All Forum Posts by: Taylor L.

I've been very pleased with Contactually. You make 'buckets' which you place your contacts into. You set how frequently you want to keep in touch with them, and it monitors and keeps you on track.

It has a ton of functions like bulk mail, open & reply tracking, and lots more. I was very happy with all of the integrations.

Absolutely still a buy market. As apartments go, we're in a stage where good value add opportunities are most difficult to make happen than they were 4-6 years ago.

1. Buy for cash flow
2. Use long term debt
3. Only buy in markets with growing employment & population and a diverse economy
4. Make sure you can handle increased vacancy & a possible drop in rents

 @Russell Brazil makes a great point about people overestimating their future willingness to buy in the midst of a recession.

@Derek Dodd, I agree with @Alina Trigub that if you have a good deal now, you'd be well served to find an experienced syndicator and partner with them. They could help you avoid a ton of pitfalls.

As far as education, there is oodles of content out there. Joe Fairless' Apartment Syndication book is a great place to start. You also have Rod Khleif's podcast, Whitney Sewell's Syndication podcast, and others. I think you'd do best to get a baseline understanding from content like that before sitting down with someone experienced and talking specifics.

I'd be happy to have a conversation with you, please feel free to PM and we'll get it set up.

How many units?

You'll need to factor in legal expenses to do a syndication.

2% Property Management fee is exceptionally cheap compared to the smaller properties I've looked at

The loan balance doesn't go down over time, is that an error with the model or a particular feature of the private money you have access to? 

In some markets, 3% annual rent growth is not realistic. I can't speak to this market in particular, but it's an assumption that needs to be substantiated.

It would be helpful to know what your plan is as a high level overview. i.e. "This is a C-class 30 unit property of all 2 bed/1 baths. Rents are under market by $X each in the same area of the market and class. We plan on raising rents to $Y below market over 18 months by such-and-such CapEx plan."

That example isn't based on your numbers, but having a high level overview story will help you pitch it to investors. To comment on your numbers we need a better understanding of what your plan is as well.

@Calvin Ozanick Turnkey companies do not really handle all of the issues. You have property management to handle things, but you still have to manage them and make sure they're making the right decisions. Case in point, a turnkey investor I know has to make sure his PM companies don't overspend on turns, as they're eager to eat up all of his cashflow in turn costs.

Syndication is almost as passive as it gets for the passive investor. The Investor's work is all upfront, finding the right syndicator, doing due diligence (ALWAYS do this), and evaluating deals.

Of course, you can always do both!

I agree with @Chuks Erinne, you'll be a better investor going forward. People are giving you too hard a time in here. I'm sure the loss of $ is punishment enough without internet strangers getting on your case.

@Kyle Schlosser as a Richmond resident, I'd be interested in reading that article. I invest in multifamily in other markets, much of the story about RVA multis is that we're in hypersupply.

@Calvin Beeke then you have a lot of options available to you! In my opinion the biggest value in most of these events is networking. You can only learn so much from a 2-3 day seminar, but you can also start a bunch of awesome relationships with people who are already doing what you want to do.

A few popular ones:

- Rod Khleif (This month!)

- Best Ever Conference (February)

- Ultimate Partnering (Networking is the value there)

- Jake and Gino

- Michael Blank's various events

- Brad Sumrok's Rat Race 2 Retirement

What do you mean as an investor focus specifically? As in meeting investors? Sponsoring syndicated investments? Can you clarify?

The best way to learn is to get out and do the thing! No need to wait for someone experienced to seek you out

@Dominick Albano thank you for sharing! I started as a passive investor with my IRA - I also use Quest Trust! However I did not invest in crowdfunded deals.

Do you think the treatment of investors would be any better if the sponsors had pre-existing relationships with the investors, and personal reputations on the line?