All Forum Posts by: Account Closed

@Ray Alvarez

Lot of good advice already given here. Love that you enjoy the day job and are getting the side hustle. If you're not necessarily trying to replace your job or create a second one, doing something turnkey or passively investing in syndications are great ways to leverage that situation. Only thing I'd add to all the other great advice here is to get out to events, meetups, and conferences and talk to other investors to help figure out what will be best for you. 

@Juan Pablo Murillo

Hi Juan - Lot of great responses already made here. 

I would add just a couple things. As different people have answered, some people jump right to putting together a syndication and others build up. I personally started with a couple passive investments in others deals first and think that's a great way to go prior to doing own syndication since you get to see how things work and deal from inside out. The other thing to think about is if your goal is to ultimately do a larger syndication, you don't necessarily have to do all facets on your own. If you develop the right partners, you can get started doing specific aspects that align with your strengths or where you can bring value to the team...maybe that's focusing on money raising, just being able to provide a large balance sheet, or just deal finding. 

Definitely start building your investor network and connections along the way so that ultimately when you get to the point of raising funds, you will have already built the list so to speak. Oleg made some good suggestions.

Best of luck.

Hi @Gregory L. - Congrats on your success...everyone including myself is ultra jealous on how early you're getting started! Lot of good recommendations...obviously education is big. If you're interested in getting in bigger multifamily, I'd definitely recommend checking out multifamily focused conferences, meetups, etc in that space since much of it is finding partners, making connections, etc. 

@Shoulk Roup

Hi Shoulk - I know a couple multifamily investors in Grand Rapids I’d be happy to introduce you to. They run a local meetup there as well.

@Chirag Shah 

I'll second the recommendation of Think Multifamily, their next event is end of March in Dallas. Full Disclosure, I'm part of their group and love the founders Mark and Tamiel, but I can honestly say that going to this event and meeting them has helped me. 

@Gwyeth Smith

@Gwyeth Smith @Nicholas Ameluxen

I'm also planning on being at the Best Ever Conference, my first time. Would love to meet you guys! 

@Anthony Cecena

Hey Anthony - Just another option out there for you to check oit...Think Multifamily based in DFW is a group focused on multifamily apartment investing and syndication. There's a weekend training event in Dallas, TX on March 30-31 if you're interested. Full Disclosure, I'm part of the group and love the founders. I can honestly say that going to this event and meeting the founders has helped me. 

William Tindol Hi William, Don’t know what size/type of properties you’re looking at, but here’s some generic questions I like from template: - How many units do they manage by Class A, B, C? - What is the smallest and largest property they manage? - Do they specialize in a certain class, size, etc type of property? - Do they know the subject property you’re looking at? - Ask them how they think they are different than their competitors. - Do they have their own construction crew? - If you have them manage rehab project, how much do they charge? -How many employees do they have?- - Ask them for a sample report they provide with their monthly reporting. - Ask then for a sample management agreement. Hope that helps.

Nathan Adair Hey Nathan, try connecting with Tamiel Kenney and Mark Kenney. They own a few hundred units in Memphis between different apt complexes and could give you great insight into the multifamily market there.

That is great advice Jonathan Twombly, thank you. Unfortunately I've learned this the hard way first hand as I’ve come to realize I had too many people in my network and list from REI meetings that are looking to do their own deal...which doesn’t help me when raising funds.

Torey Chumbley Single family is a great place to start, get your feet wet, etc. Definitely great too to not risk as much capital when starting and get proof of concept. I personally moved to larger multifamily after starting with SFH rentals because of the ability to scale and go quicker. For me, it was a little daunting knowing I’d have to build the large portfolio of houses and get to the scale needed. Additionally, being able to put more capital to work. As usual, it depends on goals, situation, etc but looking back at it, starting in SFH was good for me but I wish I moved to MFH quicker.