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Syndications & Passive Real Estate Investing

All Forum Posts by: Taik Kim

Taik Kim has started 0 posts and replied 1 times.

Syndications & Passive Real Estate Investing

Post: Anyone has invested with Open door capital? How was your experience?

Taik KimPosted
  • Posts 1
  • Votes 1
Quote from @Madhan S.:

I have invested with Open door capital (Brandon Turner) in two different projects - Array at Austin and Cypress at Houston. Both of them have had poor results and stopped monthly distributions since June this year (they had projected 6% and 8% CoC). I am disappointed in their results due to poor NOI and I believe they didn't do a decent job in due diligence prior to purchase. Hope NOI and CoC will improve in the near term, until then avoid putting any new money.

I agree. In the same boat with Array apt. Disappointed for sure. Not sure when it might bounce back but the whole commercial market had a boom then busting with higher loan rates. It’s not wise to invest blindly trusting the operator reputation alone, without deep diving into many syndications. And if you’re not too sure, I think direct investment is the way to go. At least you can exit and recoup funds sooner. 
1 Vote