Multifamily Investing is a Team Sport

We used a Trinity Property Management and both of my partners have used them on their properties, so we had a familiarity with them. There's still a fairly small company, but they have assets, they have a big presence in Oklahoma, Arkansas, Kansas, Missouri. And so I'm regional provider and so they were really good to work with. The owner showed up and walked the property with us, we were doing our due diligence, we had a partner who had prior experience with them. And that was very good, because we were just coming in cold and trying to learn who these guys are all about, so that helped a lot and it helped bring in the fourth partner in because he had a lot of experience with them.

One of these kinds of underlying themes I'm seeing here is, you're just leveraging all kinds of other people's experience, from partners, to coaches, to lenders, to property managers. So obviously, one of the biggest lessons I've learned with multifamily is a team sport. Single family, you could do it on your own, of course you need your attorney and you need closing company, but when you get into multifamily, you really need partners. I can't imagine trying to get this thing done by myself without my other two or three partners on this deal, because we split it up. I took the money from the accredited investors and then I dealt the SEC compliance and dealt with our two attorneys and then my other partner dealt exclusively with the property management company and did the due diligence.

So if I were to try and take that on myself, I don't think I would've gotten a deal to him. So you've got your internal partners and you really need your external partner. You need a really good lender relationship, a couple of lenders, we're still working on developing those relationships. You need a broker relationship, a broker you can trust and rely on and good attorneys, the SEC compliance attorney is a must, if you're going to syndicate and they need a local attorney to look over your contracts and transactions. So you just want to be friends or you want me to make friendships with these guys because, you need to prove that you close or you do what you say you're gonna do. And once those two things come together, then you have an endless flow of deals. And that's what's so different about a single family, multifamily. It's that relationship with the broker you were really make or break you. 

We would love to find out more about your investment goals, text “Trident” to 38470
or schedule a call with us:
https://calendly.com/tridentmultifamily