Hello all - multifamily is "Pay to Play" - Which Multifamily GP operator as Mentor?

[Nicole Wang]

I heard the multifamily space is "Pay to Play". What Multifamily GP operators as coach / mentor would you recommend to partner with for hands-on deal experience in the Texas triangle? How can I bring value to them as a new investor.

Me and my partner have purchased, renovated and operated multiplex (triplex) properties in Canada. Now we are looking to purchase our first Multifamily apartment deal. First time syndicator.

At the moment, we are focused on equity raising and deals sourcing, and plan to partner with experienced multifamily operators on a deal in Texas. We have some contact here in Canada who have closed on 100+ unit multifamily deals in the Texas region.

We are focused on 75-200 units, class B+, with 7% go-in cap rate. The plan is to buy it, rehab it, refinance then pull out capital to the next deal one. 

Open to feedback or suggestions. Thank you all!

[Arn Cenedella]

@Nicole Wang

 Brad Sumrok and Abel Pacheco are very active in Texas.

There are certainly others.

Hope this helps a little.

Arn

[Nicole Wang]

Quote from @Arn Cenedella:

@Nicole Wang

 Brad Sumrok and Abel Pacheco are very active in Texas.

There are certainly others.

Hope this helps a little.

Arn

 @Arn Cenedella thank you so much for the recommendation! I will be happy to keep in touch if I do a deal in SC. :)

[Arn Cenedella]

@Nicole Wang

You are welcome.

Yes on South Carolina. 

We have a great team put together in Greenville SC where we all live and this provides a great competitive advantage to us. 

[Jeffrey Donis]

@Nicole Wang My brothers and I are in Think Multifamily with Mark and Tamiel Kenney. They do deals in Texas, as well as other markets. We were able to do our first 100+ unit deal as LEAD sponsors (meaning we found, underwrote, and negotiated to close the deal) with Mark's help since he partners with students. The group isn't too big, but everyone in the group is a serious investor looking to do deals.  There is a vetting process for members, which helps to keep the quality high, but a downside is that it's not as big as other groups. So if you're looking for a massive group, it may not be a good fit.

Their website is https://thinkmultifamily.com if you want to do more research. 

Good luck! 

[Nicole Wang]

Quote from @Jeffrey Donis:

@Nicole Wang My brothers and I are in Think Multifamily with Mark and Tamiel Kenney. They do deals in Texas, as well as other markets. We were able to do our first 100+ unit deal as LEAD sponsors (meaning we found, underwrote, and negotiated to close the deal) with Mark's help since he partners with students. The group isn't too big, but everyone in the group is a serious investor looking to do deals.  There is a vetting process for members, which helps to keep the quality high, but a downside is that it's not as big as other groups. So if you're looking for a massive group, it may not be a good fit.

Their website is https://thinkmultifamily.com if you want to do more research. 

Good luck! 

Thank you so much for the recommendation @Jeffrey Donis. Congratulations on your first 100+ unit deal! 

What are the pros and cons of being in a smaller group vs bigger group, based on your experience? What are the requirements for the vetting process?

[Lucia Rushton]

@Nicole Wang Rod Khleif period

[Nicole Wang]

Quote from @Lucia Rushton:

@Nicole Wang Rod Khleif period

Thank you so much for the recommendation @Lucia Rushton! I'll definitely look into his program too!

[Jason Bellant]

@Lucia Rushton

I’m thinking about signing up for his course can you give me some feedback on his services ? I currently own eight doors with 2 properties being duplexes. I live in Michigan and looking to get involved in apartment buildings.

Also looking at Michael Blanks mentorship program if anyone has feedback on his services greatly appreciate. Thanks

[Arn Cenedella]

Think Multifamily and Rod Khielf are also good options. 

Each group has its own vibe and flavor. Each group tends to go after certain types of properties. 

Find the group that aligns with your goals and values. 

[Lucia Rushton]

Quote from @Jason Bellant:

@Lucia Rushton

I’m thinking about signing up for his course can you give me some feedback on his services ? I currently own eight doors with 2 properties being duplexes. I live in Michigan and looking to get involved in apartment buildings.

