All Forum Posts by: Luke Miller

@Account Closed Don't worry about spelling. It's important, don't get me wrong, but this is also a space to learn. Your deal probably shouldn't be "syndicated" in the SEC/official sense. To have a lawyer draft all the necessary documents would be around $10k to $30k depending on complexity, which would probably kill the deal. A better option would be joint venturing with a partner that will actively invest along side you. This is probably better for you anyway since you don't have the experience. If it's a good deal, team up with someone who will help you take it down. 

@John Pickowicz right here! What are you looking to learn? There's plenty of free information. Feel free to DM if you need direction.

I went to my first FIRE summit earlier this year and met SEVERAL people that I went on to do deals with this year. I'm excited to go back and meet more people and learn from the speakers. I've been to a lot of events and this one is the best i've been to! 

@Jordan Rocca talk with brokers and see what their opinion of the market is. Reputable ones will be honest with you. I would also look at CBRE's data, they put out a report that details markets and cap rates for different asset types. That will only really help on larger deals though. 

For smaller multifamily, you might have luck calling an appraiser's office and asking their opinion. 

@Connor Deneen your best bet would be to find a partner and work a joint venture together. Attending a REIA or posting here on the marketplace might get you started. It's going to be difficult to find someone willing to allow you to live in their investment (assuming you wont be paying rent and that unit won't make money). It seems like an achievable goal if the deal is good enough. I wouldn't give up.

@Travis Houck as you can see, a lot of posts have been removed on this one. Lot's of self-promotion. There are plenty of reputable folks here on BP, but your best bet is to look for folks with a long track record of success. If they don't have the time in the market, they should have partners on the team that do have that experience. 

@Kay Moore what others have said is what i've seen as well. The more complex, the more expensive. 

This would be an awesome event. Wish I was closer! Thanks for educating people, @Alina Trigub

 Here's a trick that might narrow down your list of property managers. Go to Apartments.com and search for listings in your target area and you can filter by size. Find properties that are operating well (higher rents, cleaner, better reviews) and look up those property managers. Also, look for deals that aren't doing so well and those could be potential leads down the road. 

Feel free to email me if you need some more help.

@Frances Buerkens this is a relationship business. You want every connection you make to be 'warm' and not cold. If you have relationships with brokers, they should be giving you PM recommendations. None of the PMs listed in this thread specialize in 100+ communities, at lease i've never heard of them. I'm sure they are great for smaller stuff, but to get into large apartments requires a professional. Brokers will know who is the best and if you're working with the best brokers, you'll get good info.