Have you ever felt like you were swimming with sharks?
Having grown up in New York City and spent every summer at the beach, I know a thing or two about sharks. When I was a kid (before the movie “Jaws” came out), we used to swim in the Atlantic Ocean every summer. Except sometimes, the lifeguards spotted sharks in the water and they would blow their whistles and everybody made a mad rush to get out of the water.
While, in my memory, there were never any actual shark attacks, there was always the danger of one. I grew up with a healthy respect for sharks that stems from the caution my family drilled into me—don’t get eaten by a shark.
Why are People Afraid of Sharks?
People are afraid of sharks mainly because of ignorance and not knowing the truth about shark activity. However, we cannot deny that the ferocious appearance of sharks with their sharp teeth and huge size scares many people.
Here’s another reason people are afraid of sharks. Sharks live in an environment (the ocean) that most of us are not comfortable with and in which we cannot survive for any length of time. We’re literally in over our heads!
One of my favorite TV shows is “Shark Tank.” These are different kinds of sharks. While they don’t prey on the weak on unsuspecting, they definitely focus on the “kill.” However, in this case, the kill is money. The “sharks” often find weaknesses and faults in an entrepreneur’s concept, product, or business model.
Did you ever wonder why the TV Sharks seem so voracious?
While the typical entrepreneur is busy building his or her Widget, they often forget about the realities of the marketplace. The reason the Sharks are Sharks is because they are experienced, successful business experts. Us ordinary mortals can learn a thing or three from understanding their thinking.
Funding Your Project
Finding the right commercial real estate lender can feel a lot like swimming in the shark tank. Whoever you are, at whatever level you are playing at, your goal is different from your funder’s goal. Your goal may be altruistic, it may be aesthetic, it may be practical. Perhaps you are building a completely self-sufficient high-rise tower in a major city. Perhaps you are buying a building to open your first retail shop. Perhaps you are investing in multi-family units to fund your retirement.
None of these are reasons that a funder will invest in you. A funder will invest in you if they see that you have a program for making them money. To put it simply, if they lend you their “toys” (aka money,) they want to know a) that you will take good care of their toys; b) that you will return them in good shape; and c) that you will give them something extra for the use of their toys/tools/cash during the time that you are using them.
Let the Experts Help You
If you’re totally confused about where to start, let the experts help you. Find a commercial mortgage expert who takes the time to a) understand your project; and b) understand your financial position and funding needs.
Often times, borrowers approach the funding situation with their idea of a solution already thought out. Unfortunately, they are not the experts in commercial real estate lending and finance.
Let the commercial lending experts at Sofia Capital Ventures help you. We can often inform you of programs that you didn’t know existed and help you finance your project in ways you never thought possible. We can also show you how to take the weaknesses of your funding program and turn them into attractive features that lenders can’t resist. Contact us NOW! for FREE loan request evaluation.