This is a numbers game so you may have to take an aggressive approach towards negotiating several deals before one of them actually works out.

I’ve been in the real estate game for over two decades, and I’ve had my fair share of experiences with PM companies... some stellar, others not so much.Here’s what I’d suggest:Start Local: In OC, there’s a lot of value in picking a PM company that knows the ins and outs of the area.

It’s a great place to network, learn, and level up your investing game, whether you’re just starting out or already have a few properties.

Game changer.

Views, indoor pools, game rooms and proximity to attractions.

In my case I was lucky that I still kept half of my portfolio, so didn’t get out of the RE game altogether.

But from my limited time in the game, I’ve found that my complete lemons are cash cows a few years later as market rent comes up well and my cap ex fixes a few years ago have paid off.

I personally like one sponsor who has been through multiple real estate cycles without losing any investor money, puts very large amounts of skin in the game, is conservatively leveraged and has a very good 1031 exchange program.

These types of loans typically require at least a 10-20% down payment, as lenders want to see that you’re financially committed to the project.There are ways to get creative but they still require some form of skin in the game. 

Unfortunately most lack the balance sheet to obtain favorable financing, can't afford to put any skin in the game and fail to make a compelling reason for why the investment makes sense or to justify the structure they are seeking.