All Forum Posts by: Jeffrey Donis

This sounds like a very interesting deal. Congrats on getting it under contract! Keep us updated on if your partner finds a buyer. Make sure to establish a detailed JV agreement between your partner and yourself to make sure you are both on the same page.

@Justin Goodin  I've been to a few multifamily meetups in the Raleigh, NC area. My favorite one is at the local car club. It was free for first time attendees, and others paid a fee for dinner and drinks. It was a great way to meet people in our area. the host presented a deal for 20 minutes, but the rest of the meet up was just networking. It was really fun, and I liked the way it was laid back. I think meetups are best when they are mainly networking events. That way, people get to mingle, and also build real connections. 

Hope you get some value from my experience at this event. 

I agree with @Danté Belmonte. Finding the owner's number and cold calling them would be a great way to reach them. I know some investors send direct mail, but I'm not sure how effective they are. Cold calling might be a good option. 

the Triangle NC market is hot right now! Lots of businesses moving here and it's been developing rapidly over the past few years.

I agree with @Justin Goodin. We try to submit LOIs for deals that meet our criteria, and we don't submit LOIs on deals that don't meet our investor's returns. Right now, we're not submitting as many LOIs because a lot of the deals we look at are overpriced. I'd say our KPIs are around 5 LOI for every 100 deals we look at. Right now, everything has high prices and institutional buyers are buying them up. But, we are always hunting for deals.

 I agree with @Charles Seaman. Self-awareness is crucial in knowing how you want to proceed with investing. Once you know your strengths and weaknesses, you can leverage them to find someone who compliments your needs that you can bring value to. Real estate is a people business!

Syndication is great. It is different depending on whether or not you are looking to be a general partner or a passive investor. General partners are able to acquire wealth by building portfolios of larger commercial properties and receive a percentage of the cash flow for helping find, purchase, and operate the property. Passive investors have the benefit of receiving cash flow without involvement in the day today management of the asset because the value they bring is the capital needed to acquire the property. 

bigger pockets is a great place to find people interested in a deal (by networking). Just look for people who are buying apartments in the markets you're in, and reach out to them directly. 

I agree with @Joshua McMillion. If you network with people and find a way to bring them value, likely by bringing them a good deal, there will be someone willing to do a deal with you. What we did was pay for mentorship with a syndicator who will partner with us on deals, so that might be a good option too. 

Welcome @Cameron Dierking. Some advice from me would be to surround yourself with the right people. Find people in your area who are doing what you want to do and find a way to bring them value. This will help to shorten your learning curve and get you doing deals faster.