Friday, December 12, 2008
WISDOM 창업취지
고객의 재산 (Wealth) 이 부동산투자를 통하여 현명하고 (Intelligently) 안전 (Secured by Real Estate) 할수있게 조언 (Directed)하며 운영 (Operation) 과 관리 (Management) 등 부동산 투자에 대한 전반적인 컨설팅과 서비스를 제공하는 창업 취지 약자.
Tuesday, December 9, 2008
부동산 도매업으로 수익을 남기는 방법 - Business Model
WISDOM 은 좋은 부동산을 도매 가격에 구입해서 개인 투자가들에게 TIC 와 LLC 형태로 소매 가격에 지분을 판매한다.
Assumptions:
1. Initial Capitalization (창업자본금): $ 5 Million
2. Acquire property A1 at actual CAP 7.5 or better and sell 90% of ownership via TIC &/or LLC at CAP between 6 to 6.5.
3. Acquiring property’s actual CAP should be 1% or better than the interest rate on the Loan.
4. Offer investors (TICs & LLCs) 5 to 7 % cash-on-cash return (pro-forma).
5. Retain 10% ownership in each property for control purpose.
6. Acquisition and disposition of each property may take up to 12 months.
Property A1:
(이 건물은 12-2008 현재 Anaheim, CA 에 실제로 아래와 같이 살수 있는 물건이며 6-2009 정도면 CAP 8 에 살수도 있을것으로 가정됨)
$ 8 Million property with 7.5 CAP
NOI $ $ 600,000 (8 mil @ 7.5%)
Equity investment $ 4 Million (50%)
Financing $ 4 Million (50%), 6.5% interest, fixed 7 years.
Debt service $260,000 (6.5% interest of $4,000,000)
Cash flow $ 340,000 (600,000 – 260,000 = 340,000)
Cash-on-Cash return 8.5% (340,000 / 4,000,000 equity)
Sell 90% equity of A1 at 6.5 CAP via TIC & LLC
Selling price $ 9,230,000 (NOI $ 600,000/ 6.5%)
Equity $ 5,230,000 (9,230,000 – 4,000,000)
Capital gain : $ 1,230,000 (5,230,000 – 4,000,000)
Profit margin: 31% (1,230,000 / 4,000,000)
Retain 10% of $5,230,000 as company investment in the property
A1Equity regenerated via TIC & LLC: $ 4,707,000 (5,230,000 @90%)
Fund available to acquire A2: $ 5,707,000 (4,707,000 + $1,000,000 unused fund)
It may take 3 – 12 months to sell 90% of interest to TICs & LLC members.
Cash flow generated during this time should be sufficient for operation.
투자가 (TIC & LLC) 수익 예상:
TIC invest 90% of $ 5,230,000 = 4,707,000
2nd year cash flow $ 340,000 (NOI $600,000– Debt service 260,000)
TIC cash yield 6.51% (340,000 @ 90% = 306,000/ 4,707,000 = 6.51%)
Cash flow to WISDOM on 10% holding of A1 (340,000 @ 10% = 34,000)
결과:
1. Now WISDOM has $5.707,000 in cash and 10% ownership in A1 (약 500,000 가치)
2. Total value estimated to be $ 6,207,000 (5,707,000 + 500,000)
Property A2:
$12,500,000 Property with CAP 7.5
Invest $5,000,000 (40%)
Finance $ 7,500,000 (60%), 6.5% interest only, fixed for 7 years
7.5 CAP, NOI $ 937,500Interest $487,500 (7500,000 @6.5%)
Cash flow: $450,000 (937,500 – 487,500)
Sell via TIC & LLC at 6.5% CAP
Price becomes $ 14,400,000 (937,500 / 6.5% = 14,400,000)
Equity $ 6,900,000 (14,400,000 – 7500,000 = 6,900,000)
Capital Gain $ 1,900,000 (6900,000 – 5000,000)
Capital Gain: 38% (1,900,000 / 5,000,000)
Sell 90% of equity $6,900,000
Equity generated by A2: $ 6,210,000 (6900,000 @ 90%)
결과:
1. Now WISDOM has $ 6,910,000 (6210,000 = 700,000) in cash and 10 % ownership in both A1 & A2.
2. Total value estimated to be $ 8,100,000 (6,910,000 + 500,000 A1 + 690,000 A2)
Property A3:
가격 : $ 15,000,000, 7.5% CAP, NOI $1,125,000
투자액: $ 6,000,000 (40%)
은행 Loan : $ 9,000,000 (60%), 6.5% interest, fixed for 7 years
7.5% CAP, NOI $1,125,000은행이자: $585,000 (9,000,000 @ 6.5%)
Cash flow : $540,000 (1,125,000 – 585,000 = 540,000
Cash flow: 9% (540,000 / 6,000,000 = 9%)
Sell 90% of A3 via TIC at 6.5% CAP.