Also looking at Michael Blanks mentorship program if anyone has feedback on his services greatly appreciate. Thanks

Rod has great coaches and a strong network.

I know people who have done Michael Blanks as well. The one event they had in Dallas a few weeks ago seemed to have a lower turn out than previous years.

[Bruce Lynn]

Not sure what you mean about pay to play, but if you mean pay to be in a coaching program, it can be fairly expensive.  Almost all the coaches I listen to are pencils down right now.   That doesn't mean all operators are out of the game, but many are due to bid/ask spread differences, interest rates, capital raising issues, leverage, and other issues.

Brad Sumrok out of Dallas has a nice conference coming up in August/September timeframe.  Fairly cheap to attend, but of course you'll have airfare and hotel expenses...3 or 4 days depending on what level you pay.  I've been several times and thought it was an excellent event....great networking, great speakers.  About 80% other speakers and about 20% Brad.   He will try to sell you on coaching which is probably $25000-$50,000.  It's called AIMNATCON I think.  Normally I don't like guru programs, but I've seen many success stories out of Brad's program.

I think that is one thing different about multifamily vs normal fix and flip or get rich quick guru seminars.  I've seen success stories with most of them.   There are some huge failures too.  You can read about the Arbor foreclosure in Houston to see one.  There are plenty of others and there will be more in the next year or two.   There will be plenty of sponsors and investors who loose everything and maybe more than they invested.  There will be lawsuits....you may win the lawsuit, but if you have to pay expensive lawyers and spend time in Texas on the defense in a hotel, with meals and all other expenses...it will not be fun.

One thing you have to think about is if you are an accredited investor or hang out with plenty of accredited investors.  That will be your main sources of funds...and typically you and your friends will need to invest $50,000-$100,000 per person.  There can be exceptions, but that's probably 80% of the raises i would guess from what I see.

Of the others on this list I've only been to TWA events.   I listen to plenty of podcasts from the others....and they seem legit as well, if you apply the knowledge.

Here's the list of gurus I have:

Brad Sumrok- Rat Race 2 Retirement...expensive, but I personally know lots of success stories. I’ve been to his seminars and thought they were great value. Normally in Dallas area.

Michael Blank-

Mark & Tamiel Kenney-Think Multifamily out of Dallas.

Steve Davis-Total Wealth Academy out of Houston. I’ve been to several of their events and thought they were top notch. His full day Wealth Mastery Class is one of the best classes I’ve ever attended. As much about life goals as real estate goals.

Lifestyles Unlimited--lots of success stories there too, but expensive....Sumrok and Davis and many others came out of Lifestyles program.

Rod Khalif- out of Florida.

Jake and Gino-

Joe Fairless- Best Ever Conference

Plenty of people on BP have been to one or more of these seminars and can give you the scoop probably on any of them. Some of them active on BP too. Many if not all have youtube videos and podcasts.

Other multifamily conferences:

MFIN—Various locations throughout the country

Vertical Street Ventures-

LFI-Left Field Investors

Family Office Club

One thought is and it is just a thought.....if you have $50,000 and are an accredited investor, instead of coaching invest as an LP in a deal.   You can learn a lot that way, learn about the sponsors, maybe you can contribute in some way to the success of the deal.  Do that once, and then be a fundraiser for their next deal.  You'll have some street cred that way and also get familiar with the numbers, reporting, distributions, pro forma vs actual results, capital stacks and communication....what you like and what you don't like.   It's probably a slower road than coaching, but it is a start....and hopefully at the end of the 5-7-10 year hold, you have some cash flow to show, hopefully 2x-3x your initial investment, some depreciation along the way.  Coaching probably speeds things up for many, but lets just say you spend $50,000 on coaching and all the coaches are in retrenchment mode right now and coach you to be pencils down.  You could very will spend that $50,000 and in the end just have some notes and notebooks and nothing to show for the money?

