Firm Overview
Practice Areas
Projects
Financing
Real Estate
A Message from the Founder
Who We Are
Established in the fall of 2006, with a principle office in Downtown Kansas City, we operate offices on the Country Club Plaza and a satellite office in North Kansas City. We are a select group of successful business people first. We believe that real estate is the foundation for "real" wealth and chose to build a socially concience business model using real estate as a primary asset class.
The people of JB Funding are dedicated to two core principles:
1. Keep it simple. You hear it on the news, see the infomercials on television or find in your spam box. There is virtually thousands of techniques, skills, formulas or ploys in the get rich now game. When it comes to real estate we believe in simplifying the business cycle. JB Funding acts as your super agent. We provide you all the tools necessary to safely invest in real estate.
2. 100% transparency. We promise to be up front with you. Unlike some firms who spend thousands even millions of dollars covering up their profits we'll show you our costs, our mark up and our profit. We put it right in front of you. We run our business as a democracy not a beurocracy.
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JB Funding, LLC.
2014 Main Street
info_jbfunding.com
Kansas City, MO 64108
Contact us
Ph. 816.569.5836
Fax 816.326.0141
Short sales, foreclosure savers, lease to own, rent to own, subject to, mortgage securities, flipping, tax liens, courthous sales or one of over 240 techniques searchable on Google or Yahoo. Our practice involves only two disciplines:
1. We provide already rented investment property with a fair amount of equity to those earning a minimum gross income of $50,000.00 and with a credit score of 700 or above. Because we operate as a private lender we are able to offer loans for these products with a downpayment of less than $1,000.00.
2. As a private lender we offer reale estate investment loans (residential only) to both novice and experiences real estate investors. In addition to our standard rehab loan we're interested in transactional funding and out of the box loans. If you're in need of funds and you're looking for a relationship with a decision maker we would like to earn your business.
Learn more
Oureach Programs
Peanut Butter & Jelly Crusade
The Peanut Butter and Jelly Crusade is a non-for-profit organization started by JB Funding. On the first Thursday of each month, between 30-40 volunteers assemble as many as 500 sack lunches containing sandwiches, chips, snacks, and bottled water. The PB&J Crusade then takes to the streets of Kansas City to feed as many mouths as possible.
We target local missions, areas of downtown, and even go under bridges to reach people who have lost their will or simply lack the basic resources to apply for a traditional job. This is a time for our company to unite for a good cause.
Home For the Holidays
Along with placing tenants into affordable housing, JB Funding is also dedicated to making it feel like home. We dedicate a portion of our profits to provide tenants with assistance in purchasing presents for both birthdays and during the holiday season. We want to be apart of creating warm memories during the times it matters most.
Educational Programming & Tuition Assistance
JB Funding strongly believes in educating our community. We provide tenants with tutors by giving local teachers an outlet to volunteer their time. Our tutoring program not only assists the children of tenants with homework, but also assists their parents with earning a GED.
We further assist tenants by offering scholarships to qualified residents. Our tuition assistance program gives tenants the financial boost they need to further their education at a local junior college. We are fully committed to seeing our residents succeed.
National Association of Mental Illness (NAMI)
According to the National Association of Mental Illness (NAMI), approximately 18.8 million adults in America are affected by depression each year. The illness is widespread and affects people as young as pre-school aged children. We believe that each and every one of us has a friend or family member suffering from a mental illness.
JB Funding is proud to be a supporter of the NAMI of Kansas City.
Real Estate Loans
Lets find a way to make a deal work. If its real estate related wed like to be your source of capital. Because we are not a broker and use our own funds we can typically get an answer to you within 24 hours or less. Unfortunately we do not lend on raw land or non real estate related projects. Single family homes and small commercial only please. Transactional funding, residential rehab and cash to buy and flip is our sweet spot. But, if you have an out of the box deal let us know. Were out of the box thinkers. The following is a general guideline for loan perimeters.
Term
Flexible loan term from 30 days to 2 years.
Prepayment
No prepayment penalties.
Use of Proceeds
Loans are made for business purposes only.
Loan To Value
Loan amounts can be up to 50-70% of the disposition value of the collateral, based on the estimated cash sale price given a 180 day marketing time. If the loan is used for renovation or construction, the loan amount can be based on the improved value, and would be disbursed in stages as work progresses.