Price becomes $ 17,300,000 (1125,000 / .065)
Equity $ 8,300,000 (17,300,000 – 9,000,000 = $8,300,000)
Capital Gain: $ 2,300,000 (8,300,000 – 6,000,000 = 2,300,000)
Capital Gain: 38% (2,300,000 / 6,000,000 = 38%)
Sell 90% of A3 generates: $7,470,000 (8,300,000 @ 90%)
결과:
1. Now WISDOM has cash of $ 10,380,000 (7,470,000 + 910,000) & 10 % of A1, A2 & A3
2. Total value estimated to be $12,400,000 (10,380,000 + 500,000 + 690,000 + 830,000)
3. Estimated number of TIC investors = 46 명 (7470,000 + 6210,000 + 4707,000 = 18,387,000 total equity sold at 50% to TICs @ $200,000 per unit, $9,194,000 / $200,000 = 46)
4. Estimated number of LLC investors 184 명 ($9,194,000 / $50,000 = 184)
5. Total number of property in portfolio : 4 (A1, A2, A3, A4)
6. Total value of property in portfolio:
A1: $ 9,230,000
A2: 14,400,000
A3: 17,300,000
A4: 22,500,000-
Total: $ 63,430,000Property
A4:
Price: $ 22,500,000,
Equity: $ 9,000,000 (40%)
Loan : $ 13,500,000 (60%), 6.5% fixed for 7 years.7.5% CAP,
NOI $1,687,000은행 payment : $ 877,500 (13,500,000 @ 6.5% = 877,500)
Cash flow : $ 810,000 (1,687,000 – 877,500 = 810,000
)Cash flow: 9% (810,000 / 9,000,000)
Sell A4 via TIC at 6.5% CAP.
Price becomes $ 25,953,000 (1,687,000 / .065 = 25,953,000)
Equity $ 12,453,000 (25,953,000 – 13,500,000 = 12,453,000)
Capital Gain: $ 3,453,000 (12,453,000 – 9,000,000 = 3,453,000)
Capital Gain: 38% (3,453,000 / 9,000,000)
Cash regenerate: $ 11,207,000 (12,453,000 @ 90% = 11,207,000)
Cash available for A5: $ 12,587,000 (11,207,000 + 1,380,000 = $ 12587,000)
Assumptions:
1. Initial Capitalization (창업자본금): $ 5 Million
2. Acquire property A1 at actual CAP 7.5 or better and sell 90% of ownership via TIC &/or LLC at CAP between 6 to 6.5.
3. Acquiring property’s actual CAP should be 1% or better than the interest rate on the Loan.
4. Offer investors (TICs & LLCs) 5 to 7 % cash-on-cash return (pro-forma).
5. Retain 10% ownership in each property for control purpose.
6. Acquisition and disposition of each property may take up to 12 months.
Property A1:
(이 건물은 12-2008 현재 Anaheim, CA 에 실제로 아래와 같이 살수 있는 물건이며 6-2009 정도면 CAP 8 에 살수도 있을것으로 가정됨)
$ 8 Million property with 7.5 CAP
NOI $ $ 600,000 (8 mil @ 7.5%)
Equity investment $ 4 Million (50%)
Financing $ 4 Million (50%), 6.5% interest, fixed 7 years.
Debt service $260,000 (6.5% interest of $4,000,000)
Cash flow $ 340,000 (600,000 – 260,000 = 340,000)
Cash-on-Cash return 8.5% (340,000 / 4,000,000 equity)
Sell 90% equity of A1 at 6.5 CAP via TIC & LLC
Selling price $ 9,230,000 (NOI $ 600,000/ 6.5%)
Equity $ 5,230,000 (9,230,000 – 4,000,000)
Capital gain : $ 1,230,000 (5,230,000 – 4,000,000)
Profit margin: 31% (1,230,000 / 4,000,000)
Retain 10% of $5,230,000 as company investment in the property
A1Equity regenerated via TIC & LLC: $ 4,707,000 (5,230,000 @90%)
Fund available to acquire A2: $ 5,707,000 (4,707,000 + $1,000,000 unused fund)
It may take 3 – 12 months to sell 90% of interest to TICs & LLC members.
