Updated over 4 years ago on . Most recent reply
Looking for Co-GP for multi-family syndication
I am a first time syndicator looking for an experienced Co-GP to partner with me on my first deal.
A little about me:
I've spent my entire career in commercial real estate (construction, property management, risk management). While working with some pretty significant real estate firm based in NYC I have spent the past 5 years learning what I ultimately want to do -Multifamily Syndications. My other related investing activities are flipping houses, managing multiple vacation rentals, I also have a couple rentals.
Last year I chose a market based on population growth, job growth and favorable business laws/tax rates relating to real estate. I studied this market (sub markets) over the past year, analyzing deals as they came through my pipeline. I have made several trips and have built a relationship with a 3rd party property management firm.
Over the past 3 years I have built a great network of other investors through the meetup platform of 800 + members. Ongoing we host a monthly mixer for real estate professionals. Through this group, I have been able to create a list of passive investors who I have built a relationship with. I know how to create a professional pitch deck, I'm decent at underwriting and creative with business plans. I'm a hard worker and have always exceeded expectations in what ever I do (can provide references). My point to all of this is, I don't need to learn things like "what's a cap rate, IRR and how to talk to property managers". I'm ready to go, I just need a partner to compliment my skill set.
The ideal person I would be looking to partner with should have a proven track record and at a place in their business where they don't want to do the leg work (sweat equity) and can provide direction and wisdom on things like structuring a deal with financing.
In short, my business plan is to acquire value add apartment deals (100 -200 units). Looking to capitalize on deals that have operational upside and creatively adding value through unit upgrades and external face lifts. I am looking forward to managing the asset, construction upgrades, etc.
If you'd like to have a conversation about this, shoot me a message and let's see if we're a fit.