Win
First LP deal went full cycle at 3.5 years, 1.6x on $50k
Wired $50k in February 2021 into a 96-unit 1998 build in a mid-size southeast market. Property sold in August 2024 and the final distribution cleared last month, so I can finally…
Loading
Real estate syndication pools capital from multiple investors to acquire a property too large for any one of them individually, with a sponsor (the general partner) managing every aspect, acquisition, financing, operations, and eventual sale, while passive investors (limited partners) contribute...
Log in to followWired $50k in February 2021 into a 96-unit 1998 build in a mid-size southeast market. Property sold in August 2024 and the final distribution cleared last month, so I can finally…
Looking at my first LP deal instead of another flip, and the summary page has three numbers stacked on top of each other. 15% IRR, 1.8x equity multiple, 8% average cash-on-cash. O…
$75,000 into a three-property self-storage portfolio in a secondary southeast market. Plan was to buy older facilities running at low occupancy, add climate-controlled units, push…
Running the fee math on two offerings that are close enough in asset quality that the difference in what I take home is mostly structure. Stripping the marketing out, here's what…
My business is service work, so clients vet me all day long, and I've got a decent sense of which questions actually reveal something. Now I'm on the other side looking at a first…
My portfolio is small and all in my own state, and my return is already annoying. The syndication I'm considering owns a property in Georgia and I don't live there. My accountant…
Closing on my first rental in five weeks and I got offered a $50k slot in a 128-unit deal that's the same money as most of my down payment. So I actually read the operating agreem…
I've got $50k set aside that I'm willing to have locked up for five years, and I've been reading LP deals for about four months. The minimum on most of what I see is $50k, so one…
I've got three offerings open in front of me. Two multifamily deals take $25,000 and one takes $100,000. One of the $25k sponsors asked for a letter from my CPA confirming I'm acc…
Been looking at land plays for two years and this is the first syndicated one I've taken seriously. 310 acres on the growth edge of a mid-size western metro, currently agricultura…
Two term sheets on my desk, both value-add multifamily, similar markets, similar leverage, similar stated hold of five years. Deal A: 8% preferred return, cumulative and compoundi…
I put $60,000 into what I understood to be a limited partner position in a 250 unit apartment deal. It wasn't. The entity I subscribed to was a special purpose vehicle that pooled…
I've got about $90,000 sitting in an old 401k from my construction years and I moved it into a self-directed IRA to look at LP positions. The custodian says they'll sign the subsc…
Numbers first. $75k into a 212-unit 1990s build in a sunbelt market, funded June 2022. 8% pref cumulative, 70/30 to a 14% IRR hurdle. Projected 1.9x over five years. Monthly distr…
Spent twenty years pricing jobs where every line item was labor, materials or overhead, so the fee page on this multifamily offering is bothering me. 2% acquisition fee on a $14M…
Three years ago I put $50,000 into a self-storage syndication. First LP check I ever wrote. The sponsor's deck had five prior deals on it, all full cycle, all between 1.7x and 2.2…
I've been reading two offering models side by side for a week and the thing that keeps stopping me is the terminal value. Deal one: 200 units, entry cap 5.1, exit cap 5.25 at the…
Eleven units across four small buildings, all self managed, all bought under 2021. I have $75k that isn't earmarked and for the first time I'm looking at LP positions instead of a…
Reviewing a $34M multifamily acquisition. $11.5M of LP equity, bridge debt at SOFR plus 340 with a rate cap that expires in 14 months, interest-only, two 12-month extension option…
I've spent most of my reading on the debt side because I like the idea of being the one who gets paid first. Now I'm looking at a $50k LP slot in a 96-unit deal and I'll admit I d…