Cash flow generated during this time should be sufficient for operation.
투자가 (TIC & LLC) 수익 예상:
TIC invest 90% of $ 5,230,000 = 4,707,000
2nd year cash flow $ 340,000 (NOI $600,000– Debt service 260,000)
TIC cash yield 6.51% (340,000 @ 90% = 306,000/ 4,707,000 = 6.51%)
Cash flow to WISDOM on 10% holding of A1 (340,000 @ 10% = 34,000)
결과:
1. Now WISDOM has $5.707,000 in cash and 10% ownership in A1 (약 500,000 가치)
2. Total value estimated to be $ 6,207,000 (5,707,000 + 500,000)
Property A2:
$12,500,000 Property with CAP 7.5
Invest $5,000,000 (40%)
Finance $ 7,500,000 (60%), 6.5% interest only, fixed for 7 years
7.5 CAP, NOI $ 937,500Interest $487,500 (7500,000 @6.5%)
Cash flow: $450,000 (937,500 – 487,500)
Sell via TIC & LLC at 6.5% CAP
Price becomes $ 14,400,000 (937,500 / 6.5% = 14,400,000)
Equity $ 6,900,000 (14,400,000 – 7500,000 = 6,900,000)
Capital Gain $ 1,900,000 (6900,000 – 5000,000)
Capital Gain: 38% (1,900,000 / 5,000,000)
Sell 90% of equity $6,900,000
Equity generated by A2: $ 6,210,000 (6900,000 @ 90%)
결과:
1. Now WISDOM has $ 6,910,000 (6210,000 = 700,000) in cash and 10 % ownership in both A1 & A2.
2. Total value estimated to be $ 8,100,000 (6,910,000 + 500,000 A1 + 690,000 A2)
Property A3:
가격 : $ 15,000,000, 7.5% CAP, NOI $1,125,000
투자액: $ 6,000,000 (40%)
은행 Loan : $ 9,000,000 (60%), 6.5% interest, fixed for 7 years
7.5% CAP, NOI $1,125,000은행이자: $585,000 (9,000,000 @ 6.5%)
Cash flow : $540,000 (1,125,000 – 585,000 = 540,000
Cash flow: 9% (540,000 / 6,000,000 = 9%)
Sell 90% of A3 via TIC at 6.5% CAP.
Price becomes $ 17,300,000 (1125,000 / .065)
Equity $ 8,300,000 (17,300,000 – 9,000,000 = $8,300,000)
Capital Gain: $ 2,300,000 (8,300,000 – 6,000,000 = 2,300,000)
Capital Gain: 38% (2,300,000 / 6,000,000 = 38%)
Sell 90% of A3 generates: $7,470,000 (8,300,000 @ 90%)
결과:
1. Now WISDOM has cash of $ 10,380,000 (7,470,000 + 910,000) & 10 % of A1, A2 & A3
2. Total value estimated to be $12,400,000 (10,380,000 + 500,000 + 690,000 + 830,000)
3. Estimated number of TIC investors = 46 명 (7470,000 + 6210,000 + 4707,000 = 18,387,000 total equity sold at 50% to TICs @ $200,000 per unit, $9,194,000 / $200,000 = 46)
4. Estimated number of LLC investors 184 명 ($9,194,000 / $50,000 = 184)
5. Total number of property in portfolio : 4 (A1, A2, A3, A4)
6. Total value of property in portfolio:
A1: $ 9,230,000
A2: 14,400,000
A3: 17,300,000
A4: 22,500,000-
Total: $ 63,430,000Property
A4:
Price: $ 22,500,000,
Equity: $ 9,000,000 (40%)
Loan : $ 13,500,000 (60%), 6.5% fixed for 7 years.7.5% CAP,
NOI $1,687,000은행 payment : $ 877,500 (13,500,000 @ 6.5% = 877,500)
Cash flow : $ 810,000 (1,687,000 – 877,500 = 810,000
)Cash flow: 9% (810,000 / 9,000,000)
Sell A4 via TIC at 6.5% CAP.
