All Forum Posts by: Ezra Robinson

Hey Everyone, 

Any suggestions on how to find off-market apartment deals? Also, what software is best for locating the owner's address of the property, not their LLC?

 It wouldn't be my first deal, just my first syndication deal.

 When I say I'm somewhat of a newbie, I mean I have been running numbers, helping wherever I can and shadowing one of my mentor for about 2 years now and I'm looking to close on a 1st deal without the help of my mentor(s).

Hey Everyone,

I currently have a deal that I'm looking to raise about $999K for; It's a B-class, 94% occupied apartment complex about 20 minutes from downtown Tampa. I've underwritten the deal and the numbers work for me to pay the investor a preferred return of 6%, splitting profit 80/20 (since I'm a newbie). Current rents are well below market value, so my current strategy is to go acquire the deal and raise rents. I have an exit strategy in place to cash-out refi year 4 @ a conservative 6% cap rate, splitting sale proceeds 80/20. Based upon my conservative proforma numbers, my investor(s) are looking at an IRR of 12.22% over the 4 year span and an ROI of 53.24%. I've created a deck for this investment, I'm only looking for investors that'll invest with me. My question is, does this sound like a good deal to present to potential investors? If so, where can I find investors that'll invest with a somewhat newbie?

Hey,

I was wondering how everyone built their syndication teams when they were first getting into buying apartments? Where did you find/meet them, how did you present the opportunity to them and were they people that you knew prior or people that you meet and built a relationship with after deciding to purchase apartments?