[Greg Scott]

Quote from @Nicole Wang:

We are focused on 75-200 units, class B+, with 7% go-in cap rate.

The property you say you are looking for will be nearly impossible to find.  Most B-Class Cap Rates in Texas are going to be well below 7% unless you are in a tertiary market.  Hence why getting education and mentoring is important.

[Nicole Wang]

Quote from @Bruce Lynn:

Not sure what you mean about pay to play, but if you mean pay to be in a coaching program, it can be fairly expensive.  Almost all the coaches I listen to are pencils down right now.   That doesn't mean all operators are out of the game, but many are due to bid/ask spread differences, interest rates, capital raising issues, leverage, and other issues.

Brad Sumrok out of Dallas has a nice conference coming up in August/September timeframe.  Fairly cheap to attend, but of course you'll have airfare and hotel expenses...3 or 4 days depending on what level you pay.  I've been several times and thought it was an excellent event....great networking, great speakers.  About 80% other speakers and about 20% Brad.   He will try to sell you on coaching which is probably $25000-$50,000.  It's called AIMNATCON I think.  Normally I don't like guru programs, but I've seen many success stories out of Brad's program.

I think that is one thing different about multifamily vs normal fix and flip or get rich quick guru seminars.  I've seen success stories with most of them.   There are some huge failures too.  You can read about the Arbor foreclosure in Houston to see one.  There are plenty of others and there will be more in the next year or two.   There will be plenty of sponsors and investors who loose everything and maybe more than they invested.  There will be lawsuits....you may win the lawsuit, but if you have to pay expensive lawyers and spend time in Texas on the defense in a hotel, with meals and all other expenses...it will not be fun.

One thing you have to think about is if you are an accredited investor or hang out with plenty of accredited investors.  That will be your main sources of funds...and typically you and your friends will need to invest $50,000-$100,000 per person.  There can be exceptions, but that's probably 80% of the raises i would guess from what I see.

Of the others on this list I've only been to TWA events.   I listen to plenty of podcasts from the others....and they seem legit as well, if you apply the knowledge.

Here's the list of gurus I have:

Brad Sumrok- Rat Race 2 Retirement...expensive, but I personally know lots of success stories. I’ve been to his seminars and thought they were great value. Normally in Dallas area.

Michael Blank-

Mark & Tamiel Kenney-Think Multifamily out of Dallas.

Steve Davis-Total Wealth Academy out of Houston. I’ve been to several of their events and thought they were top notch. His full day Wealth Mastery Class is one of the best classes I’ve ever attended. As much about life goals as real estate goals.

Lifestyles Unlimited--lots of success stories there too, but expensive....Sumrok and Davis and many others came out of Lifestyles program.

Rod Khalif- out of Florida.

Jake and Gino-

Joe Fairless- Best Ever Conference

Plenty of people on BP have been to one or more of these seminars and can give you the scoop probably on any of them. Some of them active on BP too. Many if not all have youtube videos and podcasts.

Other multifamily conferences:

MFIN—Various locations throughout the country

Vertical Street Ventures-

LFI-Left Field Investors

Family Office Club

One thought is and it is just a thought.....if you have $50,000 and are an accredited investor, instead of coaching invest as an LP in a deal.   You can learn a lot that way, learn about the sponsors, maybe you can contribute in some way to the success of the deal.  Do that once, and then be a fundraiser for their next deal.  You'll have some street cred that way and also get familiar with the numbers, reporting, distributions, pro forma vs actual results, capital stacks and communication....what you like and what you don't like.   It's probably a slower road than coaching, but it is a start....and hopefully at the end of the 5-7-10 year hold, you have some cash flow to show, hopefully 2x-3x your initial investment, some depreciation along the way.  Coaching probably speeds things up for many, but lets just say you spend $50,000 on coaching and all the coaches are in retrenchment mode right now and coach you to be pencils down.  You could very will spend that $50,000 and in the end just have some notes and notebooks and nothing to show for the money?

