How to find a partner in a 16 unit apartment building

Question

Hi everyone, I'm looking at investing in a deal in Indiana. It is a 16 unit apartment building not too far from Indianapolis. My question is, when you are looking to partner with someone to fund the down payment, what is the best way to find a partner without going to family/friends? Thanks!

Jaycee Greene · Answer

@Matt Smith No, it doesn't. The cap rate is not equal to the return for the investor (or the GP either). The return is generally presented as either the IRR, Equity Multiple, or Cash on Cash Return.

Based on your numbers above, is the seller asking $859k for the property?

Ty Coutts · Answer

Start by attending real estate meetups, BiggerPockets forums, and local investor groups to connect with potential partners. Consider reaching out to private lenders, accredited investors, or real estate crowdfunding platforms. Structuring a joint venture (JV) or equity partnership can make the deal appealing by offering a share of cash flow and appreciation.

Have you considered reaching out to local real estate attorneys or CPAs for investor referrals?

Scott Mac · Answer

How are you coming up with that much larger market rent for all those units?

Why is the rent so suppressed for all those units right now?

How much will you have to spend to make those units worth more to the renter?

Is this section 8-(or some kind of fixed income program) these units seem very low priced?

Just my 2 cents.

Deven Ziertman · Answer

Finding the right partner for a 16-unit deal without family/friends? Best approach:

1️⃣ Network – Attend real estate meetups, forums & investor groups.

2️⃣ Private Lenders/Accredited Investors – Consider JVs or equity partnerships.

3️⃣ Strong Deal Positioning – Highlight upside (cap rate, rent growth, minimal capex).

4️⃣ Professional Referrals – CPAs, attorneys, and consultants can connect you with investors.

Shaun Ortiz · Answer

Hi Deven,

Just wanted to say I really appreciated your straightforward and practical advice on finding partners for 16-unit deals. Your breakdown of networking, private lenders, deal positioning, and professional referrals is spot-on.

It's refreshing to see such clear and actionable steps. I especially like the emphasis on strong deal positioning – highlighting the upside is crucial.

I was curious, have you personally partnered on a deal of this size using these strategies? If so, any insights or lessons learned you could share would be incredibly valuable.

Thanks again for sharing your expertise!

Best,

Shaun

Jacqueline Wright · Answer

Hi Matt,

Here are a few ways to find a partner for your 16-unit deal without relying on family/friends:

Real Estate Investment Groups (REIGs) – Join local or national groups where investors look for opportunities.

Networking Events/Conferences – Attend real estate events or conferences to meet potential partners.

Private Money Lenders & Syndicators – Look for investors or syndication groups willing to partner for funding.

Real Estate Brokers/Agents – Brokers can connect you with investors seeking deals.

Online Platforms – Use platforms like BiggerPockets, Fundrise, and CrowdStreet to find investors.

Investment Clubs – Find local real estate investment clubs to meet interested partners.

Crowdfunding Platforms – Consider platforms like RealtyMogul to raise capital.

Accredited Investors – Reach out directly to investors through LinkedIn or your network.

Be sure to choose a partner with complementary skills, financial stability, and experience in multifamily investing. Clear agreements are key!

Let me know if you need more help!

Jaycee Greene · Answer

@Matt Smith If you can raise rents like that, you've got quite the opportunity for you. Now, the trick is to get an investor that believes you can raise the rents like that so easily and quickly. If you can, you can triple your investor's money in a year!

Jaycee Greene · Answer

@Matt Smith Does the property need any rehab done to it?

How to find a partner in a 16 unit apartment building

How to find a partner in a 16 unit apartment building

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