All Forum Posts by: Huy N.

wow..amazing information is being debate there. Thanks guys

Thanks @Bill Gulley 

 Yea i will double check stuff with both cpa and attorney.

@Chris Winterhalter and @Roy N. 

Thank you sooo much! i feel alot better about going forward now. I will keep you guys posted on the progress if the deal go through!

hi @Chris Winterhalter 

Thanks for the reply! I am a bit more clear on this subject now. I won't call this a syndication deal anymore. I see it's more like a partnerships with multiple members now.

Yes, i am putting my own money into the deal as i am the investor #1. If the downpayment is 100k, i will put in 25k and i am looking for 3 other investors that can each put in 25k. I will act as the active investors that will glue everything together and get stuff done. other 3 people are passive investors. I will charge the passive investors a small fee to compensate for my time and other expense while putting the deal together. 

My 1st time bringing in partners. I don't know how it is gonna work out yet but thanks for your reply! If there are other items i need to pay attention to, please let me know.

thanks @Roy N.!

Yea I like the idea of LLC where each person own 25% of the company. But i'm not sure about the detail when it's time for tax. I guess i have to ask my CPA about this.

Hi fellow expert!

I'm putting together my 1st syndication deal and getting very confused as of how do you hold the property.

I'm raising the 25% down payment from 4 people to purchase a package of 5 single family house. 75% will be finance by a commercial banker. I heard the recent podcast that you suppose to have your operating LLC and holding LLC to be separated but i'm not sure how it get done exactly without upsetting the bank? Do you buy property under your operating LLC then later on transfer it over to your holding LLC? is your holding LLC suppose to be a multi member LLC or single? If it is multi member LLC, how do you handle taxes? do you have to file tax separately for a multi member LLC? if it is single LLC, how do you prove to your passive investors that they legally have equity in the project?

Thank you!

Huy

oh man this is a phenomenon deal! congrat @Bill S. 

i just signed up for their syndication event on the Feb 6-7 2015... i will let you guys know how it goes if the money it well spent or not....

Ask your Realtor go give you the rental comps for the area. Also ask him to help you calculate the cash on cash return per year. I usually aim for more than 10% return if i buy the house cash, and more than 20% if i put 20% down.  Anything below that i think you should walk away.

Hope it help and welcome to BP

@Andrea Shadd 

i actually did my 1st syndication deal with family members 2 3 years ago and it is still working out till now with no issue.....yet. You can read more about it here. I didn't know what i was doing is called syndication back then. Anyhow.  Just like any other deal, you have to vest your partner 1st. I would say try to avoid friends/family members with unstable financial condition, or the one that has the high probability of giving you headache. You should know them better than anyone else.