All Forum Posts by: Dylan McCabe

@Account Closed You're off to a great start! Here's the key to getting the right direction- find a mentor. Go to local meetups, and start making friends. Tell them your story like you're doing here. Seek and you shall find. That's the best advice I can offer. 

@John Burns

John, I think out of all the advice, the biggest key for "building a track record" is finding a mentor. I agree with what everyone else said too - read, invest, educate yourself, etc. However, it becomes overwhelming sifting through all the information on multifamily investing when you're new to it. 

I would attend local multifamily meetups and search here in BG for a local mentor. Some are paid and others are free. I would look for a free mentorship in exchange for the value you can offer them somehow. 

I found a mentor in Dallas TX who has traded over 13,000 units. I offered to help with raising money and online marketing in exchange for mentorship. It was a great win-win situation. 

Without a mentor, it's like learning jiujitsu on your own. Yes, you can get some progress, but it will take way too long. A mentor will speed up the process significantly and ensure you don't get lost in the weeds.

Dylan McCabe

VP of Business Development

The Charis Group

www.charisg.com

@Andrey Y.

We Sponsor Multifamily deals from 100-400 units and the fee structure is very specific and transparent. It must be a win-win situation for the sponsor and the equity investor.

The Sponsors first goal is to preserve and grow the investors Capital. Yes, there are a few bad apples out there that bank off of high fees. But most of us are focused on investor returns and executing the business plan so we can do more deals.

Sponsors don’t get rich off of fees- they get rich by doing great deals, getting solid returns, and growing their investors wealth and their own on the backend of the deal.

@Chris Salerno Great question! 

-Be the best Father, Husband, and person I can be by the grace of God

-Acquire 1000 units in 2020 

-Create 1000 true fans by launching our multifamily podcast - coming soon

-Create a Youtube channel to equip investors

-Hire the right property manages for each asset we purchase this year (we self manage each asset)

Investment Info:

Large multi-family (5+ units) commercial investment investment.

Purchase price: $11,250,000

134 unit, Class C property in Arlington TX. We are in the process of closing. The goal is to reposition the asset and sell in 3-4 years, depending on market conditions.

What made you interested in investing in this type of deal?

We found an off-market deal and jumped on it.

How did you find this deal and how did you negotiate it?

Through our personal network.

How did you finance this deal?

Equity investors.

How did you add value to the deal?

Decreasing loss to lease, vacancy, and other management deficiencies. Increase cash flow by executing the business plan and raising rents.

What was the outcome?

Still in process.

@Bryan Hancock I'd love to learn more. Our present model is the typical equity investor approach. I'd love to grab lunch to learn about the pros and cons of using a fund. 

I'll PM you to check your availability. 

Hi @Raju Bajagain,

It looks like you are getting some quality help from others in the single-family home arena. I'd like to hear more about what returns you are hoping to get. We deal with multifamily assets. Let me know if that's something you would like to hear more about and we can schedule a short call. 

Best,

Dylan

@Bryan Hancock Have you worked on a multifamily fund before? If so, I'd love to know more. I'm also in the DFW Metro area. 

@Brian Burke can you point to any resources online that would offer more insight? I am researching how to build a multifamily fund. 

@Kenneth McKeown Just researching multi-family options at this point. Not married to any of them. But I know I want to grow and scale long term. Just trying to take the right steps at first. Easy right?!