All Forum Posts by: Steven Kleppin

Hello. I want to start to syndicate and I have several family and friends who are interested in investing in me. I also hear many times on the podcasts that people go to friends and family to raise money on their early investments. But it seems like those friends and family would have to be accredited or "sophisticated" investors to not violate SEC laws. Is there something that I'm missing? I know I could do an LLC with them being limited partners, but was specifically looking at syndication because I think I'd need a larger number of investors than what's generally accepted as LPs in an LLC.

Thanks for any help!

Hello. Is anyone able to provide an example syndication contract they have successfully used? I've checked the files section, and have done some searching through the forums but haven't see anything. Thank you.

I was wondering if there was something similar to a REIA that was a meetup of small business owners, not just those involved in real estate. I think it'd be helpful to see other business models (franchisees, startups, mom & pop shops). Thanks!

I wouldn't directly speak to them. Too much chance to either say something hot-headed, or put the eviction proceedings at risk. Have them go through your attorney like @Ashley Hernandez said. If you don't have any legal or management support, at the very least keep all communication written and have a second set of eyes look it over so that you aren't saying anything inflammatory.

@Ani Nambula I'm in a similar position. I'm in the Arlington, VA area looking to pick up an apartment with 20-30 units. I've looked at as much as I can on the BP Marketplace, LoopNet, Cityfeet, etc, and can't find anything close that's within the specs I'm looking for. I think I'm at the point where I need to accept that I need to look at another market if I want to get a property that meets my specs. This is difficult when you work full time. I think you see a lot of the "masters" will up and move to their target market, or spend considerable time building a team in that market. Right now I'm trying to figure out what market that is for me then

1) Visit that market, understand the neighborhoods, visit properties. This might take 2-3 months with several visits.

2) Develop relationships with brokers in that market. From what I gather, checking the MLS like you might do with a SFR is not very effective when looking for 5+ units. So take some action and call some brokers. But don't waste their time if you don't have the potential to get the finding.

Best of luck and I hope we get to hear about your journey soon.

@Brett Monaghan Thanks for the explanation! It does seem silly that it doesn't exist. I'll keep working with my PM for other ways to automate. Maybe explore IFTTT or something through the bank that they use. Thanks again and take care.

@Eric Bilderback thanks for your comments. Bump is just a term to move a stale forum topic back to the top. Looks like it worked ;-)

When you say "they should be able to text you", do you mean that the AppFolio system should be able to send automated texts when money from my properties is deposited? I want to not have to call my PM on the 5th of the month to make sure everyone is on time each month. Or them have to remember to contact me. The neighborhood for this property is likely C or D and payments aren't reliable.

Not sure if bumping works on these forums. But does anyone have thoughts on this?

My property manager for my 4-plex uses AppFolio. I can see my statements, work orders and leases on there, but it has to be able to do more right? Is there a way that my property manager or I can set it up to send me automated e-mails when rents are deposited?

Any other helpful features you recommend asking them to use?

I think it's a legitimate concern. But you have to consider that not everyone on here invests in your area. Those that are might not have capital right now, might not be interested in that asset category, or are too busy working their current deals. I think if you leave off location, you can still get a lot of helpful advice from the community without burning your deal.