All Forum Posts by: Chad Cudworth

Yep, did the boot camp.  Good learning, excellent presentation, and worth attending to get educated and meet some like minded folks.  There is additional coaching/mentor programs offered, but didn't seem like a hard sell.  Yet, there is the subtle pitch throughout the course and a harder pitch at end of each day.  I found the boot camp valuable and shared the cost with another person.  Good luck.

Hi, I'm in discussions with the seller's broker on putting together a master lease option.  I've not executing one before and could use some help.

Thx.

Chad

Multifamily property size 50-250 units, emerging markets (Buyers II, Sellers I).

From what I understand, the sponsor program is supposed to get you access to PM investors that have the net worth and real estate resume to get financing for non-recourse agency loans. The deal would need to be syndicated with ~25-30% equity to managers (myself & sponsor) + the acquisition fee ~3-5%, the rest to limited partners (class B members). Of course the allocation of cashflow, equity, and acquisition fee I would adjust to produce a strong ROI or IRR to Limited Partners and Managers. The managers (myself & sponsor) would split the ~25-30% equity 50/50.

I'm hungry and getting out there to find the deals. Understandably the 8% cap is a serious challenge and I've found deals ~6.5-7% caps and yield ~18-19% IRR with 5yr holds, according to my "conservative" underwriting. Biggest hurtle on my end is sourcing private money, that's why this program is intriguing.

My background is FP&A and Operations and my strengths are the financials and tenacious at sourcing the deal.  Weakness is sourcing private money.  

Open to further advise or partnering with someone strong where I'm not.

Yep, they are charging $5k for 12mos.  Deals must fit within ~8% cap, ~12% coc, 1.60 dcr.  

Hello, has anyone had success with Dave Lindahl's sponsorship program that guarantees a sponsor for 12mos ?    I going to jump into  the program.  I'd love to hear your experience, good or bad.  It appears the reward out ways the risk for someone who gets after it and finds the deals that pencil out.  Please let me know.

Best,

Chad

When underwriting a deal to determine acquisition costs, can someone provide the calculations for determining the first year insurance & tax reserve, and the operating reserves?  These are different then cap ex and hoping someone can help me understand the calculations.

Thx.

Anyone point me in the direction of 3-5 multi-family property managers in the Ohio area, Cleveland, Cincinnati, Columbus?  Searching for a firm with integrity that will work with 20-200 units at an affordable rate.  Also, if you wouldn't mind sharing a little bit of your experience, that would be great!  Thank you.