Get fundding ready before you have a deal
Hi,
I have worked on Apt commercial properties to get them under contract with attractive CAP rate, solid ROI with add value strategy, presented to investors and received positive feedback. However, challenge was having these investors to actually pay what they promised to close the deal. I had several potential investors (including equity fund, individual investors) promised to pitch in but did not perform when we needed them, resulting loosing few deals we had under contract.
Question:
1. How do you secure your funds to make sure that you can actually close?
2. Is there anything I can do to obtain a funding prior to having my deal presentable so that I could secure required capital in advance?
thank you for your input.
regards,
Joji