All Forum Posts by: Kris Benson

Thanks @Jameson Arnold.  Please email me at [email protected] and we can set up a call to discuss.

Kris Benson

BP Community,

Need some property mangement options for our 64 unit apartment complex in Rome, NY!  We are breaking up with CRM Property Management (located in Rome) and need to evaluate some other options.  Any groups operating out of Syracuse or Utica, NY may also be an option.

Any apartment owners with experience with property management experience in Central NY would be great!

Best Regards,
Kris Benson

Reliant Self-Storage Fund II is projected to return 12-15% annual cash on cash returns over a 6 year hold period including the profits from the sale of the portfolio and 4-7% annual cash on cash returns through quarterly distributions.

The fund will have 3 classes of investment shares based on investment minimum.

• Class A $5,000,000 minimum with 8% Preferred Return with 80/20 waterfall split
• Class B $1,000,000 minimum with 8% Preferred Return with 75/25 waterfall split
• Class C $50,000 minimum with 8% Preferred Return with 70/30 waterfall split

For the first $10,000,000 invested in the fund every investor will receive the Class A shares regardless of investment amount.

Please visit https://www.reliantinvestments... to access the recorded webinar, investment summary and due diligence documentation on the properties currently under contract.  If you have any questions please reach out to [email protected].

BP Community,

Reliant Real Estate is excited to announce Reliant Self-Storage Fund I, a self-storage acquisition fund with a projected 16% a year return including sale of the properties. We have already closed on 5 properties and we are launching our second tranche of funding.  If you are interested in learning more about the fund you can click on this link below.

https://www.linkedin.com/feed/update/urn:li:ugcPost:6546426466287013888 .

From here you can download the investment summary, watch a video webinar on the fund, and see the due diligence documents on each of the properties in the fund.

If you would like more information on our firm or to schedule a call please visit www.reliantinvestments.com or email me directly at [email protected]

Best Regards,

Kris Benson

This investment is being offered pursuant to an exemption from registration under Regulation D of the Securities Act of 1933, specifically Section 506(c). As such, only investors who are verified as being “accredited investors” (pursuant to verification proceeds promulgated by Reliant) will be able to invest in this opportunity (and only upon receipt, review and execution of the definitive offering documents).

@Jesse Winters I think the response from @Brian Burke and @Ian Ippolito are both spot on.

I am going to do a bit of plugging for the both of them.  You should look up Ian's group, The Real Estate Crowdfunding Review as they offer a fantastic network of like minded investors doing smart due diligence on projects across the spectrum of asset classes.  A great place to learn and network.

I think in my experience you just need to connect to the world you hope to invest into.  Brian's direction about where you can do that are a great start.  Educate yourself on what makes a great sponsor.  

What is their historical track record?

How long have they been around?

What is the performance of their current portfolio and what is their strategy for the next downturn?

What type of people are you partnering with?  This is one that is a bit more touchy feely but in my experience has been valuable.  When things are going well everyone is friends, you need to understand how the operator of the syndication will react when things DONT go as planned.  Talk with the sponsor and try to understand who they are as people as well as how they conduct business.

This is just a start and I would encourage you to jump in and start talking with syndicators and get some different perspectives.  

Syndication has a low barrier to entry (essentially legal fees), take your time and make good decisions on who you are partnered with!

Good Luck!

Kris

@Garrett Jess I think it depends on the type of project, size etc. you are planning on doing in the storage space.  We are working a large group of lenders in the loan range of $5-$20MM and typically we are seeing about 30% down.  

Interest rate is dependent on what type of loan we are looking for (bridge loan, long term, etc.) but I would say we are in the neighborhood of 4.85-5.25% right now.  A 25 year loan amortization is reasonable.

I would say the banks comfort level with you as an operator is going to be a big determining factor in the terms they offer you.  I think you also need to factor in the business plan with the project you are looking at.  If you are planning a value add and hope to refinance than you may want to look at a bridge loan (shorter term) product so you won't get hit with large prepayment penalties.  If its a stabilized asset that you are going to buy and hold try and get along term note so you can ride out the inevitable interest rate volatility.

How we typically look at debt is finalize our business plan for the project first and then work with lenders with the terms that offer us and our investors the most stability throughout the projected term of the project.

Hope that helps.

Kris

Calling all 1031 Experts!

I am trying to learn more about the world of 1031 exchange.  We are a successful commercial self-storage operator out of Roswell, GA.  We typically syndicate our equity requirements for our acquisitions through accredited investors and institutional investors.

We have never done any TIC or DST and are very interested in learning more about how to find investors who are looking for 1031 like kind exchanges. We have a very strong track record and I would think would be a very attractive opportunity for people looking to do an exchange.

Typically how do investors who are looking for an exchange find the next project?  Are they going through a QI or are there firms that specialize in these offerings?  My search on the Google didn't come up with any concrete examples....

Looking for some help from the BP community!!

Thanks for the help,

Kris

@Jared Hartley I can help.  Feel free to PM me with your email address and I would be happy to discuss with you....

We are a top 30 self storage operator in the U.S. and have done quite a bit of development.  

Kris

@Account Closed

Boom!  You should just drop the mic and never post again!  Well said

Love the recap and insight into how we got here. I 100% agree that where people are going to get into trouble is with LTV. I have seen some Crowfunding deals that make me cringe when I see the going in LTV and rent growth assumptions driving their NOI and DSCR.

While we would all like to be like Warren Buffet sitting on $12 Billion in cash waiting for the impending correction, we still need to produce income generating opportunities for our investors.  For investors and syndicators alike make sure you are not putting yourself at risk with leverage to get into a project.  

Every real estate project is a good deal in 20 years, you just have to get there.  

Kris

I have had significant experience with Equity Trust over the years for both my own SD IRA investments and a bunch of our investors. I have to agree that the customer service has been difficult but most recently I was assigned one point of contact who manages the entire process for me and my investors and it has changed the game for me with Equity Trust. She is very responsive and her follow up is exceptional. We have probably funded 20+ SDIRA investments since April and all went through without issue.

I would reach out to equity trust and see if you can get assigned a personal point of contact if you plan to use them for the foreseeable future.  Would be happy to connect you with my contact there if you think it would help.

Kris