Go Big or ...

[garnetbailey]

I hope this isn`t out of line here, but I`m looking for connections or suggestion for connections to people or organizations that can help me pull this real estate project together. Given the "6 people away from anyone in the world" theory, I`m hoping those 6 are within REIN

I`m closely following a Toronto project that is shortly going to be asking for proposals to build a $200M residence facility. Over 200+ residences. It`s an institution that has 90M cash and wants 1) someone to finance the balance, 2) someone to build the facility and 3) someone to operate it after being built. I`m wanting to pull various parties and pieces of this together to do a proposal for it.

Can anyone suggest names or players that I might approach to help create a proposal?

Thanks for any help!
Garnet Bailey

 

[housingrental]

Garnet can you clarify what you`re role would be, your background, define residence facility?

 

[Dan_Eisenhauer]

Your background is going to be very important to those who will be judging your entry. It will also be vital to those you might approach to become JV partners. I am all for taking big bites. But, you also need to be realistic.

What would you bring to the table that would make anyone with the experience and money you need want to join you? If you have no experience assembling of a project that comes close to this magnitude in scope, save your time and money, and move on to other more manageable deals.

 

[Thomas Beyer]

QUOTE (garnetbailey @ Dec 22 2008, 08:09 PM) I hope this isn`t out of line here, but I`m looking for connections or suggestion for connections to people or organizations that can help me pull this real estate project together. Given the "6 people away from anyone in the world" theory, I`m hoping those 6 are within REIN

I`m closely following a Toronto project that is shortly going to be asking for proposals to build a $200M residence facility. Over 200+ residences. It`s an institution that has 90M cash and wants 1) someone to finance the balance, 2) someone to build the facility and 3) someone to operate it after being built. I`m wanting to pull various parties and pieces of this together to do a proposal for it.

Can anyone suggest names or players that I might approach to help create a proposal?

Thanks for any help!
Garnet Bailey
I suggest you personally invest $1,000,000 (better more) plus your time for free. Then take a % of profit. Then attract similar minded individuals. A project this size needs big $s and large experience (say 15+ years in the business in all 3 areas, so you need 3 players with experience). Do you have that background or can motivate people to invest, manage or build ?

What is your value-add ?

 

[RedlineBrett]

Not like it can`t be done, but from my own experience when you are pushing a big project traits like ambition, drive and an aura of determination can only take you so far.

Sophisticated investors or institutional investment firms want a couple of things in addition to this before they back it with big money. things like:

1. Skin in the game (the $1m Thomas is talking about)
2. A track record of success with dollar amounts building up to the one you are shooting for.

They simply don`t take `fliers` on people, so you really need to be able to sell yourself and your plan.

I spent the better part of a year trying to launch my own real estate career by shooting off for the big play right out of the gate. I have had better results and more success attracting capital through successful completion of smaller projects with my own money involved.

$0.02




QUOTE (thomasbeyer2000 @ Dec 23 2008, 04:31 PM) I suggest you personally invest $1,000,000 (better more) plus your time for free. Then take a % of profit. Then attract similar minded individuals. A project this size needs big $s and large experience (say 15+ years in the business in all 3 areas, so you need 3 players with experience). Do you have that background or can motivate people to invest, manage or build ?

What is your value-add ?

 

[garnetbailey]

QUOTE (RedlineBrett @ Dec 23 2008, 05:58 PM) Not like it can`t be done, but from my own experience when you are pushing a big project traits like ambition, drive and an aura of determination can only take you so far.

Sophisticated investors or institutional investment firms want a couple of things in addition to this before they back it with big money. things like:

1. Skin in the game (the $1m Thomas is talking about)
2. A track record of success with dollar amounts building up to the one you are shooting for.

They simply don`t take `fliers` on people, so you really need to be able to sell yourself and your plan.

Thanks for the responses guys. All very good points.

I think I didn`t make my request clear enough though; I`m not specifically looking for funding.

To clear this up a bit, I have a background in engineering, management and public capital markets - including building 130,000 sq ft manufacturing plants, starting and taking public 2 different companies, and a bunch of other stuff - enough to give me a few qualifications. But I am only part of a team we have pulled together for this including investment banking, logistics and project management. And yes, there`s definitely skin in the game.

With that said, I am ultimately interested in building an organization to handle the ongoing operation of the facility once done. As a residence for a major educational institution, this would essentially be a property management organization with a captive market and good potential for expansion beyond that. The other resources are easy (well - easier!), but I`m short a good contractor that has the size and backing to pull off this size of construction project. I guess my previous vagueness was an attempt to leave all the doors open to other ideas, directions or parties.

Any other ideas or inputs?

 

[Thomas Beyer]

QUOTE (garnetbailey @ Dec 24 2008, 01:08 PM) Thanks for the responses guys. All very good points.

...

With that said, I am ultimately interested in building an organization ...

Any other ideas or inputs?
Start small, grow organically, improve, re-invest $s, build a team, build a track record, grow more , improve even more, re-invest even more $s, build a bigger team, build an even better track record, ...

Mother of Success: Repetition !

Think: KAIZEN !!

 

[Dan_Eisenhauer]

Garnet, I have a contact fairly high up in Ellis-Don Construction. I will contact him, if I can find him these days, to see if they would like to talk with you. (It has been 20 years since I last spoke with him, and I do not know where he is these days.)

SUBSEQUENTLY ADDED: I cannot find my guy on the company`s website. However, I have sent an email requesting that they ask him to contact me. (His family is a major shareholder, so someone knows how to reach him.) I will send him your contact information if they are interested in talking with you.