Looking to Co-GP and bring underwriting & transition experience to the table

Mel White · 2026-10-02T21:06:36-07:00

I’m looking to connect with active multifamily sponsors who may have room for a hands-on co-GP on the right deal.My background is in multifamily operations, brokerage, underwriting, and asset-level financial analysis. I’m most interested in smaller and midsize apartment deals where I can contribute beyond just capital raising, including deal sourcing, underwriting, diligence, business-plan review, financial reporting, and ongoing ownership-level oversight.I’m not looking to jump into a title-only GP role or raise money for someone else’s deal. I’d rather partner with an experienced sponsor where responsibilities are clearly divided and I can earn into the GP through actual work and execution.My strongest markets are Washington and the Pacific Northwest, but I’m open to deals elsewhere if the operator and structure make sense.If you’re actively acquiring multifamily and could use someone on the sponsor side who understands operations and underwriting, I’d be interested in comparing buy boxes and seeing whether there’s a fit.

Vaibhav PuranikPro Member

Member since 2025 · 112 posts · 59 votes

1mo

Hi Mel, I am interested in talking with you. A zoom would be great. I will DM you.

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Stuart UdisPro Member

Attorney · Philadelphia · Member since 2018 · 2k+ posts · 3k+ votes

4w

Why is the co-gp title so important? Why can't you merely be an employee offering your skill set?

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Don KonipolBusiness Member
Investor · The Woodlands TX / Avon, CT · Member since 2009 · 6k+ posts · 10k+ votes
4w
People seem to think that CO - GP is another “step” towards becoming a syndicator. Employee - Co GP - GP (Syndicator) . I don’t know, perhaps it’s right, or maybe it’s only a title.
Also, the reasoning seems to be that if you have the TITLE of CO GP, you can use the syndication on your “resume” and assume the status of “experienced syndicator” as well as use the results on your track record. Which is another reason for potential LPs to be extra diligent in performing a due diligence analysis of the experience level of any syndicator and not take anything at face value.
Quite frankly, although I am a syndicator (I’ve done over 150 syndications approaching $400 million in cash raised) as well as a fund manager, I always recommend that investors be extra, extra cautious. If an investor isn’t willing to do a DEEP DIVE into the syndicator, the property, the management, the operations, etc and wants to invest passively, REITs offer a far less risky route.
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Stuart UdisPro Member
Attorney · Philadelphia · Member since 2018 · 2k+ posts · 3k+ votes
4w
That’s exactly the point I was getting at. The title is wrongly used more times than not. Climbing the ladder as an employee to the point where you’re in an upper managerial role is sufficient and credible to begin raising capital but someone with far less expertise and experience can become a co-GP and use that title to demonstrate experience that doesn’t exist. It’s the exact system taught in the education syndication space.
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Mel White
OP
Specialist · Redmond, WA · Member since 2026 · 22 posts · 6 votes
4w
It's just a title I used to give a sense of what the goal was. I currently work as an employee on the institutional side as well as independent consultant. I'm no stranger to what the process looks and feels like but I think it's a different story wanting to be involved with a smaller operation.
Choosing the words that will ilicit the right response from an open crowd like BP is more of choosing the crowd you wish to attract. My goal is to talk with smaller operators to understand more of the "bootstrap" approach.
The end goal here is to understand every piece of the puzzle whole heartedly. I do agree that there are people getting into it without any supervisory experience and it's risky.
I don't want to continue to work for someone else because I believe in the work I have done and can do.
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Jamie Parker
Real Estate Investor · Memphis, TN · Member since 2016 · 440 posts · 145 votes
1w
Quote from @Stuart Udis:
Why is the co-gp title so important? Why can't you merely be an employee offering your skill set?

I recently connected with a Sponsor/GP. The role that would help at this time is capital raise. If I can bring 250k in capital, I would be a CO - GP. The Way I see it is being in the board room but not at the table. Im sitting in a chair in the corner of the room or behind people siting at the table. CO - GP is a function of the sponsorship. One of the roles required to take down the deal.

