Ashcroft Capital - Multi Family Syndicator - Texas

[Shane O'Donnell]

Hello Fellow BPer's,
I'm looking for feedback and info on "Ashcroft Capital" out of Texas. I may invest in multi family syndication deals that they do in Texas. Any feedback would be appreciated. 

[Ash Patel]

I have been an Ashcroft investor since 2016.  My cousin and I have invested in many of their subsequent deals to the tune of seven figures.  Both of us being from Jersey are quite skeptical.  Last year, we decided to visit all of our properties in the DFW area.  Joe arranged the logistics and we were able to meet with and interview all of the onsite managers and property managers.  We were also able to see renovations before, during and after.  In my opinion, the renovations are where they shine.  For roughly $5k/unit, they completely transform these apartments.  The PM company uses in house people for most of the renovations to control timelines and cost.  We even saw one property where they purchased granite slabs in bulk and fabricated them onsite to save money.  Ashcroft has PM and renovations down to a science.  We wrote a followup report for Joe with a few suggestions.  As a testament to his character, he followed up and implemented several of our suggestions.  

As far as returns, they have always hit or exceeded their pro-forma numbers. They recently sold my first investment which was slated to do 18-20% IRR. The annualized return ended up being 27%. Their projections are based on cash flow and do not take into account appreciation. Over the years, I have gotten to know Joe and his wife Colleen and they are both remarkable people. The opposite of Grant Cardone who is constantly posting pictures of his 10x jet. Joe drives a corolla. Happy to answer questions, just tag me.