Triangle Syndication or investment club
Good afternoon all,
I wanted to start a discussion to see if this A) already exists or B) anyone interested in possibly partnering up? I have been thinking about this for a while now since I met a few of my fellow investors back in April at Ruckus Pizza.
https://www.biggerpockets.com/forums/521/topics/55...
I remember chatting with @Henri Meli about local deals and then he pulled up an alert on his phone on a Durham duplex(probably the same alert most of us received that day). And I had the epiphany, most of us at the table would be interested in the same house. And as much fun competition is at times, I knew that was not the best way to get ahead(which is really what most of us want).
We can all agreed that the Triangle is hot right now and that is will be at least for the next few years. So I am looking for a way to incorporate more like minded investors and possibly find a larger deal or syndication or whatever. I keep thinking back to one of the phrases on the BP podcasts, Its better to have 50% of something vs 100% of nothing...
I have been fortunate over the years to get passive income from having a rental townhouse/condo/duplex on the side. And I would fully admit they were all great sources of secondary income. One of the things that keeps echoing from BP is that that method is harder to scale. And I would rather have more doors, so if my one tenant moves out there are others to cover the bills.
I know if I have 100K to invest, with commercial lending I can go after something in the 400K range. But as we all know, they are no Multi-Family's in that price range here. But if there are 10 of us with 100K each = 1M, then that is the potential of 4M for an investment.
So this post was really reaching out to start a discussion on what is out there locally and who else may be interested.
Thanks for you time,
Chris