Just before we launched our first couple MTRs we started reaching out, networking, and pitching our model to local companies.

I am the opposite I have never bought new tires for a car in the last 20 plus years except for my Porsche which chews them up. and my model X Tesla which weighs a ton.. when i need new tires I get a new car :)  PS when the clutch went out on the Porsche at 25k miles and out of warranty it was 5k to fix it..

As for short-term financing, they are fairly easy to work with but the biggest hurdle is their internal credit model.

thanks for being so direct. the LP bought at 4 cap.

Hey Joshua,I'm currently in the throws of a development project in Brooklyn, and the $300 a sf model is a little light, especially if you plan on decent finishes. 

If duties were merely split between operations, capital raising and deal sourcing based on individuals strength and to spread responsibilities, I would be more understanding but that's not the new age model.

We wanted to test out the Padsplit model and have it in our portfolio.

Diversify - not only for risk but to also learn more about being an LP. see how GPs interact, communicate etc.

The manual entry of numbers has moved to an automated model with accurate ARV, Cap Rates, etc.  

Leave credit cards at home in the freezer in a bag filled with water that has frozen over....lolAmazes me how many people fall for these types of programs.When I buy NNN properties either my buyers wanting to own direct and I find the property or whether they are accredited LP investor on my syndication deals they learn with me while they INVEST CAPITAL to own fully themselves or a piece of the deal.