The general partner, or sponsor, is the active operator of a real estate syndication: the party that finds the deal, underwrites it, arranges financing, raises capital from limited partners, executes the business plan, and manages the asset through to sale.
Log in to followI'm nowhere near doing this, I just wanted to see the GP economics from the inside instead of reading about promotes in the abstract. So I built a fake deal and paid myself in the…
A sponsor I've managed for over four years wants me inside the GP on his next one, a 112 unit two-property portfolio, 9.1M all in, 3.2M equity. My side would be asset management:…
My balance sheet is done. 11 units across four small deals, all cash flowing, all levered as far as any lender will go on my income. The next deal I want is a 38 unit at 4.2M, 198…
I asked to see documents on a deal a friend's family is in, mostly to practice reading them. 240 units, $34M purchase, $12M equity, five to seven year hold, $4.8M of hard costs in…
Purchase $18.2M, 152 units built in 1984, $3.1M of capex over about 30 months. Total equity $6.9M with $500k of that mine. Waterfall is 8% pref, 70/30 to a 13% LP IRR, then 50/50…
Under contract on 64 units, 1983 vintage, two-story garden walkups in a secondary southeast submarket. Where the numbers sit today: Purchase 6.4M (100k a door) Reno 1.12M (40 clas…
An operator I've been following wants me on his next deal, after six months of research and nothing to show for it. 84 units, 7.8M, he's raising 2.6M. He's done five deals, two of…