All Forum Posts by: Joseph Sherer

Abou, What type of multi family are you getting into? The college market is a niche but I think there are sub-niches within the college market. Do you know what types of students you want to market toward? I haven't found any student housing specific links but would also be interested in hearing where others who are into student housing post. A good property manager will be the key to your success as you grow. More specifically, one who is very familiar with student housing. Initially you will be able to take care of all the necessities but keep your ears open regarding quality property managers. There are several opinions on legal protection. As you start out, my opinion is that you take out an insurance policy in addition to the property policy. PM me with any questions. I enjoy discussing this stuff and will be happy to toss in my two cents.

In my case the partner brings a physical presence to our investing area. I will be gone for 4 years and will not be able to watch over the existing properties while also on the lookout for acquiring new properties.

In your case, could you offer a low percentage to all the potential partners willing to supply capital and see where your counters come in?

Over the last 5 years we (my wife and I) have acquired 5 properties that we rent to college students. I graduate medical school in one month and will be moving 7 hours away for a 4 year residency. My business partner has been very involved in day to day operations and rehabbing while becoming more familiar with the big picture strategy of acquiring new properties. We have in place a property manager who is very familiar with college students. My question is: how do we structure future acquisitions with my partner in the mix? He has little credit or capital. So we would be using the relationship I've established with a local bank as well as our capital. I am willing to put the partner on future loans. The way I see it there are 2 pools to split: equity and cash flow? Any suggestions will be much appreciated.