BCRM Group

http://www.bcrmgroup.com/BCRM Group Announces it Will Finance Real Estate Deposits

BCRM Group, an innovative real estate finance startup, spearheads its launch to fund earnest money deposits for real estate acquisitions in the U.S.  

In response to the previously unaddressed demand for capital for real estate deposits, owners Ben Cohn and Randy Modell have formed BCRM Group, which lends money for the due diligence period. Unlike anyone else in the industry, the company offers buyers outside funding for the very earliest stage of a potential real estate investment.  

Typically, real-estate buyers initiate their purchases with a “soft period,” during which due diligence can be conducted. Sellers customarily require an earnest money deposit of as much as 10 percent of the purchase price before granting an option to a purchaser for the above period, while the property is withdrawn from the market. BCRM Group was developed to ease the liquidity burdens of such deposits. 

"As an investment sales broker for 15-years, I have witnessed countless talented entrepreneurs pass on buying opportunities because they did not have immediate funds available for the deposit. If they had the funds available to them, I am confident they would have secured a mortgage and raised the required equity,” said Modell. “There is a need in the market that has not been serviced, but now investors will have the power to proceed with all real estate deals being considered.”   

Cohn and Modell believe this platform is geared toward borrowers of varying profiles, including:

  1. Entrepreneurs beginning their real estate career.  
  2. Experienced investors, often presented with several opportunities, whose immediate funds may be unavailable to tie up every deal being considered.
  3. Financial investors with a preference for delaying the internal rate of return clock by funding deposits off balance sheet.  

“Inspired by clients and contacts in the real estate market looking for deposit funding, we have created a success-based pricing structure that is sensitive to the buyer’s all-in costs," said Cohn.  

 

For deals that proceed to closing after due diligence is complete, services will cost the buyer approximately one percent of the total purchase price. Currently, the founders are financing this new venture from their own resources, with institutional backing and crowd funding as the next development in their growth.

Visit BCRMgroup.com for more information. 

Ben Cohn

Ben Cohn has a Master’s degree from the London Business School, and a Doctorate of Philosophy from the University of Oxford. Originally from London, Ben founded and ran a successful international trading company in New York, and has been a real-estate investor for many years.  

Randy Modell

Randy Modell has a Master's degree from Columbia University's Graduate School of Architecture, Planning and Preservation (M.S. in Real Estate Development). Randy has been active in Real Estate for 15 years as a broker, land assembler, and adviser to family offices and high net worth clients on real estate strategies and valuations. He is a member of the Real Estate Board of New York (REBNY) where he serves as an instructor for continuing education courses, as well as Co-Chairperson of the Early Access Committee.  

 

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Contact Information

Media Contact Name: Heather Mulae
Email: hnmulae@gmail.com

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