All Forum Posts by: Hunter Ambos

Michael Blank talks a lot about syndication and using partners to get into larger deals. You don't have to start at 2-4 units if that's not the end goal. I don't have the net worth or the down payment but I'm raising money for the down payment + rehab and partnering with experienced people (who do have the net worth) and giving them a lot of the deal in exchange. The first deal isn't going to make me rich but it will give me the much-needed experience. I don't want to waste time with 2-4 units because that's not my strategy. I found a lot of partners by just networking and starting to look for deals through brokers and now cold-calling owners.

Michael Blank's book about apartment investing is perfect for learning multifamily syndication

For multifamily investing, I just started the process of going to meetups and looking for deals. Regardless of whether or not it was the best use of my time or if I was getting something out of it directly. By starting and taking action, people will want to work with you because they know you're serious

At this time, I'm in the process of raising money but also doing some bird dogging (probably not a word) for a fee upon accepted contract. Along with that, I'm able to look over their shoulder to learn the process hands-on in a way.

As someone who is a newer sponsor, I'd much rather under-promise and over-deliver so that I create a positive reputation and create lifetime investors. Especially because I am new and am at sort of a "make or break" point with my reputation. (it goes without saying that I'm just an ethical person who'd rather do the right thing.) That being said, I can definitely see where @Brian Burke is coming from. There's 2 ways of thinking as a new sponsor: Short-term success or long-term success with a slower start.

I'm working with investors in central ohio doing cold calls for them. They pulled a list from listsource and put the spreadsheet in google sheets so it could be shared. It's good for me because I can be a part of a deal in the early stages and get used to talking to owners. It's good for them obviously because they don't have to take the time to make calls. I'm sure you could also find a virtual assistant to make the calls.

I'm reading it just because I'm an agent but I feel the principles could be applied to just about any business.

What did you use to estimate rehab costs?

@Bryan Pham I’m currently looking for deals in Central Ohio. I will be sure to share anything I find!

@Mike Acri that’s a great idea. I’ll start doing that and see where it goes.