Looking for first Multi Family deal and had some questions

[Dean Fiacco]

Hi All,

Have had some experience with student rentals through a partnership with old friends but am looking to go a bit bigger. Myself and two partners are looking to do a small syndication in the North Florida market and I was looking to get some pieces of advice.

#1) Any tips on sourcing deals outside of meeting brokers and letter campaigns? Any ideas on how to get brokers to move beyond thinking of you as "drip campaign" material. 
#2) We do have some folks interested in investing with us but want to make sure we're SEC compliant. Any tips on raising money from "sophisticated" investors in our network and "accredited investors" and how to not run afoul of regulations but also not run up crazy legal fees. Given that we're looking to do a smaller deal $500k-$1.2M purchase price area we wouldn't want to set up a scenario where we destroy potential investor returns. Our returns on the first deal aren't as important to us, just looking to get the track record built at this point.

Looking forward to hearing your thoughts!

[Scott Morongell]

@Dean Fiacco brokers are honestly the best way to go. You can cruise some of the sites online that list MF properties and possibly find a diamond in the rough. Some syndication attorney will charge a little less if your deal is around $500-$1.2M. You returns on this deal are very important to the LP as it sets your track record as i'm sure you have hopes of scaling up.