Raised 340K to close 1st Multi-Family Syndication!

[Cal Rohrman]

For the last 3 years investing in real estate, I had 2 major goals I wanted to accomplish: 1. Complete an apartment complex syndication & 2. Own 25 units by the age of 25. As of this week, my partner and I closed on a 42-unit apartment complex in Milwaukee, WI making 65 units under management! 

The last 2 months have been busy, raising upwards of 340K to close on this beaut. With investors, whom have never invested in real estate before resulting in tons of questions and concerns that were handled responsively. 

Our investors will plan to receive 8% ROI or more paid out quarterly with anywhere from a 5-10 yr holding period depending on the market.

Adam McCarthy did an outstanding job utilizing his sources to find the deal, secure great terms, a thorough inspection, and detailed paperwork from his syndication attorney.

Everything happened so quickly and throughout the process I was able to learn a ton of information that will help with future deals. Now, its time to start the process all over again!

[Marcus Auerbach]

@Cal Rohrman congratulations and well done! 

I am generally optimistic about the market. Maybe you have heard me talk about the future real estate market - I have taken a lot of heat online and at panel discussions for my optimistic views: everyone has real estate PTSD from 2010, but when you look at the last 5 recessions only the last one has seen massive devaluation. During the rest values went sideways or even up.

However, I am a "hope for the best, prepare for the worst" guy - and here is my point. You have grown fast over the last two years, make sure you grown deep now. Build some reserves and/or create equity through improvements and raised rents. Expand you credit basis (and let it sit idle). We may not see a real estate downturn, but there are other adverse factors that can impact you, and the last thing you want to is go backwards, because you are stretched to thin.