Multifamily JV/ Construction Financing in Booming Bakken Oil Area

Experienced builder looking for JV / Construction Financing for a multi unit housing project in the booming area of North Dakota. 53 unit building, all 2bed 2bath double detached garages. 3 floors, with elevator.

Rents in this market are $1800-$2000 per month on 2 bedroom units. This will be a build, stabilize and sell proposal. Modular construction of the apartments, site building of the garages, total build time of 6 months. Leasing of units will begin once roof is on the building, as we can then "sign leases for occupancy based on schedule".

Total construciton cost $6,731,000. gross rents per month $95,400, per year $1,144,800. less expenses = NOI Estimated sale price of $10,500,000 to $11,097,000. based on CAP rate of 10% to 9%

This project can be built in 3 phases, 24 unit, 24 unit, connecting 5 units and office unit with elevator.

Please contact me for more details, LindaKlebe@aol.com 701-729-4914

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Permalink Reply by Ron Coleman on July 1, 2013 at 8:57am

Linda,

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.

(The following remark is not intended to offend but stated because of so many request from those who believe that all cost can be paid from closing proceeds):

“If there are no funds available to cover project cost and principals expects the lender to pay the necessary cost to determine if the project is lendable, close and fund the project and get their expenses from the loan proceeds then no one I know of can help you.” I have 27 years experience in this industry and have never seen that happen with lenders in the US, Western Europe or anywhere else.

Ron Coleman

NEPCO, INC - GLOBAL CONSORTIUM - FUNDING FOR PROJECTS AND ASSETS IN THE ENERGY, TECHNOLOGY, MINING, BUSINESS AND REAL ESTATE SECTORS

nepcoinc@att.net 770-572-7765 nepcoinc1 -Skype

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Permalink Reply by 1wz86l11ixcum on July 9, 2013 at 2:03am

Hello,
Am a private lender willing to work with you, Contact me to visit the company website for more info on direct funding, asset protection, credit repair, business solutions and much more. Email# Clar.mrssisi@mail.com