Should I start out by doing a non-accredited syndication?

[Jing Chai]

I attended a real estate investing meetup and was presented a deal for a syndication on an apartment. The minimum is $50,000 share.

Here is a brief summary of the deal:

-646 Unit Class B Multifamily in Georgia 

-$63.5M purchase price

-3 year hold

-8% perf, 16% projected IRR

-1.53x investment multiple

Currently I am a non-accredited investor and have the $50k available, however that represents over 60% of my liquid cash reserve. For someone starting out, would a commercial syndication be a good way to begin investing?

Thanks

[Jason Yarusi]

@Alina Trigub @John Corey are both trying to warn you about the implications of investing in a deal where there is not a pre existing relationship. I would also suggest if someone’s hope to raise money for a 650 unit apartment building involves setting up a table at a meetup and hope then that should give you all the investment guidance you need on this investment. If you are looking to invest in a syndication start identifying who are the players doing them and introduce yourself so you can understand what their investment criteria and their philosophy and how that relates to your investment objectives.