All Forum Posts by: Matt Lockwood

Hey Brent I would love to hear more about that. DM me your #, let’s jump on a call sometime soon! 

Hi, my name is Matt.

My background in real estate investing consists primarily of new construction spec homes in the SF bay area in CA (San Mateo and San Carlos). I am expanding my business to residential rehabbing and am currently looking for partners to JV with to take advantage of the opportunities that my business is creating.

Seeking:

Potential Joint Venture Equity Partners

Contractors interested in RE and/or Experienced Rehabbers

Investor oriented agents

If you fit into these categories I would love to meet and talk with you about your experiences, your business, and how I could help you grow and get to where you want to be in real estate investing.

I look forward to speaking with you,

Matt

Hi Laura,

I have a great recommendation for you. I use Pelzner and Associates in Burlingame. They take care of accounting for my new construction projects in San Carlos and other projects in my real estate business.

Hey Mike,

I saw that you posted this a long time ago with no response but I found it just now while searching for "syndication." I am gearing up to do the same thing that you are talking about here and I wanted to turn it around and ask you... now that it's been a year did you follow through and do this ? If so how did it go ?

Hey all!

I am looking for a reputable attorney in the bay area; specifically on the peninsula in or around San Francisco and San Mateo Counties. I can find plenty of them on google but would rather get a good word from someone. Looking for someone who: specializes in real estate law, syndication formation laws and regulations, securities exchange laws and exemptions,  has worked with real estate investors, is reliable, honest, trustworthy, and is a clear and effective communicator. If you know of anyone that fits some or all of that criteria please share.

Cheers!

Elizabeth Moyer Welcome to bigger pockets, this website as I'm sure you know is a wealth of information and resources! 1) You could get into a place on a rent to own basis. Or just negotiate for an option to buy that is good for the amount of time it will take you to save up for a down payment. 2) You could bring in a partner and form an LLC to buy that property and many others depending on how many partners you can assemble. 3) You could direct mail market or contact FSBOs for motivated sellers that are either high equity or are in some other position to be likely to carry the note for you (finance you) at zero down with a reasonable monthly payment from you for a certain allotted time frame. You could ask to amortize the loan over a longer period of time to get your payments low and then offer an attractive balloon payment in 3-5 years to finance them out which gives you time to figure out how to re-fi.

My question here is, is it possible to raise private money and syndicate that money into a legal entity that would then join as a member of a separate LLC for the purpose of contributing capital to fund new construction? To me (unless the members have a role) this seems like it meets most or all of the criteria to be considered a security to those members of the original syndication of funds. Has anyone done this or something similar and is willing to share experience? My goal here is to figure out how I can pursue private money investors and be able to put that money to work and earn my investors a handsome return while maintaining control of the LLC for my construction projects. Seems like the only way to do this would be to make it more of a loan from these private investors.

My question here is, is it possible to raise private money and syndicate that money into a legal entity that would then join as a member of a separate LLC for the purpose of contributing capital to fund new construction? To me (unless the members have a role) this seems like it meets most or all of the criteria to be considered a security to those members of the original syndication of funds. Has anyone done this or something similar and is willing to share experience? My goal here is to figure out how I can pursue private money investors and be able to put that money to work and earn my investors a handsome return while maintaining control of the LLC for my construction projects. Seems like the only way to do this would be to make it more of a loan from these private investors.

In my experience with real estate as with many things in life, I have found that clear communication of expectations has proven to be a key component in the successful structuring and execution of any sort of business partnership or service transaction relationship. In my opinion, when setting up any sort of legal entity, partnership, new venture, etc. it is crucial to sit down with your people and clearly outline all expectations, roles, duties, and other relevant terms or conditions before working together. So many times I watch people enter into business relationships that later fail or otherwise fall into turmoil because the expectations of those involved were either outlined in uncertain terms or were not outlined at all. Clearly stated expectations eliminate ambiguity and miscommunication; they help to create a culture of accountability that will serve to increase efficiency and avoid problems. This applies to employee/employer relationships as well. In college I was well served by my habit of sitting down with any new employer over lunch for a short meeting about what I expected of them, what they expected of me, and what we expected of ourselves. I would type these things out and print a copy for each of us as well as agree to review it after time had gone by to evaluate our performance. The same can and should be done with investors, agents, partners, or other business associates. Even the simplest of expectations that seem almost negligible can prove to be valuable tools in guiding your business when clearly outlined and communicated with those around you. 

What are your experiences with communication of expectations or the lack thereof in your real estate business? How do expectations create problems if not addressed adequately beforehand? Do you have any stories, experiences, or tips/strategies to share ? 

Hi all,

Just graduated college and I'm getting my start in REI in San Carlos, Redwood City, and the general Bay Area in CA. I'll be employed as a foreman on our construction sites building spec homes. Im getting paid on salary but in addition to this I will be a minority partner in each LLC we form for each house we build. This means that I will be paid out when we close escrow on each build. My employer has given me the option to be on payroll or to be paid as a 1099 contractor. Need to decide which way I will set it up. I'm planning to have a consultation with a local professional about this but I also wanted to see if anyone on here has any insight to offer as far as tax strategy, deductions, etc.

Thanks!