All Forum Posts by: Tito Burgos

@Alex Deacon I would need to partner up with someone outside my area.  I need to be able to drive to the property and in my area the purchase price alone for a property could be 200k or more.   With 300k I might be able to fund one deal and that's putting all my money into that deal.  

I've been investing in real estate for over 20 years, mostly buy and hold condos and a few flips. I've been saving money to buy a multifamily property but it's been two years, a few close calls but I have not been able to find a property with a decent return. I have about 300k in cash sitting around that I was planning to use for my down payment and I was thinking of using those funds to provide private money to flippers. I don't have any hard money lending experience and I never used a hard money lender. However, I have a banking finance background and I don't think the underwriting for HML is complicated. I don't think 300k is enough to fund multiple project in the area I live so I was thinking of perhaps starting to get into this business by providing funding to flippers for the down payment normally required by HMLs. This is very risky as HMLs do not like 2nd liens to be put on the property.

Wanted feedback from the you guys on what's the best way to secure my investment and if any of you have done this what advice can you provide?

Thanks.

Chris, I tried to PM you but there doesn't seem to be a way to do that unless you're connected to the person.  Can you provide more info. on the deal and are you in GA?  

If it's a value add, I would choose the path of syndicating the down payment, initial reserves and upgrade cost.  You can increase the rents and hold for 3 or 4 years and refinance, hopefully you would have built up enough equity to pay the partners off in the refi and now you would be the sole owner with a mortgage.  You may need to wait more the 4 years for the numbers to work out but you won't lock your investors money for 10+ years making the incentive to invest with you more attractive.

I'm looking for partners to invest in multifamily properties.

Requirements:

• Minimum 100K ready to invest.
• Willing to learn and have some involvement in the process (non passive)
• Comfortable with risk.

Mentors welcome.

Inbox me for more details.

Hey Reif, I'm also looking in that same area for similar information.  I'm not having much luck in Jersey so expanding my options.  

Thanks

I'm ask looking to get into syndicating multifamily deals.  I've done a few deals on some of the crowdfunding sites as a passive investor but I want to transition into sponsoring deals.  I would like to team up with a mentor who can help me break into this business.  I leave in NJ and it's not the best market, been having a hard time finding a property with good returns.  Willing to work with someone on out of state deals if necessary.

Thanks

@pavel redko I'm interested in syndication deals as well.  Can you put me in contact with your friend?   PM me for more details.

Thanks.