tranceou Posted February 23 Report Share Posted February 23 Originally posted by jdp33 Any investor/bank/venture capitalist would be simply NUTS to bank roll a DJ !Unless of course your name is Tiesto... True but it is because PATRONS give this business such bad name. And I am sorry to break it to you JPs crowds are some of the worse ones at that. Underage drinking and drug abuse is the major part why NYC nightclubbing has been suffering tremendously. As far as bank rolling a DJ well wasnt Diggers the real estate owner of a building where Renaissance was situated? Quote Link to comment Share on other sites More sharing options...
launch Posted February 24 Report Share Posted February 24 Originally posted by pangelid ummm, have you ever heard of a mortgage...and private investors? learn about finance before you write stupid shit. 20% down payment of 22 million is 4.4mil. Mortgage rates are 4%. Running with the club would pay the 60K monthly mortgage and some roughly. Not exactly chump change but very doable. It will be a little more than that. First of all a 22 million dollar building is zoned commercial obviously, and you will never find a 4% for a commercial mortgage. It will be more like 7 or 8 percent. Also, its amortization wont be 30 years, but more like 10-15. With just the principle payment on a 15 year mortgage at 7% you are looking at a 170k payment per month. Thats with 20% down WITHOUT taxes. Private investors, or Hard money lenders require AT LEAST 30% down, probably more for this size. Im guessing monthly payments would be upwards of 250k with everything included. Thats a lot of dough. Quote Link to comment Share on other sites More sharing options...
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