All Forum Posts by: Account Closed

@Account Closed We went from 6 units to 173 units...extremely possible with the right mentor! We invested $30K in our first mentor (one of them mentioned in this stream and it was super challenging to be successful for many reasons) - we quickly cut our losses and found the group we're with now which is what helped us close 173 units in our first few months of joining.  The silver lining in our poor experience with the first mentor is that it really helped us identify what we needed in a mentor and a group to be successful.  Happy to chat about it if you'd like! Feel free to reach out! Best of luck in your multifamily journey

@Account Closedundefined

@Tamar Hermes We’ve collected 91% of rents due on 173 units and no requests for forbearance. We also applied for PPP and received monies to cover payroll through July 15th. We expect May rents to go just as well! We’re in a strong market with education and healthcare being the primary employment.

@Matt Nettles Hey Matt! Does your mentor have a group of people that he's mentoring where you can access those types of resources? We pulled 7 capital raisers from our group to get our first deal done + we have access to asset managers/key principals/earnest money/etc within the group for future deals.  You can certainly find those outside of a group - but usually if you work inside of your mentor's group you'll get to know people better and establish strong partnerships.  Best of luck in your journey!

@Kristian Gettemy Personal opinion... Apartment Syndication (large multifamily) ...build a team that can help you invest and take down large deals.  Our group has quite a few acquisitions in Georgia (great market!) and we actually have a member who lives in Israel - he teams up with others in our group to invest.  Totally possible- and it's great that you have family in the US and a Social.  Feel free to reach out if you want to toss around the idea more- happy to help! Best of luck!

@Kristopher Raepple Congrats on your flipping business! I definitely have advice on moving into larger multifamily properties...my father and I started last year.  There's certainly a few things you'll want to be aware of before you dive in...especially on the mentorship aspect.  You're so right about preventing beginner mistakes...the syndication world is one where you really get one shot to make it as your reputation with your investors depends on it!  Feel free to DM me - it's usually easier/quicker to chat about it over the phone.  Happy to help in any way I can based on our experience.  Best of luck in your journey! 

@Manmath D. $20K - $40K is the industry range for one-on-one coaching - although make sure that you're actually getting the one-on-one if you're making that type of investment.  We joined a group before we found the mentor we're with now- paid a large sum of money, and didn't get what we were promised so make sure that you really know the character and culture of the mentor/group you're joining.  We're with Mark Kenney and Think Multifamily now - best decision we've ever made.  It's not cheap - but it was a no-brainer for us because we couldn't have done our first deal without him.  AND it paid for itself 9X with our first property... it's certainly not for everyone - you want to be sure it's the route you want to pursue before you make that type of investment, but it was well-worth it for us! Feel free to reach out if you have any questions... happy to help! Cheers!

Mark Kenney with Think Multifamily ... B & C Class Value-Adds - most of his investors are looking to double their money in 5 years.  They're typically 5 year projects with a refinance at year 3 and sale at year 5.  He owns 6500 units and his group (that I'm a part of) did $250M in acquisitions last year...pretty active in several markets across the US.  Feel free to reach out if you need anything.  Best of luck in your RE journey!

@Andre Jernigan I can relate. I quite Corporate America as an Executive at the peak of my career 2 years ago...I was tired of building someone else's empire.  While it's difficult to continue working a job you dislike, you want to have a plan before you "jump"... I built a plan around my other business that I run (private sales coaching) to make sure I had income, and I started a syndication business with my Dad.  Syndication takes time to build up enough properties to achieve your income goals depending on what they are...my guess is that it's at least more than 1 property.  HIRE A MENTOR.  I can't say this enough.  Your reputation is everything in the syndication space and you want to come out of the gate with a solid credible name backing you.  You also want to make sure that the mentor also has a group of like-minded individuals with plenty of resources (for raising capital, earnest money, key principal, etc). Many of the syndicators in our group work full-time - with the goal of replacing their income...you just need to run the numbers to see how many deals it would take you to be able to do so.  Happy to help any way I can - feel free to reach out! Best of luck in your journey :) 

@Jared Lomker I agree with @Tim Ryan ... GET. A. MENTOR. 

Your reputation is everything in syndication - with investors, brokers, industry professionals, etc.  You want to come out of the gate with credibility and an experienced "name" (mentor) backing you.  My Dad and I hired a mentor last year and closed on 173 units in November - and we're about to go under contract on another property.  My advice when I talk to anyone asking about syndication is to know what you're getting into... it sounds like you've got what it takes from your drive and goals perspective, you just need a mentor and a team to help accelerate your progress.  If you are going to hire a mentor, make sure it comes with a mastermind group of people with resources to help you (for earnest money if needed, capital-raising, key principal, etc). We invested in 2 mentors before we found the right one... happy to discuss our journey if it'll help you make decisions about yours...feel free to reach out anytime! Wishing you the best of success! 

@Todd Gutekunst You popped up on my forum list but I just realized this was 3 months ago! Anyways- my Dad and I got involved in multifamily in the Summer of last year and closed on 173 units in November.  Our partner/mentor/coach owns 6500 units and we're a part of a group of very active syndicators - did $250M and 4300 units in acquisitions in the last 12 months.  Anyways - happy to help any way I can, I love talking multifamily so feel free to reach out.  Cheers to your success in your investing journey!