1 hr 14 min

From Goldman Sachs Executive to Developing a $20,000,000 Commercial Project ft. Sal Buscemi Founders Club - For Real Estate Entrepreneurs

    • Entrepreneurship

How do you build relationships with high-net-worth individuals who have the resources to invest in your real estate deals? By treating them like friends, not ATMs.
Sal Buscemi is Managing Director at Dandrew Partners, a market leader in short-term loans and equity financing. He mentors aspiring fund managers through The Commercial Investor, a division of Dandrew that teaches wealth creation through real estate the Wall Street way. Sal started his career as an investment banker with Goldman Sachs before transitioning to real estate, and to date, he has raised a total of $500M in capital for other people’s projects as well as his own. He is also a sought-after speaker in the realm of real estate finance and has written countless articles on residential and commercial investing.
Today, Sal joins Oliver to discuss the details of his current project, a 166K square-foot class A industrial development in Las Vegas. He shares his three rules for choosing an operator and offers advice on vetting real estate deals ‘like a jilted ex-lover going through the cell phone records.’ Sal also provides guidance on presenting deals to potential investors, staying top-of-mind without becoming annoying, and conducting a capital call for a new deal. Listen in for insight into how Sal raised money for his current commercial investment and learn how to build and nurture positive relationships with a network of investors!
Key Takeaways [0:45] An overview of Sal’s current project
166K ft2 industrial development Class A (credit-worthy tenants) [3:54] Sal’s background and experience
5 years at Goldman Sachs ‘Hired gun’ for family office Two distressed credit funds [9:42] Sal’s 3 rules for choosing operators
Audited track record Been through 2 market cycles 10% hard equity in game [21:01] Sal’s advice on vetting deals
Compare to market (cap rate) Rental income drives value [24:38] Why Sal prefers industrial to multifamily
Fewer inefficiencies Steady, credible tenants [31:18] How to present a deal if you can’t put your own money in
Equity in building business and relationships Demo conviction in other ways (e.g.: no management fee) [35:20] Sal’s guidance around raising money
Talk to people trust, build following Handle concerns re: liquidity [40:16] How to build positive relationships with HNWI
Get involved with charities, boards Treat network like friends Avoid conspicuous spending [46:33] How to present deals to potential investors
Reach out with newsletter on market Host cocktail mixers at office [48:43] How to stay top-of-mind without becoming annoying
Send article or text once per quarter Dedicated time to reach out via email [59:36] How to conduct a capital call
Offer fast-action bonuses Be specific with deadlines to create urgency [1:06:07] How to deal with overbearing investors
Recommend different asset Put in place (professional, passive investment) [1:09:23] Sal’s process for offering a new deal
Send out tear sheet Wiring instructions on page 1 of email Connect with Sal The Dandrew Letter
Connect with Oliver Big Block Realty
Oliver on Facebook
Oliver on LinkedIn
Resources Monkey Business: Swinging Through the Wall Street Jungle by John Rolfe and Peter Troob
The 100 Million Dollar IRA: The Closely Guarded Secrets to Building a 9-Figure IRA by Salvatore M. Buscemi
Real Closers
Tony Robbins
Upwork
Joe Polish
Slybroadcast
Google Voice
DocuSign

How do you build relationships with high-net-worth individuals who have the resources to invest in your real estate deals? By treating them like friends, not ATMs.
Sal Buscemi is Managing Director at Dandrew Partners, a market leader in short-term loans and equity financing. He mentors aspiring fund managers through The Commercial Investor, a division of Dandrew that teaches wealth creation through real estate the Wall Street way. Sal started his career as an investment banker with Goldman Sachs before transitioning to real estate, and to date, he has raised a total of $500M in capital for other people’s projects as well as his own. He is also a sought-after speaker in the realm of real estate finance and has written countless articles on residential and commercial investing.
Today, Sal joins Oliver to discuss the details of his current project, a 166K square-foot class A industrial development in Las Vegas. He shares his three rules for choosing an operator and offers advice on vetting real estate deals ‘like a jilted ex-lover going through the cell phone records.’ Sal also provides guidance on presenting deals to potential investors, staying top-of-mind without becoming annoying, and conducting a capital call for a new deal. Listen in for insight into how Sal raised money for his current commercial investment and learn how to build and nurture positive relationships with a network of investors!
Key Takeaways [0:45] An overview of Sal’s current project
166K ft2 industrial development Class A (credit-worthy tenants) [3:54] Sal’s background and experience
5 years at Goldman Sachs ‘Hired gun’ for family office Two distressed credit funds [9:42] Sal’s 3 rules for choosing operators
Audited track record Been through 2 market cycles 10% hard equity in game [21:01] Sal’s advice on vetting deals
Compare to market (cap rate) Rental income drives value [24:38] Why Sal prefers industrial to multifamily
Fewer inefficiencies Steady, credible tenants [31:18] How to present a deal if you can’t put your own money in
Equity in building business and relationships Demo conviction in other ways (e.g.: no management fee) [35:20] Sal’s guidance around raising money
Talk to people trust, build following Handle concerns re: liquidity [40:16] How to build positive relationships with HNWI
Get involved with charities, boards Treat network like friends Avoid conspicuous spending [46:33] How to present deals to potential investors
Reach out with newsletter on market Host cocktail mixers at office [48:43] How to stay top-of-mind without becoming annoying
Send article or text once per quarter Dedicated time to reach out via email [59:36] How to conduct a capital call
Offer fast-action bonuses Be specific with deadlines to create urgency [1:06:07] How to deal with overbearing investors
Recommend different asset Put in place (professional, passive investment) [1:09:23] Sal’s process for offering a new deal
Send out tear sheet Wiring instructions on page 1 of email Connect with Sal The Dandrew Letter
Connect with Oliver Big Block Realty
Oliver on Facebook
Oliver on LinkedIn
Resources Monkey Business: Swinging Through the Wall Street Jungle by John Rolfe and Peter Troob
The 100 Million Dollar IRA: The Closely Guarded Secrets to Building a 9-Figure IRA by Salvatore M. Buscemi
Real Closers
Tony Robbins
Upwork
Joe Polish
Slybroadcast
Google Voice
DocuSign

1 hr 14 min