All Forum Posts by: Scott Morongell

@Nina Hayden there are A LOT of coaching/mentoring programs out there. Finding the RIGHT one for you is the hardest part. I can recommend a few for you to explore if you'd like. 

@Julia Fair i'm assuming your speaking in regards to SFH.. I would have a few contractors meet you on a few different properties when just starting out to give you a competitive bid on the renovations. After a few you should be able to get a good idea of what stuff costs to then analyze yourself.

@Balane Frece like other have mentioned, syndication is probably your best route when it comes to being passive and stiff receiving all of the great tax incentives real estate offers. 

@Clay Alvord Unless everyone else on this thread is missing something a 95/5 sounds about right here.

@Clark Michael lots of great areas to invest in. Pick a market you know and have easy access to. If your in NC like your profile says I don't think you have to look to far for a strong market.

Things to be aware of:

• overpaying
• not raising enough capex dollars
• underestimating capex budget
• choosing the wrong PM company
• not getting right coverage on insurance
• trying to rehab project from cash flow
• buying in the hood
• going of the OM proforma

there are numerous ways to make a deal go sideways. I would suggest partnering with someone who is experience in this space first and add value to them. 

@Jake Diamond partner with a more experience operator in a syndication will help you go bigger faster.

@Kevin Ferguson I don't think it's a bad idea to be an LP first in a syndication, however definitely not a requirement. If you feel comfortable and able to build a strong team and partner with other jump into being a GP and leverage others.

@Raj G. my recommendation is to invest in something you have knowledge in and are comfortable with. I think investing in multifamily is your best option since your not deal with the headaches as an LP but get all the same benefits are a GP. Let's grab a coffee as I am close to you in NJ. 

@Eric Tonnemacher since we implement a syndication model our most important metrics are one that go to our investors. We look at cash on cash and IRR. If the deal doesn't pencil based on what our LP's expect, then we will pass on the opportunity.

@Austin Petrie brokers can tell you the most up to date cap rates based off what assets are trading at in their area.