Commercial Loan With Personal Bankruptcy (Question/Advice Needed)
I had a terrible situation happen to me and it caused me to declare personal bankruptcy.  I had been working with a college friend on developing restaurants.   He was operations and I did all the raising of capital, engineering, architecture, construction, etc.

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Unfortunately, I signed a lease with a developer that was very corrupt.  Two things happened that made the business insolvent:  1)  My property taxes increased over 400% in a single year.  2)  The developer lied about a vault tax, before signing the lease, and then made us pay for it after opening for business.

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We were operating in Washington, DC and the district wouldn't let us explain our case because we weren't the owners of the property.   The developer didn't care that our taxes were insanely high because they wanted to redevelop the property and wanted us to go bankrupt.

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After paying the taxes for 6 years, the business had nothing left.  We never planned to pay hundreds of thousands in taxes that weren't ours.  It's been over 2 years since I had to file.

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I have been working with another development company doing Dollar General's, Wawa's, Advanced Auto, etc. throughout VA, MD and VA.  I want to go on my own again.  I've been developing real estate for over 15 years, I have the equity investors but the only part I'm missing now is a bank partner.

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Is anyone a bank lender out there that can give me advice?   Will I ever be able to get loan on a NNN development deal?   Thank you in advance!!
[{"id": "ed1n5fk", "text": "I appreciate anyone's advice.  ", "replies": [], "depth": 1}, {"id": "ed1plil", "text": "I don't know if it's a problem with the reddit mobile but your post looks blank apart from the title", "replies": [{"id": "ed1u1v1", "text": "Interesting.  I just rewrote it.  Thanks for the heads up.  Can you see it now? ", "replies": [{"id": "ed1u32v", "text": "Yeah it's good now lol", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "ed1qkt8", "text": "You are looking for a bank construction loan?", "replies": [{"id": "ed1u5x5", "text": "Yes, that is correct.  \n\nI have a few properties that are pad sites or will be turned into pad sites.  I have been working with a few national retailers that are interested in the locations.  I'd like to put up equity and then finance the rest.   Do you think any banks will be able to do it? ", "replies": [{"id": "ed342k8", "text": "Do you have LOI signed from the tenant?  Are the pad sites currently owned or in contract?  We have arranged construction financing for sponsors that have declared bk.  Im actually from Alexandria and live in NYC now.  Let me know if you'd like to get on a call to discuss.  -Scott Tami", "replies": [{"id": "ed357yl", "text": "Hi Scott - I greatly appreciate you reaching out.  I have LOI's and I could put land under contract but I wanted to feel more comfortable with financing options.  \n\nI'd like to get on a call to discuss.  Can you send me over your phone number and website so I can review a little before call?  \n\nLooking forward to talking with you. \n\nMatt", "replies": [{"id": "ed3i534", "text": "Hi Matt,\n\nMy work line is 646-558-6513 and my email address is scott.tami@urscap.com", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "ed1r7b0", "text": "For thoss who can't read it.... And btw its hard to read.\n\nWants to do a NNN DG/WaWa and hold recourse has capital but doesn't have PG.\n\nThats what I read.\n\n  \n\n\nAnswer: if your credit is shot. Find another guarantor. If the cap rate is there you can either get an equity player to recourse or do a non-recorse construction loan if it exists. It likely doesn't.\n\nYou can also JV in lieu of recourse. We all have players I'm one myself.\n\nHowever what you've failed to express here is a cap rate.\n\nIf you have something below market, don't be greedy. JV. Not everyone needs a pref. PM me with the numbers and end result if you're holding a lease in hand.", "replies": [{"id": "ed1udi3", "text": "I have retyped it again.  It looks like the mobile app wasn't working correctly.  Can you read now? ", "replies": [{"id": "ed1umed", "text": "So you need a construction loan?", "replies": [{"id": "ed1uz1m", "text": "Yes, that's correct.  JV could be the best option as well.  \n\nI sent you a PM with project information: development costs, cap rates, etc. ", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "ed1shr2", "text": "Work for a super regional bank. Our view is that it depends. \n\nIf you have a story behind it all (which you do) and now have shown ability to recover (good score, liquidity, etc) then depending on the deal itself will try and do it. \n\nWhat gets tough is if you\u2019re trying to get a high LTC deal done at 80% combined with no real liquidity to back up the deal and have a bunch of personal debt; that\u2019s going to be a no go. \n\nThere are a few lenders out there that will do stuff regardless of score and history but you\u2019re going to also pay out the wazzoo for a rate. Just depends and I would just start networking like mad or try and find a partner that has never filed and is strong to help get the deal approved. ", "replies": [{"id": "ed1vxwd", "text": "I greatly appreciate your response!  It sounds like you work for a regional bank.  Do you mind sharing which one so I can look at what they offer?  \n\n&amp;#x200B;\n\nMy credit is back over 700 and continues to rise every month and no debt at all besides a few home mortgages.  I do have stocks and cash so there is liquidity.  \n\n&amp;#x200B;\n\nCan you clarify what you mean in the 3rd paragraph \"LTC deal done at 80% combined with no real liquidity...\"?  \n\nIf you do 80% LTC and I cover 20% in cash, are you then saying you're going to look at my personal liquidity?  I thought in this case you'd be looking at the financial strength of the tenant and not so much on the personal side.  Please clarify.  \n\n&amp;#x200B;\n\nThank you! ", "replies": [{"id": "ed3twqc", "text": "I worked at a large regional bank where I managed a team of commercial real estate lenders. I agree with what thelastbighead said above.\n\nLenders will look at your personal repayment capacity as a secondary repayment source. Even if the primary repayment source is strong (i.e., the rental cash flow from your tenants), most lenders will at least evaluate your ability to support the loan in the event tenants vacate or the property has other issues.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "ed1xozv", "text": "I\u2019d get someone else to sign the guaranty - will most likely save you money vs paying more in interest with you as the guarantor. \n\nIf you are set on being the guarantor, know that most lenders will want to see net worth (outside of what you plan to put into the deal) in excess of to loan amount &amp; liquidity at somewhere around 10-20% of that amount. I doubt this will be negotiable with your history. I\u2019d reach out to a few of your regional banks and attempt to explain your story to a loan officer and see where that gets you. \n\nThere are a few credit shops and hard money lenders that play in this space but will cost &gt;2x in interest compared to a bank. \n\nThis is all assuming you have a lease in hand.\n\nSource: I work in CREF.", "replies": [{"id": "ed1yp2l", "text": "All great advice.  Thank you!  ", "replies": [], "depth": 2}], "depth": 1}]