17. Everything You Need To Know About Financing Your Project
Apr 20, 2022
Episode Highlights:
What's a pro forma is and why is it 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
"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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