 Thank you so much @Bruce Lynn for taking time to write such a detailed response!! I really appreciate your inputs on the coaching and conferences overall.

[Nicole Wang]

Quote from @Greg Scott:

Quote from @Nicole Wang:

We are focused on 75-200 units, class B+, with 7% go-in cap rate.

The property you say you are looking for will be nearly impossible to find.  Most B-Class Cap Rates in Texas are going to be well below 7% unless you are in a tertiary market.  Hence why getting education and mentoring is important.

 Absolutely! Thank you for sharing your insight @Greg Scott. I'm refining the buybox and good to hear your feedback. 

[Hadar Orkibi]

Quote from @Bruce Lynn:

Not sure what you mean about pay to play, but if you mean pay to be in a coaching program, it can be fairly expensive.  Almost all the coaches I listen to are pencils down right now.   That doesn't mean all operators are out of the game, but many are due to bid/ask spread differences, interest rates, capital raising issues, leverage, and other issues.

Brad Sumrok out of Dallas has a nice conference coming up in August/September timeframe.  Fairly cheap to attend, but of course you'll have airfare and hotel expenses...3 or 4 days depending on what level you pay.  I've been several times and thought it was an excellent event....great networking, great speakers.  About 80% other speakers and about 20% Brad.   He will try to sell you on coaching which is probably $25000-$50,000.  It's called AIMNATCON I think.  Normally I don't like guru programs, but I've seen many success stories out of Brad's program.

I think that is one thing different about multifamily vs normal fix and flip or get rich quick guru seminars.  I've seen success stories with most of them.   There are some huge failures too.  You can read about the Arbor foreclosure in Houston to see one.  There are plenty of others and there will be more in the next year or two.   There will be plenty of sponsors and investors who loose everything and maybe more than they invested.  There will be lawsuits....you may win the lawsuit, but if you have to pay expensive lawyers and spend time in Texas on the defense in a hotel, with meals and all other expenses...it will not be fun.

One thing you have to think about is if you are an accredited investor or hang out with plenty of accredited investors.  That will be your main sources of funds...and typically you and your friends will need to invest $50,000-$100,000 per person.  There can be exceptions, but that's probably 80% of the raises i would guess from what I see.

Of the others on this list I've only been to TWA events.   I listen to plenty of podcasts from the others....and they seem legit as well, if you apply the knowledge.

Here's the list of gurus I have:

Brad Sumrok- Rat Race 2 Retirement...expensive, but I personally know lots of success stories. I’ve been to his seminars and thought they were great value. Normally in Dallas area.

Michael Blank-

Mark & Tamiel Kenney-Think Multifamily out of Dallas.

Steve Davis-Total Wealth Academy out of Houston. I’ve been to several of their events and thought they were top notch. His full day Wealth Mastery Class is one of the best classes I’ve ever attended. As much about life goals as real estate goals.

Lifestyles Unlimited--lots of success stories there too, but expensive....Sumrok and Davis and many others came out of Lifestyles program.

Rod Khalif- out of Florida.

Jake and Gino-

Joe Fairless- Best Ever Conference

Plenty of people on BP have been to one or more of these seminars and can give you the scoop probably on any of them. Some of them active on BP too. Many if not all have youtube videos and podcasts.

Other multifamily conferences:

MFIN—Various locations throughout the country

Vertical Street Ventures-

LFI-Left Field Investors

Family Office Club

One thought is and it is just a thought.....if you have $50,000 and are an accredited investor, instead of coaching invest as an LP in a deal.   You can learn a lot that way, learn about the sponsors, maybe you can contribute in some way to the success of the deal.  Do that once, and then be a fundraiser for their next deal.  You'll have some street cred that way and also get familiar with the numbers, reporting, distributions, pro forma vs actual results, capital stacks and communication....what you like and what you don't like.   It's probably a slower road than coaching, but it is a start....and hopefully at the end of the 5-7-10 year hold, you have some cash flow to show, hopefully 2x-3x your initial investment, some depreciation along the way.  Coaching probably speeds things up for many, but lets just say you spend $50,000 on coaching and all the coaches are in retrenchment mode right now and coach you to be pencils down.  You could very will spend that $50,000 and in the end just have some notes and notebooks and nothing to show for the money?

