All Forum Posts by: Andrew Schutsky

Hi Anthony - I'd suggest first by determining what your goals and objectives are going to be over the next 3-5 years and along with that your "why" or your mean reasons behind those goals.  From there look for a target market and then develop a course of action.  If you know your goals, your plan of attack (how many units, types of properties, strategy) should become increasingly clear. 

Go after it, and we'll be here for support and guidance . :)

+100 here - education FIRST and foremost.  If you can add value in some way other than finding the deal, you might not need to bring your own funding.

If you're  planning to do the deal on your own, this would be very difficult to do with down payment, closing costs, and due diligence costs needed.

@Ellie Perlman great article and advice! I'm glad I've chosen the systems/automation route from the beginning, it's already paying off!

I would also add that to maximize the effectiveness of a CRM tool, implement a campaign that "grooms" your new investors by delivering educational material over a predefined period.  For example, I'll send a new article or investing tips every week for the first 4 weeks. I hope to expand this soon as well!

+1 on looking at partnering with an experienced operator to achieve the benefits stated above at scale.  If you're short on cash, it's completely worth considering partnering up to go bigger - there are tons of benefits besides the financing considerations noted above.  I was in the same shoes as you not too long ago looking at figuring out creative ways to buy a smaller 10-12 unit MF, but quickly realized my time was far better spent finding a partner. 

Thanks! The show name will be "Crushing Cashflow"! We are pumped to get it released, lots of hard work (but fun) upcoming over the next few weeks.  Next recording on Wednesday....  

Main updates here - picked our launch date for our upcoming podcast, March 15th! Doing a few recording this week and will be editing with the help of my great co-host, @Dakota Brown.

Just finished up with the MFIN Summit, great sessions and got to connect with some great people.

Also came into a few Co-GP opportunities, will be vetting those this week.  Big things to come in 2021!!

@James Robinson I highly recommend reading up on this topic as you will develop much further insight more quickly by doing so vs. a few forum answers.  One book I've read that I recommend is "Raising Private Capital" by Matt Faircloth. 

@Rick Martin thanks for sharing. Are you finding that in today's times (2021+) it's becoming increasingly difficult to hit 20+% returns/IRR? With the MF market being ultra-competitive these days, especially in the value add space, I see more and more deals accepted with lower targets such as 13-15% AAR.

Are you open to working with a securities attorney out of state? I do, and I can refer to you to a well known name in MN. 

Thanks for sharing your insights - funny enough I’d never really explored this market  maybe I should be doing so :)