All Forum Posts by: Charles Seaman

@Adriel Cisneros If the people that you're referring to are all friends that you have preexisting, substantive relationships with, then you can invite them to invest with you in a 506(b) offering.  Just make sure that you document any evidence of your preexisting, substantive relationship with them.  This will important if your records ever get audited by the SEC.

@Thuy Tri It might be conservative for new construction, but keep in mind that insurance premiums have been on the rise over the last year and Hurricane Ian will certainly keep them high for the foreseeable future.  Aside from flood zones, the age and condition of the property, the crime score in the surrounding area, and any potential liabilities will all be things that could negatively impact your insurance premiums.

I messaged you the insurance brokers that I work with.  In general, I wouldn't recommend giving any deal to more than two (2) insurance brokers because there's only so many carriers that are going write policies for these deals.

@Alex Khodnev You're definitely not the only one experiencing this right now.  In my estimation, many deals are overpriced.  While there might be a few unicorns, be patient.  The uncertainty in the market will fade.  When that happens, the market will either see continued demand that leads to strong buying activity or prices will drop to reflect the new market conditions.  Either option will provide good buying opportunities.  Continue building relationships, continue looking at deals, and be ready to strike when the right opportunity presents itself.

@Jerry Fung The reason for this is because larger apartment buildings have more demand from buyers.  The greater demand causes higher prices, which results in lower cap rates.

@Dylan Murray What exactly are you looking to get out of working with a mentor?  Are you looking for basics about syndication?  Are you actively working the business and getting stuck somewhere?

@Cristian Rocael Carrillo lives in VA and can offer some insight about finding deals there.

@Stephen Brown A strategy is only as good as one's ability to execute it.  The property size/type and the geographic region that you're looking for deals in will definitely limit your deal flow.  This isn't a bad thing, but it will certainly require more patience.  If you only have a single funding source, then you're somewhat limited with what they want.  If you have multiple funding sources, then looking for deals in different markets and/or different sizes/types of properties can be option.  So start with the big picture in mind and then reverse engineer your course to figure out what action is needed to get there.

@MJ Clyburn Yes.  Reach out to Marianne Russo.  I'll message you her contact information because I can't post them in the forum.

@David Maske and @Ryan G Thomas  I still host them each Saturday at 4:00 P.M. EDT.  Send me a message and I'll give you the registration link.