All Forum Posts by: Tamiel Kenney

Hi Shiv!  

I can tell you from a Deal Sponsor/Lead Investor point of view...it is a lot of work. (Even on our small deals under 10 units...they can be more work).  Unless you are wanting to make a career change, I agree with a previous post that you should look for Passive deals to be a part of.  I understand that 5-6% return is normal in some parts of the country (and friends in Canada say the same).  However, in the markets we look in...we won't even look at buying an Apartment Complex for less than 10-12% cash on cash return annually.  (Markets we like to buy in are Dallas, Houston, Atlanta, Tennessee). My last piece of advice, make sure you trust who you are investing with.  Good luck, and congrats on being newly married! 

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Hi Mchael Arrieta!  We invest mostly in Dallas and are expanding to Atlanta.  We underwrite our deals with $3,000-$4,000/door for rehab and adjust this number higher or lower after due diligence.  We also buy Value Add properties with a plan to sell after we double the investors money within a 3-5 year period.  

Hi Jerry! My husband and I have been buying larger Multifamily in Dallas mostly for 3 years now. Even if you want to be a passive investor in someone's syndicated deal, you really should learn how to analyze deals for yourself....so you will have an idea if a deal that is being presented to you is a good deal. You will want to see if the sponsors are presenting the numbers honestly. For example, we have seen people manipulate the numbers (for example, putting reserves in the wrong place in their analyzer spreadsheet on purpose) to make the numbers look better to passive investors. What I am saying is...if you educate yourself enough to know what deals are really worth investing in and you see if a potential deal sponsor is fully open and honest to answering any questions or concerns you may have...you can save yourself some stress and make yourself feel more comfortable. Any investment has risk...so educating yourself will help.

Dallas is a hot market as companies continue to relocate their headquarters here. Even though there is a significant housing and apartment building boom...we are still short on housing.

We buy B and C class apartments and the returns are better, typically, than an A class building. Someone stated earlier that cap rate is 5-6%...and I believe that is true for A class properties. Cap rates are always changing, but we are mostly seeing Class B & C cap rates in the 7-8% range…but it does vary.

Lifestyles is a big group that teaches Single Family and Multifamily investing.

Brad Sumrok in Dallas teaches only Multifamily. He is having a 2 day training July 16-17th - that might help you with learning some of the basics of investing in Multifamily. There are typically 300-400 other investors - includingvery experienced to newbies.

Also, Grant Cardone has podcasts on investing in MF.

The Real Estate Guys are a great resource as well.

DMI and The Real Alliance also has real estate investing training in several big cities in Dallas.  They will also be holding a free training in Dallas starting July 14th, which we will be attending.

I also just discovered this free booklet that you can download...it may be a helpful starting point for you.

"The Essential Step-By-Step Guide ToApartment Investing" by Multifamily Partner.

Good luck in whatever you choose. Please be careful! I know you worked hard for your money and I hope you learn how to make your money work hard for you!!

Please feel free to reach out to me if you have any questions on anything.