I might add one other CRE god to your Top 2 very valid short list: 3- “Alpha Dog Investor X” is in the deal.
When able to secure a well known, reputable lead investor others fall like dominos. CRE investors are largely pack animals when it comes to their widely varied definitions of due diligence and risk mitigation, and securing a reputable Alpha Dog Investor LP will elicit a pack of Alpha-wannabe investors. The signal here is ‘Alpha Dog X is way smarter than I am on deal selection and if heeee’s in the deal, it MUST be a good deal. We better jump at the chance.’
I might add one other CRE god to your Top 2 very valid short list: 3- “Alpha Dog Investor X” is in the deal.
When able to secure a well known, reputable lead investor others fall like dominos. CRE investors are largely pack animals when it comes to their widely varied definitions of due diligence and risk mitigation, and securing a reputable Alpha Dog Investor LP will elicit a pack of Alpha-wannabe investors. The signal here is ‘Alpha Dog X is way smarter than I am on deal selection and if heeee’s in the deal, it MUST be a good deal. We better jump at the chance.’