Investors reviewing deals, “we have done a lot of deals” should not impress you.
That is not a track record.
That is a vague statement.
What you want is specificity.
How many deals have they done that actually look like this one?
Same asset class.
Same business plan.
Same type of market.
Then go deeper.
How did those deals perform compared to what they projected?
Did they actually deliver on what they said?
Or did reality look very different?
And most importantly, what happened when things got hard?
When rates moved.
When lease up slowed.
When expenses showed up that no one planned for.
That is where you see the truth.
Anyone can look good when everything goes right.
A real operator proves themselves when things do not.
If you cannot verify the track record, you are not evaluating the deal.
You are trusting a story.
What specific proof do you look for before trusting an operator?