All Forum Posts by: Scott Morongell

Well the bank or Fannie/Freddie will come in around 1.25 for your DSCR. We have been underwriting to 1.30-1.35 for extra protection. We also raise all capex funds when possible to have more cash incase something were to happen in the market. Underwrite off historical and not the last 5 years for rent and expense growth as the last 5-8 years are a bit flawed and are unlikely to hold through the life of your project. If you doing a value add play, make sure your being realistic about pops in rent when you turn a unit. If you apply all of these you will be on the right path to success. Oh and if your not doing in house property mgmt, please hire the best company possible in your area! Mgmt companies can make or brake deals.

@Marshall Hooper as many have already said if it's a 506(c) offering you are allowed to. If your doing 506(b) you cannot. That being said! I have seen some operators for are doing B's write stuff online that they shouldn't be. 

@Blake Andrus Brandon Hall is probably one of the most known on the BP threads. He does prep and strategy for tax. 

@Louis Dobrik absolutely possible to have 300 units. Will they all cashflow 180/per door? That I can't answer for you. Happy investing and go after your goals!

@Allison Jones surround yourself with people who are already doing syndication. One way is to add value to a group or operator. The other is to join a program or get a coach. It's a business that you don't want to tackle alone and test the water especially when dealing with other peoples money. I'm happy to answer any further questions. 

@Johnny Tsu how has your journey to syndication going? My advice would be to not go at it alone. Go to conferences, meetups, and even hiring a coach or join a group. 

@Johnny Tsu how has your journey to syndication going? My advice would be to not go at it alone. Go to conferences, meetups, and even hiring a coach or join a group. 

@Skylar Vincent did you end up going with Michael's coaching? Would love to hear how it went/is going.

@Kyle Coronado congrats on joining BP and surrounding yourself with a very helpful community. If you have any specific questions reach out!

@Mihir Bhimaraju I'm assuming your referencing flips or wholesales? I haven't been through a recession but this is what I do to avoid losing my shirt and investor money. I buy B/C class 50+ unit apartment complexes. If you buy right your able to ride out the storm. Where operators get into trouble in larger MF is lavish assumptions going in, placing the wrong debt on the deal, and not stress testing the deal/market.