Investor in the DC area, Looking to expand into other markets

[Michael N.]

I have a couple units in the DC metro area, and want to get involved in a bulk deal in another market. Depending on the time frame, anywhere from 500k-1.2 mil. Lots of 1099 income, will have to wait till this tax season to qualify for the higher end. Typical DC area government contractor, my cubicle isn't very comfortable.

-Mike

[David Thompson]

Michael, Paul

You should take a serious look at large MF syndication as a passive investor to start, especially if you are looking for cash flow in more attractive markets out of state. You can earn and learn while achieving attractive returns. We see continued opportunities in value add plays in Texas, specifically Dallas. You can achieve 10% CoC annually and high teens to 20% IRRs. If I can be any help in educating you in this area PM me.

Remember to vet the sponsor, track record, ask for referrals, etc. I look for 3 things: market, deal and experienced team. Market should be growing, pop and jobs > natl avg; value add deals where scale is large in units, clear business plan to increase NOI, force appreciation, conservative underwriting and financial assumptions.