Rates
Rates vary from 9-16% per annum, interest only, depending upon collateral and loan structure.
Fees
In lieu of equity participation we flat price our loans. All loans are subject to fees of which are rolled into the loan.
Loan Size
From $20,000 to $1,000,000.00. Loans above $1,000,000.00 are referred to a broker.
Collateral
Real estate and other fixed or liquid assets.
Click here to view an example of a recent transaction.
Contact us whenever you like
From I-70 take Exit 2A and merge onto I-35S toward Wichita. Take exit ID for 20th St. Turn Left at W 20th St. Turn right at Main St.
From 71 take the 22nd St. exit. Turn left at E 22nd St. Turn right to stay on E 22nd St. Continue on Oak St. Turn left at E 19th St. Turn left at Main St.
From 435 merge onto I-70 W toward Kansas City. Continue on 1-670 W (signs for I-670/Wichita/70/1-35/Topeka). Take exit 2Q for Locust Rd/Truman Rd. Make a slight right at Truman Rd N Dr. Turn left at Grand Blvd. Turn right at E 19th St. Turn left at Main St.
Click here for directions in Google Maps
Employment Opportunities
Careers
JB Funding is always looking for great talent! Qualified sales professionals must have a verifiable track record dating back at least five years.
If you enjoy sales and would like to join our team, please send your resume with cover letter to the address below.
Todays reality is that millions of children around the world are living in urban poverty and face daily challenges in education and health that threaten their minds, bodies and hopes.
The charitable giving by JB Funding is dedicated to improving the lives of these disadvantaged children. Our goal is transformation; enabling meaningful changes to transform their lives and futures. We have focused our charitable efforts on education and health; areas we believe are essential for children to emerge from poverty as healthy, productive adults.
Weeks ago I spent time with local meteorologist Bryan Busby and Kansas City Royals announcer Ryan Lefebre. We came together on a video shoot for JB Funding. While shooting our new promo video and community outreach segments we had time to sit and talk about business and what it meant to be different. Was it better service or possibly a sophisticated pricing strategy? Once the smoke cleared we all agreed that a business should earn money. But was earning enough? Business in general is the consumate taker but what does it give back to the community in which it derives such profit? And what do we as the owners earn besides a paycheck?
Both Ryan and Bryan have charities and we learned so many things about giving back. And because of this we're thrilled to announce our contribution to those who need it most.
Any child living in a home financed by JB Funding will be offered tutoring at no cost to the family. When the time comes for a child to celebrate a birthday JB Funding will donate gifts and arrange parties for the kids. Parents will be offered college scholarship funds to further their education and Christmas in low income houses wont be filled with shame but with smiles, laughter and joy.
We take plenty! We're fortunate. Most of us were born into middle class and cant fully understand the life of a child born into drug abuse or even worse child abuse. Its in this giving comes the greatest reward. Even greater than money. A chance to make a difference.
Thank you for stopping by,
Jeff
Media Kit
About JB Funding
Fact Sheet- 2008
Click Here to Download (.pdf)
Press Releases
Residential Rental Real Estate as an Asset Class 2/2009
Developing Urban Markets 3/2008
Recent Transaction
Address
16 W 91st
Kansas City, Missouri (wornall)
Loan Request
$63,000.00
Loan Amount
Details
Local investor couldnt find a loan to purchase and rehab a house off Wornall and 91st. JB Funding provided 100% of funds. House is under contract for 110K.
9720 Winner Road
$28,000.00
Detail
Respected local investor Dan Reedy sold contract to JB Funding. JB Funding to rehab the unit. We purchased a home for the current tenants to live in as they were on the way to the shelter. Story to be shown on KMBZ Channel 9 with Donna Pittman reporting.
11020 Beacon
$57,000
Home purchased from Investor Connector for 15K. Full rehab from the studs. Home sold to local investor with final appraisal at 115,0000 and 1,100 in gross rents.
5142 Agnes, 5916 Brooklyn, 7003 Walrond, 6728 Bellefontaine, 2125 E 70th terr, 5531 Jaudon Ave, 2504 E 21st
$55,000
Blanket loan issued by JB Funding to pay off note held by private individual. Client requested a 60 day loan.
