All Forum Posts by: Todd Dexheimer

Sounds like a 1/3 to 2/3 split to me, unless you're bringing more to the table. You mentioned the deal. I would say maybe an acquisition fee for that of 1-2%

I would expect to bring around $1,000,000 in equity to do this deal, plus the amount to renovate it. Let's say that amount is $350k, which brings you to needing about $1.35mm. You have a few options: 

1. Bring in money partners through a syndication

2. Bring on JV partners that bring both capital and experience (direction I would go if I was you)

3. Negotiate seller financing 

No matter what option you would choose, make sure you are educated enough to take the step forward. 

You can share contact information through private messages on Biggerpockets. 

I invest in the Lexington market and have been targeting Louisville as well. Looking for 100+ unit value add in A and B locations. 

In-person meetings by far. I go for the networking

If you're dealing with commercial multifamily and larger unit count, there is typically no buyers agent and no cooperative commission if there is. In that case the buyer would pay your commission. 

It really depends on what you classify as large multifamily. If you mean a 10-50 unit, then in my opinion, you would be just fine starting at that level. If you are talking larger, then getting in at that level is possible, but likely will require partnership. 

Make sure that you are using professional property management and find a partner and mentor if you're lacking in areas that will control your success. Quite frankly, the right partnerships and mentors will get you much farther, faster and will help you be more successful and avoid many mistakes. 

Start as big as you can wrap your head around - maybe even a little larger. 

@Brian, I am active in most of those markets. Purchasing 100+ unit properties.

Looks like you're taking the right steps. The last thing you want is a non-conforming illegal duplex. Get caught by the city and you get shut down or worse yet - a tenant gets killed in a fire or gets hurt and you get sued and lose everything - all because of renting out an illegal unit. 

Minneapolis: Up to a 12 unit

Milwaukee: up to a 20 unit

Cincinnati: up to a 25 unit

Lexington, KY: up to a 25 unit

Memphis: up to a 30 unit

Of course if it's in major distress you may be able to get a larger property. 

Thank you @Andrew Schutsky. I am happy to connect to discuss further @Tim Manke