First-time sponsor's experiences from the field:
"I spent a lot of time on a deal early on. Relationship-building, research, market studies, conferences. And then it didn't materialize. Even if it had, it wasn't scalable. So now I am trying to get in reps, putting in offers, and making my time investment contingent on clearly defined advancements in the deal process, in particular reserving my time commitment for post-LOI. This enables more offers, more conversations, and I think a higher chance of landing a deal in a shorter amount of time."
"Brokers forget me five minutes after I hang up the phone call. They're only relevant in the moment if they have an active deal. It's more about timing than relationship-building. There's a lack of loyalty. Of 6 deals we've bid on, zero were repeat with the same intermediary. Deal flow comes from repeat cadence, touching base every 3 months. Of the 6 deals, 5 were broken deals, we had initially been outbid, but they came back around."
