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Lending

madison group lends local banks inside of their market

As we discussed, we are ready to identify lenders for you when the next opportunity presents itself. In the meantime, below are a few things the three of you could start putting together and would be required by any lender or traditional bank in the states. If you begin working on these items, it will save you time later.

  1. 3 years tax returns for each 20% or greater member in the LLC
  2. Articles of Organization once they are filed
  3. EIN (Employee Identification Number) – usually filed for with the IRS after the LLC articles are approved
  4. Brief description of each of the investors with any experience you have with investing in these types of properties or property management in general (this can be as simple as a Word document with a few bullet points for each investor)

Please don’t hesitate to reach out if you have questions regarding any of the above. You should also plan on needing to put about 35% down on any transaction. We could secure a lending solution that would require less, however this is a safe number to be prepared for.

I will send a separate email with a list of some of the questions I will have about any specific properties as you find them. They are mostly items we discussed on the phone but I thought it would be helpful to have them in writing for future reference.

Thank you.

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