{"id":1004046099,"date":"2012-09-05T09:47:02","date_gmt":"2012-09-05T17:47:02","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004046099"},"modified":"2022-12-05T18:23:01","modified_gmt":"2022-12-06T02:23:01","slug":"choose-wisely","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/choose-wisely\/","title":{"rendered":"‘Choose Wisely’"},"content":{"rendered":"

\"\"<\/a>By Marcelo Berm\u00fadez, President, Figueroa Capital Group, a subsidiary of Charles Dunn Company\u00a0<\/strong><\/p>\n

As a kid who played video games with friends at arcades where you actually inserted a quarter in the standup consoles, I saw technology change quickly and often. The 1985 release of Atari\u2019s Indiana Jones and the Temple of Doom game included challenges in underground dens and near scorching lava pits you could control through difficult mazes. It was the first game to use digitized speech, including voice clips from Harrison Ford. Four years later, Indy and the Last Crusade came out for home video game consoles like the Amiga and the Sega Master System. Atari even used the Templar knight\u2019s voice clip saying, \u201cChoose wisely.\u201d Your good friends would join in with you to say it in unison which brought a smile to everyone\u2019s face.<\/p>\n

I rarely play video games anymore, but I still maintain many of those childhood friendships and am an early adopter of technology as it becomes available. The history I have with old friends has created a foundation of stability for long-lasting and healthy interactions. Some relationships I\u2019ve had only for a few years, or they don\u2019t last due to conflicting ideals or standards. Today\u2019s technology lets you start a business relationship with a tweet or by adding someone to your social network. In fact, my current partnership that I have at Figueroa Capital Group came together while networking and doing research on LinkedIn.<\/p>\n

Syndicators, (those who sell shares in or offer participation in the financial sharing of a risk venture, loan, or the like)<\/em>, are in a similar situation of relationship-building when they are trying to get a venture off the ground or recapitalizing a scenario. They are out there finding the right fit with potential investors through various matchmaking websites (technology) or personal introductions \u2013 or some combination of both. In order for a relationship like this to grow and thrive, below are some tips to consider when determining whom you\u2019re going to pair up with on your next deal.<\/p>\n

Financials<\/strong> \u2013 Any investor with an attorney worth their salt has created some kind of entity or entities to use in place of their personal assets. Taking time to inspect the financials is paramount. If you don\u2019t understand how that person is going to take recourse, especially if other assets are in the entity, you may be left holding the bag.<\/p>\n

Experience <\/strong>\u2013 Owning apartment buildings is not the same as owning office or industrial, even if your potential partner owns large complexes with hundreds of tenants. Banks want to understand the team\u2019s ability to execute a potential transaction, especially if there is a lot of repositioning involved.<\/p>\n

Control <\/strong>\u2013 Are you taking a back seat or are you doing most of the work? I\u2019ve worked with some people whose strategy is to avoid having anyone control more than 5 percent of the entity and others who make it very clear they want certain management, leasing and brokerage companies in place to make the deal work and share at a 50\/50 partnership level. Taking time to read the operating agreement and figuring out potential pitfalls is best negotiated up front. Once you\u2019ve signed documents, you want to make sure your partnership is sustainable.<\/p>\n

Culture \u2013 <\/strong>Are you working with a local investor or trying to use international EB-5 funds that are flowing in from all over the world?\u00a0 Maybe it\u2019s a foreign investor who has the balance sheet but no access to capital in the United States. Understanding the culture of the investment you are working on and the people you are working with is extremely important. There is a big difference.<\/strong> \u201cWe\u2019re going to make an 8 percent return by buying value-add industrial in a major Metropolitan Statistical Area (MSA)\u201d is a start, but how you intend to do that by leveraging the networks from your investor and how they perceive what are the right and wrong way to do things based on their cultural norms can be worlds apart \u2013 literally. Some cultures are very relationship-oriented versus transaction-oriented, regardless of your great reputation. It will take time.<\/p>\n

Finding the right investment partners takes time, persistence and passion. Like the old school video game told us when we were kids but still rings true today in the business world \u2026 when it comes to cultivating stable, long-term\u00a0relationships: \u201cchoose wisely.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

By Marcelo Berm\u00fadez, President, Figueroa Capital Group, a subsidiary of Charles Dunn Company: Figueroa Capital president shares tips on whom to pair up with on your next big deal.<\/p>\n","protected":false},"author":952,"featured_media":1004046102,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[37301],"tags":[],"class_list":["post-1004046099","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"acf":[],"yoast_head":"\n'Choose Wisely' - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/choose-wisely\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"'Choose Wisely'\" \/>\n<meta property=\"og:description\" content=\"By Marcelo Berm\u00fadez, President, Figueroa Capital Group, a subsidiary of Charles Dunn Company: Figueroa Capital president shares tips on whom to pair up with on your next big deal.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/choose-wisely\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2012-09-05T17:47:02+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-06T02:23:01+00:00\" \/>\n<meta name=\"author\" content=\"Anna Spiewak\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/09\/bermudez_marcelo-cropd.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/choose-wisely\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/choose-wisely\/\",\"name\":\"'Choose Wisely' - 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