17. Everything You Need To Know About Financing Your Project
That's why we want to share our expertise in this episode to answer some of the most frequently asked questions that come up about funding both residential and commercial projects. Here's a glimpse of what you'll learn from us in this episode:
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!
For behind the scenes content and project updates follow us @threesquaredinc on Instagram. Have a vision in mind and ready to get started? Contact us here so we can put you in touch with the right member of our team. Find the full show notes to this episode here.
To learn more about where to start when thinking about building an innovative project check out these supplementary podcast episodes! 1) FAQ Session: Your Quick Start Guide To Container Home Foundations, Insulation, & Roofing 2) Best Advice For Beginner Developers: How to Start & How Much It Will Cost
"The banks want to know that you have skin in the game."
-Leslie Horn, CEO of Three Squared Inc.,
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.
Ready to get started? Contact us here so we can put you in touch with the right member of our team to answer all your questions and set you up with actionable next steps.