You just quit your job...You are off on your own...What are the first couple things you do?
Title says it all. You have 7+ years of development or REPE experience, and the Marcus and Milichap broker has sent you a land site or class C 150 unit apartment deal in the Dallas MSA. You have enough money to do third party reports and put up the deposit. You quit your job because it will generate enough fees for 1 year. What are the exact steps besides put it under contract?
1.) Not put it under contract because I have no idea how I am going to finance this thing.
2.) Figure out how I am going to finance future deals
3.) Think of an actual strategy and how I will differentiate my business from competitors or have a competitive edge
4.) Continue working for a company that ideally pursues similar deals to the ones I want to pursue until I figure out how to finance similar transactions and have an actual business plan.
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