All Forum Posts by: Brock Mogensen

Great place to start is reading Best Ever Apartment Syndication by Joe Fairless (textbook for syndication). 

Agree with @Todd Dexheimer

If you don't want to go through 1031 process/intricacies that come with it - you can invest in a syndication deal as an LP (passive) and make sure you're getting into a deal that will be doing a cost segregation study.

Investing in a syndication as an LP could be an option.  This would allow you to invest in any market, while remaining completely passive. That being said, if your goal is to be active in your investment. Then you likely want to start with defining a market, find a great PM, connect with all the top brokers, and expect to look at 100 deals to find one that works. 

For a syndication you generally need an Operating Agreement, Subscription Agreement, and Private Placement Memorandum.  Talk to an attorney familiar with these docs/structure and they will be able to advise what you need to do. 

I invest in the Milwaukee area. Not too familiar with the Hampton Heights area. Happy to answer any questions/make any intros if you want to send me a DM.

I'll send you a DM 

Biggest things in the NNN game are leases and cap-ex.

You want long term leases with strong tenants.

Budget/look out for any major structural issues that are not covered by NNN. Roof, parking lot, mechanicals, etc.

Factor in conservative vacancy periods. Leasing NNN spaces takes much more time (and $) compared to apartments. And get a great leasing broker to help you find tenants.

Investing in a syndication as an LP

Syndication can be great way to scale by leveraging OPM.

With your experience in RE already the transition into syndication would be very feasible.

This is sounding like a GP/LP structure.

7% Cash on Cash then to a 70(LP)/30(GP) split on profits is a common structure

On the exit upside you could also do 70/30 split on the profits (after return of capital)