All Forum Posts by: Will Butler

Anyone have a good recommendation for a <$10.0MM non-recourse construction lender (70% LTC) for speculative industrial development in Florida?   Completion guarantees and standard carve-outs would be ok.

Working a partner source a construction loan on a couple shovel-ready developments - ground is being contributed as equity so deal will be fully capitalized and ready to go with construction financing.

 True but $5K is tough when first starting out - $500 a month I could do pretty easily.  Once I get my first asset or two and have recurring fee income then it's much easier.  Have one deal almost under contract from the 7 day free trial though haha.

 It's very expensive unfortunately. You have to pay upfront for annual subscription and it's like $5K.  Great contact info tho.

Nice...what are your budgeted all-in and hard costs PSF?

Hello BP -  We're looking to develop an 11 unit ground-up townhome product in Savannah.  The site is zoned for 11 units so call it a $3MM capitalization.  Any recommendations for a lender? 

I suspect the options will fall into two buckets: hard money lenders and local banks.  Thoughts?

@Jonathan Schwartz  Does the borrowing entity / equity generate contractual on-going cash flow?  If so, I know a group that specializes in this...it's essentially an unsecured line of credit.

Hi Jevan - Working with a couple developers to build them a custom cloud based software program to track deals, monitor progress, store deal documents and build custom dashboards to process information.  Sounds like it could be useful for you.  We're doing the customizations for free in exchange for feedback.  DM me if interested. 

Will

Juniper Square is the gold standard for investor reporting, tax filings and capital raising.  Not cheap though. I think it's $10 - 12K minimum annually.

Ronald - The system is for family offices, brokerages, and private equity firms with healthy deal flow that want to input their internal documents into a cloud-based information system and organize / data mine that info for insights.  I don't think you get it.  You're a self-employed attorney that reviews legal documents for mom and pop transactions and don't have a clue for institutional underwriting / leasing / portfolio management side.  No idea why you are commenting.

Great!  We're wrapping up the MVP in the next few days.  Will set you up an account so you can take a look....would love your feedback.  Agreed that OM info isn't the best - we're starting with the broker underwriting metrics (still good to have as a reference point) but then we're going to quickly add Internal Underwriting / Investment Memo and Appraisal sections.