On this episode, Chris breaks down how Fort Capital transacts and acquires properties. He starts with the company's emphasis on how important their process has been to their success, who's involved, and what type of deals they pursue. Then he breaks down each step of the acquisition from the time a deal is brought to their attention to closing. Enjoy!
Follow Chris on Twitter:
www.Twitter.com/FortWorthChris
Learn more about Chris Powers and Fort Capital:
www.FortCapitalLP.com
Follow Chris on LinkedIn:
www.linkedin.com/in/chrispowersjr/
Follow Fort Capital on LinkedIn:
www.linkedin.com/company/fort-capital/
(01:12) - How You Acquire Properties Matters
(03:03) - Who’s involved in the process?
(03:31) - Pursuing Off-Market & Light-Market Deals Instead of Auctions
(04:53) - Acquisition Consultants
Leads.FortCapitallp.com
(06:36) - Running a ‘Quick Check’
(08:00) - Deal Pipeline Folders
(08:45) - Weekly Deal Meetings
(12:13) - Investment Committee Meetings
(12:53) - Drafting an LOI
(13:45) - Project Kick-Off
(15:19) - PSA (Purchase Sale Agreement)
(15:54) - Writing an Investment Memo
Listen to FORT #81 for more details on Investment Memos
Fort Capital Free Resources
(18:33) - Raising Capital
(21:07) - Bank Financing
(22:50) - Getting Entities Developed (Bank Accounts, Titling, Administrative Tasks)
(23:19) - Property Management Due Diligence
Listen to FORT #97 for more detail on Due Diligence
(23:48) - Huddle-Up Before Going Hard on Our Money
(24:38) - Wrap Up
The FORT is produced by Straight Up Podcasts