Resources

We provide a wide range of information to help you with the process.

Forms

Different types of loans:

Investing using hard money:

Advice from our specialists:

Checklists

  1. EXECUTIVE SUMMARY OF THE DEVELOPMENT
  2. CONSTRUCTION BUDGET including hard and soft costs.
  3. BACKGROUND / BIO ON EACH PARTNER emphasizing development / construction / renovation / real estate experience and past projects that have been completed successfully.
  4. BACKGROUND / BIO / RECENT SIMILAR PROJECTS COMPLETED for each architect, contractor and construction manager (if applicable).
  5. A PERSONAL FINANCIAL STATEMENT FOR EACH PARTNER with an interest of 10% or more.
  6. LAST TWO YEARS’ 1040 TAX RETURNS for each partner with an interest of 10% or more in the project.
  7. PROPOSED SALE PRICES AND MARKETING PLANS for completed units (only if condominiums).
  8. COMPARABLE SALES INFORMATION for both the residential apartments, and any commercial space (only if condominiums).
  9. RENTAL ANALYSIS OF THE PROPERTY (based on the estimated rental value of the completed units, including any commercial space).
  10. COPY OF FULLY EXECUTED PURCHASE CONTRACT
  11. COPY OF APPROVED BUILDING PLANS
  12. COPY OF ZONING ANALYSIS
  13. COPY OF DEED
  14. EVIDENCE THAT THE PARTNERS CONTROL ANY DEVELOPMENT RIGHTS NECESSARY TO EXECUTE THE PLANS
  15. TIMELINE showing key points from beginning to completion of project.
  16. COPY OF THE CONTRACT between the developer and the general contractor.
  17. LLC AGREEMENT OR ARTICLES OF INCORPORATING OF ENTITY, IF ANY
  1. INCOME/EXPENSE STATEMENT for the last 3 years with monthly and annual figures.
  2. SUMMARY OF ALL COMMERCIAL OR DEPARTMENTAL LEASES (if any) showing escalations and expirations, and the summary of the terms of any franchise agreements.
  3. COMPLETE, DETAILED PHYSICAL DESCRIPTION INCLUDING SQUARE FOOTAGE.
  4. IF ACQUISITION, PROVIDE COPY OF FULL EXECUTED CONTRACT OF SALE.
  5. IF REFINANCE, PROVIDE THE ORIGINALLY PAID PRICE FOR THE PROPERTY, date originally purchased and summary of current financing.
  6. PHOTOS (at least 5)
  7. PROPERTY SURVEY OR SITE PLAN
  8. SUMMARY OF CURRENT FINANCING (for refinance only) including:
    • Current Lender
    • Current principal balance
    • Current interest rate
    • Current monthly payment
    • Maturity date
    • Prepayment penalty information
  9. CURRENT PERSONAL FINANCIAL STATEMENT
  10. LAST THREE YEARS’ BUSINESS TAX RETURNS
  11. BACKGROUND / BIO FOR EACH PARTNER AND FOR THE OWNERSHIP ENTITY EMPHASIZING HOTEL / HOSPITALITY INDUSTRY / REAL ESTATE EXPERIENCE
  12. BACKGROUND INFO ON MANAGEMENT COMPANY, only if separate from ownership.
  13. RENOVATION HISTORY FOR ATLEAST 3 YEARS with project descriptions and the approximate amount paid for each.
  14. CURRENT BUSINESS FINANCIAL STATEMENT
  15. LAST TWO YEARS PERSONAL TAX RETURNS
  1. CURRENT RENT ROLL including:
    • Regulated units ( controlled, stabilized)
    • Apartment number
    • Room / Bathroom count
  2. COMPLETE INCOME / EXPENSE STATEMENT on the property including:
    • Annual property taxes
    • Insurance
    • Water / Sewer
    • Fuel, Electricity
    • Maintenance / Repairs & Management
  3. SUMMARY OF ALL COMMERCIAL LEASES (if any) that show expirations and escalations
  4. COMPLETE, DETAILED PHYSICAL DESCRIPTION INCLUDING SQUARE FOOTAGE.
  5. IF ACQUISITION, PLEASE PROVIDE A COPY OF FULLY EXECUTED CONTRACT OF SALE.
  6. IF REFINANCE, PROVIDE THE ORIGINALLY PAID PRICE FOR PROPERTY, date of purchase and summary of current financing.
  7. PHOTOS (at least 5)
  8. SITE PLAN OR PROPERTY SURVEY, if available.
  9. SUMARRY OF CURRENT FINANCING (refinance only) including:
    • Current Lender
    • Current principal balance
    • Current interest rate
    • Current monthly payment
    • Maturity date
    • Prepayment penalty information
  10. CURRENT BUSINESS FINANCIAL STATEMENT
  11. CURRENT PERSONAL FINANCIAL STATEMENT
  12. LAST 2 YEAR PERSONAL AND BUSINESS TAX RETURNS
  1. CURRENT BALANCE SHEET
  2. LAST 3 YEARS PROFIT AND LOSS (P&L) STATEMENT AND YEAR TO DATE P&L
  3. COMPLETE INCOME / EXPENSE STATEMENT on the property including:
    • Annual property taxes
    • Insurance
    • Water / Sewer
    • Fuel
    • Electricity
    • Maintenance / Repairs
    • Management
  4. SUMMARY OF ALL LEASES (if any) showing escalations and expirations
  5. COMPLETE, DETAILED PHYSICAL DESCRIPTION INCLUDING SQUARE FOOTAGE
  6. IF REFINANCE, ORIGINAL PRICE PAID FOR PROPERTY, date of purchase and summary or current financing.
  7. IF ACQUISITION, COPY OF FULLY EXECUTED CONTRACT OF SALE
  8. PHOTOS (at least 5)
  9. SITE PLAN or property survey.
  10. SUMMARY OF CURRENT FINANCING (refinance only) including:
    • Current Lender
    • Current principle balance
    • Current interest rate
    • Current monthly payment
    • Maturity date
    • Prepayment penalty information
  11. FULL DESCRIPTION AND/OR HISTORY OF BUSINESS
  12. RESUME OF PRINCIPAL / BIO
  13. LAST 2 YEARS OF PERSONAL AND BUSINESS TAX RETURNS
  14. COPY OF DEED

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