Hello BP, i'm interested in doing a syndicate deal. My first idea is to get a sponsor because i do not have the credit, history & etc, for the bank loan for the maximum LTV and will be under a LLC which will have a number of different investors.
My second idea is to get one of the LLC's Partner (Maybe different from the sponsor) to refinance getting the maximum LTV for the purpose of cash-out to paid back the investors and used the extra for purchasing more properties.
Is this plan possible and realistic?
Yes it is possible. It is realistic? That depends on you and your experience. Why would someone sponsor your deal? They are taking all the risk, what do you bring to the table? Do you have experience in real estate? Do you have experience with syndications and this size of deal?
You said you want to refinance out at max LTV. Why do you think that you will be able to get more money out. Do you expect the value to go up? If you think you are going to get more money out just because it is a refinance and you can get a higher LTV I suspect you are wrong.
Can you do this - Yes. But I suspect you are going to find it harder than you think.