All Forum Posts by: Brian Garrett

@Tzvi Ausubel Definitely something I've considered like I mentioned in my original post but I would only want to venture into a new market if it was with a proven operator with a strong track record and footprint there.

@Jeshua Patrick Sounds like a similar strategy to some of the funds I've seen where they borrow money from private investors at X% and loan it out at a higher Y% and keep the delta as their profit.

@Noah Chappell I have done some driving for dollars and am planning to contact those owners as well as make a list from the public records of buildings in the unit range I'm seeking and contact them as well.

@Taylor L. I know the syndication model fairly well and have looked at many OM's and had in depth conversations with many syndicators and sponsors. I was more so asking about how you would suggest finding ones who are specifically looking for help on the GP side rather than the traditional LP's that most of them are seeking out.

@Jill F. Lending money would be my least favorable option mainly for the reasons mentioned earlier in my response to John. I'd much rather buy the real estate and have skin in the game if possible.

@Chad Carrodus I've never heard of this strategy before nor have I had a broker even suggest it. Is this commonly done in your area? Have you had success with this approach?

 @Scott Krone Congrats on being able to pivot successfully and not only change strategies and asset classes but also to be able to do it in a completely new market. Did you utilize partners to help in the new market?

@Caleb Brown I'm planning to create a list of owners from our public records that fit the unit range I'm looking for and mail them as well as skip trace and text/call. I know a lot of others are doing it but maybe I'll get lucky.

@Sue Z. Unfortunately I've never had great luck in the stock market so I just withdrew everything I had invested towards the end of January this year and am looking to put those funds into real estate instead now.

@Travis Frenchak I hear ya I'm just tired of capital sitting in savings not producing any return. Congrats on the find!

@Dwayne Byrd Connect with me on PM I'd be curious to see what the numbers look like.

@Steven Foster Wilson My long-term goal is to build a portfolio of properties. My short-term goal is a 5-15 unit value-add multifamily deal that I can reposition, stabilize and then sell and 1031 to trade up to something larger. As mentioned in the original post I also buy flips to continue to build working capital to ultimately put into multifamily.

@David Braun Yeah I've broadened my area and started looking a bit further North but multifamily inventory is very limited in those Counties and the properties that are out there seem to be in rougher neighborhoods.

@Sam Issa Gotcha as long as you have someone you trust there that's what's important!

@Caleb Brown I've been primarily trying to source off-market deals but mainly through brokers, property managers, etc. Been thinking about doing marketing direct to owners but it just seems so saturated here with brokers, wholesalers and lots of buyers already doing that. I guess it's still worth a shot though!

@Stephan Kraus What you described there in Vegas is what I'm seeing here in Florida too.

@Andrew Carlson I'm connected with Todd but I believe he's primarily looking for LP's and not GP's.

@Dwayne Byrd How's the market doing up there? I haven't looked that far North.

@Account Closed Thanks for the response!

@Ron Nir The only way I'd want to go outside of my market is if I was to partner with a proven operator that already has a solid track record there.

@John Thedford My main concern with HML's is that I'd have to be able to turnover the money enough times to make it worth it. I can get 1-4 points and 10-12% here locally I just have to be able to do enough volume and have the loans collateralized by properties I actually wouldn't mind taking over in a worst case scenario. Seems like a lot of effort to ultimately have no skin in the game. I'd prefer to buy property where I gain the benefits of owning real estate rather than just lending on it but it is something to consider at least in the meantime.

@Taylor L. How would you suggest finding syndicators who are looking for help on the GP side?

@Sam Issa Did you partner with someone on the Tampa flip? Are you a LP or GP in the syndication?

If you had capital you wanted to put to work but you couldn't find deals in your area (South Florida) that fit your business model what would you do? Change your strategy and look to other asset classes? Partner with a proven operator in another market? Lend on some hard money loans? Look for a GP opportunity in a syndication? Sit tight and wait until you can find deals locally again?

I've been struggling to find 5-15 unit value add multifamily deals and even single family flips here in my market. Prices are sky high, inventory is very limited and it's insanely competitive. I need to put some capital to work rather than have it sitting in a savings account.

What would you do in this situation? 🤔

There are countless posts already with this same title.

If you do a quick search you can find them along with plenty of others for different dollar amounts.

You have plenty of options all of which depend on your specific goals, risk tolerance, timeline, etc.