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Structuring Syndicated, JV, and Sole Propietorship Equity?
Beginning from the terms Member/GP and Manager/LP, a syndication would have an equity split between the GPs and LPs that is heavily favored towards to the LPs, a JV would be an equity split among multiple GPs alone, and a sole propietorship would have one GP. Only a syndication has LPs. Are both of these statements correct? I am trying to understanding this from a model focused on syndication. Thank you for the input.
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New comment 4d ago
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Our Toughest Deal Refinances to Agency - 3 years in the making
This was the most difficult project in our career, and I’m proud of this story of perseverance and ultimately preservation of capital. In a time where there is much negativity towards Syndications and multifamily, this story hopefully gives hope to the operators out there doing the right thing, giving every bit of smarts and execution to protect capital. This story is a save. I don’t know many other operators that would have been able to pull off what we did and the challenges we faced, how we survived and thrived. Our strength as GP guarantors at Sharpline, our track-record, our relationships with Freddie and Fannie were the key. It’s a testament to Sharpline and the commitment of our team as well as the patience and belief from our investors. I want this post to be a reality check and not considered bragadocious but give homage to the people in Sharpline and the many partners (lenders, vendors, consultants, investors) that helped get this insurmountable project to where it is today. Here we go. 3 years ago we bought this as a heavy value-add post covid. We couldn’t get new roofs that were leaking for 7 months, so this inhibited our reposition to improve the property, which kept some of the bad elements at the community there longer than we wanted. Fire property management company 1 , Fire property management company 2 (proverbial jump out frying pan into the fire, scary). Decided to self-manage project. This was in an early stage of our self-management journey about 2 years ago (we now self-manage 1500+ units). We purchase one half of the project with cash and the other with a bridge loan with floating rate debt (our only floating rate Sharpline has ever done, we didn’t buy a rate cap either, not smart) 4% bridge loan. We begin to execute capex plan successfully (we ripped the mansards off #MansardSlayer). The process of reposition took longer than we liked because of construction delays and bad PM companies, but we ultimately had the safety net of the 24 unit townhouse project that was getting higher occupancy that we purchased with cash as part of the syndication. So we refi’d the 24 unit with a local bank and GPs personally guaranteed the loan as we continued to do projects. This allowed us to free up liquid capital to continue executing to get higher occupancy, but we were still not there yet. We were at 65% overall occupancy on 128 units and the community was improving.
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New comment 5h ago
Our Toughest Deal Refinances to Agency - 3 years in the making
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How NOT to Sound Like an Idiot - Series
Go to Classroom area to check it out. I will be adding more an more episodes in the series. https://www.skool.com/multifamily/classroom/1987cf64
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New comment Oct 13
Intro
Hi, my name is Francisco Torres, everyone calls me Paco! I have had my real estate license in Northern Virginia for over 10 years, mostly just refferals/friends and family at this point as my real goal is a rental portfolio. I am currently doing a few short term lending deals for some fix and flippers and looking to invest the rest of my capital in multifamily deal. Looking for a smaller multifamily deal not so much of 200 unit syndication deal as I'm looking to start off small then build from there. I'm looking for 3k a month and have 100k to invest to get me there or as close as I can get. I would love to connect to any newbies or experienced investors. If anyone needs access to the MLS in Northern Virginia, Maryland, DC or Pennsylvania just let me know, I would love to contribute anyway I can!
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Understanding Constraints in Multifamily Leasing 🏒
Hey everyone, I am new to the content creation game, so if this video provided any value to you at all please let me know. Also, when I screen recorded my handwritten notes on my iPad the file was accidentally deleted. So I re-recorded the entire handwriting portion using my laptop so that you still had a visual aid. Hence why my handwriting jokes make no sense LOL Anyways, if you want the full breakdown, notes, etc. Please check up the link to this video in our new multifamily operations course here: https://www.skool.com/multifamily/classroom/a3a46b09?md=6a3ce78263d54f30864a832f3f2e48c7
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New comment 3d ago
Understanding Constraints in Multifamily Leasing 🏒
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