A More Effective Pitch To Equity Partner
Hi All,
First time posting here and hoping for some helpful feedback.
I have a great opportunity in front of me and I'm really trying to make sure I do everything I can to make it happen.
(Background) Over the past year, through a little bit of luck and networking, I was able to form a great relationship with a very high level PE guy and gain his trust/respect. About 7 months ago, he approached me about investing in opportunistic RE deals, which he knew I was interested in. Currently, I don't have the capital to get deals done, so he proposed that we start something together and he'll fund it. He's extremely pressed for time, so I would be sourcing deals, running numbers and managing most aspects of every deal. On his end, he would be providing capital and determining what deals to undertake. For my sweat equity, I would be compensated with an equity stake in each deal with the opportunity to co-invest into perpetuity.
To date, we've created the LLC, funded it, sourced approximately 10 deals and made an offer on one of those deals (didn't get it done). I understand that all good things take time and I'm willing to keep grinding to make it happen. However, my concern is, I'm not pitching deals as well as I could be. Like I said, he's extremely pressed for time, has a family and other commitments to worry about. So on my end, I want to make sure that I'm really getting his attention, when does have free time to look at deals.
Currently sending him the following for each deal:
- Deal Overview (property details, etc)
- Model (npv, coc, irr, cap r, cash flows, etc)
- Demographic Reports (have access to esri software)
- Market Assessment (access to mls so I can run comps, etc)
Any thoughts on things I might be able to add or subtract? Maybe a better approach?
Any feedback is appreciated!
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