All Forum Posts by: Luke Miller

@Account Closed said, it's more important to get their card. Make a connection with them and then follow up after the conference. I would just put your name, phone number, email, and perhaps location. Sometimes when I am looking for a deal or someone on the ground I have to try and remember where everyone is located. It might help set you apart. 

@Randy Forcier before going down this road and taking the great advice listed above, think about the possibility of loosing your family and friends' money. One of the first questions I ask potential investors is something like "what would happen if this deal went south and you lost the entirety of your investment?"

An equally important question is if you did lose their money, would you still be friends? 

Not saying to halt the operation here, but you have a fiduciary responsibility in explaining the downfalls of securities investing. 

Seems like you have a lot of recommendations on syndication. When you get further into your business strategy, I would recommend reading up on marketing. Specifically copy writing. It's something that is seriously lacking in this space and someone who can market themselves well will have a leg-up. 

@Samuel Lynch I don't have any recommendations of that size, but I would suggest reaching out to brokers for their recommendations. From there, I would weed those down with interview questions. Eventually, you'll get a good manager if you ask the right (and sometimes uncomfortable) questions. 

I'm guessing you're talking about commercial, @Gary B.. If not, I think you might be in the wrong section. Neighborhoods are much more subjective. I'd look at annual income per capita. That's helpful. Broker and property management opinions are valuable so long as they are verified by each other. Most importantly though, you'll want on the ground assessments. Find people there and ask their opinion. Take everything with a grain of salt and verify everything. Good luck!

Sorry no one answered this, @Ethan Morgan

I've found the best way to find brokers is to go to loopnet, CREXI, City Feet, etc and look for brokers that are posting "deals" that are similar to what you're looking for. The deals on the website will be crap, but you can take those listings and get contact info for the broker. Use that to compile a list and start the conversations. Good luck!

@Dean Fiacco you're trying to dip your toes in the water here and you might just need to jump in. Syndication is not really something to mess with. If you have people that want to invest passively then you will be doing a syndication regardless of size. If there are small number of people who want to actively invest and help (and I mean actually help) manage the project, then you might be okay with a JV. I'd suggest reading up on securities law and then talking to an attorney if it's something you want to pursue. I disagree with what was suggested above, you can't avoid a syndication just because it is pricey.

to answer your first question: I found letter campaigns to be useless for the size of deal I was looking for. Brokers won't take you seriously until you've done a deal so I would suggest partnering with someone who is doing what you want to do. 

Sorry if the advice is frustrating! 

 Basically, you need to find people that are active syndicators because most won't be soliciting the fact that they have deals (SEC regulations). I'd suggest attending multifamily syndication specific events. The next one I know of is Joe Fairless' event in Denver on Feb 22nd. 

@Charles DeRiso I have some questions for someone that wants to invest in my deals and i think it might be helpful for you to think about them too. First and foremost, why do you want to get involved with a syndication? What happens if you were to lose your investment? How would that impact your financial situation? How comfortable are you with real estate and real estate investing? What is one thing that makes you nervous about jumping in?

Find a good sponsor that you can trust and just do it! Let me know if I can answer any questions for you. 

@Kingsley Edemidiong think about what you want out of the investment. Is it cheap rent? (house-hack) is it long term wealth? Is it being a landlord? 

You need to figure out your "why" and work backwards and see what you can handle and what you can't. I ignored this for a long time and I regret wasting so much time.