Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Multi-Family and Apartment Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 8 years ago,

User Stats

82
Posts
122
Votes
Evan Kline
  • Real Estate Agent
  • Winston Salem, NC
122
Votes |
82
Posts

New to Syndication but have a deal

Evan Kline
  • Real Estate Agent
  • Winston Salem, NC
Posted

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?

Loading replies...