Monroe & Giordano



Claffy Consulting & Business Services

Tavares, Florida

352-406-9925

beckyclaffy@

Your Commercial Loan Consultant: BECKY CLAFFY cell: 352-406-9925

Dear Client:

By answering the following questions and providing the information requested, you will provide us with a strong foundation in order to pursue your request. The information will be used to analyze and underwrite your loan preliminarily in order to establish the probable rates and structure of your particular request. The information you provide will be used to:

1) Identify the best lending resources for your loan.

2) Provide preliminary information to lenders so that the best pricing and terms can be located.

At the end of this questionnaire, please find a checklist for the financial documents that will be necessary for a proper analysis. If you wish your consultant will be happy to coordinate the receipt of all documents through your accountant and/or bookkeeper.

We appreciate this important opportunity to provide you with our consulting services. Please contact us at any time with questions and concerns.

Sincerely,

Becky J Claffy

CLAFFY CONSULTING and Business Services, LLC.

Manufactured Home Community and RV Park

Questionnaire and Checklist

Reason for financing: _______________________________________________

Acquisition: ___________ Refinance: _________ Loan Amount Requested: ________________

Subject Property:

Project Name:__________________________________________________________________

Address (include zip code): ______________________________________________________

Local Market Information:

Nearest Town/City (include closest city in excess of 100,000): ________________________

______________________________________________________________________________

Population of Town/City: ________________________________________________________

What are the largest employers in the area of the park and approximately how many tenants?

are employed by each: ___________________________________________________________

______________________________________________________________________________

What is the government municipality or county with jurisdiction over the property?________

______________________________________________________________________________

Park Information:

Is your project under rent control: __________ If so, please explain: _____________________

Age of Project: ____________________

Number of Spaces: ____________________

Acreage: ____________________

Homes per Acre(Density): ____________________

Tenant Profile: ____________________% Family

____________________% Adult

____________________% Adults that are Retired

Occupancy: ____________________% Current

____________________% Last Year

____________________% Year Before Last

Is this park in lease up or expanding: (Please explain) ________________________________

Is any of the park on a land lease: _________________________________________________

How many of the homes are owned by the park: _____________________________________

Approximate number of homes currently for sale: ____________________________________

What is the average age of the homes: _____________________________________________

How many are double-wide: _____________ How many are single-wide:________________

How many spaces will accommodate double-wides: _________________________________

RV INFORMATION:

Are any of the park spaces occupied by RV’s or park models: __________________________

If so, how many: ______________ Park models: _______________ RV’s: __________________

What is the average rent: ________________________________________________________

How many RV’s are annual or 6+6 rentals: _______ Annual: __________ 7+5: ____________

Is this broken down in the rent roll and operating statements: _________________________

Breakdown RV rents: Annual $______________ 6+6______________ 7+5 ______________

Other:_________________________________________________________________

Do tenants sign leases: __________ Term of Lease: __________________________________

When are rents expected to increase next: ______________ How much: __________________

Are any model homes (income from dealers) included in rent roll: _______________________

If so, how many spaces: ________________________________________________________

Are there any rent concessions: ________ If so, please explain: _________________________

______________________________________________________________________________

When and how much was the historical rent increase for the last 5 years: _______________

_____________________________________________________________________________

Do the rent increases go into effect on the lease anniversary dates or at a specific time? _____

Amenities:

Clubhouse: _____ Laundry: _____

Pool: _____ RV Storage: _____

Tennis Courts: _____ Lake: _____

Shuffleboard: _____ Exercise Room: _____

Golf: _____ Jacuzzi: _____

Other: _________________________________________

UTILITES:

Is the sewer connected to a municipal system-if so, with whom: _______________________

If not, please explain: __________________________________________________________

Is the water connected to a municipal system-if so, with whom: ________________________

If not, please explain: _________________________________________________________

What utilities are included in the rent: ____________________________________________

Who is responsible for the lawn mowing: _________________________________________

Are there any service and maintanence contracts in effect: ________________________________

Please list: ___________________________________________________________________

____________________________________________________________________________

Service providers and contractors for the property.