Price becomes $ 25,953,000 (1,687,000 / .065 = 25,953,000)
Equity $ 12,453,000 (25,953,000 – 13,500,000 = 12,453,000)
Capital Gain: $ 3,453,000 (12,453,000 – 9,000,000 = 3,453,000)
Capital Gain: 38% (3,453,000 / 9,000,000)
Cash regenerate: $ 11,207,000 (12,453,000 @ 90% = 11,207,000)
Cash available for A5: $ 12,587,000 (11,207,000 + 1,380,000 = $ 12587,000)
Monday, December 8, 2008
LLC & TIC 투자가들 수익율
부동산 투자 설명회 (12-2008)
1. Anaheim, CA 에 있는 상가
2. 가격 $9.2 Million, CAP 6.5 , NOI (실제 순수익) $600,000
3. 23 Tenants, 96% Occupancy with NNN Lease, 36,500 Sq. ft.
4. Remodeled 2004, 근처 가구수입 $96,000 넘는 부유한 동네에 위치
5. 은행융자 $4.0 Million (약 43%), 이자 6.5%, 7 년 고정.
6. 투자액에 년 5-7% 수익율과 시가상승 예상
7. 평균 5년 소유 후 팔아서 시가상승 배분
8. 2만달러부터 투자가능 (LLC member)
9. 1031 교환 가능 (TIC)
LLC 투자 선택:
1. LLC 소유권 공동투자 - 최소 투자액 2만달러 부터 1만달러 increment.
2. 기대 수익율은 매년 약 5 - 7 % 분기별 지분. 예, 5만달러 투자, 년 6% 수입 $3,000
3. 4-7 년간 소유 예정이며 (평균 5년) 처분시 약 투자액의 30% 시가상승 (기대치). 예, 5만달러
투자, 5년후 30% 상승, $15,000, 합계 65, 000
5년간 총수입: 15,000 (3,000 @ 5년) + 15,000 (시사상승) = 30,000
4. 일반 LLC 멤버는 건물 운영권이 없으며 은행융자를
assume 하지 않음으로 건물 차압시 책임이 없슴.
TIC 투자선택:
1. 최소투자 20만달러이상
2. Grant Deed 와 Title Insurance 발급
3. 1031 교환 가능
4. 매년 5-7 % 기대 수익율
5. 평균 5년 소유 후 시가상승 은 투자액에 약 30% 기대
6. 운영권에 참여 가능
7. Loan Assumption
1. Anaheim, CA 에 있는 상가
2. 가격 $9.2 Million, CAP 6.5 , NOI (실제 순수익) $600,000
3. 23 Tenants, 96% Occupancy with NNN Lease, 36,500 Sq. ft.
4. Remodeled 2004, 근처 가구수입 $96,000 넘는 부유한 동네에 위치
5. 은행융자 $4.0 Million (약 43%), 이자 6.5%, 7 년 고정.
6. 투자액에 년 5-7% 수익율과 시가상승 예상
7. 평균 5년 소유 후 팔아서 시가상승 배분
8. 2만달러부터 투자가능 (LLC member)
9. 1031 교환 가능 (TIC)
LLC 투자 선택:
1. LLC 소유권 공동투자 - 최소 투자액 2만달러 부터 1만달러 increment.
2. 기대 수익율은 매년 약 5 - 7 % 분기별 지분. 예, 5만달러 투자, 년 6% 수입 $3,000
3. 4-7 년간 소유 예정이며 (평균 5년) 처분시 약 투자액의 30% 시가상승 (기대치). 예, 5만달러
투자, 5년후 30% 상승, $15,000, 합계 65, 000
5년간 총수입: 15,000 (3,000 @ 5년) + 15,000 (시사상승) = 30,000
4. 일반 LLC 멤버는 건물 운영권이 없으며 은행융자를
assume 하지 않음으로 건물 차압시 책임이 없슴.
TIC 투자선택:
1. 최소투자 20만달러이상
2. Grant Deed 와 Title Insurance 발급
3. 1031 교환 가능
4. 매년 5-7 % 기대 수익율
5. 평균 5년 소유 후 시가상승 은 투자액에 약 30% 기대
6. 운영권에 참여 가능
7. Loan Assumption
Sunday, December 7, 2008
중요한 이슈들
1. Property Acquisiton Criterias:
WISDOM acquires properties meeting the following conditions:
a. Located in Orange or Los Angeles County.
b. Retail property generating 7.5 or better actual CAP.
c. Well maintained and well managed property.
d. Price range from $8 - $15 Million.
