First Multifamily Property..... Solo or Syndication?

[Carlos Casanueva]

I have 250k to invest...... Should I use that as a DP for a 10-12 unit property? -OR- Leverage with other investors to jump directly into something bigger like a 40-50 unit? I have property management experience as I’ve owned 14 single family rental properties for over five years now...... but no experience managing it all under one roof. Thoughts?

[Andrew Johnson]

Carlos Casanueva Do you want to lead or participate in a commerical multifamily as an LP?

Either way I’m a “roll your own” kinda guy. I like the control of owning my own. I don’t want to have to justify preventative maintenance costs to LPs, don’t want to be forced to sell based on a timeline for returns, etc. And I want all of the tax benefits 😀

But if I did invest I’d want someone to have owned or led a previous syndication with comparable magnitude. I don’t know that I’d hand my money over to someone who has owned/managed SFRs to acquire and run a 50 unit complex. It’s not rocket science but it adds risk to the deal. But that’s just me.