All Forum Posts by: Jason Layman

@Mindy Jensen For sure.  My apologies.

Im going to start a meetup specifically catered towards multi family and syndication.  I am near the Raleigh market.  I want to see if anyone is interested and what locations they may come from.  Depending on the interest, I will place the location accordingly.  Im thinking on the I 40 corridor.  Im also looking to have a speaker/speakers at each event.  If you would be interested, please contact me.  I am looking for deals in the Carolinas and Tennessee.  

I hope to do it towards the end of April.

Thanks.

@Sean Rhodes I have not completed a syndication as of yet.  I have done a wholesale deal, but I am more interested in working with investors than the general public.  I am familiar with some different types of creative finance as well.

I am searching for MF properties and trying to contact owners.  I am stuck in the no real track record phase in terms of getting investors lined up for when a deal presents itself.  I will most likely be partnering with another syndicator on my first few.

I have one investor who is willing on the right deal, but it may be a smaller one.  That is ok with me.  I know that once my first one is done it gets a little easier in terms of credibility.  I have spoke with a few syndicators who I can bring a deal to and get a fee for bringing the deal, but also may get a small piece of the deal as well.   

I am currently reading the Best Ever Apartment Syndication Book by Joe Fairless. Im going to use it as a manual to follow through on. I am in the commercial construction business and am wanting to move into more full time work from home. I have 2 small kids and I intend to spend their school years with them as much as possible. My door business just keeps taking me out of town too often and for too long. I am looking for passive income to cover my expenses and then scaling from there. I can be personally debt free and have my budget covered on one right size deal. I have used my back for work for the last 20 years and it is time for me to move on. I have been studying REI for the last few years and have done a few things. really enjoy dealing in properties, especially the hunt for a fitting property.

Thanks John.  That is a lot to process, but I will get started.

You are on the path I want to be on.   Just getting my feet wet in learning the syndication model.  What areas do you look for properties in?  I can send you something if I find it.

I downloaded a tax delinquent list for a county Im interested in.  Not sure where to start in deciphering the data in terms of what Im going after.  Does anyone have and thoughts they would like to share in terms of scraping the data.  Do I look for high dollar amounts owed?  I am primarily interested in multifamily, but don't want to waste what I have if I can narrow down some single family opportunities.  I would not mind wholesaling some or doing some LO or some seller finance, its just not my primary goal.

I just came from a similar situation.  It cost me a 45 unit deal.  Im hoping that the investors I did make contact with during the process do not hold it against me in future deals.  It was a simple lack of communication with the seller and I felt I could not go around the agent (that I worked for).   I felt handcuffed throughout.  

I have my license.  I did not get them to be an agent, but to have more avenues open to servicing clients, networking  and finding leads.  I do not agree with cutting out a realtor who is looking for their cut of commission, but it is a 2 way street.  You also have a duty to your client.  This is probably the reason a lot of investors say to not get your license.   

You have a client and a property that may meet their requirements and an unresponsive agent is creating a needless roadblock.  It only takes minutes to set up a showing in the CSS if there is a lock box, but they have to do it.   It does not seem that they are servicing their client very well to have a possible buyer waiting around for a phone call.    

Not a pro, but just my opinion from experience.

I have been studying the MF space for about a year now.  The Joe Fairless book is a good road map.  I am reading it now and doing the first steps, using it basically like a manual.  I think bringing a deal to a sponsor is going to be the best way for me to bring value to them and prove some credibility in the space by analyzing a deal properly.  Im looking for someone to work the deal with in exchange for bringing the deal.   

@Angie Visintainer What criteria are you looking for in a rental.  I have a few in the pipeline that may fit.

Thank you Russell.  That is the most in depth answer Ive seen.  I am going to have to get back to work on it.