 Not sure which coaches you are listening to? But Jake & Gino are NOT penciled down!

They just bought a great deal in their market. We are all looking for a deal now, but the lack of inventory and sellers not meeting the market (Yet) is the issue. 

Yes, Pay to Play means if you are a beginner or lacking momentum, you need to pay to get coached by Active players who Make things happen. 

Few coaching programs were advocating aggressive Bridge debut over the last 2-3 years, and these are the ones that their members are now struggling with maturing debt. 

[Nicole Wang]

Quote from @Hadar Orkibi:

Quote from @Bruce Lynn:

Not sure what you mean about pay to play, but if you mean pay to be in a coaching program, it can be fairly expensive.  Almost all the coaches I listen to are pencils down right now.   That doesn't mean all operators are out of the game, but many are due to bid/ask spread differences, interest rates, capital raising issues, leverage, and other issues.

Brad Sumrok out of Dallas has a nice conference coming up in August/September timeframe.  Fairly cheap to attend, but of course you'll have airfare and hotel expenses...3 or 4 days depending on what level you pay.  I've been several times and thought it was an excellent event....great networking, great speakers.  About 80% other speakers and about 20% Brad.   He will try to sell you on coaching which is probably $25000-$50,000.  It's called AIMNATCON I think.  Normally I don't like guru programs, but I've seen many success stories out of Brad's program.

I think that is one thing different about multifamily vs normal fix and flip or get rich quick guru seminars.  I've seen success stories with most of them.   There are some huge failures too.  You can read about the Arbor foreclosure in Houston to see one.  There are plenty of others and there will be more in the next year or two.   There will be plenty of sponsors and investors who loose everything and maybe more than they invested.  There will be lawsuits....you may win the lawsuit, but if you have to pay expensive lawyers and spend time in Texas on the defense in a hotel, with meals and all other expenses...it will not be fun.

One thing you have to think about is if you are an accredited investor or hang out with plenty of accredited investors.  That will be your main sources of funds...and typically you and your friends will need to invest $50,000-$100,000 per person.  There can be exceptions, but that's probably 80% of the raises i would guess from what I see.

Of the others on this list I've only been to TWA events.   I listen to plenty of podcasts from the others....and they seem legit as well, if you apply the knowledge.

Here's the list of gurus I have:

Brad Sumrok- Rat Race 2 Retirement...expensive, but I personally know lots of success stories. I’ve been to his seminars and thought they were great value. Normally in Dallas area.

Michael Blank-

Mark & Tamiel Kenney-Think Multifamily out of Dallas.

Steve Davis-Total Wealth Academy out of Houston. I’ve been to several of their events and thought they were top notch. His full day Wealth Mastery Class is one of the best classes I’ve ever attended. As much about life goals as real estate goals.

Lifestyles Unlimited--lots of success stories there too, but expensive....Sumrok and Davis and many others came out of Lifestyles program.

Rod Khalif- out of Florida.

Jake and Gino-

Joe Fairless- Best Ever Conference

Plenty of people on BP have been to one or more of these seminars and can give you the scoop probably on any of them. Some of them active on BP too. Many if not all have youtube videos and podcasts.

Other multifamily conferences:

MFIN—Various locations throughout the country

Vertical Street Ventures-

LFI-Left Field Investors

Family Office Club

One thought is and it is just a thought.....if you have $50,000 and are an accredited investor, instead of coaching invest as an LP in a deal.   You can learn a lot that way, learn about the sponsors, maybe you can contribute in some way to the success of the deal.  Do that once, and then be a fundraiser for their next deal.  You'll have some street cred that way and also get familiar with the numbers, reporting, distributions, pro forma vs actual results, capital stacks and communication....what you like and what you don't like.   It's probably a slower road than coaching, but it is a start....and hopefully at the end of the 5-7-10 year hold, you have some cash flow to show, hopefully 2x-3x your initial investment, some depreciation along the way.  Coaching probably speeds things up for many, but lets just say you spend $50,000 on coaching and all the coaches are in retrenchment mode right now and coach you to be pencils down.  You could very will spend that $50,000 and in the end just have some notes and notebooks and nothing to show for the money?

