The Michael Blank “Deal Desk”
To get access to the Deal Desk, join the Deal Maker's Mastermind!
Do you want Michael to raise 100% of the equity for your deal?
If you answered “Yes”, then consider partnering with us and submit your deal to The Michael Blank “Deal Desk”.
Introducing the “Deal Desk”
What is the Deal Desk and How does it Work?
The Michael Blank “Deal Desk” is an innovative, first of its kind program that allows members to submit deals for a potential partnership with Michael, in which Michael's equity firm (called “Nighthawk Equity”) raises part or all of the equity needed for the deal, and you remain involved as a general partner.
At a minimum, you'll be sourcing the deal (including analyzing and pre-negotiating the deal), and you'll likely be involved in the due diligence and asset management after closing. You're welcome to help with the deposit and due diligence expenses, but you're not required to do so. You're welcome to raise as much money as you can (but again, are not required to). The more you do and/or bring to the table, the more equity you receive as a general partner.
To submit a deal, you need “Deal Desk Priviliges” (see below for details) which allows you to submit your deal (and your analysis) to the Deal Desk. You then go through one or more PAID coaching calls with one of our coaches who will qualify the deal and also help you to get your offer accepted in such a way that satisfies Nighthawk's requirements. Some members needed just a single paid coaching call, others several – it really depends on the competence of each person. Our goal is to minimize the number of paid coaching calls by being clear what our criteria are and what is required of you. The more prepared you are, the less coaching calls you'll need and the higher the chance that Nighthawk will accept your deal.
The Michael Blank Deal Desk is a GREAT way for you to get into your first deal!
How Do I Get “Deal Desk” Submission Privileges
In order for you to have “Deal Desk” submission priviliges, you must be an active member in our “Deal Maker's Mastermind” program. This is a very affordable monthly subscription that allows you to get feedback from a live coach on your analysis, connect with other like-minded entrepreneurs, and of course, it also gives you access to the Deal Desk.
As part of the Deal Maker's Mastermind, you'll also get the “Syndicated Deal Analyzer” (or SDA for short) – probably the most popular multifamily analysis tool available. You'll need the SDA to analyze deals and make offers, of course, but you insight into what our Deal Desk criteria are with its unique “red light – green light” system.
NOTE: While you only need the SDA 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.
So, the full course is NOT required but the vast majority of members who got their deals accepted by us have completed the Ultimate Guide course.
What is the deal desk process?
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 our “Deal Tagger” system, that prevents multiple members from negotiating the same deal.
- 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 17%.
- 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 online forum to get feedback on the deal.
- You must complete the 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 DMM 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 and we'll help you get your LOI accepted.
- 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). The more prepared you are, and the more you have researched the deal, the less coaching calls you'll need.
Frequently Asked Questions
What’s the Minimum Investment to Submit Deals to You?
What Terms Can I Expect?
Will You Cover the Deposit and/or Due Diligence Expenses?
What Are Your Criteria For Partnering?
- Mortgage Balance > $1M to qualify for non-recourse financing
- IRR for the investors of at least 17% 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 are in the current version of the SDA.
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?
Even if you completed the Ultimate Guide course (or some other training program), there aren’t any guarantees that we’ll keep you on as a partner. 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.
WHAT OTHERS ARE SAYING ABOUT MICHAEL'S DEAL DESK
4 Months To First Deal – 69 Units – Now Owns 500+ Units
It took Patrick just 4 months after joining the program to close his first deal – 69 units – by partnering with Michael Blank's team. He paid himself a nice $19,038 acquisition fee check at closing. Since then, he has quit his job and closed another 500 units.
4 Months to Close First Deal – 57 Units!
It took Tom only 4 months after joining the coaching program to close his first deal – 57 units – by partnering with Michael's team. He's on to much bigger deals now!
I Can Partner with Michael!
— Danette Montigue
5 Months to Close First Deal – 80 Units
It took Philippe to close this 80 Unit deal just 5 months after joining the program by taking advantage of Michael's Deal Desk. He paid himself a nice $33,103 acquisition fee at closing, too. He's now weeks on closing on his 2nd deal – a monster 168 units.