Sourcing a large down payment through syndicating?
Hey all!
So my 2020 goals have been to really take my brokering skills for a thrill ride, and phase out of doing normal consumer deals.
"Path of least resistance" has led me to network with 2 dozen folks that have 10-50k to invest (which you can't buy anything around me for 40 that doesnt need another 40).
That same path is also turning into package deals, whether 3-5 or 5-10 here and there.
Current problem that I'm trying to help with. We have an 88 unit package near Indianapolis but also maybe 45 minutes from Cincinnati, sitting on I74.
Without getting much into numbers, the deal is cashflowing well with 55k in monthly rents, 5% vacancy, and allotting for average $80k a year in maintenance and capex.
The seller wants XMillion
I have buyers ready who can pull off an 80% LTC loan. My brain starts hurting when we get to discussing the 20%. Roughly $500k-1m.
Is this a crowd funding answer? Should I reach out to my network of smaller (relatively speaking) amounts that would want to be partners debt or equity or both?
Interested in what others would suggest!
