Trying to put my first commercial deal together and learning as much as I can along the way so thank you in advance to anyone reading this and giving their opinion!
What’s more important. To lock down the financing first then go look for a good deal. Or find the deal then find the proper financing?
@George Hatjopoulos I would say finding the money first. Especially if it's your 1st deal. You want to make sure that you have all the equity lined up before you lock down a deal. This is a mistake we made when looking to syndicate our first deal. Although we had some commitments lined up, it was enough to secure the deal and we had to back out. Get the capital first and foremost. It alleviates a lot of the stress
Hi TJ! Thank you for taking the time to answer and clarify this question for me... I will take your advice and start working on the financing right away! Wishing you continued success!!
Although, where it gets confusing for me is when I read about people finding a really good deal, and the bank funds it primarily for the deal and the financing is almost secondary at that point. What are your thoughts on that?