Where are you going to get the money to do your deals? This is called the capital stack. It’s called that because every deal usually has two, three and sometimes more types of funding on it.
The first part of the stack is usually institutional funding, the senior debt. Next comes either a second mortgage, mezzanine financing, a bridge loan...the options vary. Then there is the downpayment and closing cost, if syndicated will come from private money investors or a variety of other partners, such as private equity, who may be in the deal.
Then there is the actual deal structure, the way the equity is carved out and paid. Every deal is a puzzle that needs to be solved to get to the closing table. The Funding Specialist certification will give you the tools[...]