All Forum Posts by: Ingrid J.

@Gail Greenberg Interesting. Where do you buy those? Through official dealers? Why don't you PM me. I'd like to look into it.

As for the general discussion on syndication here, I gotta ask: many people who talk about syndication say it's risky. I can appreciate the warning, but in general is there a statistic that proves it? Like for instance, "30 % of all syndication deals fail to generate expected returns?" Link some articles here if you've come across something like it.

@David Epstein Welcome to BP! Jacksonville is a good place to start. I'd recommend you get in touch with local realtors to have them send you deals directly off the MLS. That, combined with setting up key alerts for "Jacksonville", will teach you what other investors are learning bout the place.

It also depends on your strategy. Are you in for cashflow or cashflow and appreciation? If it's cashflow you're looking for you might want to check out some of the Midwestern cities.

@Joel Owens In your opinion, what are the most important success factors of a syndicate? I read an old post where Brian Burke said that the sponsor is almost more important than the building.

@Mike Dymski Good question. Just gonna jump in here, since I've been wondering the same thing.

@Ryan Budil I second your advice. You can technically turn a condo into an apartment complex if you allow yourself to consider other markets. On that note I highly recommend reading the book Multifamily Millions by David Lindahl, before doing anything.

@Ben Smith Welcome to BP! Did you do all your deals in Fernandina or have you spread them around Jacksonville?

@Jason Barnett Well, that works as well. And coming from Norway I can understand the part of wishing away the snow.

It depends on what kind of deals we find. We're in the process of evaluating our lending opportunities, and ideally we'd like to start with a househack.  

@Jason Barnett Okay, nice. It's good to have someone who's lived there before. What did she think of the Springfield neighborhood? We're considering it for buy-and-hold.

We began by evaluating what was important to us personally, before analyzing any metrics. There are many great cashflowing cities, so we wanted to make sure we selected a place that fit our personal criteria first. An example of one of our personal criteria was: it needs to be one flight away from Norway, so we can easily visit family and friends. Secondly, we had to make choice of whether to go only for cashflow (typically Midwestern cities) or cashflow and appreciation (slightly more expensive west coastal cities). Finally, we did an evaluation based on where we would like to live. It's gotta be somewhere you can see yourself enjoy yourself, so we ended up with Florida, instead of some of the places in the Midwest. When doing an analysis on cashflow, average purchase price and crime statistics we ended up picking Jacksonville. It wasn't so much that it was the only choice. It was more the fact that we needed to conclude our research to avoid getting analysis-paralysis, and just start somewhere. 

I'm still considering doing apartment complexes in the Midwest for cashflow, but that can always be done later on. The most important thing is to get started, and learn as you go. 

Hi Jason,

and welcome to BP!

Me and my boyfriend are also planning on moving to Jacksonville to invest. We will be visiting the different neighborhoods around the city before selecting anything.

Are you planning to do buy-and-hold? And have you visited Jacksonville? I would recommend starting out by seeing different areas and getting in touch with local realtors or turnkey properties.

Best wishes,

Ingrid.

@Joey Hamaoui Me and my boyfriend are looking to invest in Jacksonville. We've been looking in some of the neighborhoods you mentioned to Jim Schock ( 06, 09, 08, ). What would you recommend instead? I will PM you my post so we can connect.