Finding larger limited partners

[Bennet Sebastian]

Hey BP CRE pros,

I am trying to figure out how to make the leap from friends and family to larger equity investors like family offices or other professional or institutional investors. What are the key elements and profit splits these folks look for in a deal? What do they look for in a sponsor? Where do I start looking for them? CPAs, attorneys, wealth managers, mortgage brokers?  

[Don Konipol]

@Bennet Sebastian

Family offices and institutional investors look for deals where they can invest a minimum of $5 million; the sponsor has a net worth of $10 million +; the sponsor has a track record of success over 5 years or more in similar deals, and the sponsor invests his own money in the deal with a minimum of 5% of the equity.