Multi-family investors/syndicators, what say you?
I have been thinking of investing in multi-family syndications as a way of moving away from active direct investments into more passive investments to simplify life.
I found this article in the link below very interesting.....I especially like the last line.... "We can't pencil in anything over 17 [IRR]," Rivas said. "Unless we are drinking a lot of Kool-Aid, then it's a 25."
However, most syndications i have looked at seem to promote their skill in re-positioning to raise rents and adding value...and I am seeing plenty of sponsors promoting IRRs in the 20 ballpark...Maybe the big syndicators haven't caught on yet?
What say you? is it better to wait until the risks of increasing supply and economic slowdown subside?