Innovative Real Estate Podcast Show Notes

Episode 17- Everything You Need To Know About Financing Your Innovative Project

  • What a pro forma is and why it is important.

  • Preparedness and experience lead to success.

  • Everything that goes into your capital stack.

  • Getting pre-approved by your bank.

  • Breck's project highlight of the week: The Hemptons!
     

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"The banks want to know that you have skin in the game."

- Leslie Horn, CEO of Three Squared, Inc.

Show Notes:

  • 0:30 - Introduction into episode 17.

  • 1:20 - Breck's project highlight of the week: The Hemptons! 

  • 4:04 - Leslie's 101 on funding and financing projects. 

  • 4:45 - Everything that goes into funding a residential home. 

    • 5:25 - Why getting pre-approval from your bank is the most important step in financing. ​

  • 6:21 - The three most important questions to answer before you start to build. 

  • 8:52 - Why closing a loan will always take longer than you think 

  • 11:02 - Added costs that you have to be aware of when developing any kind of project. 

  • 12:49 - What is a pro forma and why it is so important. 

  • 14:54 - How your project alters your pro forma. 

  • 16:59 - Why you need to solidify your budget before you being your project.

  • 18:40 - Architects are not going to tell you what to build. 

  • 21:16 - The layers of a capital stack for commercial projects. 

  •  23:00 - It is all about being prepared and having experience.

  •  27:30 - Concluding thoughts for episode 17.

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