4. Early in the process, send along any
information that could help get a deal done. Over-communicate: send both potential lend- ers and the other party in a deal everything you think could be useful to them. In retail deals, for example, a common mistake is not initially giving full details on the lease deals and the fi nancial health of a center's tenants. T is information is critical for evaluating
cash fl ows and the risks related to a prop- erty. You can certainly provide such details later in the process, but a deal will go more smoothly if you supply as much information as possible early. In addition, take the time to read the leases
and understand the items that might trip up lenders, so you are ready to answer their ques- tions. For example, lenders will oſt en want to fully understand what the tenant is paying for in addition to the base rent, since lease deals can vary in that regard. Free rent periods should also be clearly laid out to lenders, so they know exactly what they are underwriting.
There are many things you can control that will increase your
chances of successfully getting a deal fi nanced.
Also, maintain good, up-to-date infor-
mation systems. Invest in quality industry- specifi c accounting soſt ware that tracks all of the fi nancial components of the leases you administer, and that has a robust accounts payable and fi nancial reporting component. Being able to respond quickly to lenders' requests for information, both to get a deal done and to ensure a smooth partnership aſt er a deal closes, will go a long way toward ensuring future success. 5. Follow your instincts as you evaluate opportunities. Time wasted on a deal that
doesn't work is what economists call an "opportunity cost," meaning you could have spent your time — and your lender's time — on a more productive project. If you have a gut feeling early on that a deal
might not work, act on it. Dig into what is making you feel uneasy, and quickly decide if a deal is worth pursuing. Chances are good that your instincts will be right, and your lender will appreciate it if you are only presenting deals that have the best chance of working. In summary, there are many things you
can control that will increase your chances of successfully getting a deal fi nanced. Plan- ning, tied to tight reporting systems and a realistic look at your company's fi nances, will help ensure that deals contribute to your com- pany's success instead of being a drag on it.
Lisa Loften, CPA, is chief fi nancial offi cer of Atlanta-based Halpern Enterprises. Contact her at lloften@halpern-online.com.
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