2. Financing :
a. Finance 50 - 60 % of the acquisition price.
b. Interest should be at least 1% less than the CAP of the property.
c. Preferrably 7 years fixed interest only.
d. Assumable to TICs.
3. Marketing
4. Investor Relations
5. Property Management
6. Portfolio Management
7. Manpower Management
8. Buniness Plan and What-if senarios
9. Outside Attorny & CPA Selections.
WISDOM acquires properties meeting the following conditions:
a. Located in Orange or Los Angeles County.
b. Retail property generating 7.5 or better actual CAP.
c. Well maintained and well managed property.
d. Price range from $8 - $15 Million.
2. Financing :
a. Finance 50 - 60 % of the acquisition price.
b. Interest should be at least 1% less than the CAP of the property.
c. Preferrably 7 years fixed interest only.
d. Assumable to TICs.
3. Marketing
4. Investor Relations
5. Property Management
6. Portfolio Management
7. Manpower Management
8. Buniness Plan and What-if senarios
9. Outside Attorny & CPA Selections.
Saturday, December 6, 2008
WISDOM Pro-forma - 6th year
WISDOM Pro-forma - 6th year
1. 5백만달러 투자액: $10 - 12 Million
2. 전체 건물 숫자: 4
3. 전체 건물 시가: $63,000,000
3. WISDOM 소유지분 : $10 - 12 Million
4. TIC 고객 숫자 : 40 - 50
5. LLC 고객 숫자: 약 200
1. 5백만달러 투자액: $10 - 12 Million
2. 전체 건물 숫자: 4
3. 전체 건물 시가: $63,000,000
3. WISDOM 소유지분 : $10 - 12 Million
4. TIC 고객 숫자 : 40 - 50
5. LLC 고객 숫자: 약 200
부동산 도매업회사 창업멤버 모집 (Shareholder)
부동산 도매업회사 WISDOM 창업멤버 모집 (Shareholder)
자본금: $5,000,000
투자단위: $250,000 per unit (5% ownership) , total 20 units
수익배당: 3% per annum after 2 years
자본금 가치 목표 by 5th year: $5,000,000 to $10,000,000 or more
자본금 가치 목표 by 10th year: $5,000,000 to $20,000,000 or more
Consider IPO in KOSDAQ by the 10th year.
자본금: $5,000,000
투자단위: $250,000 per unit (5% ownership) , total 20 units
수익배당: 3% per annum after 2 years
자본금 가치 목표 by 5th year: $5,000,000 to $10,000,000 or more
자본금 가치 목표 by 10th year: $5,000,000 to $20,000,000 or more
Consider IPO in KOSDAQ by the 10th year.
Friday, December 5, 2008
WISDOM - (Functional) Organizational Chart
WISDOM Real Estate Investments, Inc.
Real Estate Wholesale Business (Functional) Organizational Chart
Shareholders
(Vision & Business Plan )
CEO
(Outside CPA & Attorney )
Management (CFO)
1. Business Plan
2. Budget
3. Financial Statements
4. Tax Filings
5. Human Resources
6. Legal Status
7. Portfolio Managements
Marketing & Sales (CMO)
Marketing:
1. Target Markets
2. Ad & Promotions
Seminars
Mail-outs
Advertising
Professional Articles
Marketing materials
3. Investor Relations
Sales:
1. Prospecting
2. Presentations
3. Closing
Products (COO)
1. Acquisitions
2. Financing
3. TIC documents
LLC documents
4. TIC closing
Real Estate Wholesale Business (Functional) Organizational Chart
Shareholders
(Vision & Business Plan )
CEO
(Outside CPA & Attorney )
Management (CFO)
1. Business Plan
2. Budget
3. Financial Statements
4. Tax Filings
5. Human Resources
6. Legal Status
7. Portfolio Managements
Marketing & Sales (CMO)
Marketing:
1. Target Markets
2. Ad & Promotions
Seminars
Mail-outs
Advertising
Professional Articles
Marketing materials
3. Investor Relations
Sales:
1. Prospecting
2. Presentations
3. Closing
Products (COO)
1. Acquisitions
2. Financing
3. TIC documents
LLC documents
4. TIC closing
Subscribe to:
Posts (Atom)
