All Forum Posts by: Trevor West

@Rodney Robinson I understand 506b/506c from a surface level approach. Those nuances are definitely value-added. We will be meeting with our attorney to hash out some initial details on Wednesday. We intend to bring on the SEC attorney, should the deal call for one, once we go under contract. Thank you very much for your input. 

Charles - this is a wealth of information, thank you! The sponsor portion is definitely key and I have one or two I have already spoken to. But a sponsor is different than a General Partner right? 

Additionally, when it comes to raising funds through investors, you make a really solid point. I intend to be good at raising capital, so I better start getting those reps in now. 

Thank you again for sharing your time.

Life is too short to be small! We are focusing on building our TEAM, finding our DEAL and raising the MONEY. Our outlook is if we find the right deal, then the money will follow and will be looking to be General Partners with someone with the capital or a team of individuals with the capital. We have done our research and found our target market. But we won't figure out all of the minute details until we take ACTION. The goal is to be under contract for a 10-100 unit apartment building/complex in central North Carolina with a minimum 8% CoC Return (Year 1) and 14% IRR (Year 5) in 90 Days.

For all those who have experience in apartment syndication - please send any lessons learned from starting out. Thank you in advance. 

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Lillington.

Purchase price: $212,500
Cash invested: $1

This tri-plex is in a more rural community. Although the property value is not on a fast track upward, it is a desirable property due to its seclusiveness and size (3500+ sqft). It is a consistent cashflow property.

What made you interested in investing in this type of deal?

I think multi-family homes are the best way to get started if you have financing options available to you (which we all do as long as we get creative). I did not have to get too creative with this property.

How did you find this deal and how did you negotiate it?

I found this deal on Zillow. I had looked at it multiple times and didn't think about it. One day I just ran the deal and decided I would check it out and make an offer that worked for me. The property had been listed for over 500 days so I was able to get it for less than asking.

How did you finance this deal?

VA loan

How did you add value to the deal?

TBD - the property doesn't need much

What was the outcome?

Cashflow and consistent renters

Lessons learned? Challenges?

This one was pretty smooth.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

5 Pillars Realty Group - Fayetteville, NC

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Lillington.

Purchase price: $212,500
Cash invested: $1

This tri-plex is in a more rural community. Although the property value is not on a fast track upward, it is a desirable property due to its seclusiveness and size (3500+ sqft). It is a consistent cashflow property.

How did you finance this deal?

VA loan