All Forum Posts by: Brett Deas

Coming from an Agent/team leader perspective I have found newer agents care about splits and contract support. 

Gone are the days of office fees and marketing, most everything is online and newer agents learn so much from online realtor training gurus and programs. Plus most marketing is on social media these days and the newer (and younger) agents tend to excel in this area. 

Sounds like a common story right now with syndications. Not many operators were prepared for high interest rates. 

But I have a question, Why not share names? I get not wanting there to be heresy and talk bad about others but as you said, he hurt investors and will most likely spin up another syndication in the future forgetting this last one. 

I would talk to more lenders, and they will dictate how to structure it.

I would say rent each room individually. For mid-term stays that FF is used for I have never seen a group bigger than 3 bedrooms, typically big families/groups aren't gonna be the target audience of something like that. 

That being said, 5 individual bedrooms can be alot, so make sure it clear what the house/rent situation is like on the listings. I'm not experienced enough to give more help on renting out individual rooms. 

AirDNA isn't really built for MTR, the data can be skewed if you are looking at it from that perspective. 

I do find alot of mid-term tenants on Airbnb, using the monthly discount features and putting things in the listing to suggest it can attract a significant group. Also I think local FB groups for employees, and repeat travelers can do wonders. 

If you operate in the small commercial space it can be very hard to a syndication structure financed. Trust me, I run into this problem all the time. 

Most lenders want all owners over 20% to be on the loan, but that is hard because the risk from an LP perspective is extremely high if they get put on the loan. So often times you will either have to amend the OA post close to reflect the true structure (not every lender likes this, and it's best to be honest). Or structure it so that the GP's have enough so the LP's look like 'very minority partners', sometimes lenders overlook that part. 

I am wondering if there is a company out there that will help you find energy credits (I.E. green energy credits, solar rebates etc.) for a fee? We have quite a few projects with land that we want to add some solar panels to but looking in each different state/city for energy credits is to much time for us to handle, does anyone know of a company that will do this service? 

To end up co-gp a project it takes months of back and forth for me to feel comfortable. One thing I will say is as you do your first few it becomes easier to trust people and your list of people you truly want to work with gets really small. I don't venture out beyond my current 3 co-gp's because it just isn't worth my time to vet people anymore, my guess is that you will arrive at that conclusion soon as well.  

I would agree with what Zachary said about doing it slowly, and then I would add be honest with the tenants if you are concerned about them moving out. It may not matter, but giving them the true reason can at least help them understand and know your not a 'greedy landlord'. 

Is it possible? Yes, Is it probable? No.

From a lenders perspective typically they want to see you put money down, otherwise you aren't putting any skin in the game.