Ward Neely

Co-founder of @GumptionCRE. Commercial real estate developer. I help other developers, property owners, and investors source debt.

[Ward Neely @Ward__Neely]

I’ve sat in on my fair share of interviews lately.

If I could wave a magic wand, I wish I could drive next to the candidate in morning traffic and see how they handle an ambulance coming up behind them during rush hour. Seems like the action/reaction tells you more in 3 minutes than you could learn in an hour of talking…

[Ward Neely @Ward__Neely]

There’s mass frustration with the surging prices of Levi Garrett loose leaf chewing tobacco.

The price surge is a combination in government pressure through higher taxes, less competition and the knowledge that odds a user switches brands is low.

Same thing is happening in commercial real estate borrowing. More government pressure. Fewer options. Slow processes lead to unlikely swaps.

Don’t fall asleep at the wheel. Gumption gives you access to 750+ lenders at the click of a button. More competition. Faster rates. Better pricing.

And for the record, Red Man golden blend > Levi Garrett

[Ward Neely @Ward__Neely]

Seems like there’s been solid stability amongst CRE shops the last 5-7 years.

I’ve seen, spoken to, and interviewed more people in the last 3 months that are looking to or have already made a move.

The last time I remember seeing volatility in folks jumping shops was 2010ish. That followed a pretty awesome run. I’m optimistic, that we’re looking at a similar scenario.

People always seem more willing to take a jump when they feel like they’re about to pick up a big growth in pipeline from existing clients. That should help stabilize risk and fuel the move.

Anyone else seeing or thinking similar?

[Ward Neely @Ward__Neely]

The panic surrounding Commercial real estate brokerage and AI is a drastic overreaction. AI will change processes and workflows for brokers, but as long as real estate is still owned by humans, we’ll need human brokers.

Anyone stoking the fire has never bought and sold commercial real estate and dealt with the ups and downs of the crazy personalities that live in this business…

[Ward Neely @Ward__Neely]

Do you or someone you know need non recourse Multi Family bridge debt?

New lender on the platform is throwing out very aggressive bridge/lease up to agency options.

Targeting borrowers with 3000+ unit agency experience.

Terms:
Non-recourse
75% LTC/ 65% of stabilized LTV
minimum proceeds of $15-20m
SOFR + 160-170
Full term I/O
2+1, 2+2+2, or 3+1 no lockout and flexible on exit.

Call me. Text me. DM me. or tag your friends.

Borrowing money sucks. No way around it. Gumption makes the worst part of Commercial real estate more tolerable. 750+ lenders. Fast feedback. Quick terms. We leverage everything software and AI have to offer to get your projects financed faster than ever before. No up front fees. No subscriptions. We only get paid if we deliver results. No reason not to be using us...

In the words of the great philosopher Kevin Kisner, "This ain't no Hobby!"

[Ward Neely @Ward__Neely]

@Grayson270 Dont be a rag. Alabama is already short on reliable sources in Montgomery. Dont discredit yourself by picking a loser in August… I’m sure Trump wouldn’t be a fan of taking trial lawyer money or raising for one race only to step away and use that money for another…

[Ward Neely @Ward__Neely]

People used to loyally shop at the mom and pop locals.

Big box retailers ran them out. Then Amazon stepped in.

Similarly, people loyally backed at their community banks. Then big consolidation and small bank acquisitions destroyed the community bank relationships.

Big banks say they want relationships but then outsource customer service overseas…

You want small bank service? @GumptionCRE will introduce you to them.

You want best pricing? Gumption runs a competitive marketplace to drive best terms.

We can’t change the past, but we can definitely make your borrowing future better!

[Ward Neely @Ward__Neely]

Who needs equity?

This has been our biggest product request for @GumptionCRE.

"You guys are killing the debt side of the stack, add equity so I can build my full stack in the same spot."

"If you guys add equity, I would never go anywhere else for my capital stack again!"

I've been hesitant to add it. I thought it might be a distraction. (really odd considering how ADD I am) After all, we are killing the debt side and still barely scratching the surface of the overall market.

Fast forward to today. We've had multiple deals where we executed the debt side effectively and efficiently, only to have the equity stack pulled last minute.

We built Gumption to create efficiency, competition, and transparency in the finance side of real estate so that the deal makers could deal make. This is the next stop in executing that plan.

Gumption is now rolling out institutional equity in combination with debt.

Phone lines, inbox, and DM's are open. Let's talk!

[Ward Neely @Ward__Neely]

I wish you could short overpriced real estate...

Im still shocked at how big the buy/sell divide is in today's market.

[Ward Neely @Ward__Neely]

I started construction on the biggest project of my career in January of 2020.

It was 3x the next largest deal I had taken on. I knew I was taking a big risk, but I analyzed it from almost every angle and was willing to deal with the repercussions if it failed.

Six weeks into construction, a worldwide pandemic hit. (not on the bingo card)

I had to pause everything and extend I/O. When it was time to start back, I was told that I needed to refinance or go to PI on the loan. Going permanent was not an option. I had at least 6 months left on construction with zero rental income.

My options were to refi or sell. I called everyone in the state of AL to refi that deal. I wasted countless hours and money on coffee meetings and lunches constantly getting strung along to be told we aren't financing anything with hospitality right now. At the peak of pain, I was paying out over $60k/month on interest for non performing assets. Bankers didnt think they were wasting my time bc they were buying the coffee or the meal. Little did they know, I was losing roughly $70/hour. Every one day delay in an email response? = $1,650+

The situation was dire and reality set in. I sat my wife down and explained how many months we had and what bankruptcy might look like if we couldn't sell. Fortunately, it never got to that point and a group bought the project.

