All Forum Posts by: Matt Aquino

Hi @Mike Zaven .

I've been upstarting in syndications as well.  Invested in several in a limited partner (but involved capacity) and am a few weeks away from closing on a deal in a sponsor capacity in Greenville, SC area. 

I've personally always really liked the PHX and AZ markets. I like the dynamics and the growth that market has seen and still has to go. 

Lets connect. I can offer a really strong background in underwriting, financial analysis, market analysis, investor relations, and have been building my network of investors (which helped to fund the Greenville deal mentioned earlier).  

I'd love to partner with someone for the PHX market who can help build broker relationships , create a deal pipeline, understands the physical due diligence and renovation processes really well, and has a network of investors as well. 

Lets talk, send me a direct message, and see where each other is at in our RE journeys and take it from there!

Matt

Following and reading through this thread as I am in a similar position to the original poster.

I have evaluated some of the programs out there such as Brad Sumrock, Gino, Rod K, and others ..

For me, the value has to come from the ability to have access to people who can help provide deal flow and others who are in a similar position as I am that would be willing to partner with complimentary skillsets. 

So I'm curious from others if the paid mentorship programs have provided a quick-start way to their first 2-3 deals which then helps get you a track record and establish a team.

Congrats!! Excited to hear about the war stories of how you took this one down!

Loved reading many of the responses here.

I personally feel like I have so many areas to grow in to move towards my real estate investing goals.  Like many I started investing in small multifamily and in the last few years have directed my efforts towards commercial style multifamily sized buildings. 

For me, in real estate, my growth has always followed the formula of self-education, then networking, then doing. Whenever I have a new endeavor and feel out of my league I think back to taking those steps.

This has resulted in my journey of participating as a LP in 3 syndicated deals and about to close next month on my first venture with partners on the GP side.

Growth in the future for me will continue to be through continuing to grow my network of professionals looking to take the investing journey with me and to find partnerships that can help me find attractive deals to put that capital to use. 

I'm a believer that there's good deals and bad deals in every part of the market cycle.  If any one of us could predict when the cycles are at the top vs bottom then we'd all be rich. That's a speculative game vs the skill of picking winners and operating them the right way. Many people thought the stock & real estate markets were at their top 2, 3, or 4 years ago and its still running up. 

I think for multifamily deals, its all in making sure the underwriting and assumptions are conservative and consider the potential risks for that specific market, asset, and business plan.  If you can underwrite it with heavy conservatism and it can still pencil out to a decent deal then you naturally will have much more room for downside scenarios (whether that be macro-market or something specific to your property/business plan).

I personally love to completely underwrite from scratch every single deal I evaluate.  Helps me to understand where the sponsor is making assumptions and then I can play with those assumptions to see how sensitive it is. 

just went back and googled Pat Fasano and read some articles.

Sounds hopeful. I'll be cheering for them and if there's signs of turning the city as a whole on a path towards what has happened in Asbury Park, I'll be there to invest in some housing as well ! 

I have for a long time been loudly hoping for Atlantic City to take its stand and elevate itself as an entertainment capital of the East coast.  It has SOO many unique advantages for itself.

Unfortunately over the years the local government and corruption have seemed to stop any real progress from happening. 

In my opinion their biggest, absolute blunder was allowing for the new shiny and best resort/casinos to develop on the marina and not keep everything on the boardwalk.  Now visitors go to just the Borogta (or whichever one) and nothing else in town. That means that town and surrounding business didn't get the full bump from the tourism.  Why did they develop the shops away from the boardwalk on the side of the busy highway. This + not legalizing sports betting when NJ had the chance back in the 70s or 80s was another HUUGE miss.

Atlantic City should focus on developing the boardwalk into a destination. Allow for open container, legalize weed, have pop up entertainment all over the boardwalk.  Police that boardwalk to make sure tourists feel safe and free to walk around at any hour jumping from one casino to the next.  Like Vegas has, AC needs to be entertainment first (with that little taste of sin city) and gambling second.  The days of hardcore gambler only is a dying breed and they now have other options all over the tri-state area. 

I hope AC one day finds itself. And it still has many unique advantages that it could one day be a great story.  But it has a LOONG way to go right now.  It has a few gems of local bars/restaurants and a handful of good resort/casinos but the rest of it is severely neglected at the moment. 

Appreciate the feedback, especially the forewarnings regarding unit size.  

Question I have back to some of you .. is it actually the # of units or the total revenue which would drive if you can make sense of the financials for syndications?  For example - we are looking at buildings in central locations within NYC & Philadelphia. So the revenue for 20 units there might be the same gross revenue for a 60 unit in another part of the country. And the cost to acquire (and rehab) might be significant.  So what are the factors to consider where a syndication makes sense or to go with a simpler/different structure? 

Obviously when we run the numbers and bake in the expenses, our model will show us what can make sense from a returns perspective or not.  But curious what those common themes or characteristics that signal what type of partnership structure makes sense ? 

Hi All,

I'd like to get a conversation going and seek people's guidance for resources and the basics on putting together (as a sponsor) a syndication of LPs to invest in small (8-20 units) multi-family buildings in major Northeast cities.

I am partnered with a small-time developer who has completed some value add projects with his own capital/financing and together we are now looking to grow and scale into slightly larger buildings over time.  We would like to raise a few million for a very specific asset type to have the bullets ready to acquire when discounted opportunities arise (we have a pipeline of potential deals and are mining for more). 

What I wanted this conversation to be around is the basics of starting a RE investment syndication. I received advice to purchase Joe Fairless book, which I am about to embark on reading. But I wanted to parallel run a conversation here because of the incredible resources and experiences there are within the BP world. To establish the funds - what are the steps to take, pitfalls to be aware of, etc. ??

@Rachel Zeman  @Jimmy Lieu

I'm happy to help and answer any questions you have. Send me a direct message with what's on your mind/questions.