All Forum Posts by: Lennon Lee

Happy New Year to all!!

We are starting strong this 2018 and the club is ready to get together. Like every month, we will be meeting at Wynwood Cafe this coming Tuesday Jan 23rd at 6:30 pm.

GET YOUR TICKETS HERE: https://www.eventbrite.com/e/miamis-multifamily-investing-club-january-2018-meetup-tickets-41966624303?aff=es2

For our Januray 2018 Meetup the guest speaker will be Patrick Dean, Founder and CEO of Real Estate Wealth Advisors & RE Wealth Advisors with over 17 years’ experience in both domestic & International Sales, Trade Finance, Off Market Commercial & Residential Real Estate Investments, facilitation of global arbitrage. Currently Patrick Dean is leveraging & hedging opportunities in both Off Market Real Estate & business capital funding.

Patrick will be doing a presentation on Multifamily Investing in 2018 and beyond!

The guys at Wynwood Cafe will hook us up with some cold beer and delicious snacks to share while we network and get to know each other. (Included with your $20 admission fee)

GET YOUR TICKETS HERE: https://www.eventbrite.com/e/miamis-multifamily-investing-club-january-2018-meetup-tickets-41966624303?aff=es2

The Miami's Multifamily Investing Club welcomes apartment investors, real estate professionals, entrepreneurs, and everyone out there pursuing financial freedom.

The MMIC is a knowledge-sharing and networking community with a special focus in Commercial Multifamily Real Estate.

Our goal is to provide our members a SALES-FREE environment of constant learning where partnerships are created and deals get done!

See you there!

TICKETS WILL BE $25 AT THE DOOR (ONLY CASH)

 Kenneth, the event is scheduled for November 28th from 6:30 to 8:30 pm at Wynwood Cafe. We are a relationship-building oriented community and we have industry experts as guest speakers on every meetup.

Come join us for our November 2017 Meetup! A great opportunity to network with experienced multifamily investors and industry professionals.

Get your tickets here!

The event is scheduled for Tuesday, October 28th at the awesome Wynwood Cafe, located at the heart of Miami's Art District. The guys at Wynwood Cafe will hook us up with some cold beer or wine and delicious snacks to share while we network and build some solid relationships. (Included with your $20 admission fee)

On this ocassion we will have Christopher Lentz doing a great presentation on "The Essentials of Multifamily Finance".

Chris is a Senior Director at Cushman & Wakefield with over 11 years of experience in Investment Banking and Commercial Real Estate. Chris’ team are the newest members of Cushman & Wakefield’s growing Equity, Debt & Structured Finance group, which provides a full-spectrum financial services platform to both domestic and international clients offering unsurpassed customized advisory and integrated capital solutions for all asset classes.

The Miami's Multifamily Investing Club welcomes apartment investors, real estate professionals, entrepreneurs, and everyone out there pursuing financial freedom through REI.

The MMIC is a knowledge-sharing and networking community with a special focus in Commercial Multifamily Real Estate.

Our goal is to provide our members a SALES-FREE environment of constant learning where partnerships are created and deals get done!

Come join the club!

NOTE: Tickets will be $25 at the door.

Lue,

Yes. It can be done just like with a single family investment property or any investment property for that matter. All the laws and conditions apply just the same. 

Disclaimer: I'm not an attorney so don't take my words as legal advice. You should always contact your real estate attorney for any professional legal advise.

I can't say we have done it yet since we still have some years left on the investment cycle of our projects. But we do plan on doing it with everyone of our properties if it makes sense at the time for us and our investors.

Good luck!

Sergio,

Congrats on getting it going with what I assume must be a nice deal.

Since I've never heard of those type of lists I probably am not the best one to provide advise.

What I do know from experience is that depending on the type of syndication it might be illegal to advertise or promote an investment to someone you don't have a previous relationship with and it's within your network.

Under Rule 506(B)  you are not allowed to do general solicitation for your offering even if it is to accredited investors. You can, however, do it under Rule 506(C).

Consult all this information with your attorney before moving forward with the purchase of such list.

Good luck with your deal!

@David D'Ambrosio I'm sure by now you already have a clear path on how to identify a good sponsor or crowdfunding platform to invest with.

Being both a limited partner (passive investor) and a multifamily syndicator myself, I would be happy to chat further with you and share my experience as a passive investor and how I was able to identify a reliable and trustworthy sponsor that also happened to perform above our expectations.

Like @Brian Burke said: "It's not a 'deal' decision, it's a 'relationship' decision"

Good luck!

Billy,

Congrats for putting all the work and effort to educate yourself. Real estate is definitely a beautiful avenue to financial freedom.

Before thinking about finding investors and talking to them I would focus on determining where within the commercial real estate realm you want to position yourself. Is it office buildings? retail? multifamily? 

Whatever asset type you decide to go after, you guys must then focus on determining your strategy and business plan. When you mention you want to secure commercial real estate do you mean acquire and then hold? for how long? are you going for a value-add play?

After having a clear picture of what your strategy will be and the specific niche you want to attack, I would recommend to put some effort in building your brand. Build a nice website, decide on a social media platform to start sharing knowledge, create a local meetup, ect.

To now answer your question, I say just do it. Start by letting all your family and friends know what you are doing and how you can help them. Go to local REIAS, meetups and networking events. The answer to your question is actually within the question itself. You will find potential investors by networking.

Only after you are seen as a thought leader and an expert in your industry will investors come to you and will want to invest with you.

I hope I've been of help.

All the best! good luck.

Lennon

@Account Closed.

If after doing your due diligence on the sponsor you are still not convinced, then it probably is better for you to pass and go with another investor group that you feel comfortable with.

I personally believe that there's nothing like an in person meeting and spending time with the person you are about to invest with. So if you have the opportunity, go ahead and spend a few hundred bucks on a plane ticket (if out of state)  and set up an in person meeting with them.

Hope it helps. 

Best,

Lennon

This is a nice threat to follow. Thanks for putting it together @Brentin Hess.

I myself am a Limited Partner in nearly 300 units in Texas. Recently started my own investment company to put deals together through the syndication model.

At the moment I'm actively partnering with more experienced sponsors and raising money for their deals while I get a deal of my own. I believe this is one of the best ways to start in real estate syndication. It allows you to start learning the ins and outs of the business without necessarily having to take care of all aspects of it. It will help you gain confidence in yourself while building a track record and starting to build trust with your network of investors.

I look forward to reading from other syndicators. 

Best,

Congrats on getting that deal Abraham. It looks like sticking to your guns paid off.

This is such a valuable lesson for everyone out there trying too hard to get a deal done (specially with the multifamily market being so hot) that they forget about their criteria and get into bidding wars.

In regards to going into this deal vs a value-add deal the answer will always be "it depends". In my opinion it's a smart move to position your capital in a "low-risk" stabilized  asset and getting to know the ins and outs of the business by managing the property for a while.

Once you have that experience under your belt you'll be able to chase value-add opportunities using OPM. 

All the best!