 Not sure which coaches you are listening to? But Jake & Gino are NOT penciled down!

They just bought a great deal in their market. We are all looking for a deal now, but the lack of inventory and sellers not meeting the market (Yet) is the issue. 

Yes, Pay to Play means if you are a beginner or lacking momentum, you need to pay to get coached by Active players who Make things happen. 

Few coaching programs were advocating aggressive Bridge debut over the last 2-3 years, and these are the ones that their members are now struggling with maturing debt. 

 Thanks @Hadar Orkibi for sharing your insights! Any active investors with good track record you'd recommend that would allow someone newer to participate in the deals through help raise capital?

[B Mathew]

Quote from @Bruce Lynn:

Not sure what you mean about pay to play, but if you mean pay to be in a coaching program, it can be fairly expensive.  Almost all the coaches I listen to are pencils down right now.   That doesn't mean all operators are out of the game, but many are due to bid/ask spread differences, interest rates, capital raising issues, leverage, and other issues.

Brad Sumrok out of Dallas has a nice conference coming up in August/September timeframe.  Fairly cheap to attend, but of course you'll have airfare and hotel expenses...3 or 4 days depending on what level you pay.  I've been several times and thought it was an excellent event....great networking, great speakers.  About 80% other speakers and about 20% Brad.   He will try to sell you on coaching which is probably $25000-$50,000.  It's called AIMNATCON I think.  Normally I don't like guru programs, but I've seen many success stories out of Brad's program.

I think that is one thing different about multifamily vs normal fix and flip or get rich quick guru seminars.  I've seen success stories with most of them.   There are some huge failures too.  You can read about the Arbor foreclosure in Houston to see one.  There are plenty of others and there will be more in the next year or two.   There will be plenty of sponsors and investors who loose everything and maybe more than they invested.  There will be lawsuits....you may win the lawsuit, but if you have to pay expensive lawyers and spend time in Texas on the defense in a hotel, with meals and all other expenses...it will not be fun.

One thing you have to think about is if you are an accredited investor or hang out with plenty of accredited investors.  That will be your main sources of funds...and typically you and your friends will need to invest $50,000-$100,000 per person.  There can be exceptions, but that's probably 80% of the raises i would guess from what I see.

Of the others on this list I've only been to TWA events.   I listen to plenty of podcasts from the others....and they seem legit as well, if you apply the knowledge.

Here's the list of gurus I have:

Brad Sumrok- Rat Race 2 Retirement...expensive, but I personally know lots of success stories. I’ve been to his seminars and thought they were great value. Normally in Dallas area.

Michael Blank-

Mark & Tamiel Kenney-Think Multifamily out of Dallas.

Steve Davis-Total Wealth Academy out of Houston. I’ve been to several of their events and thought they were top notch. His full day Wealth Mastery Class is one of the best classes I’ve ever attended. As much about life goals as real estate goals.

Lifestyles Unlimited--lots of success stories there too, but expensive....Sumrok and Davis and many others came out of Lifestyles program.

Rod Khalif- out of Florida.

Jake and Gino-

Joe Fairless- Best Ever Conference

Plenty of people on BP have been to one or more of these seminars and can give you the scoop probably on any of them. Some of them active on BP too. Many if not all have youtube videos and podcasts.

