All Forum Posts by: Jackson Babcock

@Matthew Russell

Strong advise from the post above.  That is how I got started in multifamily.  First by educating myself through books, podcast, etc. and then investing as a LP once I understood how to analyze deals and vet sponsors.  Then I worked with a sponsor as a CO-GP to gain knowledge.  Once I was ready to go full time, I hired a mentor to set us up for success.  Friends, Family and close associates is were you will start when capital raising.  As @Jeffrey Donis mentioned, starting a thought leadership platform will help get you recognized and build your brand and it will start to snowball from there. 

@Stuart Van Ess 

I would recommend speaking with a SEC attorney about the structuring of your deal.  You want to make sure you are not selling securities or compensating someone who is not a broker dealer for raising capital.  Let me know if you would like a couple names of attorneys.   

@William Collins

I agree with @Paul Moore, I hired a 1 on 1 mentor at the beginning of the year and It has been the best money I have invested.  Leveraging a mentors knowledge and experience will catapult your business faster if your willing to put in the work.  I know mentorships can be expensive, but the knowledge and guidance you gain can save you from potentially making a costly mistake and saves you time by allowing you to grow faster.  Good Luck. 

@Ethan Neumann

As many have mentioned, Apartment Syndication is a full time business.  I was in your shoes at the beginning of the year.  I had a another company I ran full time for the last 15 years.  I started passively investing in syndications a few years back and I set myself up finically this year to walk away from my old business and start a apartment syndication business.  There are so many moving parts to the business that I couldn’t imagine trying to do it part time.  Also as Chris mentioned, your investors are going to want to see that you are 100% committed.  It builds more credibility when they know your primary focus is on the business and protecting and growing their investment.  Also one of the best things I did was hire a mentor/coach at the start. Leveraging his experience and knowledge has expedited the process of getting started.  Having a experienced strategic partner as a part of your team is invaluable and helps build credibility with investors, brokers and lenders.  I see you are from Raleigh, we are not to far apart.  I would be happy to chat if you have any questions.  Good Luck.

Here’s a list of a few podcast that are primarily focused on or around multifamily.

-Best Real Estate Investing Advice Ever

-Multifamily Investor Nation

-Apartment Building Investing 

@Shalom Benton

Sounds like you are looking for a hard money lender.  I am not familiar with any in Florida but if you post you are looking for private lenders in Florida in the private lending forum maybe someone could chime in.  Rehab Wallet is based out of South Carolina.  You might want to check them out.  They do short term lending for these types of projects.  I have no personal experience with them but have heard good things.  Good Luck. 

For me it was getting financially educated and understanding how money really works.  Reinvesting profits from my previous business into cash flowing assets that paid you to own them.  With that education also learning all the tax advantages of real estate.  I wish someone would of gave me a copy of Rich Dad Poor Dad when I was in high school.  That book completely changed my perspective. 

@Kevin Young

Welcome Kevin!  Lots of valuable information and knowledgeable people on bigger pockets.  You are located in a very strong market and multifamily is a great avenue for investing.  Are you a residential or commercial agent?  Look forward to connecting.

@Devin Ellinwood

Make sure you are buying for positive cash flow and not appreciation. The market is hot but there are still deals to be found.  You can buy in all cycles of the market, just make sure the numbers work at the current time.  Buying for positive cash flow and not over leveraging is key.  Even if we go into a market downturn, you can still cash flow the property and wait for the market to come back.  As @Erik W. said, you don’t want to look back in two years wishing you had bought and the market is 20% higher.  We can’t predict the future, we can only evaluate what the current situation is. 

As others have stated, buying for appreciation is a very speculative investment. My personal opinion is to always buy for cash flow, especially when using leverage. Capital preservation is our number one priority. Buying for appreciation is gambling in my eyes, not saying you can't make money but it can be risky. I like having control over the properties and having the ability to force appreciation by driving up NOI.