Refinancing a Property
In 2005, Susan and George K. obtained a construction loan to build their dream home. They purchased a lot, worked closely with an architect, and began construction. But in the midst of building the housing bubble burst. The couple was left with a house that was underwater and a loan they couldn’t refinance.
Constructing a Solution
Mark T. had been in the real estate development business for over 30 years. He had always been able to get the financing he needed through his long-term relationship with a major bank. However, when Mark approached the bank about his latest project for upper end units in a community he saw as having enormous potential, the bank did not agree with his valuation, and despite the relationship was willing to only offer him a loan amount far too small for the project he envisioned.
Fixing and Flipping
Joe S. had always had a keen eye as an entrepreneur and had done well targeting niche markets for fixing and flipping properties during the real estate boom. But when the Great Recession hit, competition increased in his market segment. Margins became slimmer and profits harder to come by because of higher lender fees, high interests rates, and banks less willing to lend money.
Keeping Capital Working
Cody D.’s web design and hosting business took off so quickly that within a few months his company occupied over half of a 35,000 sq. ft. building. However, the buildings’ owner went bankrupt, stopped making payments, and the bank took over management of the building. Renovations were needed, the bank refused, and the other tenants began vacating.
Acquiring Real Estate
When retired architect Rob F. found a four-acre lot on which he could build four homes, he knew he had uncovered a promising investment opportunity and wanted to take advantage of it. He turned to his bank for the capital needed to pursue the project.
Preserving a Family Legacy
Like many baby boomers, Tom M. was faced with overseeing the care of an adored aging parent who’s deteriorating health required dramatic changes in care and housing. The stress was overwhelming as Tom was seemingly faced with choices that would wipe out the legacy his parents had worked so hard to build for him, his wife, and children.
Mining an Opportunity
Javier G. had organized a consortium of investors for what was potentially a highly lucrative mining project. Each of the ten investors was being asked to put up a million dollars to participate. But there were sizable hurdles that needed to be resolved. What Javier and his investors sought was a solution to what otherwise might have proved insurmountable issues that jeopardized their investment.