All Forum Posts by: AJ Shepard

I think that the benefits of syndication are that you get to invest along side experienced real estate professionals that have done well.  Be sure to vet your sponsors to confirm this.

I would say that the benefits of sfh and mfr is that if you are buying it on your own, you are the creator of your own destiny.  If done correctly I would assume that returns would be higher than investing with a syndicator.  But most likely there will be some costly lessons along the way.

Syndication will give you exposure to real estate as an investment with not a lot of time invested.  If you go into sfh and mfr you’ll most likely need to take a more hands on approach.

 Both Brian’s here give a great explanation of the benefits and drawbacks of investing in a syndication.

We’ve had success creating companies and getting lines of credit for the company.  You may ask if you invested as a company in these syndications if a credit union or bank would give a line of credit to the company.  Generally they will want 2 years history, but if it’s something that you plan to continue to do might be a way to leverage a portion of what you have invested?  I have not done this with an investment into a syndication but have received lines of credit for other companies that invest in real estate. 

Job Description

The On-Site Manager plays an integral role in the growth and development of Uptown
Properties. Most importantly by directly communicating with clients and tenants and
physically showing them our available inventory, the On-Site Manager is the first point of

contact with most individuals that interact with our company. It is essential that an On-
Site Manager exemplifies the core values of the company. Executing at the highest level,

the On-Site Manager drives the success of the company by closing new clients and
leasing new units.

Property Manager Job Responsibilities:

• Maintains property rentals by advertising and filling vacancies, negotiating and enforcing leases, and maintaining and securing premises.
• Establishes rental rate by surveying local rental rates and calculating overhead costs, depreciation, taxes, and profit goals.
• Attracts tenants by advertising vacancies, obtaining referrals from current tenants, explaining advantages of location and services, and showing units.
• Contracts with tenants by negotiating leases and collecting security deposit.
• Accomplishes financial objectives by collecting rents, paying bills, forecasting requirements, preparing an annual budget, scheduling expenditures, analyzing variances, and initiating corrective action.
• Maintains property by investigating and resolving tenant complaints, enforcing rules of occupancy, inspecting vacant units and completing repairs, planning renovations, contracting with landscaping and snow removal services
• Maintains building systems by contracting for maintenance services and supervising repairs.
• Secures property by contracting with security patrol service, installing and maintaining security devices, establishing and enforcing precautionary policies and procedures, and responding to emergencies.
• Enforces occupancy policies and procedures by confronting violators.
• Prepares reports by collecting, analyzing, and summarizing data and trends.
• Accomplishes organization goals by accepting ownership for accomplishing new and different requests and exploring opportunities to add value to job accomplishments.

It depends, as it does with most things in apartment syndications because each deal is unique. However, there are some general recommendations for establishing a remuneration plan for the GP. The GP is divided into five sections in general. Each portion has specific responsibilities as well as a percentage ownership stake in the GP. Although all of these percentages are changeable, the following are some rough guidelines:

▪ Due Diligence Costs - if you can afford to pay for these charges upfront, that's fantastic. Pay for the expenses upfront and refund yourself later. If you can't, you'll have to hire a third party to cover these expenses or you might also ask one of your passive investors to cover the fee. You should expect to give up 5% of the general partnership to the individual who pays for the due diligence.

▪ Acquisition management - acquisition manager will generally receive 20% of the GP.

▪ Sponsor or loan guarantor - Typically, they are either offered a one-time fee at closing or an ongoing percentage of the GP. The one-time fee can be as low as 0.5% to 1% and as high as 3.5% to 5% of the principal balance of the loan paid at closing. The ongoing percentage of the GP can range from 5% to 20% or higher. The riskier the deal and the riskier the financing, the higher the compensation.

▪ Investor relations - Generally, 35% of the GP is allotted to investor relations. In some deals where multiple people raise money for the deal, they are also doing other activities that can justify their percent ownership of the GP

▪ Asset management - Generally, the asset manager receives 20% to 35% of the GP.

Again, these are the general compensation figures for the five segments of the GP. Everything, however, is negotiable and will differ from deal to deal.

Uptown Properties is looking for a Maintenance Manager.

Mission: Provide exceptional service to both clients and tenants by verifying completion of work orders and turnovers in a timely efficient manner.

