All Forum Posts by: Ian Loonce

You have every reason to be nervous. I don't know what it's like to be a billionaire, but I'm guessing they didn't get there by listening to pitches from amateurs. In other words, you need to bring your "A" game and have some hard numbers to present or you'll lose them quick.

If I had a deal like that, I would be partnering with a top REALTOR, the contractor, and others to ensure this pitch answered every question asked. You need a pro that can talk about the current market and the future, and not just someone that says, "It's a really hot market!" You need the contractor to demonstrate the quality of his product and past performance. Do you have evidence the developer can pull this off? Meet deadlines? 

So many questions that I can't even think of on the fly. Start doing your homework!

As Nathan said, you need to do your homework and go into this meeting extremely prepared. You say the meeting is happening this week? That is unfortunate, because I recommend you spend the next month preparing. If you're trying to sell a billionaire on lending you nearly $70 million dollars for some speculative waterfront deals, you need to go in prepared to talk about:

LOCATION - Access to property, comparable properties, demographics, schools, etc

LAND - Lot size, zoning requirements, entitlements, surveys, plot plan, utilities, etc

BUILDING - Isometric plan, unit count, amenities, how it conforms to zoning, what you will do if variance required, etc

TEAM - Who will be the architect, builder, structural engineer, mechanical engineer, electrical engineer, civil engineer, etc?

TIMELINE - How long will each phase of the project take? When will this project be stabilized?

FUNDING - How much money do you need? When do you need it? Are their any other capital partners proposed?

PRO-FORMA - What will the numbers look like and what will the return be on this deal?

Those are just the thoughts that come to mind right now. I'm sure there are a dozen other things to consider. And once you have all of this information together, you should put it in a professionally bound pitch deck. Something this billionaire can walk away with and study on his own time after the meeting.

You have every reason to be nervous. I don't know what it's like to be a billionaire, but I'm guessing they didn't get there by listening to pitches from amateurs. In other words, you need to bring your "A" game and have some hard numbers to present or you'll lose them quick.

If I had a deal like that, I would be partnering with a top REALTOR, the contractor, and others to ensure this pitch answered every question asked. You need a pro that can talk about the current market and the future, and not just someone that says, "It's a really hot market!" You need the contractor to demonstrate the quality of his product and past performance. Do you have evidence the developer can pull this off? Meet deadlines? 

So many questions that I can't even think of on the fly. Start doing your homework!

@Ian Loonce if you can prove that the inspector did not have a reasonable justification for why it was wrote up that way. You might have a chance. You can also sue for legal fees.

 ;point is you have not lost 32k unless you stay there the entire 30 years and if you pay more each month in a mortgage payment like many of us do you lower your interest expense as well.  So your going to have a hard time saying you lost 32k.  I know its an unfortunate situation for you I get that .. But I suspect there is not much your going to do that would not cost you thousands in legal fee's with a slim chance of winning.. etc etc.  you could sue and hope the E and O insurance just cuts you a small check.