I sat in on an offering presentation with 5 separate holding companies raising capital from LPs. While there were 5 participants on the General Partner side of the deal, the LP side of the deal was a JV Partner Entity having members. A different set up not requiring Syndication. The asset was under 50 doors. That set up was unique and was appropriate, more so, because of the the deal size.

In the same way that the smaller deal had 5 separate entities that worked together to create the deal, CO - GP isnt just a title but a function of the sponsorship. If you can fill a role then you can be a "CO" on the GP Side.

@Mel White On the other hand, I do not see the GP role as a series of graduated steps. If you can put the team together and find the deal, Close and you are the GP. Being able to walk through a deal as a team member can be an advantage. I have spoke with multiples operators where the 1st deal was a disaster but survivable and they moved on to more deals afterwards. So I would offer, CO - GP can be helpful but not necessary.
Underwriting is part of the Acquistions team. I have analyzed over $75m in offerings over the past 6 months. When I presented a real opportunity to a potential GP/LP/Sponsor, thats when i realized underwriting, in and of itself, doesn't mean that much. If that underwriting translates into a deal, then you are on to something.
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Chris SeveneyBusiness Member

Moderator

Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes

4w

This sounds more like an employer employee relationship than a co-gp type of deal. I do not know any GP who does not already have what you bring to the table.

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Evan Polaski

Cincinnati, OH · Member since 2020 · 4k+ posts · 3k+ votes

3w

@Mel White based on my 20 second google search, it looks like you have the operations knowledge and background, which is where most syndicators come up very short. The problem you will likely face is: syndication, especially smaller/start-up type syndications are almost entirely a capital raising/marketing game. And many of the people that are good at that also tend to downplay how nuanced operations really is.

Additionally, many will say they care until it comes into splitting their money with you. They will hire the PM that offers the lowest fee, assuming the PM will do what they say they will, or care at all (they won't) and then wonder why property is losing money when the underwriting said they should be paying investors 8% per year day one.

Unfortunately, this isn't a you problem, but if you are looking to get into ownership, I would be focusing on finding capital raisers first. Honestly, if you know how to underwrite and operate a deal, you don't need to be "co-GP". You need to be the GP and backfill your bench with the guys from the many, many masterminds that tell people the "easiest way to get into ownership is through capital raising". They will likely want 40% of the ownership, but it gives you controlling interest. And from there, you may need a KP to co-sign a loan, assuming you are buying a deal worth millions and don't have a multi-million net worth and hundreds of thousands in liquid assets to qualify.

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Mel White
OP
Specialist · Redmond, WA · Member since 2026 · 22 posts · 6 votes
3w
@Evan Polaski I really appreciate your input here. I think that's a valuable take. Capital raising is a skill set I'm still honing, for sure. I'll pivot my search. Thank you!
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Ashish AcharyaBusiness Member

CPA, CFP®, PFS · Sarasota, FL · Member since 2017 · 5k+ posts · 3k+ votes

1w

Mel, your approach makes a lot of sense, especially wanting to earn into the GP through actual underwriting, operations, and execution rather than simply being given a title.

One thing I'd make sure is clearly defined before entering a deal is how that GP interest is actually being earned and structured. There can be a meaningful difference between being paid for the work, receiving a profit interest, or receiving an actual ownership interest in the partnership, both economically and from a tax standpoint.

I'd also want the operating agreement to be very clear on responsibilities, distributions, profit/loss allocations, and what happens if someone contributes more time or capital than originally expected.

Your underwriting and transition experience sounds like a strong complement to an experienced sponsor.

Feel free to DM me, I’d be happy to send over a few resources that might be helpful.

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Looking to Co-GP and bring underwriting & transition experience to the table

Looking to Co-GP and bring underwriting & transition experience to the table

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