Finding JV partners/ co-GP

[Vicky S.]

Hello Mentors, 

Looking at my first syndication deal. have a Q for the seasoned professional who has done this many times. 

I have come across an off market deal in a growing market. I think this does warrant a more analysis. however the agent says that i have to show POF and sign an NDA to get more details. NDA is not the issue, POF is surely the concern. how does one really get around this reqm?

Also i know i will need JV / GP partnership on this one. so how does one protect himself ensuring that if I do share the details with a prospective JV/ GP partner, he will not bypass me and directly do the dealings with the agent and keep me outside?

these are just the series of first Q i would have, i know will have more and will come back to this group for help and support and confident that i shall get it as i have got it in the past too? 

[James Hamling]

@Vicky S.

On the partner protection side; you have them sign a NDA with a non-compete component. That's simple enough, just hope you don't have to enforce one because that can be a drawn-out nightmare so don't blindly trust that paperwork will make everything go a-ok, it only empowers your ability to seek relief/damages after the fact if. So best action is to really vet your prospective partners first. 

If it was one of my deals, you don't get around the POF, period. I have 0 interest wasting my time with tire-kickers, and there is no shortage of "wanna-b's" out there who don't have a snowballs chance in hades yet they will want to play out a deal to then attempt some stupid-ploy like subject-too. POF is a simple method to weed out actionable and non-actionable. And it's a good sign, it says whoever your dealing with they are serious about getting a deal done, not just exploring opportunities.