No cap and trade, no more fake stimulous bills, no bribes for the health care.

I've reached out to my personal contacts as it pertains to obtaining LPs and have soft commitments for various projects.

That being said, there is no rule that says you have to put in a share, it's just more difficult to raise money from LPs with both no track record and no skin in the game.juan

I can tour multiple acquisition targets throughout the week in person with appraisers and contractors without leaving the state.Side note, most of our prospective LPs also live in Chicago and Deerfield, IL. 

Or even LPs in deals?

@Zac SmithYou can structure it any way you want.Typically there is a GP, LP(s) and debt financing on a CRE dealThe debt financing is a loan from the bank but they will be first position in front of the LP’s but have no equity position.If you are not using debt financing, you could bring on other LP’sThe question that is going to be asked is “what are you bringing to the table?”

Another way sponsors achieve similar results is to have a tiered waterfall, so say LPs get a 80/20 split to a 13% IRR then 60/40 to 17%IRR then 50/50 etc.We have done tiered waterfalls in the past but like to keep things simple.Our Multifamily fund II waterfall for LPs is a 8% pref and 70/30 split all the way.

Hopefully this helps stimulate more questions as I'm pretty confident it didn't answer many haha.

Some lenders may seek to attract investors / stimulate growth by offering 0 seasoning requirement - especially to experienced and efficient borrowers. 

With 506(b), you must have a substantive, pre-existing relationship with all LPs.