Alright guys, this is my first post here. This is an advanced question, and I don’t know if anyone here will be able to answer it.
I am a commercial real estate appraiser in Washington DC for a national firm. I do appraisals of all big properties, apartment buildings, shopping centers, malls, office buildings, industrial buildings, subdivisions, condo conversions, etc. I have been doing this for a few years. I also have several smaller investment properties (duplexes) that I have owned for a number of years. I’m interested in starting sydications (partnerships) w/ other investors to buy larger properties. I’m looking for people who have experience in such endevours, either as the sponsor (general partner, me) or from the investor perspective. I’m interested in learning how to market such ideas. I see several "bootcamps"and books on here. But they seem pretty low level to me. If anyone has any ideas, I’d be very interested to hear them. Thanks guys.
JD
Well I just typed you a lengthy reply, but the damn thing timed out before I clicked send and the system lost all I wrote. Here are the basics.
Determine how to tell the story… define the target property type, explain how you will make profit: increase revenue (how? raise rents, management? rehab?), appreciation (describe market opportunity). Create a package of documents including an executive summary (find a format to follow - an investor expects to read for 5 minutes and understand what you’re doing), a cash flow analysis, and a ore detailed document describing yourself, the project opportunity, market, risks, etc. Describe what you will do and how much and for what you will get paid (acquisition fee, management fee, profit sharing). Are you putting in your own cash?
Then line up your players: equity and debt investors, lenders, attorney, etc. There are various ways to put the next pieces in place and there are several good books available. It is popular to use an LLC to take take and then transfer the ownership as appropriate. Have fun!