All Forum Posts by: William Washington

I am coming up on 3 yrs in my real estate career. I recently came to the realization that I only have 6 units and my goal was 20 units before age 30 and I just turned 29. Syndication has been my goal from the beginning of my real estate venture. I am putting together a deal now and I have 2 individuals who want to invest with me. I am considering 2 value add properties in the Youngstown area. One is a 12 unit with some cosmetic updates but lots of differed maintenance and the other is a 13 unit with under valued rents and needs some updating. I am trying to secure financing in this area does anyone have suggestions for this market.

To the experienced Syndicators: What percentage of preferred return do I offer investors/equity partners in a deal split between 3 partners I have been seeing 6-8% consistently. However being a first time operator what do you experienced operators suggest for my position? Should I be paying more considering that this is my first deal like this?

@Star Dawson

No such thing as dreaming to big sis. I bought my first duplex a few years back and a 4plex after. The loan qualification requirements and down payments were the same. I was making far below 6 figures at the time but there were several programs out there to assist me. I found out about them by just badgering loan officers with questions until I got enough info to do everything necessary to qualify. Then I found a property that fit my criteria and bought it. I repeated the process. Now I’m working on acquiring a 12unit. I say all that to say if you want it go get it.

I intend to purchase a multi family investment property and I have several individuals who want to contribute  to the capital necessary to acquire a property. At this point the capital is not an issue however, I need information on how to structure a deal properly and pay off my investors and what interest rate is appropriate to offer investors. Please offer any insight at all.