All Forum Posts by: Scott Morongell

@Corey Walz find a great deal and you won't have a problem finding someone to JV. In the mean time, I would go to some of the weekend seminars or bootcamps to meet other operators that way when you get a deal it's an easier process.

@Lee Berkwits congrats on joining the BP community and getting involved. My suggestion is to pick a market or two and focus on those. It will give you a competitive advantage when it comes time to knowing if a deal is good or not. 

@Jared Carpenter I agree with @Joseph Gozlan, partnering up with a more experience syndicator would be an easy way to fast track and get into your first deal. I would continue to grow your network and talk to other operators who are in markets your looking to invest in to see if they're open to partnering if you find a legitimate deal.

@David VanWert there are several factors that you will want to look at before investing in a syndication.

-Sponsor (GP) team

-Where is the asset located

-Business plan

-Debt placed on the deal

-Property management team

I would also recommend you to learn how to underwrite deals yourself. Every sponsor is able to make the numbers look awesome on a spreadsheet. It is up to you to determine if those numbers are achievable and what questions to ask. 

@Michael Goodman I have experience if you have any questions.

@Tabarus Barton Depending on the size of the asset, hiring the right property mgmt company will find you a perfect tenants.

@Anthony Palmiotto I agree with Brian Burke. There are obviously many ways to raise the capital and make your renovations. I personally recommend raising it all up front and being done with it. If your working with experienced investors they will understand the slightly lower returns in year one due to your strategy in place. 

@Donovan Warren how has your syndication excursion been going? Have you chosen a mentor yet? There are a lot of good ones out there. My suggestion is to start of maybe going to one of their weekend bootcamps to learn more about how they teach and to also get referrals. Best of luck!

@Stefani Gillenwater thanks for sharing and joining BP. I think you will find a lot of valuable info on here and will be able to grow your network

@Brian Orr congrats! Best of luck with your property. I would say if you are going to upgrade unit interiors as needed don't over upgrade them. Lot's of time investors get emotional and want to over upgrade and will not achieve any higher rents in doing so.