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Updated about 8 years ago,
New to Syndication but have a deal
I've been on the side lines for about 6 months, reading, researching, learning, etc.
I've found my first deal and hope to close within the month- duplex which will return 20-30% CoC.
I've found a second, much larger deal: a set of 6 multi-family buildings, that make up 19 units.
Location: across the street from a well respected, but small, university. The neighborhood is B- to C+, but because it's right next to the university, the crime rate is almost non-existent due to a robust campus police force.
Asking Price: 629,900
Average monthly rent: $8,600
Yearly Taxes: $6,669
Based on my analysis (but I of course could be wrong), this has a Cap Rate of over 10%, even if I include a property management fee
All my personal money is tied up currently in this first duplex. I've read here on BP syndication is a potential option, but I'm not sure the steps to take down that road.
Any thoughts/help?