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mgraham224
945 Posts |
 Posted - 12/26/2007 : 12:33:03 PM
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I have a full packet for any hard money or commercial lender that can do a development deal in MO.
Principals only showing 1.3 mil of skin. 4.6 = cost of dirt. 5.0 approx buildout. 15 mil = approx future value. Mixed residential with some retail commercial.
Two principals, no development experience. one is a realtor. other has poor credit. No strong financials for any past projects. basically, it's a flipper.
JV can be considered but not desired. Not yet fully entitled but all permits, surveys, etc... done.
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mgraham224
945 Posts |
Posted - 12/26/2007 : 2:10:37 PM
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| bump |
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coopercash
2679 Posts |
Posted - 12/26/2007 : 2:27:23 PM
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Matthew, based on your advised scenario these guys won't even qualify for hard money.
Hard money will appraise "As-Is" and discount by around 20%-40% = a basis on which maybe 60% LTV financing will be available. Our Hedge Fund requires a minimum 4-years proven and successful development experience and "we" won't fund newvies.
Best I can suggest is for your clients to round up some local "deep pockets" and while they are at it they need to tie-in with a developer with a proven rack record. |
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mgraham224
945 Posts |
Posted - 12/26/2007 : 3:51:07 PM
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oh believe me, I know this is not a likely deal.
I do some smaller scale hard money locally. Even here, the best scenario available is 10% equitable contribution on COST, 65% LTV on future value with plans and specs. Interest on entire loan amount, draws to contractor only, etc...
This deal is from a friend of mine who's lender got into it, then bailed. So it was approved at a hard money lender based on the equity in the land and plans. I'm not that familiar with how aggressive some hard money lenders are in the rest of the country, but I know residential development is tough.
Any other ideas?
I was thinking JV as you suggested.
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flexenfinancial
75 Posts |
Posted - 12/26/2007 : 4:35:31 PM
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| mATTHEW, HOW MUCH ARE THE CLIENTS WILLING TO PUT DOWN??? |
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dkendall1979
8705 Posts |
Posted - 12/26/2007 : 4:42:32 PM
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Matt,
Try Arlington Richfield. I haven't ever done anything with them, but according to their spam emails to me every minute, they may be a player on this. |
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GWallace
302 Posts |
Posted - 12/26/2007 : 6:31:04 PM
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Matt,
Arlington Richfield's office is in a Mailboxes Plus. The guy is a FRAUD.
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mgraham224
945 Posts |
Posted - 12/27/2007 : 3:03:26 PM
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they have 1.3 mil into it so far. not sure if they can do any more.
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saloutpost
122 Posts |
Posted - 01/01/2008 : 11:00:21 AM
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Hello Mathew:
Let me see the documents and shall let you know how we need to proceed on this loan. Call me and let's talk
Sal
301-570-0335
benefiial_financialsolutions@msn.com |
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EMScommercial
4688 Posts |
Posted - 01/01/2008 : 6:42:48 PM
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matthew.... drop us a line.... lets see if something can be worked out with your clients.... (they probably will need to have some more money involved in the game)....
Please let us know if we can help you - I'm sure that if there is any financing options for your clients out there, we can find it in our vast internal database of commercial lending sources of which we broker for (currently stands at 235+ entries as of today).
Thanks! |
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djmarvin
190 Posts |
Posted - 02/06/2008 : 3:24:36 PM
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Hey Doc...I THINK I ALREADY EMAILED THIS TO YOU, BUT HERE IT IS AGAIN:
PRODUCTS AND SERVICES – Now Available for January 2008
Enclosed you will find the products and services that we are currently able to provide. A summary of the seven programs are detailed below and as each project is submitted for review, we will determine which one is most applicable to enable a successful closing of the transaction.
BANK PAYMENT GUARANTEE (MTN) FOR PROJECT FUNDING - 10 YEAR TERM – MINIMUM $10 MM
These notes can be secured and pledged to guarantee the repayment of the principal amount of the borrowing. They are issued by the World’s top Banks (UBS, Credit Swiss, Deutsche Bank, Societe Generale) and will give any lender additional security. It takes 7 banking days to receive a Commitment from the issuing bank and closing can occur shortly thereafter. The cost to receive a Bank Payment Guarantee is 1% - 5%, depending on amount required.
PUBLIC COMPANIES – FRANKFURT EXCHANGE – IPO
We are now able to take Companies who have a proper business plan public on the Frankfurt Exchange, in Frankfurt Germany. This is a very good way for new or existing companies to raise capital for their business. The entire process takes approximately 30-45 days to complete. The cost to do the public offering is $200,000 USD and a negotiated amount of stock once the IPO is completed.
ASSET BACKED 144A - REGISTERED BOND OFFERING 10 YR TERM MINIMUM $100MM
A registered Bond Offering is available to qualified Companies. This is done by registering a series of Bonds ($100,000 increments) and offering these Bonds for sale through broker dealers around the world. Once these Notes are listed on Clearstream, they are now ready for sale. The total cost for underwriting the request is $250,000 payable through the process. The payments required are $100,000 at signing of the contract and $100,000 when we receive the CUSIP # and ISIN #, which confirms registration of the offering. An additional $50,000 is due when we get the listing on Clearstream. The time required to prepare the offering is 45 to get it registered and 45 days to get it listed on Clearstream. The balance of our fee will be negotiated at contract signing and payable to us in Bonds when available.
STRUCTURED NOTE PROGRAM – 10 YEAR TERM – MINIMUM $20 MM
A creative program backed by a major financial institution that guarantees the principal and interest for project financing. This program is for clients who requires a minimum of $20MM and takes about 30 days to conclude. The costs associated are $50,000 for a commitment to be issued and 6% percent of the net borrowing payable from the proceeds of the closing.
EQUITY – CORPORATE BONDS AND BANK NOTES – 1 YEAR TERM - MINIMUM $10 MM
This is an excellent way to collateralize the borrowing requirements of your project. You will open an account at any Securities Company of your choice and our investor will deposit a Registered Corporate Bond or Bank Note to your account. The Securities Company will provide a statement confirming this asset is in your account and you can then use this asset to collateralize your transaction. The costs associated are $50,000 to receive a commitment from our investors and 6% - 16% payable at closing.
PROOF OF FUNDS LETTER – ISSUED FROM MAJOR COMMERCIAL BANK - $10 MM
We can provide a Proof of Funds Letter issued by a major commercial bank for a term of three (3) months to one (1) year. The text of this letter and the price list are now available.
quote:
Originally posted by Donald1955
Matt,
Many financial transactions frequently fail due to lack of adequate collateral or solid promises of repayment. This is where my services may be useful to you.
I can secure the appropriate collateral to back up your project. I have the facility to arrange for credit enhancements such as guarantees, letters of credit (standby, domestic and international), performance bonds, 90%-100% financing on small and jumbo deals, venture capital guarantees and other credit back-up programs.
Please feel free to email me for a real estate loan application.
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