All Forum Posts by: Mike Vann

@Jeff Ostrander, @Austin Goebel, I'm from Ft Smith but currently live in Springfield, MO and have been investing in RE for almost 20 years while working a full time job. A couple years ago I started helping other busy professionals invest in real estate through multifamily apartment syndications. I'm speaking on this topic at the River Valley Navigators REI meeting in Van Buren on Oct 15th if you want to learn more. Please let me know if I can help!

So far you've taken some good steps. This is a relationship business so meeting w/ brokers, property management companies, lenders, and attorneys is essential. Don't worry about an LLC until you get a deal under contract. You will do that when you form your purchasing entity. Most important right now is learning how to underwrite deals. Get @Michael Blank syndicated deal analyzer and go through the videos to learn how to use it and underwrite deals. You can use loopnet deals or your current deal flow to uw as many deals as possible to practice.  During this time you need to be building relationships w/ potential investors and sponsors who you can bring value to so they will want to partner with you when you find and bring them a deal and you will be able to raise money.   Hope that helps and good luck on your journey. 

Congrats on taking action @Matt McEver! That’s often the most difficult part for people to accomplish.  I live in MO and have a duplex in Fayetteville, a couple duplexes and a 55 unit apartment complex in Ft Smith and the rest of my solo owned properties are in MO.  I decided to scale and spent some time educating myself and networking in the Syndication arena and have closed on 825 units since last August. I say all this for 2 reasons, 1) just to offer my experience to those that can benefit and 2) to validate that you can do whatever you set your mind to if you’re willing to take action, whether it’s your first or 101st.  And I still have a full time job so if I can do it so can anyone else!!  

I have lived in Springfield for the past 14 years and own several properties here, SF, duplex, 6 plex, small apartments and I’ve used Doug Anderson at TDMI the whole time and have been very happy with him. You should give him a call. 

@David Pere, Thank you for your service! I live in Springfield and have properties throughout the Springfield Metro and NW Arkansas. I started doing apartment syndications about a year ago and have closed on 4 deals since August 2018 throughout KS, OK, and DFW. I would be happy to help any way I can. 

@Geoff Garber, as Sam mentioned, pooling investors together to invest is fairly common.  We are currently looking for Capital Raisers to be part of the General Partnership in our deals.  We do this in order to allow us to increase our deal size to $15M+ and do more deals simultaneously. If this is something that is of intetest, PM me and we can set up a call. 

Trinity Multifamily In NW AR is great!

Yes @Brady Lamprecht, they have been there since 2011 and have expanded multiple times and have invested $2.5B to date w/ another expansion slated for this year. 

@James Evertson will do

@Dan Wallace the capital injection includes CapEx since, as you know, Freddie SBL doesn't allow for financed rehab. My partners and I cover the NW/Liquidity requirements. We are not providing a pref return but projecting double digit annual and investors will be paid out before the Asset Mgmt is paid. No other fees are charged.