Partnership.... goal for now to acquire a 50-100+ unit building.

[Igor Gajic]

Hi guys, what would you guys suggest if you were in my shoes .. I need some help !!! I and my fiancé's brother would like to partner up and start seriously investing in real estate .. our goal for now is to get a 50- 100+ unit building and than build from there .. even if it is out of state. A little back ground: Fiancé's brother: is 21 years old works a full time job.. has 4 multi family properties and (2 of them being free and clear ) very smart kid and is a work horse ! Me: i also have a full time job, fairly new to real estate, I have 2 multi family properties with pretty awesome cash flow and I'm the process of getting my 3rd one which I am getting a good deal on and it's expected to have great cash flow as well. Eventually I would love to some day quit my job and invest full time. Both of us have excellent credit (mine in 750+, his is 790+) As of now we have $150,000+ cash available + equity. What would you guys do .. what would be process ... use our equity + our cash to invest in larger number of units buildings ? Get private loans ? How do we find deals out of state ? Thank you in advance!

[Alina Trigub]

@Igor Gajic

My suggestion is in addition to learnings as @Kim Lisa Taylor suggests, I'd look into finding a sponsor (aka syndicator). This is someone who already has apartment buildings syndication experience under his/her belts, has done a number of them, and has worked with attorneys as Lisa. Btw, I think Lisa is a great resource/contact for you as she has a significant syndication experience.  We spoke at length at the last Dave Lindahl's event and I can certainly say that she is very knowledgeable in this field. 

The best way to lock a contract with a sponsor is by locating a good deal first and then presenting it to a syndicator to see if they are interested in joining. 

If you have any other questions, feel free to PM me.