All Forum Posts by: Scott Morongell

@Dan Handford GP in 672 units in 2018. Hope to keep the same pace for 2019 granted the market continues to play nice. 

@Alec McGinn Yes, of course bigger is better. Economies of scale, staffing for the property, and analyzing deals and returns with more zero's involved is great. However, going big right out of the gate is very tough. Start where you are comfortable and then push your comfort zone on each deal thereafter and before you know it you'll be doing 100+ apartment deals. I'll leave you with this. If you want to go big right out of the gate, then join a team already successful. Find a way to add value and learn with a hands on approach. 

@Jesse Winters Many have already covered in detail how to find a quality syndication. Once you find a group(s) you want to invest with make sure to connect with others who have invested in their deal previously. They can give you insight on reporting, honesty, how the deals are going, if K1's are released in a timely manor, etc. Ask the questions up front and be thorough. If a syndicator won't take the time to answer all questions, provide references, etc there's a good chance you will want to keep searching till you find the right group. 

 Let's talk further. It could be a good spot to have it.

@Jordan Gay Would love to help out and share my experience with you. I am also a former pro athlete and now multifamily investor. Yes, Charlotte is hot but there are neighboring markets you may want to look into for greater yield (especially if your syndicating which it sounds like). I will also be starting a multifamily meetup in Charlotte come March/April of 2019. 

@Patrick Leitch I'd start by tapping into your own network outside of work. I agree staying away from muddy water is best. Willing to share my experience. In short, you can't buy large MF's with no money. Your quickest route is to partner with some that has money already. Many ways to find that partner and possibly easier than you think.

@Gregory McKinley I would suggest a few things before you even get a deal or start looking for them:

-Build your brand (website, thought leadership platform)

-Attend local events and those put on by syndicators

-Start telling everyone what your doing

-Partner (connect with more experience syndicators and see how you can add value to them and in return they may want to partner on a deal with you when you get one)

By doing these steps you will naturally start to raise money and have your immediate inner circle primed for when an opportunity does come. With a parter usually investors come along with. You will have to raise less money on your end if the partner can bring some investors to the deal.

@Dan Handford great point to bring up as many new syndicators and unexperienced PM companies can often gloss over. 

@Josh Detweiler like other have mentioned. Bringing in a more experienced team member/partner would be a great idea. You will need it anyways when qualifying for a loan!

@Account Closed I will be starting a REI meetup in Charlotte come March/ April of 2019. It will have an emphasis on multifamily. Would love to have you part of it.