10020 Horton - Overland Park, Kansas
$135,000
$135000
Client came to JB Funding for loan to purchase home and rehab as an owner occupant.
Here at JB Funding, we don't believe in "testimonials." We do believe in providing you with real photos and numbers of recent transactions so that you can learn, first hand, what to expect when working with JB Funding.
View a Case Study
Click the image to enlarge
What We Do For Our Clients
Simplify Real Estate Investing
JB Funding makes real estate investing simple. Clients are only required to submit a short application. Approved applicants are sent an easy to understand property analysis. We then provide in house financing and rehab the unit on the clients behalf. After the project is complete, clients have the option of appointing JB Funding to serve as the property manager. You keep 100% of all rents with substantial equity.
Provide Property Management
We further simplify the investing process by allowing clients to designate JB Funding to act as the property management. Our team of experts is fully licensed and trained to handle all aspects of property upkeep, locating qualified tenants or buyers, and completing necessary paperwork. Clients can rest easy in knowing that JB Funding is facilitating the process from start to finish. And we even guarantee the mortgage payment for any month the home may become vacant.
Treat Investors Equally
JB Funding treats all investors equally. Investors are placed into our acquisition queue, and matched with properties based on when we receive all supporting documents. This is on a first come first serve basis. We quarterback the entire process and guarantee a predictable positive outcome.
Offer Affordable Investment Options
For as little as $995.00 qualified clients can begin investing in real estate property. Clients assume ownership of the property as soon as the closing process is completed. As a result, clients keep 100% of the monthly rent as well as 100% of the resale earnings.
Guarantee Equity
JB Funding guarantees clients receive substantial equity on their investment. Since inception our clients have realized at least 25% equity. We do more than quote statistics. JB Funding provides clients with a detailed outline showing the initial value of the property. It also shows estimated repair costs and the final appraised value of the home.
We stand behind our guarantee. If the client does not receive at least 15% equity on their original investment of $1000.00 or less, JB Funding will write a check for the difference.
Lower Investment Risks
JB Funding is dedicated to standing behind our investment practices. In addition to guaranteeing projected home equity values, we further lower investment risks by offering a mortgage guarantee. JB Funding will pay half the mortgage for any month, within the first month of purchase; the property does not have a tenant. If we dont perform you arent penalized.
Frequently Asked Questions
Q: What support documents are required?
A: Individual lenders have varying requirements, but examples of normal support docs include:
a) Copy of your drivers license and one other ID
b) Financials such as last two years tax returns, including W-2s and 1099s etc.
c) Last two pay stubs
d) 2 months statements (personal, business, investment accounts including money market, IRA, 401K, etc.)
e) Separate sheet listing any income other than current employer (ex: retirement, social security, child support, etc.) and list of any other real estate, its value, existing lien and monthly mortgage amount (if applicable)
Q: What are my costs?
A: The normal fee for each property is only $995.00 which goes towards eco friendly appliances. The management company charges 10% out of the rent payment. You do not pay this any vacant month and we pay half your mortgage.
Q: Whats the catch? Is there a long-term obligation?
A: None that we can see, the company does everything. Since half the mortgage will be paid for up to one year (for any vacant months), and you get all the net profits from the rents and the final sale, your risks are significantly less than a lone investor buying and selling property. Although the management property agreement is for 12 months, you can sell your property at any time, cash out, and even end the contract with no penalty from us. You can keep your property at the end and continue to get the rental income as long as you want. JB Funding can manage it, or you can make other arrangements you have NO obligation to continue or to do any other deals (although you will want to, once you see how easily it all works!)
Q: So I can cash out at any time, or take it over if I want?
A: Yes. You can do whatever you want with the property. You own it. Its yours.
Q: And all it takes is my credit and 995.00 down?
A: With a FICO score of 700 or higher and $60,000 household income with supporting docs, you can participate.
Q: So how does JB Funding make its money?
A: JB Funding generates profits from a variety of investments including its affordable housing program, as a private lender and more. We approach this program as much as a non-profit would, putting part of its profits back into the communities themselves in the form or homeowner training program, charitable giving and more. This unique approach allows the company to acquire properties in bulk, often entire blocks of hours or lots owned by cities or banks, at much deeper discounts than typical investors.
