In this episode, Joe Phillips shares his journey of venturing into the passive investing space and the valuable lessons he's learned along the way. Discover the untapped potential of syndication, how to overcome the initial hurdle of writing your first check, and the benefits of diversification and group vetting. 

Here are some power takeaways from today’s conversation:

• Navigating the passive investing space
• Getting out of your comfort zone
• Setting up guardrails for yourself 
• The amount of patience and time required to invest in syndicated deals
• How to get over the hurdle of writing your first check
• Joe’s vision for Tribevest: diversification, learning, and group vetting

Episode Highlights:

[09:12] The Untapped Potential of Syndication: A Viable Alternative Worth Exploring

Often overshadowed by other enticing investment opportunities, syndication is frequently overlooked due to misconceptions about its accessibility and complexity. However, educating individuals about this alternative is crucial in highlighting that syndication is equally feasible and potentially rewarding compared to other avenues. Despite the lack of understanding surrounding syndication, it presents a viable option that warrants exploration for those seeking an alternative path to financial growth.

[13:28] Lessons Along the Way

Get out of your comfort zone. For Joe, this meant taking steps like joining the Left Field Investors community, scheduling a call with the founders, and networking with other members. The community seeks to find those like-minded individuals. These are people that have been doing it for a while and can teach those that are newer at it.

Set guardrails. Joe set a minimum of 3 months and a maximum of 6 months to make his first investment to avoid analysis paralysis but also ensure he does proper due diligence.

Be patient. The large minimums for syndicated deals require patience and time to save up enough money for a first investment. 

[17:10] The Tribevest Approach: Getting Over the Hurdle of Writing Your First Check

Chad appreciates the Tribevest model for entering one's first investment with a lower minimum requirement. Being part of a tribe of like-minded individuals allows for shared risk and makes taking that initial step easier. This avenue provides a great opportunity for beginners who may struggle with the hurdle of writing their first check.

[18:30] Joe's Vision for Tribevest: Diversification, Learning, and Group Vetting

Joe's primary goal with Tribevest is to achieve diversification across multiple investment deals. By pooling capital with others, he gains the opportunity to spread his investments and mitigate risk. Additionally, being part of a group allows for collective vetting, ensuring thorough analysis before committing to any investment. As a beginner, Joe values the group learning experience that Tribevest offers. He believes that learning alongside experienced veterans and newer investors is invaluable in expanding his knowledge and network. 

Joe's objective is to connect with various operators and explore interesting opportunities. Through Tribevest, he can diversify his capital and establish connections with more operators, enhancing his investment journey. Joe expresses his satisfaction with the positive experience he had with Tribevest, spreading his investments and meeting operators along the way. 

Looking ahead, Joe is excited about the potential of joining clubs through the new Tribevest website. He anticipates engaging with these clubs and leveraging them as a means to invest money and diversify further. 

Resources Mentioned:

Tribevest

Rich Dad Poor Dad

The Hands Off Investor