My first GP Experience From Kuwait and Lessons Learned

[Keishia Kennedy]

𝙊𝙫𝙚𝙧𝙨𝙪𝙗𝙨𝙘𝙧𝙞𝙗𝙚𝙙 𝙛𝙤𝙧 𝙤𝙪𝙧 𝙥𝙧𝙤𝙥𝙚𝙧𝙩𝙮 𝙞𝙣 𝙒𝙖𝙘𝙤, 𝙏𝙓 ⁣
⁣
What does oversubscribed mean in funding? My partners and I got more investors or capital offered than needed 😲 Our capital raise was $1.5M. This property is in a prime location near Baylor University and has significant upside in rents. The best part of this asset is that it is a light value add and management. Increase rents to market, tighten up expenses while new management operate well in order to receive the best returns for our investors. Our buying criteria is low risk/downside and significant upside is the asset type we purchase for our investors! ⁣
⁣
This was my first general partner (GP) role and I would like to share my experience with you by being transparent.

𝗟𝗲𝘀𝘀𝗼𝗻𝘀 𝗹𝗲𝗮𝗿𝗻𝗲𝗱 𝗱𝘂𝗿𝗶𝗻𝗴 𝗚𝗣 𝗲𝘅𝗽𝗲𝗿𝗶𝗲𝗻𝗰𝗲 𝗽𝗿𝗶𝗼𝗿 𝘁𝗼 𝗰𝗹𝗼𝘀𝗶𝗻𝗴⁣
🙋🏾‍♀️𝗛𝗼𝘄 𝗶𝗺𝗽𝗼𝗿𝘁𝗮𝗻𝘁 𝘁𝗵𝗲 𝗼𝘁𝗵𝗲𝗿 𝗚𝗣𝘀 𝗮𝗿𝗲 𝗶𝗻 𝘁𝗵𝗲 𝗱𝗲𝗮𝗹-I realized why it’s important to have a strong team in place once I became a GP. You have to ensure you trust the GPs that you work with on your deal. One time I was a bit hard on myself and one of my GPS had to give me some encouragement. No I didn’t give up, but it’s 𝘀𝘁𝗿𝗲𝘀𝘀𝗳𝘂𝗹 raising capital on your first deal. She told me to document every win daily. This was the best advice from my fellow GP. Your mindset has to be strong.
⁣
🙋🏾‍♀️𝗕𝗲 𝗽𝗮𝘁𝗶𝗲𝗻𝘁 𝗮𝗻𝗱 𝘁𝗿𝘂𝘀𝘁 𝘁𝗵𝗲 𝗽𝗿𝗼𝗰𝗲𝘀𝘀-I was on the phone daily with minimum six calls with potential investors every day over the last couple of months. For those that do not know I live abroad in Kuwait. I am 8 hours of EST time zone. As a capital raiser, every investor call booked will not result to a committed investor. I learned to trust the process and continue to put those reps in with calls, build my database, and improve my communication skills with each call. ⁣
⁣
🙋🏾‍♀️ 𝗕𝗲 𝗰𝗼𝗻𝘀𝗶𝘀𝘁𝗲𝗻𝘁- expose my brand on a daily basis, which builds creditability with potential investors and leads. My next GP opportunity I plan on using Bigger Pockets. I’ve posted on all of my social media platforms, but failed to use one of the best platforms Bigger Pockets. I was consistent⁣
⁣
🙋🏾‍♀️ 𝗢𝗳𝗳𝗲𝗿 𝗺𝗼𝗿𝗲 𝘁𝗵𝗮𝗻 𝗼𝗻𝗲 𝘄𝗲𝗯𝗶𝗻𝗮𝗿-Our webinar was solid. We received many qualified investors and questions that was recorded. This was helpful with raising capital for our deal because questions being asked were beneficial to others listening.
⁣

What lessons did you learn from your first GP deal?