Multi-Family Syndication Northeast Ohio

[William Washington]

I am coming up on 3 yrs in my real estate career. I recently came to the realization that I only have 6 units and my goal was 20 units before age 30 and I just turned 29. Syndication has been my goal from the beginning of my real estate venture. I am putting together a deal now and I have 2 individuals who want to invest with me. I am considering 2 value add properties in the Youngstown area. One is a 12 unit with some cosmetic updates but lots of differed maintenance and the other is a 13 unit with under valued rents and needs some updating. I am trying to secure financing in this area does anyone have suggestions for this market.

To the experienced Syndicators: What percentage of preferred return do I offer investors/equity partners in a deal split between 3 partners I have been seeing 6-8% consistently. However being a first time operator what do you experienced operators suggest for my position? Should I be paying more considering that this is my first deal like this?