All Forum Posts by: Tamiel Kenney

@Nicholas Kuton  Hi Nicholas!  I have 1750 MF units all through syndication...Currently in Dallas, Atlanta and Colorado.  If you have specific questions you need help with, please feel free to email me.  You definitely don't have to join a GURU...  To be successful in any business, you just have to be willing to put in the time to educate yourself and make good relationships.  This is definitely a relationship business.  Let me know how I can help you.  The Real Estate Guys Radio is a great source and they do 2 Syndication events a year!  I have found them to be very abundant mindset and actually have integrity versus just saying it.  Ken McElroy has a couple of really good books that I think you might find helpful as well.  He is associated with Robert Kiyosaki, Rich Dad Poor Dad.  Good luck!

@Anthony Smith  HI Anthony!  I have 1750 MF Units all through syndication.  I strongly suggest checking out The Real Estate Guys.  They have 2 Syndication events a year and I find them to be very Abundant mindset...and show true integrity.  If you have specific questions regarding syndication, please feel free to reach out to me.  

@Dylan Mohamed  Hi Dylan, Have you listened to podcasts on BP or anywhere else?  The Real Estate Guys Radio also have great podcasts and they put on 2 Events a year specifically on syndication.  We have 1750 multifamily units, all through syndication.  I encourage you to read books and listen to podcasts and look for events to attend - free or otherwise.  Ken McElroy's books are very good.  He is associated with Robert Kiyosaki, Rich Dad Poor Dad.  

@Stuart Humphreys  Hi Stuart, in addition to BP...check out The Real Estate Guys Radio.  They do podcasts and they have 2 syndication events a year, in addition to a couple of other events with really well known people who "pop-in."  

@Robert E.  Hi Robert!  People have a difference of opinion when it comes to paying all cash vs. leveraging the bank, but I personally would not pay cash for a property. Rates are still really low and if you run scenarios paying cash vs. buying with leverage (75-80%), you will find you make a much higher return with leverage. Also, if you did have a lot of cash, you would be better off spreading it across multiple deals.

I agree with the others that you have to bring something to the table in a partnership. I think 2 main things that would be beneficial….1) You find deals that others don’t know about 2) You can raise money.

Also, being a RE agent can be beneficial for residential, but if you get into multifamily, I don’t think it helps that much…just my opinion.

I also think spending time building your network of people (starting to build an investor database for syndication deals) and building on your education is likely more valuable than finding a second job.

Good Luck in whatever you decide.

Mark & Tamiel Kenney

Hi @Shane H., My husband and I came from a group that was led by a "GURU" and our goal is to be different from what we experienced.  Our first 2 events we had absolutely nothing to pitch or sell.  We have enough people asking us for a group and personal coaching now, so for this April event we will be presenting what we are offering at the end.  I assure you, we will make our offering but will not be a "pitch."  

My husband owned his own IT Company and our Webpage has gotten a lot of positive feedback.  

If you feel that you need a few references before you make the trip to Dallas for this event, I can send a few your way.  I want the event and experience to be well worth your time.

Hope this helps.

@Doug Martin

Hi Doug!  The amount of time needed really comes down to how involved you want to be. We syndicate deals where we raise money and purchase larger apartments and we are currently invested in 1750 units. We hire a 3rd party mgt. company to handle the day-to-day operations and we manage them. While I have a lot of flexibility, syndicating deals and overseeing the 3rd party mgt company is a full-time job for me. It can vary a lot, but a syndicator will make 3 or 4 times as much as a passive investor in a deal. But, the syndicator has a lot to do up front from a time perspective and financial perspective.

A passive investor has to meet deal sponsors (syndicators) and you will want to make sure you can trust them. You can pretty much review a deal, invest, review monthly reports, and collect checks. It is very passive and takes very little time. Although I syndicate deals, I also invest passively in deals myself and it takes virtually no time after I decide to invest. I have also invested with hard money in a fund, but prefer apartment investing…but, you could always do both.

Finding deals is the hard part. Even if you have the money, that does not mean you can go out and find your own deals. You need strong relationships with brokers to get deals. Sellers/brokers want to make sure you can close the deal and this requires a track record. You can partner with others that already have a track record.

