Daisy Chains

[Jeanine Boyd]

In the last 7 months I've been approached by commercial investors. So I check them out as much as possible before I speak to the so called "seller". What's the proper way to get rid of these daisy chains? I'm so tired of having people sign ncnd's and never speak to the proper people. I lost a client doing this! I have real investors that want to invest nation wide in hotels, resorts, casino, etc. They know what cap they want as well as the locations. I received 15 new potential clients today. I'm new to the commercial side of things. Should I find an asset management company or what? Please advise.....

[Jon Holdman]

Jeanine Boyd if you're representing buyers with cash to buy hotels and casinos I assume you've already closed some of these multi-million dollar deals. I'd think you have made some contacts with real brokers who are really selling real properties. I don't play in the space, but I have a pretty good idea of who the real brokers in commercial are here in Denver. There are three or four who's signs appear on at least half of the for sale or for lease commercial properties in this area. I suspect that's true in most location. Seems like you would just be making direct contact with the folks who are actually brokering these properties.

IMHO, "I need you to sign this NCND" has the same meaning as "I'm bogus".