12/13/2023
As I think about this journey we’ve started, it feels a little discouraging when thinking about the amount of work we’ve done but still don’t have a deal to show for it. But when I break it down, we’ve come a long way. I think it’s important to understand my end goal because that helps put progress into perspective.
What’s my personal goal?
To make a large impact in healthcare and change the way care is delivered. This is outside the scope of this forum but I will happily talk about it ad nauseam elsewhere. Healthcare is my passion, real estate is my hobby - I need both to feel fulfilled.
Why did I want to start Smayal Capital?
Because I want my family to have a great quality of life without having to make sacrifices for my ambitions. I want to create generational wealth and an income stream that fully supports my family so I can dedicate my time to improving our healthcare system and take larger risks.
So what progress have we really made?
August 2022: Kevin educated me on the concept of a syndication. I was skeptical at first, to be honest. I thought this seemed like a get-rich-quick scheme.
September 2022 - December 2022: After doing my own due diligence and learning about the ins and outs of syndication by speaking with other syndicators, I came to the conclusion that this is both legal and lucrative. I also used this time to do some introspection on how and where I want this to fit into my life and career goals.
January 2023 - May 2023: Kevin and I attempted to apply the model and began looking for deals. I focused on underwriting, and Kevin focused on capital raising. In short, we were all over the place in our approach but we had really gotten a firm understanding of the investment models, the asset types, and deal structures. This set the foundation for our strategy. We decided to join Rod Khleif’s Warrior Program to add tools to our tool belt, resources to our Rolodex, and discipline to our approach.
June 2023 - August 2023: My wife and I were blessed with baby boy. Needless to say, we had some adjustments to make in our schedules, but our progress could not slow down. I was watching a video on cost segregation on one side and feeding my son on the other side. With lack of sleep and lack of structure in my days, the only way I was going to make progress was by stacking tasks.
September 2023 - November 2023: We’re in the game now. We got very close to our first deal in October through another Warrior, however, things didn’t work out with the team. That was exciting, nerve-wracking, and frustrating at once. But we learned about how to form the right team, and during that time, and actually got to see something go from a spreadsheet to a tangible business. This gave us the validation that we were on the right track.
Now: Our time goes by speaking with potential investors, scouring online platforms for potential deals, underwriting deals, finding the markets that are strong and ones to stay away from, underwriting deals, connecting with other warriors to build our knowledge and potentially find partners for future deals, underwriting deals, connecting with brokers in various markets to learn those markets and source deals, underwriting deals, learning about the economy and debt markets, oh and underwriting deals. We feel closer than ever, but still eager for the moment a deal comes along that hits our magic numbers.
So in a nutshell, every day that we don’t have a deal, we do something to get us closer because when the right one comes up, we’re ready. That’s the way this business works, and there don't seem to be any shortcuts. Stay tuned, and learn what I learn.