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| | Senior Housing
Loans - Continued...
Before you charge off into
the sunset to chase down a loan for a senior housing development,
perhaps you should take a moment and find out if your project is ready
for a submission. The number one reason why senior housing
development project loans are rejected is incomplete information.
Once you have been rejected it is terribly difficult to get that
underwriter to pay attention to you and your project.
Take a moment and analyze your capital funding plan proposal and
see if it meets these tests:
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Grammar. We can't stress this
point too much. Your capital
funding plan proposal is that singular document that is your
"goodwill ambassador" to lenders (also sometimes called
the "loan proposal"). There is virtually
no tolerance for errors. Rule of Thumb: get someone not
connected to the transaction to give you a brutal grammar review. |
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Body Parts. Do you have the
right parts? At a minimum, you need to cover the following
issues:
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Market
Study. A summary of the market study needs to be
incorporated into the presentation. Cover Net Buildable
Demand computations and the competitive compendium findings. |
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Project Team. You need to
provide a brief summary of each key team member that includes
web site address, email contact information, telephone and
contact person. Focus on how these team members are
expected to create added value. |
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Due
Diligence. You need to cover the due diligence
issues. Entitlements (incentives), zoning, environmental,
construction, design, operations management, development
coordination and any specialty issues that are unique to the
proposed development program. |
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Order of Funding. You need
to provide an order of funding that demonstrates that all
required funding resources are "on the table".
The order of funding should be followed by an order of
retirement of the various capital funding plan elements. |
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Strategic Partners &
Threats. Present the firms that are part of your strategic
alliance as well as those firms that represent direct
competition to your program goals. |
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Take
a few minutes and talk to a Rainmaker Marketing Corporation consultant to get the complete
story. Want a can't miss deal? Then you have to talk to a
Rainmaker... | |
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Do
You Know The Secret?
When it comes to commercial real
estate development finance, it doesn't matter whether you need to raise
$5 million or $50 million, the out-of-pocket costs, advance fees and
project due diligence costs will always require the same relative
investment dollars the promoters have to fund. Do you know what
that amount is? Do you know the Secret? |
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