Up to $25,000,000 (yes 25 million) to invest

[Philip Bashaw]

Hello BP People!

I figured this might be the best place to post this and get feedback. Through networking, I have perhaps stumbled upon the golden goose that all real estate investors seek. No offense to a the hard money lenders on this site, but I am over hard money and have been looking for a silent partner/private money lender for almost 2 years now. I have been relatively quiet with my local REIA and other groups because I have had a single purpose; find lower cost financing for my deals!

Now, there is a wealthy individual that wants to jump in the real estate game as a silent partner and has set aside 20-25 million dollars in a liquid account for investing. I am meeting with him (and my contact) after Labor Day to discuss ideas & options and want to make a good impression. He has no real estate experience other than buying his own homes.

This is not the first wealthy individual I have rubbed elbows with so I am not nervous at all. Prior to becoming a real estate investor, I was a high end landscape designer/contractor and had several clients with loads of disposable income. As a real investor now, I see and talk to people with millions of dollars all the time. My biggest fear (more of a concern) is that I don't make a good enough impression and he takes his money elsewhere. I am a future millionaire, he is just ahead of me right now.

To be clear, I don't expect this silent partner to fork over the entire 25 mil and say "Have fun guys!" but I do know to put 3-4 million of it to use right away in single family fix n flips and small apartment investing. I know how to listen and see where he is coming from and what kind of return he is expecting. My suggestion would be a 10% return short term and up to 30% return long term when we buy a distressed apartment building or buildings and turn them around. I am the boots on the ground and always looking at, analyzing and number crunching potential deals and they all work best without hard money. This is why I'm pretty excited about meeting with this person!

As always, I welcome your feedback and look forward to any and all responses. I am thinking about putting together a short synopsis of my my background, training, projects and future deals to give him at our meeting. We are meeting for lunch initially, so it's not going to be formal.

Thanks!