All Forum Posts by: Ashley Wilson

@Kay Kay Singh thank you kindly for the link and for the tips!!  We have professional presentation material already, and we created a couple of webinars too.  I will take a look at the Joe Fairless link you sent too! I have been listening to a lot of podcasts recently on apartment syndication (and obviously several of them are from his show:)).  Thank you so much for your time again!

@Brian Adams thank you so much for reaching out to me today! You have no idea how much that meant to me! I also want to thank you for all of the great tips.  Your phone call, and the time you spent with me at the Mid Atlantic Summit were very educational.  I look forward to meeting up with you at the next SIA!  

Hi Gregory:

While I appreciate your input, if you reread my question I was looking for help converting my network, not for you to belittle my experience.  This is my first time stepping up to a small part in a GP, from previously being a LP.  The BP community has always been a place for people to gain support from others, because everyone starts with their first deal, even Blackstone.  

That being said, here are my responses:

1.  These types of deals have a whole team of people involved in the process.  Anyone who has invested in large syndications previously, which it seems like you have, knows that generally the GP team is comprised of very experienced professionals, which this situation is no different.   If you look back to my initial question, it concerns converting my personal network of accredited investors with no real estate investing experience.  From my over ten years of fundraising for non-profits, and private institutions for multiple organizations and for multi-million dollar funds, the number one reason people convert to donating is based on the relationship you establish.  From everything I have read/listened to on raising funds for syndication, a pre-established relationship seems to be the most important component to getting one to invest.  And while I agree that speaking with an experienced syndicator is also a valuable component, many syndicators outsource the fundraising.

2.  Yes, the majority of their experience is in large complexes.

3. They have experience in Texas already, and they have partnered with one of the largest PM groups in the area.

4. Cap rate from T12 is 6.8. This was an off-market deal, brought to our group by a broker.

If you want to have a more in-depth conversation please pm me. 

Thank you Michael for your response. This is the first time this group of people are putting together a deal: however, the people of this have tremendous experience. One person alone has been investing since the 80’s and has at one point had over 5,000 doors across four states! Another person currently has over 1,200 doors!! So the members who make up the GP are definitely seasoned syndicators. 

It is 506c. 

Hi BP Community! I am partners in a local Philadelphia group that has an apartment deal in Houston, Texas, and is currently in the capital raising stage.  While I have a network of accredited investors that I am speaking to currently, many of them have never invested in real estate before.  I am wondering what is the best way to convert them from interested to invested?  This is the best deal that I have vetted to date; however, when I go over the details with people, most think that it is too good to be true.  

A local Philadelphia group we are investing with is under contract for a 284 unit apartment deal in the suburbs of Houston, Texas. We are looking for accredited investors to help with funding the deal. Projected returns are 17% IRR, with a 1.9 multiplier. The underwriting is VERY conservative, and the fundamentals are the best we have ever seen on an apartment deal.  Here is just a sampling (current occupancy is 94-97%; unit prices are ~$150 below market rent, comp occupancy is a minimum of 94%, there are ZERO building permits in for new construction, the city is directly in the path of progress, both buildings are adjacent to schools, etc., etc.,).  If you are an accredited investor and interested in hearing more, please pm me and I will respond with more information (webinars, materials, etc.).    

@Craig Drummond Congratulations! Of course the pictures, and numbers are impressive, however, the negotiation/creativity in your offer is what is most impressive!!! Good luck for a speedy sale!

We cannot wait to attend this event! To have all of these great people in one room, is really going to be quite an experience! Looking forward to it!! 

Percy- let us know about the next one...for some reason we only saw this posting this morning.