All Forum Posts by: Scott Morongell

@Hunter Jones congrats! What was your biggest learning experience in the process or unknown you came across?

@Jacob Breazile Congrats!

@Stephen D. lots of ways to get started but it takes time:

• hire a mentor/coach
• intern with a syndication group
• use others who are more experience for leverage
• add value to others
• go to networking events / weekend bootcamps
• invest passively
• raise equity and partner with a lead sponsor for their deal

it will be a tough raise capital on your own and get investors nor do I advise it. Partnering will set you up for long term success.

@Lanny K. @Brian Burke hit the nail on the head with his assessment. The only other thing I could add is the property management company. Who are they using? How many units in that specific area? What is their reputation? Or are they going to hire their own to manage it (red flag)?  Like Brian said, a seasoned strong sponsor if who you should be really looking to place your capital with. Any sponsor can make the numbers look great on paper. 

@Sam Barna a property mgmt company and a good broker would be your best source to tap into and cross reference from what others are telling you on BP.

@Erin Wicomb great write up. In my opinion after co-syndicating just under 700 units this year is that the sponsor and the PM teams are what really matters. As an LP, please do your homework on the sponsor and do some of your own digging on the PM company they are using. Another area you should be looking to grow your knowledge in is underwriting and assumptions. If your new to being a passive investor you want to know is it's possible to achieve the 2-4% rent growth that the sponsor has assumed. 

@Rashad Jones Jennings I don't personally look for D class assets. The BRRRR could work but from what history tells us and other experienced operators is that D class assets get hit very hard when the market corrects. Lots of bad debt, skips, and unit damage. Im not saying you can't make money I just think there is a lot of risk around a D asset.

@Ryan Alacon absolutely. If you ever have questions when it comes to syndication feel free to reach out.

@Skylar Dejesus congrats! Persistence always wins. 

@Ryan Alacon I have been having several investors from California reach out looking to invest in our syndications. Great option obviously if you want to be passive.