All Forum Posts by: Juan Vargas

Hey @Richard Mercado, of course! It'll be great to have them there as well. Looking forward to meeting you guys. Let me know if you have any questions. 

Have you tried checking out Loopnet? There are lots of agents on there. I would start by reaching out to some in those markets. 

The best and most likely way to get these size of properties is through broker relationships. 

 Are you asking if it’s considered a commercial property at 5 units? If it’s 5 units, yes it’s considered commercial. 

You should always try to attract and talk to investors before getting a property under contract. Build solid relationships. 

Investors will want to know more about you vs the deal. The returns are secondary, they want to know your background and what you have done. 

That said, you should make sure to have a team and a business plan in place. Don’t go talking to investors without knowing what your plan is. 

Some events may seem “over hyped” to experienced people but not for those who are looking to get started and learn more. 

What are you looking to get out of an event? 

Usually brokers are the best source of deals but sometimes it can be a challenge without a track record. 

Have you tried doing direct mail to the owners themselves? Although it’s  not a sure thing since we don’t know if the owners are even wanting to sell in the first place, it can be a great way to get into that first property and avoid the “track record issue” that arises when contacting brokers. 

This might be a good set of questions for someone like @Dave Foster. Look him up here on BP. He should be able to help you out. 

I think you have to ask about their track record, how many projects have they done and what returns were they able to achieve. 

• Are they using conservative or aggressive underwriting? If they are being aggressive that would be a red flag.
• Have they been through a down cycle and if so what was the outcome? 
• Have they had a deal go wrong and if so what did they learn to prevent that from happening again? 
• Are they putting in capital as well or just raising capital from you and others?
• Have they had to do a capital call before or did they use their own funds instead?

These are just a few questions you probably should ask about. 

Great points above. The best way for you may be to find a deal (directly from your own source) that makes sense and take it to an experienced syndicator and partner with him. You will gain credibility and experience and build a track record. You would most likely have to do this for a couple deals before you can start thinking about going off on your own. Bring value to a syndicator/ operator first. 

Another is by way of underwriting deals. Most syndicators don't have time to analyze deals all day long and most "deals" are just a waste of time anyway. You could basically help them with this task, assuming it is a strength of yours, and commit your time into finding that property by underwriting to their criteria.