Showing posts with label private money. Show all posts
Showing posts with label private money. Show all posts

Tuesday, February 23, 2010

All Questions Answered!

There can't be enough said about the old adage "time is money". Nearly all of our funded projects begin with a conference with one of several people within our company. Although we have 23 people within Walker Commercial Funding, your initial conference call will be with one of three. It's very common for me to say, "Mr. Developer, it's important that you do not leave this conference call until you have asked all of your questions and have crystal clarity about what we are offering." An educated, informed client is priceless.

After our introductory call, you will be working with other people within our organization that expect you to be informed. This is just an efficient business model, nothing more, nothing less. Understanding from the beginning is so important, that if we have a conference call scheduled and only 4 out of the 5 can attend, I'll record the call (with everyone's consent) for the benefit of the absent partner.

After your project is received, your point of contact will most likely not be the person that introduced you to the company and the funding solutions. At that point, we ask that you direct all questions, updates, etc. to the "production" member of our team. Again, it's a matter of efficiency. You'll get more accurate information and faster answers.

This is our business model. We like to keep it simple and share it with you before you engage to do business with us. All I can say is two words: it works.
Thanks,
Brian Walker

Wednesday, July 29, 2009

Banks are Getting Higher Paid Higher Interest Rates by the Feds Not to Lend


This will make your stomach turn. American developers and entrepreneurs deserve better than this. This is one of the reasons why Walker Commercial Funding remains active and connected with our private funding sources. This video is both disturbing and real. Wonder why banks are lending? Watch this video!!
WATCH THIS CONGRESSIONAL HEARING- COMPLETE FRAUD AT THE FEDERAL LEVEL

Clearly, privately funding your project is more likely and possibly your only option as a developer. If you are a developer looking for institutional funding source, I hate to break it to you but you are in caught in the proverbial "chinese fire drill."

Sunday, April 26, 2009

Private Money is Active!


Understanding the difference between PRIVATE funding and INSTITUTIONAL funding....

Banking as we once knew it is gone for a very long time. In fact, very few institutional banks funded large commercial projects in 2008. I have substantial visibility into the market and the only institutional activity I saw was banks calling their notes due immediately. Banks were forced to do this because of their own liquidity issues and many developers were left with no funds and the project(s) came to a screeching halt.

"Joe Developer" then knocked on every bank's door only to find the same answer: "sorry, we are not lending right now."

Since the death of institutional banking, the developers have gone to the private equity world to get their projects funded. My company has always worked exclusively in the private equity side of funding and have had to introduce many of these seasoned developers to the private funding world. Fortunately, this world is actually more simple and efficient than the traditional, institutional banking model. There are, however, some differences that anyone seeking private financing for the first time needs to be made aware of.

1. Your private funder usually has his own idiosyncrasies. For example, a funder may only be interested in hospitality projects in Costa Rica, Mexico and Panama. That's just his funding footprint. He knows the area and is comfortable lending there.

2. There are no referrals in the private money world. Period. Your local bank advertises their closings. Private money never discloses their transactions or their clients. Your private funder will have you sign an NCND, which means you cannot even reveal who funded your project. This protects the funder. He does not want to be vetted, interviewed or interrogated. He usually has a "gate keeper" or "master broker" that will qualify you. Once you fit his funding footprint, he will want to meet you face to face. At this point, the funder will give you every comfort level you will need to assure you of his abilities to fund your project.

3. Private money moves fast. If you, as a developer, have all of your business in order, you can fund in as little as a week.

4. Private money has no rules. Every funder has their own terms and will structure a loan in the most "make sense" way for your project. It's best to hear what is offered than tell him what you will accept. As the old addage goes, "the tail will not wag the dog".

Walker Commercial Funding works exclusively with private money sources. Feel free to contact us for more information. 281-852-9422