Can you start inventing in MF without a sponsor?

[Aaron Palao]

Whats up BP fam! Ive been doing a lot of research on MF start up, and the first hurdle it looks like I have to get over is finding a sponsor. Is it necessary to have a sponsor as part of your GP? How much experience is typically needed to become my own sponsor? 

Thanks for the Advice!

[Charles Seaman]

@Aaron Palao You'll generally need a net worth that's equivalent to or greater than the loan amount, liquidity that's equivalent to  or greater than 10-20% of the loan amount, and experience on similar sized deals.  Experience is less relevant if you're using bridge financing, but the agencies generally like to see that you've been a sponsor on at least one (1) previous agency loan.  Most lenders also want to see a sponsor that lives or has a place of business within 100 miles of where the property is located.