Electricity: _______________________________Pest Control: _________________________

Solid Waste: ______________________________ Natural Gas: ________________________

Landscaping: _____________________________Pool Service: _________________________

Storm Sewer:______________________________

Streets and parking:

Are the streets paved: ____________Approximate width of the streets: ___________________

How many cars can park at each home off the street: _________________________________

Is there guest parking: _____ Where: ____________________________How many:________

Market information:

Is this Park rated? If so please indicate: 5 Star 4 Star 3 Star 2 Star

List the 4-5 competitors to your park:

|Property |Approximate Rent Range |Occupancy Percentage |

| | | |

| | | |

| | | |

| | | |

| | | |

What is the overall market vacancy: _______________________________________________

Park Improvements:

Please list any capital improvements made to the property in the previous 3 years:

|Year |Improvement |$ Amount |

| | | |

| | | |

| | | |

Borrower Information:

Name of the Borrowing Entity: ______________________________________FEIN #_______

Type of Entity: Corporate_____ Partnership_____LLC________ Individual_______________

Is this a single asset entity: _____ If no, explain: ______________________________________

_____________________________________________________________________________

What is the address of the Borrowing Entity: ________________________________________

_____________________________________________________________________________

Who are the principals (major stockholders, general partners, etc.):

_______________________ _____ ________________________________________________

Name % Address

______________________ _____________________ _______________________________

Phone Numbers Fax number Email address

_______________________ _____ ________________________________________________

Name % Address

_______________________ _____________________ _______________________________

Phone Numbers Fax Number Email address

_______________________ _____ ________________________________________________

Name % Address

_____________________ _____________________ _______________________________

Phone Numbers Fax Number Email address

Who is the on site manager: ________________________________Phone:________________

Miscellaneous:

Do you have a recent Appraisal: __________ If so, what is the date of the appraisal and who

is the provider?: _______________________________________________________________

Do you have an Environmental Report: _____ If so, what is the date of the report and who is the provider? _____________________________________________________________

Do you have a survey of the property? By whom: ____________________Phone:___________

Is the park in a high risk flood plain? _______________________________________________

Who is your Property Insurance Agent? ____________________________Phone:___________

Do you have any oil or gasoline tanks in the property?: _______________________________

Do you have a recent copy of your credit bureau report? _______ If not, please advise and explain in advance any probable negative credit information (only within the last 7 years) _____________________________________________________________________________

______________________________________________________________________________

Current Project Financing:

What is the current debt on the project: __________________________________________

To whom: _____________________________________________________________________

Monthly payments: ______________________What is the current note due date:___________

Certification: I hereby certify that the above is true and correct to the best of my knowledge. Claffy Consulting & Business Services may be paid for servicing the loan by the lender. I also agree to give Claffy Consulting and Business Services the exclusive right to present this submission to lenders within the company’s established network of providers, except for the following lenders: (Please list any lenders we may not contact).

Please sign in the space provided below:

______________________ ___ Date:_________

Financial Documents Required: The following list are items that will allow an initial analysis of your loan request.

Checklist: Please provide the following as soon as possible:

1. YTD Income & Expense Statements with corresponding balance sheets for the last three years.

2. Trailing 12 months income and expense broken down by month.

4. Next 12 Month Projections of Income & Expense.

5. Current Rent Roll

6. Copy of last rent increase notice/letter.

7. Pictures.

8. Copy of Appraisal (if Available). Even if the appraisal is old, it provides a wealth of initial information. Generally, a new appraisal will be required or the existing appraisal recertified.

9. Borrower and/or Principal Financial Statements (signed and dated within 90 days.)

10. Borrower and/or Principal Resume of experience. Lenders are looking for a borrower history which might show management abilities and information on the performance of other parks owned now or in the past.

11. Prospectus of property and projected cash flows (if applicable).

12. Copy of Executed Sales Contract (If Applicable).

13. RV Parks Only-Monthly Breakdown of Income for last 12 months showing annuals vs.

transients.

**Please note: Additional items, such as historical tax returns, will be necessary for documentation prior to to the lender.

................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download