Investor Funding Made Easy! - Real Estate Finance2024-03-29T01:42:56Zhttps://realestatefinance.ning.com/forum/topics/investor-funding-made-easy?commentId=6517464%3AComment%3A339226&feed=yes&xn_auth=noHello,
My name is John Gallow…tag:realestatefinance.ning.com,2019-06-11:6517464:Comment:3430872019-06-11T20:53:57.873ZJohn Gallowayhttps://realestatefinance.ning.com/profile/JohnGalloway610
<p class="p1"><span class="s1">Hello,</span></p>
<p class="p1"><span class="s1">My name is John Galloway.</span></p>
<p class="p1"><span class="s1">I have a bachelors of science degree in Business Administration with a background in the construction, trucking and oilfield industries.</span></p>
<p class="p1"><span class="s1">I’m seeking a hard money loan for the purchase of 3 separate investments under a single loan.</span></p>
<p class="p1"><span class="s1">The loan amount is…</span></p>
<p class="p1"><span class="s1">Hello,</span></p>
<p class="p1"><span class="s1">My name is John Galloway.</span></p>
<p class="p1"><span class="s1">I have a bachelors of science degree in Business Administration with a background in the construction, trucking and oilfield industries.</span></p>
<p class="p1"><span class="s1">I’m seeking a hard money loan for the purchase of 3 separate investments under a single loan.</span></p>
<p class="p1"><span class="s1">The loan amount is $11,350,000.</span></p>
<p class="p1"><span class="s1">The reason for the umbrella loan is to provide exceptional collateral for the purchase of proven cash flow.</span></p>
<p class="p2"></p>
<p class="p1"><span class="s1">The collateral is a ranch in Evergreen Colorado.<span class="Apple-converted-space"> </span> The ranch is 456 acres, already approved for subdividing into 25, 5 acre lots.</span></p>
<p class="p1"><span class="s1">Bare land in the Evergreen area sells for an average price of $139,000/ acre.<span class="Apple-converted-space"> </span> Using this as a basis the subdivided 5 acre lots are worth $695,000 each (5 x $139,000 = $695,000). 25 lots at this price gives the property a value of $17,405,000.<span class="Apple-converted-space"> </span> The $11,405,000 loan is 65% of the ranch value.</span></p>
<p class="p2"></p>
<p class="p1"><span class="s1">The proven cash flow is from a successful trucking company based in Texas.</span></p>
<p class="p1"><span class="s1">The company provides oilfield support services including water hauling for fracing operations.<span class="Apple-converted-space"> </span> The company has been in operation since 2012 with several Master Service Agreements in place.</span></p>
<p class="p1"><span class="s1">The purchase price is $4,500,000 and includes assets of $3,500,000 in equipment and $150,000 in real estate.<span class="Apple-converted-space"> </span> The company has a EBITA of $1,319,000.</span></p>
<p class="p1"><span class="s1">The third investment is a single family residence that is also in Evergreen Colorado.<span class="Apple-converted-space"> </span> The intent is to do an update and remodel so it can be marketed as an Air BnB purchase.<span class="Apple-converted-space"> </span> Air BnB’s in Evergreen are very popular and most are scheduled out until January.<span class="Apple-converted-space"> </span> This property will have revenue at around $90,000 per year.</span></p>
<p class="p1"><span class="s1">To summarize the loan amount, collateral and use of funds.</span></p>
<p class="p1"><span class="s1">Collateral:</span></p>
<p class="p1"><span class="s1">Ranch. <span class="Apple-converted-space"> </span> $17,375,000</span></p>
<p class="p1"><span class="s1">Trucking company equipment<span class="Apple-converted-space"> </span>$3,500,000</span></p>
<p class="p1"><span class="s1">Trucking company real estate<span class="Apple-converted-space"> </span>$150,000</span></p>
<p class="p1"><span class="s1">Air BnB. <span class="Apple-converted-space"> </span> $500,000</span></p>
<p class="p1"><span class="s1">Total collateral<span class="Apple-converted-space"> </span> $21,525,000</span></p>
<p class="p2"></p>
<p class="p1"><span class="s1">Loan amount. <span class="Apple-converted-space"> </span> $11,350,000. <span class="Apple-converted-space"> </span> 53% of collateral value</span></p>
<p class="p2"></p>
<p class="p1"><span class="s1">Use of funds:</span></p>
<p class="p1"><span class="s1">Ranch purchase.<span class="Apple-converted-space"> </span>$5,500,000</span></p>
<p class="p1"><span class="s1">Trucking company.<span class="Apple-converted-space"> </span> $4,500,000</span></p>
<p class="p1"><span class="s1">Air BnB. <span class="Apple-converted-space"> </span>$800,000</span></p>
<p class="p1"><span class="s1">Operating capital <span class="Apple-converted-space"> </span>$550,000</span></p>
<p class="p2"></p>
<p class="p1"><span class="s1">The lender would have first position on all assets</span></p>
<p class="p2"></p>
<p class="p1"><span class="s1">Loan servicing:</span></p>
<p class="p1"><span class="s1">Assume an 8% loan, principal and interest. 30 year amortization with a balloon at lenders discretion.</span></p>
<p class="p1"><span class="s1">$83,382 per month = $1,000,584 per year</span></p>
<p class="p2"></p>
<p class="p1"><span class="s1">Income from trucking company $1,319,000</span></p>
<p class="p1"><span class="s1">Income from Air BnB.<span class="Apple-converted-space"> </span>$90,000</span></p>
<p class="p1"><span class="s1">Total. <span class="Apple-converted-space"> </span>$1,409,000</span></p>
<p class="p2"></p>
<p class="p1"><span class="s1">After loan servicing there will be a positive balance of $408,416 per year after loan service.</span></p>
<p class="p2"></p>
<p class="p1"><span class="s1">The benefits of this loan is that I have an education in business and experience in all The fields required to make this venture profitable.<span class="Apple-converted-space"> </span> The loan will be serviced by cash flow from an existing successful business. And finally the loan has sufficient collateral that any potential loan is fully collateralized.</span></p>
<p class="p2"></p>
<p class="p1"><span class="s1">If you have additional questions please email me at gallocorp80439@gamil.com</span></p>
<p class="p2"></p>
<p class="p1"><span class="s1">Thank you, I look forward to working with you.</span></p>
<p class="p1"><span class="s1">John Galloway</span></p> Hello, I have a client that n…tag:realestatefinance.ning.com,2019-03-23:6517464:Comment:3392262019-03-23T14:41:45.340ZLeroy Joe Jr.https://realestatefinance.ning.com/profile/LeroyJoeJr839
Hello, I have a client that needs $10K for a project, do you give out loan based on credit or project and do you do hard money?
Hello, I have a client that needs $10K for a project, do you give out loan based on credit or project and do you do hard money?