FFB will need the following items to get a formal Letter of Interest of Term Sheet. These quotes will be subject to full underwriting Property:
- Last 3 years Operating Statements (P&L)
- Trailing 12 month, month by month (P&L)
- Trailing 12 month, month by month (P&L)
- Current rent roll
- Summary of capex to date (If applicable)
- Stabilized budget (FFBRIDGE requirement)
- Property Details (to include address, description of the project, unit-mix, age, construction type and photos)
- Offering Memorandums (for acquisitions)
- Sponsor/Guarantor information
- Organizational chart
- Personal financial statement for each guarantor*
- Resume/bio for each guarantor (if available)
- Property management company info (if not self managed)
*Any individual owning more than 20% of the of the property. For guarantors with limited experience a strong property management company will be required.
