Multifamily Missteps Hosted by Jerome Myers

They Cut My Loan Proceeds - Brian Briscoe

March 07, 2021 jerome myers Episode 28
Multifamily Missteps Hosted by Jerome Myers
They Cut My Loan Proceeds - Brian Briscoe
Show Notes

Today I had the pleasure of speaking with the CO-Founder and Marketing Manager of Four Oaks Capital, Brain Briscoe.

Let’s dive into Brian’s misstep story and how to come back from a cut in loan proceeds when you’ve overextended yourself.

[00:01 - 05:25] Opening Segment

[05:26 - 11:13] How to Launch 

  • Brian talks about the value of mentorship 
  • Brian shares how he launched himself into his first deal
    • Don’t buy into the people teaching that you can start with zero down

[11:14 - 31:30] They Cut My Loan Proceeds

  • Brian talks about overestimating the proceeds in the loan of his Franny May deal in the Scarborough area
  • Brian walks us through how he was able to negotiate back up and fix the situation
    • Changing the GP/LP split
  • Brian gives us valuable advice about how to avoid this kind of situation 
    • Underwriting without assumptions

[31:31 - 34:57 ] Closing Segment

  • What are your words of wisdom to our listeners?
    • “Sharpen your pencil on everything” and “verify all assumptions”
  • How long did it take you to close this deal?
    • “The seller measured everything in business days to about 6 months.”
  • Final words from me


Tweetable Quotes:

“Sharpen your pencil on everything...When you’re going through your underwriting or projections make sure there are no assumptions in there.” - Brian Briscoe 



You can connect with Brian on LinkedIn, and Facebook, and definitely check out the Four Oaks Capital website. 

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