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Hey, I'd like to both introduce myself as well as shop a few difficult deals. I've been on the merchant services side for around 13 years with a few years off and on in the funding space as a broker. I've restructured my business to focus primarily on funding solutions and I need to rebuild the relationships needed to find my deals homes.
I currently have 2 deals that need a home. They are both challenging but have potential.
DEAL 1 A: I have a client that currently owns a Home Based Nursing Home pulling in around $12,500.00 per month in revenue. This client has the opportunity to expand with the purchase of an existing Nursing Home with documented income of around $85,000.00 per month. The purchase price for this opportunity is $2,400,000.00 of which $2,000,000.00 is the price of the real estate (facility and land). This client needs the funding for the $2,000,000.00 property portion and of course has BAD Credit, for which this client also has documentation showing the source of her bad credit being the result of a recent identity theft issue.
Deal 1 B: Same Client is also requesting an MCA of $10,000.00 for immediate operating expenses but of course it's D paper. Another "issue" is the bank account situation that has arisen out of the identity theft. She closed her long standing account at the end of April (she has bank statements from that account up to April) and rather than open a new one for the month of May, she has just personally cashed her fee checks. She does have copies of the checks she cashed to prove the income and , as of today, has opened a new bank account.
DEAL 2: This client is a Commercial Concrete Contractor with a current job worth $3,500,000.00 over the next 1 1/2 years. His 1st draw will take place in around 30 days and he needs $100,000.00 to get there. His 2018 revenue was around $500,000.00 with a gap in operation between September 2018 until pretty much now due to a personal investment issue that of course caused him to also have BAD Credit.
Any help or assistance would be greatly appreciated. Thank You
I currently have 2 deals that need a home. They are both challenging but have potential.
DEAL 1 A: I have a client that currently owns a Home Based Nursing Home pulling in around $12,500.00 per month in revenue. This client has the opportunity to expand with the purchase of an existing Nursing Home with documented income of around $85,000.00 per month. The purchase price for this opportunity is $2,400,000.00 of which $2,000,000.00 is the price of the real estate (facility and land). This client needs the funding for the $2,000,000.00 property portion and of course has BAD Credit, for which this client also has documentation showing the source of her bad credit being the result of a recent identity theft issue.
Deal 1 B: Same Client is also requesting an MCA of $10,000.00 for immediate operating expenses but of course it's D paper. Another "issue" is the bank account situation that has arisen out of the identity theft. She closed her long standing account at the end of April (she has bank statements from that account up to April) and rather than open a new one for the month of May, she has just personally cashed her fee checks. She does have copies of the checks she cashed to prove the income and , as of today, has opened a new bank account.
DEAL 2: This client is a Commercial Concrete Contractor with a current job worth $3,500,000.00 over the next 1 1/2 years. His 1st draw will take place in around 30 days and he needs $100,000.00 to get there. His 2018 revenue was around $500,000.00 with a gap in operation between September 2018 until pretty much now due to a personal investment issue that of course caused him to also have BAD Credit.
Any help or assistance would be greatly appreciated. Thank You
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