[Finance] Pursuing funding for a combined coliving + makerspace property

[Sparr]

On Wed, Oct 7, 2020 at 11:49 AM Rob Davy <rob at funex.ca> wrote:

> One thing I noticed missing (or I couldn't find it), is some kind of
> overview of how much money you need and where it's going.
>

I've written it a few different ways and places and none of them have
really looked appealing (emotionally and graphically, not financially) so
I'm not pushing them very hard. Here's another draft attempt that might
make it onto the front page of the site once I get a graphic designer to
prettify it and put a few more of our backup properties on it:
https://i.imgur.com/tskB3Vt.png


> Somewhat buried it says you want to raise $500k and then expect to be able
> to borrow another $500k, and then get a mortgage. I guess a big question is
> how much is the property going to sell for, or being listed for?
>

Two parcels, one 50 acres with all the buildings, one 150 acres with most
of the big open space. Respectively assessed at $12M and $5M respectively,
listed for $6.5M and $2M ($8M together). Similar properties (in other
markets) have been selling for 1/4 to 1/2 their asking price over the last
6-18 months, so I anticipate offering $3-5M after we get more insight into
the property condition from inspectors and contractors.

Do you have a cashflow example, for once it's up and running?
>

My financial projections are rather amateur and I'm looking to hire someone
to clean them up. If you want to see where they are at, here's a work in
progress spreadsheet:
https://docs.google.com/spreadsheets/d/1bFo4-48pTEbTtz9-ifiqsZJjKTb7bJYt6r5q_sdrQN4/edit?usp=sharing
In short, I expect to have $34-50k/mo available to repay investors and
lenders after the crowd investing revenue share is paid off during year
two, less during year one.
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://lists.hackerspaces.org/pipermail/finance/attachments/20201007/dd156504/attachment.html>