The Michael Blank JV Program
Do you want Michael to raise 100% of the equity for your deal?
Do you want to refer or wholesale a deal to Michael?
If you answered “Yes” to any of these questions, then here are the requirements and process for submitting your deal to The Michael Blank Deal Desk.
How to Submit Your Deal to the Deal Desk
In order to have “Deal Desk Privileges”, you need to have at least…
While you only need the Syndicated Deal Analyzer to have Deal Desk Privileges, we highly recommend that you purchase the Ultimate Guide to Buying Apartment Buildings With Private Money online program before submitting a deal to the Deal Desk if you want to stay in the deal as a General Partner. That’s because you’ll need to know everything about buying apartments if you want to be a valuable member of the partnership team. If you ask basic questions about what terms should be in the LOI, what questions to ask your property manager, or what happens in the first week of due diligence (all covered in the course), you’ll slow us down and you will not be invited to stay in the deal as a General Partner. In that case, you are welcome to refer the deal to us.
In order to submit a deal to the Deal Desk, you MUST SATISFY ALL OF THESE CRITERIA:
You must be an active member of the Deal Maker’s Mastermind program (which requires the SDA).
You must have tagged your deal in the “Deal Tagger”.
The deal must match the following minimum criteria in order to be considered for a JV partnership:
Mortgage Balance > $1M to qualify for non-recourse financing
IRR for the investors of at least 15%
The property must be in a city with a population of at least 250,000.
You must submit the completed Syndicated Deal Analyzer (SDA) to the Deal Maker’s Mastermind Channel on Slack to get feedback on the deal.
You must complete the “Deal Readiness Quiz” and answer all of the questions in the “About” tab in the SDA.
We recommended that you ratify a Letter of Intent (LOI) per the template in the Document Library before scheduling a (paid) Deal Desk Review call. However, if you want us to help you make an offer, then feel free to submit the deal to the Deal Desk.
The final step is to submit the deal to the Deal Desk! (Just a reminder that the Deal Desk Review calls are By-The-Hour coaching calls charged at the current rate).
Once the preceding requirements are met, click the button below to go to the Deal Desk.
Frequently Asked Questions
What’s the Minimum Investment to Submit Deals to You?
The minimum you need to submit deals to the Deal Desk is the Syndicated Deal Analyzer (SDA) ($129, learn more) and be a member of the Deal Maker’s Mastermind (DMM) program ($49 per month, learn more). So the short answer is: a one-time payment of $129 for the SDA plus $49 for the DMM. The Deal Desk Review calls are billed at $349 per hour.
What Terms Can I Expect?
This depends on what you bring to the table. The more you can contribute, the higher the share of the General Partnership (GP) you receive. To get a sense of what to expect, see the “Returns” tab in the Syndicated Deal Analyzer and check out the “General Partnership Split Worksheet” towards the bottom.
Will You Cover the Deposit and/or Due Diligence Expenses?
Yes, if you want us to. The more you do and/or provide, the higher the equity in the deal. If you supply the deposit and/or the due diligence expenses, that will result in a higher equity stake. But you don’t have to, in which case we’ll cover that.
What Are Your Criteria For Partnering?
In addition to the requirements above, the deals we look for typically have these characteristics:
- Mortgage Balance > $1M to qualify for non-recourse financing
- IRR for the investors of at least 15% and the average cash on cash return should be at least 10% in the first 5 years
- The property must be in a city with a population of at least 250,000; we don’t have more specific geographic requirements than that.
- You are conservative in your underwriting, for example: reserves “above the line”, at least $1,000 per unit in repairs, one month’s income in reserves at all time, etc.
All of the latest criteria will be available from your Deal Desk dashboard once you’re a Deal Maker’s Mastermind member.
If I Don’t Have the Ultimate Guide Course and Can Find a Deal That Meets Your Criteria, Will You Still Keep Me on as a General Partner?
Maybe. But there aren’t any guarantees that we’ll keep you on as a partner even if you have the Ultimate Guide course. We will evaluate the deal and you when deciding how to engage with you. Regardless of what happens, we will never go around you and we will all agree in writing what the expected the roles, expectations, and compensation will be.
Speaking of expectations, please keep these things in mind.
- Nighthawk is not obligated to accept your deal for ANY reason whatsoever. If your coach and/or Nighthawk does not accept your deal, you’ll normally know why and be advised what you need to do to get it “partner-ready”. However, even if your deal satisfies all our published criteria, Nighthawk may still not accept the deal. This could be because there’s something subjective we don’t like about the deal, we don’t like you, or we have too many deals we’re working on. Therefore, Nighthawk reserves the right to reject your deal for any reason or no reason at all.
- Nighthawk is not obligated to keep you on as a partner. If you prove to be an asset to the team (i.e. you have the time to focus on due diligence, you have the property training through the Ultimate Guide course, etc) and it doesn’t look like you’ll be a liability if you were to come onto the team, then our intent is to invite you to be a General Partner. However, if you don’t have the proper training, are not easy to work with, or just want to refer a deal to us, we’ll work out an alternative form of compensation for you. We will never go around you or cut you out of the deal. Bottom-line is this: Nighthawk is not obligated to bring you on as a General Partner for any reason or no reason at all.