What’s required for a sponsor to do a deal with a newbie

[Shannon Hogan]

BP

Why is it so difficult to find a sponsor? What are sponsors looking for in a commercial deal? For an example, I'm looking to do my first commercial syndication deal but I need a sponsor. The deal is a 5 unit strip with one municipal tenant and 4 AAA/NNN 10+ yr contracts. It's has a 6% cap rate.

Is it something else besides the numbers in the deal? Is it a certain personality trait in the newbie?

[Kim Lisa Taylor]

@Alina Trigub is right. You have to go to networking or training events and develop relationships with others who have the experience you need in the asset classes you are buying. No-one will put their credit on the line until they know you and have looked at the deal to see if it makes sense for you and them.