Seeking to fund two hotel projects! First position or equity participation with buyout.

I am looking for funding for two mid-level hotel projects that will be national flagged properties. Either a first position with strong above market rates or equity participation with a firm buyout. We are interested in any ideas or suggestions. Time is of the essence so if this might fit please respond quickly. Thanks,

3 members like this

▶ Reply to This

Replies to This Discussion

Permalink Reply by Jim Hollenback on July 21, 2013 at 1:32pm

Max, Please forward your email so I can forward you the package.

Thanks,

Jim

▶ Reply

Permalink Reply by Jim Hollenback on July 21, 2013 at 1:32pm

Thanks Ron,

Please send me your email and I will forward the package.

Jim

▶ Reply

Permalink Reply by Leah Pollack on August 7, 2013 at 5:06pm

Ron, I would love to show you what we can do on this deal, if you can send the package to lpollack@easternuf.com It would be an honor to work on it for you.

Thanks in advance, looking forward!

Leah

▶ Reply

Permalink Reply by J. Vincent Harris on August 22, 2013 at 6:36pm

Mr. Ron Smithson,

Why do you say no up-front fees?!? It's a direct lie. Ron, you need to demand your money back from the shyster at KB. And if you want proper and real advise on this business, please contact me and I will help you.

▶ Reply

Permalink Reply by Ron Coleman on July 22, 2013 at 7:47am

Jim,

If what we offer is a fit and you still are looking for funding please contact me at your convenience. See our program and offer below:

Investment banking group offering 100% funding either debt or equity or combination worldwide- $1M and above! Funding based on strength of project not LTV or LTC. We fund in the Energy, Technology, Mining, Real Estate and Business sectors. 30 year proven track record!

It is our goal to offer you a quick, transparent and professional experience along with the most efficient service to fund your project. We provide 100% of borrower’s capital request in the form of debt, equity or a combination and allow all documented expense paid by the borrower to be stacked on top of the funds requested. We can offer a moratorium on payments until the project is stabilized and cash flowing if the timeline to stabilization is reasonable. (Determined on a case-by-case basis)

To start we need a mutual NDA completed, executed and returned by all parties to the project. Additionally, once we know the sector of the funding request i.e. Energy, Technology, Mining, Real Estate or Business we will provide a questionnaire that must be answered in detail and returned to access risk factors and determine our interest. We are fully transparent and provide all the information for you to make an intelligent decision on doing business with us. If the project has merit with strong principal, a very good plan, capital to support the project until funding we can get you through our in-house underwriting to funding. We offer bank rate or better pricing not hard money. Our rates are based on the following indexes: Libor, Bond rate, 10-year Treasury or Prime depending on the project with terms of 3, 5, 7, 10 , 15 or 20 years. Minimum loan amount is $1M US with no maximums on asset based lending.

Required Documentation: (for submission)

The following documents will be necessary to successfully underwrite and fund your project:

Business Plan or Executive Summary with actual or proforma income statements 3 -5 years
Balance Sheet/Financial Statement/Cash Flow/P & L with YTD less than 90 days old (if applicable)
Copy of Appraisal or other valuation (if available)
Expanded Resumes of all principals
Line Item Detailed Use of Funds for short-term and long-term projections
Financial statement-Corporate/Personal

You will need to show proof of funds invested to date in the project (if applicable), ability to pay for third party expenses including a site visit, a need and necessity study (mini feasibility) along with legal and due diligence. This is not upfront but after you receive an expression of interest in writing from the lender along with lender contact and documentation for your due diligence. My job is to get you through our in-house underwriting and to funding! We believe that relationship is critical if we are to be successful with our business venture and without a good relationship we will not be a good financial partner.

▶ Reply

Permalink Reply by J. Vincent Harris on August 22, 2013 at 6:39pm

It IS UP-FRONT RON! And an LOI or "expression of interest" or anything besides a conditional commitment is WORTHLESS. And sometimes that is too if the lender has not been verified. Have you closed a deal with this group?

Will the lender provide an address for a project they have funded within the last 3 months?

▶ Reply

Permalink Reply by Jeffrey Freis on July 22, 2013 at 9:26am

Jeffrey B. Freis Associates, Inc. is a private investment bank with an active real estate finance division. We have experience with Hotel Financing. Contact me to discuss your Projects.

Jeffrey B. Freis, President

Jeffrey B. Freis Associates, Inc.

Tel: 914 967-9235

Fax:914 798-6670

Email: jfreis@jbfreisassociates.com

www.jbfreisassociates.com

▶ Reply

Permalink Reply by Fred Price on July 22, 2013 at 1:53pm

Wells Fargo Bank is the nation’s #1 Small Business Lender Loan/Lines from $50,000 to $500,000 Highly competitive rates + fees LTV/CLTV up to 75% First or Second Lien Owner-occupied or investor properties Sole Proprietors, Partnerships, Corporations, LLCs Property values up to $3,000,000 No cost approvals - No Application Fee - No Commercial Appraisal Fee - - Competitive financing terms - Relationship discounts – up to ½ off the 1% orig fee less

▶ Reply

Permalink Reply by Chad Davis on July 24, 2013 at 4:12am

Jim,

Please feel free to contact me for further details ( lchaddavis@hotmail.com) Work with lender that is specifically looking for new construction on hotels.

Regards,

Chad Davis

917-200-8244