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All Forum Posts by: John Fortes

John Fortes has started 58 posts and replied 580 times.

Post: New MA ADU law can be a gamechanger!

John Fortes
Posted
  • Multi-Family Syndicator
  • Abington, MA
  • Posts 603
  • Votes 347

I agree with everyone posting on this topic here @German Fernandez, @Tyler Munroe, @Deirdre Lizio. I'm here in the South Shore and my home town is Brockton. As a real estate agent, I work with a lot of investors and home owners in the south shore excited about this and looking to take advantage of it. 

Sounds like you all area experiencing it as well. 

Post: $5.3M to use but 0 experience. Advice...?

John Fortes
Posted
  • Multi-Family Syndicator
  • Abington, MA
  • Posts 603
  • Votes 347

Sure, I'll follow the bouncing ball here! Let's go!

Congrats on this accomplishment. Well deserved!

Outside of joining local RE meet up groups and going to conferences, investing in online education, and networking. The goal in being active is to shortcut the learning curve. Hiring a real estate coach might be an options. Others refer to them as mentors. I have an issue with that because a true mentor will mentor you if you're lucky to have their time. A coach is someone who you hire to help navigate similar to what a mentor will do but not everyone has access to a mentor in their life. That's just my personal difference between the two.

Here's 5 things I'm sharing for anyone in this situation. I understand that everyone may have different goals. 

With your experience in CRE, here are a few options.

1. Talk to a wealth manager if you haven't already.

2. To gain experience in large commercial, identify an operator that does what you want to do, vet them thoroughly, then when comfortable potentially invest with the operator. Lots of options out there with this and you will definitely learn as an investor unless your interest changes. 

3. Unless you really desired to purchase anything less than 5 units, then go ahead and do the 1 - 3 STR's but consider using one of those services that helps manage the asset as long as they keep the place booked. You can learn more about those agencies on this site.

4. Going back to the number one, consider allocating a specific amount for commercial syndications. What that number is, is up to you. That way the portion allocated is put to work as you gain experience by investing in these assets.

5. Lastly, consider partnering with a trusted and up and coming operator and KP (become the key principal) on an project. Leveraging your net worth for the debt on favorable terms. You'll learn the business as well by working alongside the operator. 

Five options to work with. I'm sure there are plenty more that can be added to this conversation. 

Good luck! Now back to the regular scheduled programing!

Post: Hypothetical - 15-Unit Apartment or 5 Single Family Homes (All numbers being equal)

John Fortes
Posted
  • Multi-Family Syndicator
  • Abington, MA
  • Posts 603
  • Votes 347

If this was in Florida, the one issue I see with the single family homes is that home insurance isn't what it once was. Lots to think about there as prices have inflated. 

I know what your trying to conjure here, but love how other investors are digging in and asking more and more questions such as location, condition, ect. 

Also consider your time factor going into this. Will you have a PM or self manage?

If all things being equal and buying cash and the assets are in Florida, I'd consider going 15 unit with a property manager. But it's a real tough decision to make with the price of singles appreciating these days.

Post: How to find investors I can pool with?

John Fortes
Posted
  • Multi-Family Syndicator
  • Abington, MA
  • Posts 603
  • Votes 347

Great question, start by attending some local meet ups. They could be in person, online, or a hybrid of the two. Network and develop a relationship that lines up with your goals and interests. If it is a true syndication investment that you are interested in then you can connect with a sponsor. Once you start jumping into these conversations, the lane and path of your direction will start to shape out. Good luck!

Post: Anyone have experience working with Simm Capital?

John Fortes
Posted
  • Multi-Family Syndicator
  • Abington, MA
  • Posts 603
  • Votes 347
Quote from @Mike Zitomer:

They are offering a syndication fund for section 8 housing paying 9% dividends and 60% annual profit sharing of cash flowing properties in the portfolio.  Trying to do some more due diligence here.

Hi Mike, I see you're local to me. It's nice to meet you.

What Lane and Evan have responded with sums it up for me. Like many on this forum do, not only do I respect their professional opinion, I value their experience on the matter as well. 


Post: Black couple’s home appraises for $500K more when white pal poses as owner

John Fortes
Posted
  • Multi-Family Syndicator
  • Abington, MA
  • Posts 603
  • Votes 347

Sad and disturbing that this happened and possibly still happening to many others out there. 

Post: Looking for a lawyer knowledgeable in multifamily syndications

John Fortes
Posted
  • Multi-Family Syndicator
  • Abington, MA
  • Posts 603
  • Votes 347

@Jillian Sidoti is definitely is someone I would reach out to. Good luck!

Post: Would you rather have 10k a month in passive income or $1,000,000

John Fortes
Posted
  • Multi-Family Syndicator
  • Abington, MA
  • Posts 603
  • Votes 347

Ton's to do with that $1MM in RE. Sign me up for the lump sum and let me make it work for me and grow it as best as I can. 

Post: Cash Flow vs. Equity Multiple

John Fortes
Posted
  • Multi-Family Syndicator
  • Abington, MA
  • Posts 603
  • Votes 347

As @Brian Burke and @Todd Dexheimer have mentioned, investors are positioned differently. There are investors out there investing in ground up developments that retrieve no capital for 12-18 months before seeing dividends. A true value add shows the increase of capital through the improvement of operations over time. 

Would you rather the sponsor raise the extra capital from investors and give it back as part of the returns as a return on capital or in some cases, return of capital?

Post: BUY AND HOLD NOW OR MULTI FAMILY SYNDICATION LATER

John Fortes
Posted
  • Multi-Family Syndicator
  • Abington, MA
  • Posts 603
  • Votes 347

Good options and you sound really committed with either direction you will move in. Good first step is by doing so once that decision is to be made, just start and have that proper education and tools handy and ready to go. 

Just a criteria thing that you have to iron out and its a personal decision for you. 

Question to ask yourself: Won't any of the smaller acquisitions just contribute to your net worth anyways (per the equity involved)?

On another note, you can get into syndications now instead of waiting for accreditation status with many firms already offering Reg D offerings that allow for a limited amount of non-accredited investors. You can find out by identifying these firms, schedule calls and getting to know the sponsorship teams and then moving asking the questions to understand what types of investors they are seeking. That's if you decide to want to invest in syndications today vs tomorrow. 

Happy investing!