Aspiring CRE Sponsor
I am 23 and have very slim capital and have been looking into being a CRE Sponsor. I have been looking up and trying to teach myself about it through different websites and bouncing some thoughts and ideas off AI.
Currently, I have been practicing using listings on LoopNet, specifically NNN leases, whether it be absolute or ground leases, to give myself some real-world examples. As of posting this, I feel as if I have a pretty good understanding of underwriting, capital stack, investor returns, debt analysis, and investment strategy. My goal as the sponsor would be to keep the property through the lease and sell when the initial lease expires.
With that being said, everything I look up says that I need to have a team around me, which would be attorneys, an insurance broker, a surveyor, an appraiser, and so on and so forth. My problem with this is that, as I said before, I do not have any capital, so how would I pay these people? Everything I have seen says that it would be the investor that would, and not the sponsor.
Another thing would be, how do I find investors to buy in? As of right now, I plan to message people on LinkedIn when I start to actually go through with acquiring a property. As a first-time sponsor, I feel that most people would not find me a credible sponsor. I am not sure if this is even in the realm of possibility, but if anyone has any advice, opinions, or anything they would like to better understand, please feel free to message me.
Thank you,