Funding your deals, spring membership promotion to save money and more

    Our last meeting was awesome….all about funding…

Chris Coute with Brownstone RG covered funding.  The recap is as follows…

The main types of funding include self/partner funding, hard money, bank financing, and private money.

Hard money – structure is points and interest, rates are 3-6 points, 12-16 percent interest, LTV 60-70 percent, typically debt financing with draws, timing to receive funds 2-4 weeks, quick turn around, based on the merit of the deal, personal credit score or income not a factor.  

Bank financing – structure is points and interest, rates are 1-3 points, 4-6 percent interest, LTV 60-70 percent, typically debt financing with draws, timing to receive funds 60 plus days longest turn around, project must fit strict bank underwriting criteria , personal credit score and income are a factor.

Private money –  structure is points and interest, rates are 1-4 points, 6-12 percent interest, LTV at lender’s discretion, typically debt financing with draws, timing to receive funds 1-2 weeks, usually the fastest turn around, relationship and deal based, personal credit score or income generally not a factor.

Creative financing can also come into play. For example, you can find a partner with down payment funds, invest through self directed ira’s, provide collatoral to lender for better terms, owner financing or subject to the existing mortgage.  

When I get the video replay of the event, I will post it for members to recap in the member area of the website. BTW, we are having a spring membership promotion for new members as well as renewing members.  Join Boston AREIA before  Wed, 4/29 and you will receive $25 discount for individual memberships or $50 discount for joint memberhips. Choose the spring promotion on the payment page after you choose your membership plan.

To save 200$ off  Brownstone’s all day event in June register by April 30th 

To learn about the Brownstone joint venture opportunitiesclick here

To learn how to save money with solar.     http://www.gosolarwithviridian.com/bostonareiaAnd lower electric bills are just the beginning.  

Make a significant and measurable impact on the environment and our nation’s economy every day by choosing affordable, responsible energy from Viridian.  http://www.viridian.com/bostonareia

 

 

 

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