All Forum Posts by: Theo Hicks

Simply based on how much you work, passively investing in deals or buying turnkey properties make more sense. Unless you have someone to manage the entire BRRRR process, I don't see how you will make the time to do it properly, especially since you are traveling.

@Kristine Jefferson thanks for the reply. Shows that afterr doing one deal with a broker, it is possible to get access to their off-market deals

@Brandon Dixon starting out by passively investing in apartment syndications is a great approach, especially if you have a full-time job. Soak up as much knowledge as possible (i.e., asking questions, reading through the documents, etc.) and continue educating yourself via books and podcasts so that you can leverage that expertise to do your own deals in the future.

@Shannon Cohan which submarkets and neighborhoods are you multifamily clients investing?

@Josh Levan I am an investor. Haven't bought a deal in Tampa yet but am on the market for a 100+ unit value-add deal

@Account Closed It was written for someone in your situation. Lots of strategies for building that credibility factor.

Thanks for the shout out @Alina Trigub. And I would second her advice. If you've never done a multifamily deal before (or if you've never done a deal in general), syndicating a deal by yourself if unrealistic. Find a partner with experience or do some deals on your own to build up a track record.

Location: Cincinnati, OH (Oakley)

Strategy: plan was to live in one unit and rent out the other, but I ended up renting out both units

Numbers: $170,000 purchase price ($5,500 down payment), $20,000 in renovations. $2600 a month in rent, sold after 1 year for $220,000

I had the property under contract after knowing about real estate for LITERALLY 48 hours, so I had no education and experience. As a result, I made a lot of silly mistakes and constantly had anxiety about the property LOL

Don't try to time the market. Underwrite the deal conservatively and if it makes sense, submit an offer.

Step 1) Build your team (management, lender, attorney), and begin to generate verbal interest from investors.

Step 2) Work with brokers to find deals

Step 3) Underwriting and submit offers

Step 4) Once deal is under contract, you'll have 60 to 90 days (depending on the PSA) to secure debt, secure equity, work with attorneys to create partnership documents, and perform due diligence.

As others have said, JV is probably your best, most cost effective partnership structure. To qualify as a JV, your partner needs to have a defined, active, ongoing role in the business plan. They cannot only bring the capital.