This was a cool opportunity to collaborate with a four-decade old housing non-profit to help bring an innovative credit union to market as our anchor tenant AND to create a first of its kind space in this city that co-located a bunch of different housing related businesses and organizations in a single space.

There are of course, as you mentioned, the super rich who built companies through innovation and the right time of the market Who have been able to make much much more than even the best real estate investors.  

If they're not innovative enough to know how scanning documents works, they're likely not innovative enough to come up with unique RE tax strategies.

Innovative!

I would talk to Shaun Weekes at Innovation Lending Solutions.

Thank you for your insight Mohammed...CFL meaning California Lending Law, based on my research...I guess it's a CA thing...The Department of Financial Protection and Innovation (DFPI) formerly the Department of Business Oversight (DBO) offers two different types of mortgage company licenses, the California Financing Law License (CFL) and the California Residential Mortgage Lender License (CRML).Sep 1, 2022...So I guess my original question is if there was a significant difference in rates between the two...but you provided much clarification...thank you. 

My risk here is holding, and the project finishing in Nov. 

Filed paperwork in Nov '16 and marshal didnt come to physically evict until Sept/Oct '17... nyc and bronx courts are the worst

I'm considering folding b/c my husband has an ATL base starting in Nov so he no longer needs to commute to this location for work; AND it seems that our sweet spot niche is souring with a lot of cheaper competition...We did make one house a traditional rental with solid margins but the tenant quality isn't as good versus our niche and it has been a headache.

We financed the deal with our partner M3 Innovations, Inc., we put up the down payment and made the monthly payments on the construction loan but M3 secured the financing.