All Forum Posts by: Juan Vargas

@Joe Fairless Thanks for always sharing your progress throughout your career and thanks for sharing your lessons learned. What did you adjust specifically in regards to your business plan after finding out the seller's true motivation? 

We underwrite above the line as well. Hope this helps. 

@Cody L. I was interested in attending as well but it looks to be sold out now. 

https://conta.cc/2Mc6OYV

Congratulations @Gino Barbaro! What a way to end the year!

@Sterling White has a platform that’s dedicated and made for syndicators. @Eric Hamm, reach out to him and he can tell you more about it. 

Joe Fairless started in multifamily with a master lease acquisition. I don’t believe he’s done any others but it was his start. He’s been very successful since then. 

You need to know the differences between a 506(b) and 506(c) securities. In a 506(c) you are allowed to legally advertise for a current deal. Since you don't have a deal today, you still should just show others the type of properties you're looking for without asking anyone directly to invest with you. 

@Shmuel Waldman We would need more information regarding the deal. Sounds like this is a partnership and not a security? What is everyone bringing to the table besides equal capital? Who’s overseeing the property? Local partners? 

It’s advisable to build those relationships before you need them. Money and/ or partners don’t always come after you have a deal as many people tend to believe. 

Best advice is to reach out to someone you’ve had a good relationship with that has taken down a deal. If you don’t know anyone, you should start networking to find one. 

@Todd Dexheimer hit the nail right on the head. And I would agree, if you could get creative financing such as a master lease, that may be a better option vs a bridge. Think of a bridge as a hard money lender. 

There is more risk going in. One of them being you don’t know what the lending environment or 10 year treasury will look like in 18-24 months. You’d also have to be confident on the exit value of the property when going to perm.