This is an unfair business.
The majority of multifamily deals that trade hands in a major market are controlled by a handful of brokers.
When I mention unfair business, I’m alluding to the trust and relationship-building that it takes in order for a broker to recommend your group to a seller to ultimately win the deal.
Real estate is a relationship-based business and your reputation is incredibly important. One of our core values is to Never Compromise Integrity. This sets the foundation for taking down a great deal for our investors.
Buying a $20M apartment building is a major commitment to all parties involved (Seller, Buyer, and Broker)—- everyone has skin in the game. As you can imagine, a broker vets out each new group thoroughly when you enter a new market.
A broker works as a fiduciary for his client, the seller, and his #1 goal is surety of close. Meaning will this group be easy to work with, trustworthy, adequately capitalized, and more importantly….Close the Deal.
Every week we are making calls, analyzing deals, touring properties, and talking shop with brokers and other operators to gain a pulse of the market.
We are grateful and appreciate the confidence you have placed in us as sponsors and stewards of your capital. You, our investors-partners, are one of our most important competitive advantages.