All Forum Posts by: Joshua Schoer

@Austin Healey

Hi Austin and Brian,

I have found a lot that might be a good fit for a few people to partner up on and do a new build of a few townhomes.

If you might be interested please send me a message to connect.

Thanks

Josh

@Brian Thacker

Hi Brian,

Thanks for starting this thread, like you I'm very interested in partnering with other like minded investors in the area to get to that next level.

There is actually a meetup tomorrow at 6:30 at the Salem Center I plan on going to (you can find it in the Meetup app). If anyone is interested would love to catch up at the meetup and discuss goals and ways we could help each other succeed.

If not able to get out tomorrow, please feel free to message me.

Thanks

Josh

@Charles Seaman

Thanks very much Charles, that is very helpful!

I am about 80 miles from the property and would probably keep the existing PM already in Daytona Beach for the transition. So hopefully we would still qualify since I think we can check those boxes.

Hi All,

I've come across a potential deal in Daytona Beach for a value add apartment that looks pretty good after doing the first underwriting pass. My problem is that I'm located about an hour and a half north in Ponte Vedra and I've been told for agency financing they want one of the partners to be local to the property. Is that always true and if so am I close enough to be considered local?

If not, are there any multifamily investors in Daytona Beach that might be interested in partnering?

Thanks

Josh

@Evan Polaski

Thanks Evan, I really appreciate the insight. I must have misunderstood what they were referencing during the meetup.

Thank you everyone for your help!

Hi All,

I went to a meetup last night on multifamily here in Jacksonville and it was great.

One of the questions that came up was the not having too many partners in a deal without syndication, it becomes frowned upon legally at some point.

The problem is that under a certain number of units the scale isn't there to absorb the cost of going through a syndication, so I've been trying to put together a small group of investors interested in partnering on a multifamily deal, but don't want to get in trouble.

As a caveat, I won't hold anyone to it as binding legal advice, but in general is there a rule of thumb about the maximum number of partners in a deal that is legal?

Thanks in advance!

Josh

@Scott Wolf

Thanks Scott for the heads up but looking to get into a smaller deal as a GP if possible, or even a smaller piece of a large deal as a GP.

@Brian Garrett

Hi Brian,

I'm in Jax but would be very interested in partnering on a multifamily deal. I can bring some capital, net worth, little bit of a track record, and income to help with a recourse loan if needed.

My biggest challenge is finding a deal while working a full time job. Please send me a message if you have time to discuss.

Thanks!

@Tyler Allan

Hi Tyler, welcome to Jax! I'm always looking to expand my network in the area, send me a PM if you want to talk goals. Thanks

@Tony Borman

I like my accountant, has a good handle on real estate;

Mark Sizemore at First Coast CPA