Then the "light bulb" moment happened. The new group refinanced with an out of state bank i had never heard of. How can you find a date on an app or your phone, or a ride from some rando, but you cant find financing for a commercial real estate project.

That's where @GumptionCRE started. A painful moment evolved into a brand new venture. We set out to solve a problem. Our goal was that no person would ever be in my former situation in the future. Maximize efficiency leveraging technology. Create a competitive process that balances that power between borrowers and lenders.

The two biggest surprises for me? I never imagined how quickly we would be able to drive better deal terms faster that ever for commercial borrowers. Also, I never imagined how thankful the lenders would be for efficiently sending highly curated deal flow that fit their credit needs.

It works. We've built and AI term estimator. We're about to launch an AI CRE investment analysis tool.

Five years ago, I couldn't see the light at the end of the tunnel. Today's CRE environment could be much better. I'm telling you, hang on. It will turn around. Gumption can help you get your deal to the finish line.

If you want to stay up to date on cutting edge real estate technology, follow us.

If you have a deal you're looking to finance, reach out to me.

We want to help you.

[Ward Neely @Ward__Neely]

Anyone who’s done a project around the house knows having the right tools is the key to efficiency. Not having them can turn a one hour project into a full day.

@GumptionCRE is the end-all be-all tool for commercial real estate finance. If you aren’t using Gumption, you’re walking into a big project unprepared.

We’re getting rates in the 5’s. We’re solving problems nobody else can. To top it all off, we’re doing it more efficiently and in an enjoyable process.

Turn in your horse and carriage and start using modern technology. If you aren’t, your competitors will.

Adopt or get lapped. Rubbin’s racing boys!

[Ward Neely @Ward__Neely]

Really excited to share my unfiltered opinions on the venture capital personalities from the lens of a Real estate/general contractor lens once we wrap up this round.

Here’s a tidbit. There’s a bunch of dudes in that world with ivy league educations. Most of them think they know how to run a business bc… Harvard or something similar. After hearing some of their thoughts, it’s about like some 40 yr old who thinks he’s ready to take on the PGA tour bc he’s watched YouTube swing tips from butch Harmon…

Some of these guys couldn’t run a shaved ice stand on the gulf coast in July and turn a profit…

[Ward Neely @Ward__Neely]

Henry Ford paid his Assembly Line employees several times over the "usual wage rates" to attract the best workers and to make sure they could afford to own the cars they built.

[Ward Neely @Ward__Neely]

It’s really easy to out hustle people in todays world. If you’re not hustling, you can’t really complain about the economy. Tons of opportunities out there.

A mentor once said, everyone makes money in a good economy. A smaller number make fortunes in a bad one.

[Ward Neely @Ward__Neely]

I've heard so many different opinions over the years on the health of the economy. Some from highly educated professionals, others from folks regurgitating the news.

The one that stuck with me seems to be the most consistent:

Go sit in a Home Depot parking lot on a Saturday morning and see how full the parking lot is.

[Ward Neely @Ward__Neely]

George Strait sang about his ex's in Texas.

What most people don't know is that Allison from Galveston somehow lost her sanity, because she wasn't using @GumptionCRE to finance her Texas commercial real estate deals!

Stay sane. Use Gumption. Any deals. Any size. Anywhere.

[Gumption Financial @GumptionCRE]

Episode 4 of the Gumption Podcast is now live on Youtube and Apple Podcasts.

@Ward__Neely interviews Bryan Holtfrom Southpace Properties about how he fell into the CRE business and became an industry leader.

https://t.co/FfFH6Df0O2

[Ward Neely @Ward__Neely]

The majority of lenders claim to be "community" banks. They say we're looking for "relationships." What they really mean is "we want your deposits, so we can keep lending"

They claim to not be transactional and never will be.

The problem: Most banks suck at customer acquisitions. And by suck I mean Chicago White Sox bad. They think because they have the money, the customer should be thanking them for any opportunity to do business with them.

Want to know who's winning right now?

The lenders who lead with a transaction. They deliver a much needed loan. The borrower is grateful. This is the beginning of a new relationship.

It's hard to blame the lenders. They have to spend the majority of their time dealing with excess regulation and constant changes. Unfortunately, that focus leaves their customer acquisition strategy about 3-4 decades behind where it needs to be.

Coozies keep drinks cold. They don't win business.

@GumptionCRE is sending high quality leads to lenders. Making new intros. Starting new relationships. It leads to deposits and more loans.

If you have enough coozies, send us your next CRE financing deal and we'll get you better terms than you've been seeing. If we don't, you owe us nothing.

[Ward Neely @Ward__Neely]

The Business Journal just sent me an email calling for submissions for the non profit sector.

I'm thinking about sending my last couple real estate deals. I'll tell the story about exit cap increases, insurance increases, construction costs etc...

[Ward Neely @Ward__Neely]

Gumption defined: shrewd or spirited resourcefulness. Enterprise, initiative, and common sense.

I originally thought the name Gumption sucked. I was wrong. We couldn’t have picked a better name to describe the development/property ownership operators. These guys/gals are the grittiest. Don’t take no for an answer ever. Lay it all on the line almost every time.

These are our people and their attitude and grit makes it easy for us to stay motivated to grow Gumption into a monster.

As always, if you have ANY commercial real estate deal you’re looking to finance/refinance, we can help you. Free to try. Results driven. Doesn’t matter if you are black/white, male/female, old/young, rich/emerging, we’re your guys! 365-7 days a week. We’re here to help.