Large vs smaller multi family

[Marjeanne Fields]

Does anyone have experience in large multi family? We have been buying 50 units to 100 units. But I've heard getting larger deals can actually be easier for funding, finding investors, etc. Just wondering if there are folks out there willing to share their experience in the larger product space. Especially those overeating in the West coast.

[Brian Burke]

I wish I had a magic pill for you, @Marjeanne Fields, but unfortunately I don't.  It doesn't matter how great a deal is, investors invest in people, not deals...which means they want to see past performance, experience, history in the business, all of that stuff.  If they see no track record they won't fund your great deal.  

Having said that, this could also mean that you are fishing in the wrong pond.  The people most likely to invest in your deal despite the lack of track record are the same people that already trust you for other reasons--such as friends and family.  If your inner circle can fund your first few deals and help you build a track record, you'll then be able to leverage that track record to attract investors that don't already know you.  But this takes time.  Not weeks, but years.  Ask me how I know...  :)

Or you could partner with someone with a track record so they can bring the part that you are missing.