A NUTSHELL:
[01:25] His career background
[03:30] How Verivest started
[05:21] Verivest as Fund managers
[06:10] Mutual fund structure
[09:13] Advisory consulting practice
[12:00] Work they do at the back end
[12:55] Measuring engagements with Investors
[14:45] How to structure Syndication deals
[15:53] Removing friction between Sponsors and Investors
[16:58] Verifying track record as middlemen for both parties
[19:35] Tracking post-investments for deals
[21:13] Pros and cons of Single-asset syndication vs. Fund-type space
[24:25] Benefits of GP co-invest fund
[26:10] Advice to new Syndicators
[29:42] Track record that you need to move up the ladder
[31:50] Having a robust pipeline
[33:40] Leveraging your own team
[34:40] Having a good analyst on the team
[39:11] Advice to his 25-year-old self
[40:13] His First Entrepreneurial endeavor
[41:06] Formal and Informal training that shaped his journey
[42:02] The Deal that got away
[44:05] How to reach out to Lance
KEY QUOTES:
[10:42] All the stuff that most real estate guys hate, we try to create services to do those things so they can just focus on acquisitions and asset management and fundraising at the highest level.
[18:35] What I see in the industry is that it’s stopping people from participating because they don’t know who to trust. So, to me, how can we solve that problem? Well, we have to be that third-party fund administrator, we have to be as independent as we can be. I’m not the investor and I’m not the guy who's taking the money. We have to make sure that they are doing what they’re supposed to do and we offer a track record verification service.
[27:35] If you obsess with the metrics or the economics on the deals or the only thing that how investors make decisions, you’re sunk, right now. What you need to be more focused on is your narrative, what’s your story? What makes you different? How do you look for deals and how do you get that deal?
[28:03] As much as I’d like people to be more analytical about it, all investors are still making emotional decisions. So, I’m saying get your story down and have them fall in love with you before they even find out what the damn terms are. But when they do find out the terms, send a signal to them that says you’re being intellectually honest with yourself about the realities. Show them that you’re willing to be aggressive and prove yourself.
SUMMARY OF BUSINESS
Verivest is a first-of-its-kind platform designed to bring transparency and trust to middle- market real estate investing. Sponsors are verified through background due diligence and portfolio monitoring, allowing investors to find, assess, choose, and monitor the right deals for their investment goals more confidently.
ABOUT THE WESTSIDE INVESTORS NETWORK
The Westside Investors Network, is your community for investing knowledge for growth. For real estate professionals by real estate professionals. This show is focused on the next step in your career... investing, for those starting with nothing to multifamily syndication.
The Westside Investors Network strives to bring knowledge and education to the real estate professional that is seeking to gain more freedom in their life. The host's AJ and Chris Shepard, are committed to sharing the wealth of knowledge that they have gained throughout the years to allow others the opportunity to learn and grow in their investing. They own Uptown Properties, a successful Property Management and Brokerage Company. If you are interested in Property Management in the Portland Metro or Bend Metro Areas, please visit www.uptownpm.com. If you are interested in investing in multifamily syndication, please visit www.uptownsyndication.com.
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YOU MAY CONTACT LANCE PEDERSON VIA:
Email: lance@verivest.com
Website: https://verivest.com/company
LinkedIn: @lancepederson, @verivest, @real-estate-risk-report
Social media:
Facebook: @Verivest @realestateriskreport
Instagram @Verivestverified @Realestateriskreport
Twitter: @Verivest
CONNECT WITH US
For more information about investing with AJ and Chris:
· Uptown Syndication |
