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All Forum Posts by: David Battle

David Battle has started 67 posts and replied 170 times.

Post: Syndications

David BattlePosted
  • Realtor
  • Tampa, FL
  • Posts 175
  • Votes 20

@Jared K. Where did you learn how to syndicate deals? Can you help me please?

Post: Syndications

David BattlePosted
  • Realtor
  • Tampa, FL
  • Posts 175
  • Votes 20
Originally posted by @Brian Burke:

I do a few syndicated multifamily deals. Did two last year, one was a 54 unit property, the second was 136 units. I'm selling the first one because my investors will get a higher IRR if we exit now than if we were to carry it to its intended 5 year term. Their IRR will likely exceed 50% if nothing changes, escrow closes next month so I'll know for sure after everything is distributed.

My second deal last year was less of a value add and more of an income investment. The investors are getting an 8% pref that so far has been 100% distributed with no accrual. After resale in 2016 their IRR should be in the low to mid 20% range if all goes according to plan.

I think the common pitfalls primarily relate back to the sponsor. What is the sponsor's track record? Experience? Financial strength? Alignment of interest? Is the PPM properly drafted? Are all of the risk factors disclosed and understood? Is the sponsor complying with SEC requirements for Reg D offerings? Are the financial projections well thought out, and are they reasonable or pie-in-the-sky? Too many syndications underperform or lose money due to inexperienced sponsors modeling their deal with rosy projections.

I'll be doing another one within the next few months, as we'll have completely cycled our 54 unit deal and our investors will surely be looking to place that capital into a similar investment.

 Hi Brian,

How do you structure the deals? How do you find the investors willing place capital into your ideas? How do you create a track record if you're new to syndication? Where do you go to learn about syndicating deals?

Post: Looking For Wholesalers And Buyers

David BattlePosted
  • Realtor
  • Tampa, FL
  • Posts 175
  • Votes 20

@John Thedford the only good deals on the MLS here are usually REOs but everyone goes after the same properties. I work for an REO team here in Tampa. One of the best actually. The Griffin Group

Post: Looking For Wholesalers And Buyers

David BattlePosted
  • Realtor
  • Tampa, FL
  • Posts 175
  • Votes 20

I don't mind wholesalers making money off the deal if they bring me something I wouldn't have found on my own. As long as the margins are good and they aren't trying to sell me something for retail price. I know investors here in Tampa who get properties off the MLS under contract then market them for over retail price to buyers who don't know any better. I removed myself from their list. Don't send me BS saying it's a deal.

Post: Looking For Wholesalers And Buyers

David BattlePosted
  • Realtor
  • Tampa, FL
  • Posts 175
  • Votes 20

@Carlos Coppin Jr do you have a buyer's list? If so can you add me to it please.

Post: Looking For Wholesalers And Buyers

David BattlePosted
  • Realtor
  • Tampa, FL
  • Posts 175
  • Votes 20

Hey Guys,

I'm looking for wholesalers and buyers working in Jacksonville, Miami, and Orlando.

Post: Approved Short Sale It's Ready To Go

David BattlePosted
  • Realtor
  • Tampa, FL
  • Posts 175
  • Votes 20

https://www.coldwellbankerhomes.com/fl/tampa/4236-e-palifox-st/pid_12693122/

Post: Paperwork Needed For Contractors & Investors

David BattlePosted
  • Realtor
  • Tampa, FL
  • Posts 175
  • Votes 20

Hey @Manolo D. I recently bought the book called FLIP by Gary Keller that I'm reading right now. Do you have the contracts that @J Scott attached to his blog post? Where do you obtain unconditional waivers?

Post: Paperwork Needed For Contractors & Investors

David BattlePosted
  • Realtor
  • Tampa, FL
  • Posts 175
  • Votes 20

Hey @J Scott 

Thank you for replying to my post it's greatly appreciated. I want to make sure I have everything in order before I put in an offer on a property and get it accepted. I just found a lender that will do a JV deal with me so now I just need to obtain all the paperwork and find a good property. I read through your blog post and it's definitely what I needed to read. I wasn't able to download the documents though. When I click on the links it opens in a new tab but it's a blank page and the files don't download. Would you mind sending them to me?

Also you mentioned that these are some other things you might want to include in your contract "indemnification against liability, arbitration in the event of dispute, rights and responsibilities to terminate the contract, required use of lien waivers, etc." Have you already included them in the contract that you provided?

Also if you hire a general contractor and he subcontracts each job out do you need to only have your general contractor sign the contracts or does each subcontractor have to sign the contracts as well?

I know I'm asking a bit much but would you mind if I directed my questions to you as I go through this process since you were the only one that responded?

Thanks In Advance,

Battle

Post: Paperwork Needed For Contractors & Investors

David BattlePosted
  • Realtor
  • Tampa, FL
  • Posts 175
  • Votes 20

Hey guys when getting ready to start a flip what paperwork do you need for the investors and for the contractors?