Single family syndication?

[Stephanie Martinson]

Hello everyone,

Has anyone done syndications on a small level and invested in a single family residence with investors' money?  I'm looking at doing one with 1 investor buying in at $50,000.  

House- $175,000

Repairs- $15,000

Hold period- 3-5 years

8% preferred return- Around $4000/annually (money from rent minus mortgage)

20-30% return at closing

Then I would keep the leftover annually and at closing minus carrying costs.

Any idea if I need a securities lawyer or if I can just sign a promissory note?

Am I missing something?

Thank you for your help!

Steph

It seems like a bit of work for a small deal, but I wanted to try a syndication at a small level while I'm looking for deals at a bigger level.