If you tried to deploy $1.8-2.3M in SF, this would likely take you a long time to deploy. Investing in a few MF deals would certainly be a good option. Or, maybe you do both…buy some Single Family and buy some Multi-Family. I have done both and I personally prefer MF over SF. You get the economics of scale and with MF you are buying a business so you have a lot more control on how much you can increase the value of the business. With SF, your value is pretty much determined based on the comps.

I would say no matter what you do, get educated. Even if you are going to just be a passive investor, you will want to make sure you know what you are doing.

If you like to read...I recommend reading books by Ken McElroy - Rich Dad Advisor.  (ABC's of Real Estate Investing & The Advanced Guide to Real Estate Investing).  These are both easy reads and gives a good understand of Real Estate Investing...as well as Apartment Investing.

Mark & Tami Kenney

Think Multifamily welcomes you to attend our next Live Event -- R.A.I.N. {Real Estate Apartment Investors Networking Event} Saturday, April 22nd in Dallas, TX. Be among the 1st to register and receive a bonus session with a Special Guest Speaker! Get ready for some contagious energy and excitement at this event and gather your business cards and be ready to make great relationships with other investors! We want you to be a part of the Think Multifamily Family!!

***You must REGISTER at the link below to attend this event:
http://thinkmultifamily.com/register/

We are really excited to present to you special guest speakers for this event!!

What you will learn:  

• Invest successfully when working a full-time job
• Build generational wealth through apartment investing
• The critical steps required to invest in apartments
• Avoid the pitfalls involved in multifamily real estate
• How to find deals
• How to analyze an apartment deal
• What makes a good market
• Invest in Real Estate without being a Landlord
• Critical questions you should ask a deal lead/sponsor before you invest
• Syndication (raising money for group purchasing) and why you might choose to syndicate
• Network with like-minded people

Pricing for the event: 

At the door $197/person

Early Bird $97

*Bring your spouse or business partners to join you for this fun and informative 1-Day Training and Networking Event!  We look forward to seeing you at the EVENT!! 

***You must REGISTER at the link below to attend this event:
http://thinkmultifamily.com/register/

Testimonials:

Great presentation, playful and excellent! Love it!

Excellent job on inviting experts to speak on their subject.

Awesome set up on sessions (speaking & panel, etc.)

----- Sam

Excellent, professional seminar. Very impressed (and I already had high expectations)

--- Kendra B

@Benton Moss So sorry for the delayed response - thought we sent a response already...

Why would you consider a bridge loan with potentially higher rates if you had the cash buffer to stabilize the property yourself? i.e. would you only resort to this if you couldn't get traditional financing because the property wasn't stabilized and the lender would not underwrite it?

I would look at a bridge if we cannot get the traditional financing and/or…if there is a large rehab component and we want a bridge for 12-24 months and once we rehab and stabilize, the plan would be to move to perm. financing. The perm. financing should hopefully be at a much higher loan amount allowing us to pull a lot of cash out. Also, bridge loans are not always that much higher in rates….it somewhat depends on your experience, the property and the lender. We just signed a bridge loan in January for 4.5% which is really good.

Also, what are other differences between commercial and agency loans? I know agency allows for higher LTV but are there other stipulations with them? Are they more of a headache in terms of preparation and underwriting?

The basics are the same. Commercial vs. Agency is totally dependent on you and your experience. Typically a bank is not as willing to give as much LTV and typically shorter amortization, but if you have a relationship with a bank and have completed a lot of business with them, they can actually be pretty aggressive too. When you get to a HUD loan, that is when you have a lot of differences and you better have someone that knows what they are doing.

@Todd Hensy  Hi Jack!!  If you don’t want to manage properties or the property management company, you have a couple options.

1) Just invest passively, but if you do this you will have very little input on anything as the deal sponsor/lead investor will be the one making the decisions and you won’t be involved much in finding deals or negotiating them.

2) Become a deal sponsor yourself -- where you find deals, negotiate the deal, raise money, etc…but have a partner that you trust that likes and knows how to manage the property management company. There is nothing to say you can’t turn over the asset management to someone else.  You can be a lead investor...but then bring in someone else to be the asset manager of the property after you close on the deal.  Let me know if you need more clarity how this could be structured so you will have passive equity in the deal while someone else manages the managers.

Happy Investing!!!