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USER Real Estate Development Financials: An Adventure
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The Challenges

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Be Introduced

If you haven’t read/ watched the asynchronous-stage-setting-gold over at
Your Dashboard
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we highly recommend you go there first.

Meet YOU (Yourself) and Profo (your friendly proforma bot)


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YOU person.png
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Lil-profo.png
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Table 1
0
Color
Image
Column 3
1
Green
YOU person.png
​
2
Teal
Asset 5.png
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3
Orange
Asset 6.png
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4
Red
Asset 7.png
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5
Blue
Asset 10.png
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6
Grey
Asset 11.png
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7
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​
8
​
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Story Inputs
0
Part of speech
Answer
Example
People
Project
Duplicate
1
Your Name
Evry
Sam
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Default
Duplicate
2
Superlative
Awesomest
Great
​
Default
Duplicate
3
public place
library
library
​
Default
Duplicate
4
Positive adjective
fun
beautiful
​
Default
Duplicate
5
Posative adjective 2
thrilled
Excited
​
Default
Duplicate
6
Descriptive Adjective
Green
smooth
​
​
Duplicate
7
Name of a pet
Fooffy
Fooffy
​
Default
Duplicate
8
Address (# and street name)
42 Easy Street
42 Easy Street
​
Default
Duplicate
9
Cartoon character
Micky Mouse
Micky Mouse
​
​
Duplicate
10
Super hero
Batman
Batman
​
Todays OK
Duplicate
11
Personal Hero
Malcom x
Malcom x
​
Todays OK
Duplicate
12
Something that is everywhere
Air
Air
​
Todays OK
Duplicate
13
Silly Bad guy name
poopy dumb face
​
​
Todays OK
Duplicate
14
name of the Big Blue Monster
breĉo
​
​
Todays OK
Duplicate
15
Impressive sounding Noun
Justice
​
​
Todays OK
Duplicate
16
a synonym for “enter”
Arrive
​
​
Todays OK
Duplicate
17
The name of a group of animals
Gaggle
​
​
Todays OK
Duplicate
18
a bridge name
Golden Gate
​
​
Todays OK
Duplicate
19
Word with two Zs
grizzly
​
​
Todays OK
Duplicate
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Hey
Evry
⁠
,
Given that you are the
Awesomest
⁠
Developer Director ever and your projects are always the most
fun
⁠
I am writing to request that lead
Air
⁠
Development’s newest project. We purchased
42 Easy Street
⁠
, right next to the
library
⁠
and have already held some early stage community meetings. The community is
thrilled
⁠
that we will be developing the property and not
poopy dumb face
⁠
Development . The community agreed that we should develop affordable rental project that has a mix of unit sizes and is
Green
⁠
.
We purchased the property for $2,000,000 .
Malcom x Architects
⁠
pulled together some zoning information that is attached below. I have also collected a few of the critical Q
Batman
⁠
Builders told us that at this early stage we can assume $250/SF of Construction Cost and $50/SF of parking area.
We would like for you to utilize the 9% Tax Credit and work with
Arriveprise Gaggle Partners
⁠
as our syndicators to help us find a Limited Equity Partner.
Air
⁠
Development Has a great relationship with
Justice
⁠
Bank and they have said they would offer us a construction loan at 5% interest 1% fee for a Debt Service Coverage Ratio of 1.2 or higher. They would roll the Construction Loan into permanent financing 3.5% interest 2% fee for a Debt Service Coverage Ratio of 1.15 or higher.
Then you might need to fight the Big Blue
breĉo
⁠
(ie. Fill the Gap) if the Tax credit value and the Debt from
Justice
⁠
Bank aren’t enough to cover all of our project development costs.
If we do a good job making the project
Green
⁠
we could probably get a grant for $10,000 per unit from the City.
If Big Blue
breĉo
⁠
persists then I can introduce you to
Golden Gate Financial Partners
⁠
. In the past they have been willing to offer to fill the Construction Financing gap at 8% interest as long as construction is no longer than 24 months, we have permanent financing to replace their investment and we would have a Positive Net Income after their interest (just in case).
In the event that

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Questions

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Questions 1
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Question
Discussion / Answer
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