All Forum Posts by: Ade Babasola

I am starting out in Canada and eventually expanding to the US. So currently building network both in Canada and the US. My wife and I have a few SF units here in Canada. 

Our first syndication is not your typical. It’s a group of friends and families who have been investing in single family in Canada. Thanks for your advice.

Thanks Roy for your comments. I have been educating myself. Read many books, listened to several podcasts and I’m attending a boothcamp in May on multifamily in Denver. I have an accountant and an attorney supporting me. I am also a member of other multifamily syndication groups. I also have mentors. My current group of investors are long term friends and families. I guess there is no end to learning and knowledge aquizition. However taking action is the best way to learn. My question is more about future purchases rather than the current one; put all deals under one corporation or different corporation per deal? Thanks, Ade

I am currently working on registering a corporation to syndicate deals in Canada. 

How has your experience been?

Question on structuring a syndication group: I live in Ontario Canada. We do not have LLC option in Canada only Corp and LP. I am currently registering a corporation and was wondering if all deals purchased will be under a single corporation or register different corporation per deal. If under one single corporation, how do I handle different investor mix per deal? For the first deal, investors get shares of the corporation. Subsequent deals may became complicated if issuing single Corp shares for all deals. Thanks for insight, Ade.

Question on structuring a syndication group. I live in Ontario Canada. We don't have LLC option in Canada. Your only structure option is LP or Corp. I am currently in the process of registering a Corp for a syndication group.

My question is, for a Corp, do you issue shares to all your investors in the Corp for a deal? What if you want to purchase another deal with different investor mix, how do you deal with issuing  additional shares, at what share values, do you add the new investors to the Corp as directors if they want to be passive active? Or simply just register a new Corp for each deal? 

Thanks for your insight.

Ade

@Zachary Bellinghausen

Thanks for posting this question. I have reviewed all the comments and enriched my knowledge.

Is there a MF syndication forum in BiggerPockets?

A question I have is; at what point would you as a sponsor put your investors money in another sponsor’s deal rather than reinventing the wheel and doing it yourself? Especially if the other sponsor has found a great deal and in need of equity partners and you are finding it difficult to find a good deal. What role would you prefer to play in the other sponsor’s org structure; active, passive?

Appreciate your responses.

Thanks. Will be in touch shortly

@Cassidy Logsdon

Hi Cassidy,

I was wondering if there are great multifamily deals in Windsor.

I would be interested in looking at the numbers. My team is looking for 25 - 50 units apartment property (B/C class stabilized property) that is cash flowing and with value-add opportunities.

Thanks,

Ade

Hi Russell,

I am currently going through similar process as I am venturing into multifamily  real estate investing through a syndication group. We are in the process of registering a corporation. You will either guarantee the loan personally or get a sponsor to guarantee it. If buying  8 plus units property, this is considered a commercial property. Commercial loan doesn’t depend on your credit score. It’s based on the financials of the property. 

Hope this helps.

Cheers,

Ade 

@Angelo Russell

I think you may want to spend sometime educating yourself before getting started. Read books and attend workshops.m in the subject.

A good book that will give you the basics of multifamily investing is “The ABCs of Real Estate Investing” by Ken McElRoy.

There are many free YouTube videos on real estate syndication you can also watch.

Wish you abundant success in the pursuit of your goal.

Cheers,

Ade