[RichardGerard]

Dan,

Are you brokering the Real Estate transactions or is Chris bundling things together in the consolidation model?

Thank you for the clarity on the Net Income requirement. Is that pre or post shareholders income?

[dpFund]

Dan,

Are you brokering the Real Estate transactions or is Chris bundling things together in the consolidation model?

Thank you for the clarity on the Net Income requirement. Is that pre or post shareholders income?

Thanks for the response Richard. If I do real estate deals, it is something I do through a close colleague, and outside FSP. I have several in process right now, both commercial and residential. Just cannot be owner-occupied residential or raw land, but everything else is fair game. Have one where we are refinancing 80 properties, pulling out several million, so we can do the complicated ones.

The $13k monthly net per $100k of funding is net income, after all expenses, including owner draws (we are looking at true net income). We just need to be sure the appropriate level of income is there to meeting their monthly debt obligations.