All Forum Posts by: Kurt Kwart

If weekly people are just in the off season I can see that working and seems like that is what other similar operations do (or they greatly increase the rate in season). Would the number work to make it nicer and to attract a better clientele?

1 Vote

Originally posted by @Justin Eaton:

Hey everyone! I am looking to transition from primarily doing flip projects to multi family syndication. I would like to start with a 10-20 unit property in the local South Jersey market and grow from there. I've been a part time flip investor on the side since 2014 and I've just completed my 12th flip project. I've also done one wholesale deal, one BRRR on a SFR, one live in flip, and currently living in a house hack duplex. All of my projects have been in New Jersey (South Jersey).

I have read various books on multi family investing including The Complete Guide to Buying and Selling Apartment Buildings by Steve Berges, Multi Family Millions by David Lindahl, Crushing It In Apartments and Commercial RE by @Brian Murray, and Raising Private Capital by @Matt Faircloth. I feel like I have a baseline knowledge

With that being said, I feel like I have a good grasp on how multi family investing works in general and the power of value add when it comes to multi family properties. However, the syndication part I am not as well informed on. I wanted to reach out to the BP community and get some tips on how to get started in multi family syndication deals. In addition, in the books that I have read, I haven't found too much info on how to structure the deals financially in terms of equity, cash flow, etc between myself (the sponsor) and the investors.

Looking forward to good discussion!

@Justin Eaton glad things are going well. I think the key to syndicating in our market is closer to the size you are looking at. I just closed on something similar that was syndicated. Everything that 100+ doors rebounded in prices a few years ago. The key for me has been to find the right deal and then the money.

or maybe buy some land and build something that a multi unit

0 Votes

Originally posted by @Paul Stewart:

Originally posted by @Kurt Kwart:

Originally posted by @Paul Stewart:

Originally posted by @Kurt Kwart:

Originally posted by @Evan Torrens:

Interesting Paul. Was actually wondering about this. Studied the market a little and didn’t seem saturated at all especially compared to where I am now. Where even with more and more listings coming on board I am still able to come up on the first page of search results in AirBnb

I’d think if the host is doing it the right way it would actually be beneficial to the neighborhood. As I’ve read there seems to be a lot of crime. Let me know how meeting goes. I think there’s still enough to go around down there. I’m also interested in just owning sim general as seems prices are low and there are some good deals.

Do you own or arbitrage ?

I’m also interested in possibly just buying some land. I saw some nice lots near the water. What are your thoughts on that? Read there’s is a lot of flooding issues.

Compared to other markets I don't think it's saturated. Surprisingly, there are some STR is higher crime areas I would have never expected.

I'm going live with the first AirBnb in the "Orange Loop" and there are no listings within many many blocks.

I've been skeptical of STR for many years here but finally came around after doing it summer 2018. Now I'm all in and the area is very early on in the recovery of home prices.

With flooding, Gotta just build high foundations for a garage underneath

Sounds like I need to go to the council meeting Wednesday, thanks for the heads up Paul

Hey @Kurt Kwart Let me know if your gonna go to the council meeting tomorrow. I have been wanting to meet up with you in person for some time. We have spoke a few times back and forth on Instagram and on here. Not sure if you put the two together. Either way let me know maybe we can break some bread after.

Hey Paul, We looked into it and it's not on the agenda for tonight. It was on the agenda for last months meeting but they pulled it.

We gotta meet up for sure. We are having a showing of our AirBnb behind the Tenn Ave Beer Hall tomorrow night. THere is an RE meetup at the Beer Hall.

@Kurt Kwart ahh man you got to be kidding! Last month it was on the agenda but they never addressed it so they said they were moving it to this months. Either way i'm going to go. I plan on moving to AC full time within the year so just good for me to get involved and see what's going on in general. Tomorrow night there is a meet up as in Thursday? hmm... I planned on going back to NY tomorrow but maybe i'll stay around. I don't have anyone checking into my house till Friday.

Better get used to it in this town haha