All Forum Posts by: Charles Carillo

@Skyler Holloway

I would seek the assistance of a real estate attorney that can address your specific needs. They will be able to draft the agreement for your unique situation and since they have done this a number of times, it will probably only take a couple hours. Well worth the cost in my opinion. 

@Santiago Ramiro Girado

There are a number of syndicators out there but if you are a sophisticated investor (and investing in a 506-B offering) you need to have a preexisting relationship with the syndicator before you invest. Verify that the operator offers 506-B offerings when you are speaking to operators. 

@Kevin Stiner

It sounds like your friend is offering you an amazing opportunity. For less than the cost of a "Real Estate Guru" you are learning the business from the inside. Will you need to sign on the debt? I would definitely consult your own attorney when it comes to drafting and signing the partnership/operating agreement.

@Julian Maso

$800 below market is quite the discount they are receiving if the comparables are very similar. I would verify the $1800 and verify the status of the college (is it opening? do people need to live near it?) you are referring to since we are in COVID. I would also check the sale comparables for this property. Are you getting a discount of $10K+? Make sure to factor in the renovations required to bring that unit to $1800 worth after the tenant moves out.

@Ayyub Omer

It really depends on the goals of the investors. We work with a number of foreign investors and some are looking for long-term cashflow, some are looking for short-term investments and some just need a safe place to put their money (similar to what you mentioned). I would recognize their goals before suggesting any investment strategies. One of the beauties of syndications is that the passive investor can get involved for a minimal amount of money (when compared to purchasing the property itself) and reap the benefits without needing to worry about management, financing etc.

@Account Closed

I believe the biggest change for us has been in our underwriting; especially on rentals. Since we are unable to perform evictions, you really need to verify collections and the quality of the tenants in the properties you are underwriting. A lease audit has always been a part of the purchasing process but now more than ever it matters since problem tenants cannot be removed. 

@Joshua Perez

I'm an investor in St. Pete; DM me, we should connect.

@Jordan Burnett

Hi, I would verify the syndication as a whole has adequate reserves. In this COVID era, lenders are more conservative (especially agency debt) so reserve requirements are higher. If you are investing with a more experienced group, the lender may require less reserves. This would be my focus, on the syndication itself. Remember, if hard times hit your project, the GPs can pause your distributions before taping into any reserves.

@Josephine Reimer

If you are able to narrow down the markets you are interested in and then you can start putting together a team, if that is the route you want to pursue. I have traveled the world for months at a time and if you have a solid team, it does not matter where you live.

In all honesty, it is probably easier to align yourself with a group that already has a team and really grow together with them. This can be done with joint venturing or becoming a passive investor.

@Candace Garcia

I would do interest only, paid monthly.