All Forum Posts by: Magnus Wikström

Hi Garry,

That's a good workaround, makes total sense. I was thinking about it in the weekend, and another way to go would be to use Mezzanine financing, preferrable to equity. I'm assuming you need the debt then for horizontal still, but would the $60m debt facility be used to pay the horizontal debt off? How much is your vertical work?

Hi @Josh Klein,

We could be open for doing projects in Indiana, if the financing conditions and market conditions are favourable. But as you have a good contractor, this gets us a long way. We're currently building SFR ground up in SWFL. We're foreigners. Good liquidity to showcase. If you come across projects or have any other interesting sharings, we'll definitely take a look.

Best,

Magnus

Hi @Garry Miller,

You can't bring another million? I think that will help. Few that do that type of leverage on that size of deal.

Is it refinanced once infrastructure is in place?

@Scott Wolf

We're Swedish so we don't need it. It's a Visa Waiver country like Canada or the UK.

Hi Henry,

Difficult. Of course I want to help a fellow entrepreneur. So the question is if you can keep the mortgage moving to your next place, right? Which seems difficullt.

Isn't the option here just to try to sell the property and move to a rental for some time, to spare your liquidity which is perhaps the most precious thing in a time like this?

What is it mainly you're trying to achieve?

If you're seeking increased liquidity and some breathing room, maybe like factoring or MCA for your business is the easiest thing?

The situation is normally that someone has a profitable business and wants to grow it but lacks the liquidity, but I'm not sure of your business? Is it profitable currently.

Sorry for not being able to offer some more concrete advice or solutions. But genuinely, it seems difficult. I hope things turn

All the best

Let's see if there are any heavier fishes in this pond,

I just had a contact I've worked with on a couple of deals call me up and see if I had any major equity investors interested in a very intriguing deal.

It's a top executive of a well known broadcaster who's buying out the real estate asset that also includes the broadcasting infrastructure worth an additional $35m, apart from the $45m (high valuation) real estate, for $16m. Only possible because the buyer includes the top executive of the broadcaster.

Total: 174.000 sqft

Currently under LOI: 70.000 sqft at $1.6m gross rent / month

Exit strategy: either sale or refinance when more space leased out in 1-2 years, although the investor is free to remain with the equity, and there's also possibility for equity in the newly to be formed broadcaster company.

Seeking: $6m equity for 20% share in real estate asset, also holding the infrastructure assets

Real estate in top condition with no value add to be done.

Is there an interest from here?

They expect the deal to close in approx. 2 weeks.

Note: My background is in institutionalised brokerage of similar debt and equity (private market), primarily real estate development finance placement. I have a few others I'll reach out to next week as well.

Thanks


 

Hi BP community,

We're foreigners (Swedish), building SFR in SWFL in the affordable segment. We're now seeking a short term stabilised bridge loan for 1, potentially 2 properties valued at $310.000 each. We're strong in liquidity and have a few more projects where we could possibly do the same thing in a few months. Please note min. 80% LTV, no ridiculously high origination and No brokers please.

Thanks

 Just an update @Jesse Holsapple we're not looking for most lenders - we're looking for THE lender

Yeah, that's the conventional way but I'm certainly seeking the unconventional.

Thank you

Hi @Lior Golan,

Pity to see you didn't get any reply on your post, but it was probably because of the length of it. We're also foreign nationals focussing on Ground up in the US. It's a bit of a step going into ground up from flips. Myself, I had worked with an experienced mid-sized UK commercial developer and seen how they'd done. But you probably feel if you're ready for that step or not.

I would suggest you start communicating with the builder who'll give you the costs etc. and the best thing is if he has a house model he's built already and can tell you straight up all the costs. We build on septic and well, and the septic is expensive but as long as everything is pointed out from the beginning, that's just one of the items on list.

If you've got interesting projects, we could be open for partnering, if that's an option for you. Hope you succeed in what you're doing!