Need advice from Property Managers, Business Brokers and Lenders!

[Patricio Tellez-Giron]

I need Property Managers, Business Brokers and Lenders to give their opinion on this strategy, please.

I'm working with a large Business Brokerage firm to put this deal together and my broker tells me is totally doable. What do you think?

So, the idea is to buy a reputable Property Management Company to gap my lack of creditable experience and lack of credit, in order to get financing for buying 20 to 50 unit Multi Family properties. After we buy it, we would contribute some equal amount to strengthen its balance and then leverage to buy units.

I would also bring a local property management company on board to take over the PM business and operations; and use the company's income, credit and track record to get around my lack experience and credit. Same thing some expats do when when they have been out of the country for many many years.

Why, you might ask? I want to do this because I lived abroad my whole adult life and I just moved back to the US last year. I do not have income and I do not have stablished credit. I've had credit for less than a year and haven't filed income taxes yet, my first filing will be for 2015.

This way I will have the income, experience, business history needed to get loans and show operating capability, and I could use that company for all our real estate transactions.

Another advantage would be having the manpower to purchase buildings and keep the management "in house", while at the same time having some income from the existing management  contracts they have in-place.

I am looking for a company with at least 5 years in business, cash flowing 300-400K, healthy financials and no debt. Preferably with assets and a good staff in place.

I have been doing flips for the most part in NV, NC and soon TX but there is no way I'll be able to invest the money I need to, just by doing flips and it is too risky anyway.

I could also buy a bunch of SFH to rent them out but I think the operations and CapEx will be more manageable with Multi's.

Although I am not a new to investing in real estate, this is definitely something new for me. I have been investing in Vegas for two years and I've bought and sold property, managed vacation rentals and I am currently building SFH in Mexico.

Is it smart? Is it doable?

Oh, and I haven't taken this idea to my attorneys or accountants yet... I want to be sure I can get this done before paying by the hour.

Looking forward to your comments.