Activity Stream

Joe, pm me his number I may know it is.

bro....direct lenders for this type of deal most likely won't be on this site and emailing you. You have not indicated if the land purchase (horizontal) - which is usually 50% LTV does have the 50% thereabouts? The vertical (the construction of the SFR) can be 70% - 90% LTC ( loan to cost) Here's a typical intake form for construction, just for your information: Real Estate Development Funding Request Outline We understand that there are specifics needed for this type of funding request. The object of this exercise is to get a clear “snapshot” of the project. Name of Project: Project Type (multi-family, MPC, commercial, etc.): Location: Funding Type: (equity, debt, bridge loan, etc.) Please respond to the following questions as completely as possible and provide the requested backup documentation. Thank you! 1. Provide a short narrative/description of the project. 2. What is total project cost, capital stack? Please provide a complete proforma. 3. What is the total equity input (cash, land, entitlement costs, etc.) from the sponsor? (Please note that lenders will not accept developer fees left in project as equity) 4. Are there any other funding sources (PACE, TIF, tax credits, etc.)? Are they approved/secured? Please provide documents/evidence. 5. If prepaid interest is factored, for how long? (Note: Some lenders will not use prepaid interest in the total construction costs for loan to value or loan to cost purposes.) 6. Will the construction be phased/staged? If so, how many segments? 7. Is the project entitled, site shovel ready? If not, what is the time frame for entitlements, permits, etc.? 8. Is there a current appraisal for the project? What is the appraisal amount and the estimated equity? Please provide the appraisal. 9. What will be the finished or completed value of the project? 10. What is the sponsor’s experience? Please provide sponsor’s resume and list of developed projects. 11. What is sponsor net worth/income, etc? Please provide sponsor’s financials, REOs and credit score. 12. Any additional notes for clarification? List of required preliminary documents: 1. Project proforma; 2. Offering Memorandum; 3. Documents re additional approved funding sources (PACE, TIF, tax credits, etc.); 4. Property appraisal; 5. Sponsor’s resume; 6. Sponsor’s List of developed projects; and 7. Sponsor’s financials, REOs and credit score.

Pooja is perhaps best free agent on the market? !

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It was never about the brokers. It looks like Balboa is just shutting down their entire department. Pooja, who has been in the industry forever with QuickBridge, LoanMe, then Kapitus and then Select, was officially downsized from Balboa :( https://www.linkedin.com/posts/pooja-nene_it-is-with-a-heavy-heart-that-i-announce-activity-7194720376319356931-1Bb4?utm_source=share&utm_medium=member_desktop