As someone who sits as both a GP/LP in a number of real estate investments, below are some questions that I ask in lieu of their common counter parts. We'll have fun and do broke (b) versus woke (w) in homage to the internet meme gods.
Time for a short🧵:
Time for a short🧵:
(B): What's your track record?
(W): Tell me about how often you hit your NOI projections/business plan/operational goals and when you deviate, are there any common themes
^highly applicable to managers that invest across risk/return continuums.
(W): Tell me about how often you hit your NOI projections/business plan/operational goals and when you deviate, are there any common themes
^highly applicable to managers that invest across risk/return continuums.
(B): What are some of your best deals?
(W): What were your worst deals, what occurred, how did you respond, how did you inform investors, and what did you learn?
(B): Where do you see interest rates going?
(W): How are you underwriting/investing with historically low cap rates?
(W): What were your worst deals, what occurred, how did you respond, how did you inform investors, and what did you learn?
(B): Where do you see interest rates going?
(W): How are you underwriting/investing with historically low cap rates?
(B): Do you have any key (wo)man risk?
(W): Can you talk to me about how investments are sourced, made, and processed and how you handle asset management post acquisition?
(B): Do you co-invest and how much?
(W): How are you aligned with your investors?
A couple of bonus q's:
(W): Can you talk to me about how investments are sourced, made, and processed and how you handle asset management post acquisition?
(B): Do you co-invest and how much?
(W): How are you aligned with your investors?
A couple of bonus q's:
1) Are there any other questions I should be asking you?
2) What would your most unhappy investor say about you?
2) What would your most unhappy investor say about you?
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