JB Funding partners with cities and financial institutions to improve the quality of living of many families nationwide, by providing high quality, affordable housing. The city and financial partners often even begin pre-qualifying JB Fundings renters and buyers, before they even being building or rehabbing! The unique financial position in these properties provides an extra cushion which provides for the companys profits upfront, and has room to share with credit-investors to reduce the influence of surrounding market swings or bubbles.
Q: Are these Section 8 houses?
A: In rare cases HUD Section 8 funds may be used, for example, in a major rehab of an apartment complex, but JB Funding does not generally pursue HUD Housing. Most of JB Fundings homes are built so working-class families can afford them. Where the homes are rented, the objective is usually to do a lease-to-own, unless the credit-investor is more interested in a long-term rental property. Instead of relying on programs like Section 8, JB Funding works closely with the city and our financial partners to get renters and buyers approved on the homes, so the investor can cash out and hopefully reinvest again, and so the family can become owners instead of renters.
Q: So, are these inner-city slums or projects? Are these like slumlord properties?
A: Absolutely not! JB Funding does not engage in properties that fall into traditional government project or slumlord categories. We deal in urban, not rural areas, but that doesnt mean war zones! Cities look to us to build high quality homes and rehabbing homes of value, not junk, primarily in urban areas- within municipal boundaries or city limits, or outside of the city itself (but not far-flung suburbs). Some are subdivisions of hundreds of homes; others are scatter-site developments of dozens of homes. In every case, city and financial partners have targeted an area where they need affordable worker and family housing.
Many new homes today are outside of the price range many families can afford. Predatory lending has helped many get into these homes, putting added burdens on the family. Some work two or three jobs, and could own a home IF it was built to be an affordable home, instead of a McMansion. This is a huge market needed in every city across the country, and one that is largely not being addressed by most developers.
Q: But cant you make more on bigger, more expensive houses?
A: Possibly, but that is the most overbuilt market in the country. Supply and demand means that the pricier houses built to make the most money, are also the ones most affected by market bubbles and bursts. JB Funding literally creates its own market, by creating value in houses and communities that didnt exist before. Their philosophy is that making quality housing more accessible for workers and families, as homeowners, is the basis of building thriving communities. Credit-Investors are investing for profit, while becoming the instrument of change for families. Because each Credit-Investor can do up to ten (10) houses per year (depending on credit and income), there is plenty of profit to be made in socially-conscious developing and the credit-investor does NONE of the work!
Q: So why do you need me?
A: JB Funding provides affordable housing for working-class families. Our profits are primarily from our negotiations with banks. Leveraging investors credit resources leaves our cash available for appraisals, title, closing costs, etc., and to create more affordable homes in more communities.
Q: How soon can I get into a house and make money?
A: First, we must receive all of your support documents, then you will be placed in the Property Acquisition Queue for the next available property. From the time you are matched with a house, it will normally take 60-90 days to rehab and rent.
Q: How many houses can I do? How much can I make?
A: You may invest in up to 10 homes each year, based on your credit and income. Your profit depends on the property, and we give you a prospectus on each in advance.
Q: Are these new homes, or rehabs? Where are they?
A: Both new and rehab, in Kansas City, Cleveland, St. Louis and other stable areas with modestly-priced homes.
Q: How risky is this?
A: No investment is risk-free, but real estate is one of the safest, secured by real property. Credit-Investors have fewer risks than lone investors. JB Fundings city partners often provide entire blocks of property, and waiting lists of pre-qualified renters and buyers. This gives an extra cushion against market swings or bubbles, which you share as immediate equity. Plus, the company pays half your mortgage payment for up to 12 months if the house is ever vacant.
Q: How will this affect my credit?
A: Each property is income-producing, creating only very minor effect on your credit (and the company pays half your mortgage if its vacant during the first year). Your information is only used with your permission, on properties you approve of. And, you get Credit Privacy protection insurance for as long as you are in the program.
Q: What if I want to invest cash or rollover my IRA or 401K for tax-deferred investment?
A: JB Funding has other programs for cash and rollover clients.
Fax completed form with supporting documents to 816-474-0016
For Any Other Questions to Discuss Your Particular Needs:
Call: 816-474-0010
Or Call Your Representative
Contact JB Funding
©2009 JB Funding, LLC
