All Forum Posts by: Jordan Santiago

Be consistent. Connect with them every week or two via phone, text, email, social media. Stay top of mind at all times. Brokers are giving the best deals to people that they hear from. If you aren't communicating with them, they will not think of you.

Thank you so much Todd, thats great advice.

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Originally posted by @Matt Castle:

@Jordan Santiago

Couple things I would suggest:

Don't waste their time
Be a serious buyer
Have the ability to perform (i.e. cash or pre-qualified financing in place)
Do your own research in addition to what they are doing for you.
Don't be lazy. Don't ask them questions like "how close is Property XYZ to the grocery store?" when tools like Gmaps can tell you the answer under 60 seconds.
When you don't know something, ask. Don't wait to last minute and say "what? I didn't know I was supposed to do that!"
Think a few steps ahead of what you, the buyer, are doing. Don't make her/him wait b/c you didn't do a simple administrative task.
Know what you want. Don't change from 400k AirBNB rentals yielding 50k/yr GRI to 50k single family flips after s/he has done weeks of searching and driving around for you.
If you don't know what you want, simply say you're looking to make some investments and you would like his/her advice on best way(s) to deploy your capital.

As both an out of state investor and a realtor who works with out of state investors all the time, I have built my share of both relationships.

The big thing is the ability to complete the transaction. However, once you become a repeat client and s/he knows your word is better than the average investor, and you're making >200k investments with a 3% commission, I'd wager they will go above & beyond the normal call of duty to feed you deals.

One caveat: a lot of brokers/realtors will be required to disclose all deals by 2020 to eliminate the "off-market" stigma. We're supposed to be clear & transparent, so what is off-market now will likely change for most people in the near future.

Hey Matt, thanks for the response. This is awesome input with a lot of important, and helpful points. I am confident in doing all that you mentioned. Appreciate it!

By the way, you being a realtor, if you are in the commercial space I would love to connect with you and do some business.

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Originally posted by @Lien Vuong:

Showing them that youre serious and you have the funds to back it up. Telling them specific metrics of what you want in a deal as opposed to just 'as long as the numbers work'. Ability to be responsive and give valid feedback about the properties/opportunities given, you dont have to like every deal they send but constructive feedback is imperative for them to narrow down your search and be more effective.

Hey Lien, thanks for the response. Sending back constructive feedback to the brokers I've been speaking with on why I don't like the deal is something I have already started to do, but is still great advice. Showing them the funds to back it up is something I cannot do at the moment. I now have verbal commitments of $5,000,000 that I follow up with every week or two to make sure they are still ready, which they are. Any advice for that? Just let them know I am raising the capital?

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Originally posted by @Greg Dickerson:

Originally posted by @Jordan Santiago:

Hello BP,

Just a pretty simple question that I have, that I have some answers too, but would also like to hear other ideas and perspectives in the large multi family and apartment investing space.

To me, I see it kind of hard to build relationships with brokers out of state, but its obviously possible. How are you operators winning over real estate brokers to send you off market deals? Obviously some trust has to be built, but how did that relationship form? And what did you to form that relationship to help your business?

Any tips/advice appreciates. Thank you!

The number one thing is to be a closer and be easy to work with. They want to know you know what your doing and are experienced so make sure you know your stuff and ask good questions that convey your expertise

Thank you Greg! Your input on all of my posts has been extremely helpful. Much appreciated.

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Hello BP,

Just a pretty simple question that I have, that I have some answers too, but would also like to hear other ideas and perspectives in the large multi family and apartment investing space.

Any tips/advice appreciates. Thank you!

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Hey BP,

So I really want to get my feet wet with marketing to property owners of off market large apartment complexes. Obviously, most of these assets are owned by LLC's, and I think its safe to say that LLC's are a little harder to skip trace then the owners regular name. Is there a website, a spot, or something in that nature fellow apartment syndicators go to to gather data to market to? Is it just as simple as researching the county site? What if you're targeting multiple markets.

I am not looking to pay the national CoStar price of $1,000+ a month, and don't blame you if you want to share what you are using. I think one of my strong suits are using different marketing avenues effectively in my wholesaling business, and think it can carry over.

I know broker relationships can yield off market opportunities as well, but I don't want to JUST depend on that. Would you guys/gals recommend something?

2 Votes

Originally posted by @Tj Hines:

@Jordan Santiago my acq. manager is my partner who is also a principle in the company as a co-founder. So no commissions or salary. We're paid through our syndication model with fees in place for our compensation.

Gotcha! Makes sense. Thanks, TJ!

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Originally posted by @Taylor L.:

Originally posted by @Jordan Santiago:

Originally posted by @Taylor L.:

Per @Greg Dickerson's post, I am in the partnering camp. The major duties you identified are handled by my various partners. I have partners who handle asset management. We hire attorneys as needed. Admin assistants et. al are hired as needed. I have a couple of VAs doing tasks for me, and I'm always looking for new ways to incorporate them. The biggest players in the game are very skilled at hiring out for important tasks.

Hey Taylor,

Thanks for the input! Everyone has an equal share of the deal(s)? What do your other VA's do?

It's not equal share, but the determination is more or less deal-by-deal. My VAs mainly help with my marketing activities. I want to get them involved with investor relations moving forward.

Makes sense. Thank you Taylor, really helpful.

1 Vote

Originally posted by @Greg Dickerson:

Originally posted by @Jordan Santiago:

Originally posted by @Greg Dickerson:

Originally posted by @Jordan Santiago:

Hey BP,

Forgive me, I love applying my current knowledge to my current business, but also love learning about what I want to do in the future and be one step ahead.

I was curious, who does your IN HOUSE apartment syndication team consist of? I know every syndication has a relationship with an attorney, brokers, lenders, accountants etc. But do you have acquisition/asset managers? Secretaries? Cold Callers?

How do you compensate them? At what point did you bring them on your team? How did you find them?

Would love to hear a breakdown of everyones team. Thanks! Happy Investing.

This will be different for every operator as some will hire these positions and some will partner with others who fulfill the roles especially if you are looking at a lot of deals

Personally I have always had an office manager and a CFO. I look at every deal and opportunity myself first and if it looks good enough to pursue I pass it on to my CFO to fully analyze and underwrite, procure financing and prepare for closing but I lead the rest of the team that is all outsourced ie. PM, Brokers, attorney, architect, engineer, GC etc. depending on the project or deal.

Hey Greg,

Awesome. Thanks for the response. Do you pay those others on a salary, or give them a portion of the deal? Are you guys underwriting deals daily?

Employees are salary only. Yes we are actively evaluating, underwriting and modeling new and existing projects, deals and companies daily.

Thank you so much Greg for the great insight. Really helped, as always.

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Originally posted by @Taylor L.:

Hey Taylor,

Thanks for the input! Everyone has an equal share of the deal(s)? What do your other VA's do?

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All Forum Posts by: Jordan Santiago

Jordan Santiago has started 87 posts and replied 302 times.

Post: How To Win Over A Real Estate Broker For OFF Market Deals?

Post: How To Win Over A Real Estate Broker For OFF Market Deals?

Post: How To Win Over A Real Estate Broker For OFF Market Deals?

Post: How To Win Over A Real Estate Broker For OFF Market Deals?

Post: How To Win Over A Real Estate Broker For OFF Market Deals?

Post: MARKETING LISTS/OFF MARKET DEALS

Post: Breakdown of Apartment Syndication Team

Post: Breakdown of Apartment Syndication Team

Post: Breakdown of Apartment Syndication Team

Post: Breakdown of Apartment Syndication Team