The Maintenance Manager will be responsible for completing the following tasks, simplifying them, and documenting them in our Handbook:

• Communicate with the team on all necessary work order updates
• Able to foster a relationship between the company and the clients
• Support billing staff and ensure properties, tenants, and clients are properly invoiced, resolve issues that arise with billing
• Participates in Core Focus of Property Management and growing investors and investor network
• Create and foster relationships with new subcontractors and new employees
• Resolve issues arising from work orders and communicate with owners, tenants, and vendors about issues
• Assimilate weekly reports and send all necessary meetings

Skills Required:

• Take initiative
• Clear and effective oral and written communication
• Proficient use of word processing and computer hardware and software
• Knowledge in using AppFolio is a plus

Qualifications:

• Experience in facilities maintenance, property management, or customer service role is preferred
• Experience in managing service delivery for labor such as electrical, HVAC, plumbing, or roofing is preferred
• Must be punctual, reliable, and caring about their work ethic
• Ability to communicate effectively and efficiently
• Can handle pressure at work
• Good coordinating skills
• Has good judgment and good strategic handling in difficult maintenance issues
• Is very thorough in handling and giving instructions to the maintenance team, and ensuring proper delegation to team members

Job Type: Full-time

Salary: $30,000.00 - $36,000.00 per year

COVID-19 considerations:
Everyone in the office is encouraged to observe social distancing and wear face masks especially when interacting with property owners, tenants, and/or potential clients

Location: Portland, OR

Property Portfolio Facilitator

Our company is a combination of Property Management, Real Estate Brokerage, and Construction. We are looking for someone who is organized and has great communication skills. Someone that is willing to put in the extra effort to make sure the job is complete. We are in need of a Property Portfolio Facilitator to take over the following responsibilities including but not limited to:

Responsibilities:

• Assist Business Development Manger in bringing on new properties

• Onboard properties within 4 hours of a newly signed contract

• Generate a checklist with deadlines and reminders of next steps to get the property working

• Review checklist daily and complete minimum next step for each task

• Assist with leasing and ongoing management of a new portfolio

• List properties within 24 hours of receiving suitable photos

• Perform Scope of Work Inspection, Move-In, and Move-Out Inspections appropriately. Move-Out Inspections must be processed within 48 hours of move-out

• Maintain at least a score of 4.5 (9/10) star rating for all online reviews

• Maintain real estate database and files (both hard copy and electronic) to ensure all required documentation, including legal documents and related correspondence, are properly stored and accessible

• Track and report key property portfolio information such as contact details, area, location, expirations, etc.

• Actively participate in meetings and coordinate property concerns

• Maintain ownership of projects and coordinate with different members of the team to ensure timelines are met

• Work with the Business Development Manager, Project Coordinator, and Customer Service Team to help manage the client relationships and assist with portfolio reviews as needed.

• Correspond with property owners, landlords, neighbors, and brokers to maintain strong relationships, resolve issues, and negotiate property-related concerns

• Handle all requests accurately and completely within the agreed timelines while staying in constant communication with all stakeholders

• Proactively seek to close out current projects and work on deliverables until tasks are met, and manage tracking reports

Skills Required:

• Take initiative

• Clear and effective oral and written communication

• Proficient use of word processing and computer hardware and software (e.g., MS Office, Google Sheets, etc.)

• Knowledge in using AppFolio is a plus

• Time management, organization, and prioritization skills

• Ability to work effectively both independently and as part of a team

• Ability to meet deadlines and multi-task

• Ability to follow directions and pay close attention to details

Qualifications:

• Experience in property management is preferred

• Experience in handling and completing property projects

• Must be punctual, reliable and caring about their work ethic

• Ability to critically think and problem solve

• Ability to communicate effectively and efficiently

Job Types: Full-time, Commission

Salary: $3,000.00 - $5,000.00 per month

COVID-19 considerations:
The office is regularly sanitized, social distance is observed, and wearing of facemask is encouraged.

Location: Portland, OR

I would suggest looking into what your state requires for a license if any.  Typically in most states this is like a real estate sales license, and can sometimes be associated with that license as well. 

Next is network with other property managers.  You will be able to find these types of people at a local meetup in your area or through additional associations such as NARPM, ULI or IREM.  Look up the meetings and try to attend one if they will let you. 

We started out buying our own real estate as investors and then started a property management company after we determined it was more than a part time job.  We still believe that investing in real estate is the highest potential for growing wealth and prosperity, but it doesn't hurt to make an additional buck along the way providing services to other people.  

See updated details of the event.

Register in advance for this webinar:

7/15 @6pm | The importance of Home Inspection #1006 (1ce) - Chris Barry

After registering, you will receive a confirmation email containing information about joining the webinar.

@Brittney Williams,

I would suggest investing in Syndication deals to put your capital to work and will not take too much of your time. You just need to find the right syndicator with a good track record. You should check out https://verivest.com/, they do background checks for sponsors and verify critical information to help you decide where to invest and track how your investment is being managed. You can start with books like "The Hands-off Investor" by Brian Burke and also listen to podcasts like "The Real Estate Syndication Show" by Whitney Sewell. They can definitely add insight on investing with Syndications. Hope this helps!