All Forum Posts by: Annie Dickerson

Totally echo all the positive reviews. I especially love the ability to model multiple scenarios using the Syndicated Deal Analyzer. I typically start with the numbers provided in the offer memorandum and any marketing materials, then tweak the numbers to try different scenarios. I will often do a worst case scenario (high vacancy, unexpected capital expenditures, world falling apart, etc.), as well as a more realistic version. This is a differentiator from a lot of other tools out there, that only allow you to model one scenario. 

You can then choose a scenario and model changes over time in the P&L tab. There are also lots of variables you can tweak for loan options, returns, and acquisition costs. Overall, this tool is very powerful and very customizable to fit any situation, whether you're syndicating or not. 

Hi @Vaden Hoffman, I highly recommend Rocket City PM. They currently manage all our small multifamily units in Huntsville, and they’re awesome. Terrific people, very responsive, and deep knowledge of the Huntsville area. 

We run all our potential deals by them, to make sure they’re in good neighborhoods, and to see what the potential rents could be. They’re also a good source of off market deals. 

In my experience, I’ve found that investors are first and foremost concerned about capital preservation. They can’t even begin to process the profits until you can assure them that their money will be safe and go over the timeline of the investment so they know when they’ll get their capital back. 

There’s definitely a good amount of work that should go into building the relationship and trust as well. Investors want to invest with people they like, know, and trust, not just in seemingly great deals with stellar returns. Track record definitely plays into this building of trust, as previously mentioned. I’ve also had great success sharing sample deal packages, as @Scott Skinger mentions. 

I find that the best place to start is with friends and family. I find that by sharing my enthusiasm about a deal and the story around the deal with friends and family, they tend to become advocates and help refer others they know who might be interested. 

I don’t know how much you’re raising, but I would recommend keeping the investment minimum to $50k+, to minimize the number of investors needed. 

Figure out exactly how much you need to raise, and see if the investors you talked to already would like to reserve a certain amount. That will help you determine how much you need to raise. And always raise around 25% more than you need, in case people change their minds. Good luck!

Hey @Jay Helms, I’ve been investing in multi-family in Huntsville for a few months now and am loving the market. 

I highly recommend Andy Agee and his team. They’re with SVN. Tons of experience with multi-family, great knowledge of the area, and friendly too. Happy to make an introduction if you’d like. 

@Kashyap Trivedi Yes! I like Clint Orr at Nationwide. I'll message you his details.

Hey @Josh Carlegis, what size is the complex? For larger complexes (50+), check out Providian Real Estate Management, one of the top PM companies in northern AL. Brody Black is the founder/owner and has tons of experience managing properties large and small, all over the country, section 8, evictions, he's seen everything. He might do less than 50 units, though I know he prefers larger.

@Kashyap Trivedi Are you looking at single family or multi-family? For single family, I think 10% sounds about right. You might be able to negotiate 9 or 8% once you have a few properties. I use Rocket City PM in Huntsville. They're great at what they do and can also help you find deals too. 

Good luck, @Johnny Dee! Rocket City will get you back in tip top shape in no time. :)

Hey @Johnny Dee, so sorry to hear you're having a tough time. I'm using Rocket City PM in Huntsville and love them so far. Super responsive, friendly, great service. Good luck!

Hi @Maggie B., my husband and I used to house hack in DC and loved it (we've since moved from the area). We usually lived in the upstairs unit while renting out the basement. 

I totally hear you on the importance of being cautious in DC. When we were looking for tenants, we had pretty good luck through holding a few open houses. We found that meeting people in person was an important part of the screening process. We found some of our best tenants through these open houses. We offered rental applications at the open houses and screened further from there. But that way, when we did the background checks, we had some context of having met them in person first.

You mentioned you're planning on renting the rooms individually, but you might also open it up to someone wanting to rent all 4 bedrooms together, either a family or a group of friends, just to see if you get any interest. This can work in your favor, as they won't be 4 strangers living together (and potentially creating roommate issues).