All Forum Posts by: Chris Brooks

Hi All,

I've found what I believe to be a good off market deal for a small apartment complex. This is my first apartment deal so I want to bring in partner(s) for capital as well as experience. However I've never pitched this type of deal. My concern is that if I pitch it to a bunch of investors someone might try and reach out to the seller and cut me out.

What would be the best practice here? Pitch the deal without giving the exact address or perhaps asking potential investors to sign some kind of document stating that they won't do anything with the specific property without me?


Has this ever happened to anyone? I'm not sure if I'm making a mountain out of a molehill.

Quote from @Barry Ruby:

@Chris Brooks Chris DM me and I’ll send you an excel workbook and 3 videos to explain how to use it.

These tools will provide you with a good foundation in learning how to underwrite ant CRE asset class.

Thanks Barry! I'm sending you a message now.

Quote from @Evan Polaski:

@Chris Brooks:  Unpopular Biggerpockets opinion...

Google the companies here: https://www.nmhc.org/research-...

Head to their website, then careers page.  Apply for job.  Assuming you get hired, you will get paid to learn underwriting and see how the biggest multifamily operators work.  A CCIM designation will certainly help with finding a job within a large company, but probably isn't mandated.  And admittedly, underwriters are typically fairly entry level roles since it is primarily data entry, but if you are wanting to learn the business, you may need to take a step back.  But it lets you sit down with the acquisitions teams, potentially with other operating teams to start to learn how they view assumptions that are being input into the model.

And if you aren't exclusively limited to multifamily, find the large office, industrial, retail or hotel operators and do the same thing.

Thanks @Evan Polaski this is what I was looking for. Would you recommend looking for a smaller company (say under 50 employees) or trying for a large company? I'd want to get the most hands on experience with all facets of how these are deals can be structured and what to look for beyond the numbers.

Quote from @Aurelien Bonin:

You could 2 things, alternatively:

1. research deals and present them to an experienced syndicator. Deal finding is the bottle neck for a lot of them right now. Then you could ask to be a co-GP to see how it is done in exchange for finding the deal.

2. If you have money to invest, you could invest in a syndicator's deal to learn the ropes. Explain to the syndicator that you would like to be involved in the due diligence process, the management and see if they are ok with it.

If there was one book to read about syndication, it would be Joe Fairless' Best Ever Apartment Syndication Book.

Thanks for the input @Aurelien Bonin. Although right now I don't think I could source a deal on my own to bring and partner with someone. I'll definitely check out the Joe Fairless book you recommended.

Hi Everyone,

I stumbled upon Bigger Pockets a few years ago and my intention has always been to eventually get into syndicating large apartment deals. I've bought and sold a few SFR and small multi-family deals but I haven't ventured into commercial RE. Despite reading several books and listening to some podcasts I don't feel confident enough that I could move into a large deal since I don't have any experience dealing with those kinds of financials.

In order to gain some experience I’m thinking about making a career change. I have a strong background in sales and project management (although not in RE) but I’m thinking about trying to become a Commercial Real Estate Underwriter. Are there any Commercial Real Estate Underwriters that think this would this be possible if I started the CCIM course and worked my way into a boutique firm? I’d love to get experience handling all aspects of finding, financing and closing these types of deals so I could learn on the job and develop a track record that I could share with investors in the future.

Would this be the best way to go about this? I understand there are coaches that I could pay for advice and to point me in the right direction but most of them rub me the wrong way. For myself, I’ve always felt that having hands on experience is the way that I learn best. I’m ok taking a pay cut to transition to a different job right now if it gives me the skill set to practice structuring, negotiating and closing the kinds of deals that I’d love to make in the future.

Does this seem like a possible path forward or is there another route that I’m overlooking? I would love to hear feedback from any Commercial Real Estate Underwriters or Syndicators on this forum.

Thanks in advance!