Finding Limited Partners

[Ian Miller]

How do I find good LPs for my deals?

[Evan Polaski]

@Ian Miller, there is a reason almost everyone starts with people they know: friends, family, coworkers.  People they have existing relationships with and that trust them and want to support this new venture.

I am going to disagree with Corby a bit. Finding a property to buy is WAY easier than finding investors.  Not saying it is easy, but in comparison it is much easier.  So, then you get into brand building like Jonathan noted.  There is a reason you see all these syndicators with their own podcasts, blogs, hosting and attending meetings.  

While you aren't going to have investors, i.e. it is very unlikely but not impossible, that people will commit to a deal before you have identified one, you do want to grow your network of possible LPs and nurture them.  Again, this is where weekly email newsletters, monthly physical newsletters, etc come into play.  You are touching them and providing some type of education and value to them to bolster your own status, so when you ask for money they are more likely to say yes.

And, back to investors or deal first, no broker will ever award you a deal without a reasonable surety that you have the capital lined up.