What Investors and Partners Look for in a Proposal?

[Chanté Owens]

In the same spirit of @Karen Margreaves "Skin in the Game" thread; I've seen a lot of people inquiring as to what investors and/or potential partners look for when deciding who they will work with.

Some of my thoughts are around some common sense concepts like: referrals from others, and building relationships via being involved in RE types of organizations. However, my query is around the actual proposal and how it should be presented; especially if you have no prior experience and/or significant money to have a lot of financial "skin in the game." As an investor or partner, what are you looking at when you are viewing a proposal? Do you prefer brevity (ie, high-level information on the potential project) to even determine if you would be interested to request more information? Or, do you want as much detailed information as possible?

Also, if the person doesn't have the experience and finances equivalent to you, what can make their proposal attractive in your eyes? Example, if a prospect has a multifamily property in their sights, and they have no significant money to purchase it, but they can manage the rehab as well as the management of the property, would that be of significant value to a potential investor or partner to take a chance on that person? Perhaps the money split for the first deal would be heavily in the investors/partners favor for the first deal, ie 70/30, but as they work together more, it may become more equitable.

I'll be curious to see everyone's responses!