Other multifamily conferences:

MFIN—Various locations throughout the country

Vertical Street Ventures-

LFI-Left Field Investors

Family Office Club

One thought is and it is just a thought.....if you have $50,000 and are an accredited investor, instead of coaching invest as an LP in a deal.   You can learn a lot that way, learn about the sponsors, maybe you can contribute in some way to the success of the deal.  Do that once, and then be a fundraiser for their next deal.  You'll have some street cred that way and also get familiar with the numbers, reporting, distributions, pro forma vs actual results, capital stacks and communication....what you like and what you don't like.   It's probably a slower road than coaching, but it is a start....and hopefully at the end of the 5-7-10 year hold, you have some cash flow to show, hopefully 2x-3x your initial investment, some depreciation along the way.  Coaching probably speeds things up for many, but let’s ealjust say you spend $50,000 on coaching and all the coaches are in retrenchment mode right now and coach you to be pencils down.  You could very will spend that $50,000 and in the end just have some notes and notebooks and nothing to show for the money?

A couple of these groups have had one or more foreclosures or capital calls. Google the names and add “foreclosure”, “lawsuit”, etc. The Real Deal has some articles on multifamily deals in Texas going south. Mainly due to aggressive underwriting as apartment prices shot up and they started getting floating interest loans to make the numbers work. Morningstar apparently has a database of multifamily loans that are not performing. Anyone know how to access?

Would be great to crowdsource a list of known deals and sponsors with troublesome financial situations. A lot of these syndication networks keep the list of investors secret, so it’s difficult to discuss the deal with each other. 

[Scott Trench]

I wonder what @Melanie P. will have to say about this thread? 

Like, are investors really going to give multifamily gurus who are actively in process of losing tens of millions, hundreds of millions or billions of dollars of investor capital, tens of thousand of dollars for their paid mentorship program? 

I can't decide what's worse: 

- Giving a Multifamily guru who is losing tens or hundreds of millions of dollars of investor capital in their deals $50,000 for coaching

- Giving a Multifamily guru who is losing tens or hundreds of millions of dollars of investor capital $50,000 to invest in their next deal. 

How are we here having this discussion like it is the most normal thing in the world to be naming people who made ridiculously irresponsible decisions over the last 5 years as good candidates for OP to ask for mentorship from?

How are we here having a conversation like it is even ok to let the statement "Multifamily is Pay to Play" in the first place?

[Brian Burke]

@Scott Trench this thread started a year ago.  Parts of it didn’t age well, and is somewhat indicative of how the industry became into the position in which we find it today.

[Gino Barbaro]

@Brian Burke

It depends upon the education company. It seems as if we're one of the only groups out there that sign up students, and don't pitch them our deals. We don't raise from students, the students are there to learn and use the community to share and partner up.

I find it disingenuous when all educators are lumped together. We aren't all the same, and I've seen more than one market cycle. 

Choose your community wisely. I would not be here without joining mentorship groups back in 08 and learned the business. Joining does not guarantee success. You need to put in the work.

We've got to catch up Brian! Haven't seen you since you spoke at MM4!

Gino

[Hadar Orkibi]

 Thanks @Hadar Orkibi for sharing your insights! Any active investors with good track record you'd recommend that would allow someone newer to participate in the deals through help raise capital?

What is asked above could be easily looked at by the SEC as breaking the law. @Nicole Wang I highly recommend that you educate yourself about the SEC rules and the differences between Rg D, 506B, and 506C, etc.

Pay-to-play is somewhat true because when you join a good coaching program, which is an active community, and surround yourself with fellow investors who are actively looking for deals, opportunities will naturally cross your desk. It will be up to you to vet the potential deal sponsors/partners and Underwriting properly to make sure it's a good fit. That is why you should, at the bare minimum, understand multifamily deal analysis, also called "Underwriting."

Any coaching program that promotes Multifamily investing as a way to quit your day job in 12 months easily should be avoided as fast as possible! You also want to hear how they recommend stress-testing deals and their recommended buying criteria; being pushed into a bad deal can cost you a lot of money and grief.

Joining a good coaching program is like joining a club, but you must make sure you choose the right one, that the leaders are active investors themselves, and that it would be easy for you to have access to them. This is very important; you want to make sure you will have access to the right support when you need it, for example, help with negotiation or analyzing deals. Another thing to look out for is how their members are doing and whether they are successful and happy with the program.

I hope that helps.