All Forum Posts by: Theo Hicks

@William Huston I've worked with Joe Fairless for nearly 4 years and have nothing but positive things to say about him and his syndication business.

Ask for referrals from the local brokers and attend local meetup groups.

I'd find an overall GC rather than multiple subcontractors.

For commercial multifamily properties, the cap rate and the NOI determine the value. Not many investors base their investment decisions on the cap rate.

The return metric that is important to you is based on your goals. If you're goal is cash flow, then cash-on-cash return is your metric. If you are raising capital, IRR is likely your metric. If you are fix and flipper, the ARV is your metric.

Door knocking, driving for dollars, direct mail, creating a thought leadership platform and a landing page, "we buy houses" flyers, bandit signs, etc., calling rental listings on Zillow, Craigslist, etc., wholesalers, meetup groups (either attending or creating your own).

Generally, the parties or party responsible for raising capital are given a percentage of the GP. I've seen as little as 10% to 15% and up to 40% of the GP allocated towards raising capital. If the allocation is 30% and you raise 50% of the capital, then you should get 15% of the GP.

2% of the purchase price is the most common acquisition fee.

Hi William,

I would start with the apartment syndicators who are posting a lot of BP, as well as to look at the multiple forum posts with lists of syndicators. Go to their website and set up a call.

Hi Ryan. Depends on your long-term goals. If you want to build your own investment business, there is better upside in buying your own deals. 

Also, keep in mind that most syndications have a minimum investment amount and may require that you be accredited. So if you cannot meet the minimum and aren't accredited, you'll have to invest in your own deals first.

Personally, I learned the most about underwriting by creating my own custom cash flow calculator in excel and then underwriting live deals. This strategy is also a great way to build relationships and credibility with brokers: underwrite their deals, ask questions, and provide feedback on how the deal compares to your investment criteria.