Hi all. So I have saved up around 130K. Thinking of using this as a downpayment to get more loan from Bank (Very Bankable due to my W2 Jobs). My dream is to be a part of Apartment Syndication team but despite of going to few REI's I have not been able to make such connections.
Anybody putting together a team in STL ?
1) I would refrain from advertising on social media how much $$ you have to invest!
2) You said you want to be a part of syndication team. How much do you know about syndications? Have you invested in RE before? Are you planning to do this f/t? What role do you want to play in syndications - silent money partner? Maybe you can JV with someone for a smaller deal.
These are just a few questions and comments to give you food for thought.
If you'd like to have a discussion around it, feel free to PM me.
@Alina Trigub thank you for your reply. Points noted. Don't want this to be a full time job, rather would like to do this on the side. Joint venture > Silent money parter would be my two choices.
Where I am having a hard time is connecting with resourceful people
@Mian Rizwan congrats on saving up all that money and choosing to use that towards an investment! I agree with @Alina Trigub in that you should refrain from mentioning on a public forum how much money you have to invest.
You mentioned that you have not been able to connect with syndicators at your local meetup, but have you thought about getting involved with a team out of state or connecting with syndicators here on BP?
It seems that you want something local, but you can connect with people outside of where you live, ask them questions, learn more about the process, etc. Feel free to PM me to let me know how I can help! Good luck!
Hi @Mian Rizwan. In January of this year my company started laying the groundwork of putting a local St. Louis team together for long term strategy. I'll have to admit they've been pretty resourceful and work at a pace that I'm overall comfortable with coming from Miami, FL.
I'm open to connect over lunch to discuss in depth.
Andre L. Shambley
@Mian Rizwan I'm sending you a message.
@Mian Rizwan congrats on saving and looking to become part of a syndication team. I would suggest going to a weekend conference or multifamily bootcamp. That would be a way to find like minded investors to meet and collaborate with.
Noble Restorations does great work in the StL market https://www.houzz.com/pro/noble-restoration/noble-restoration