Frank Ricci
Frank Ricci, PhD, CHt
Director / Founder

 

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ABOUT US

Dr. Frank Ricci has lead an exciting and varied life, from being a Las Vegas Headliner performing alongside Frank Sinatra, Elvis Presley, Michael Jackson and dozens more, Frank's life took a drastic turn for the worse when he contracted Cancer from second hand smoke. He promised God that if he survived this near-death experience he would dedicate the remainder of his life to helping people in need.

Frank re-educated himself and became a nationally respected Therapist & Inspirational Speaker speaking to more than 200 organizations with over 150,000 attendees plus he was honored with a Humanitarian Award for his work with Downs Syndrome children.

After Frank conducted over 10,000 inspirational events worldwide in entertainment, health, life management and creative real estate solutions he decided to slow down. Frank changed fields once-again and became a highly respected Realtor and Investment Manager with a local Coldwell Banker affiliate during a horrible recessionary period in real estate. Homeowners had there home listed for as long as 18 months with no buyers in sight.

Frank wanted to find a solution for Home Sellers who could not sell their homes and many were defaulting on their loans.

At the same time, many Home Buyers wanted to own a home but could not because they lacked the down payment (At that time it was 20%).

Frank never forgot his promise to help people in need and this was his challenge to find a solution. He heard of a little known program called “Equity Sharing” and believed it could be the perfect solution. It matched qualified Homebuyers with Investors who assisted the buyer with the down payment. In return, the Investor would maintain an ownership position in the property along with the homebuyer.

This excited Frank because it was a chance for him to help both Buyers and Sellers in need. The Investor could either be a Cash Investor or Seller of the property who simply contribute a small percentage of their equity to provide the down payment (No out-of-pocket cash!).

This was the solution Frank was looking for, so he dedicated several months to researching and consulting with real estate attorneys, developing the solid Equity Share program.

Since there are multiple parties involved in an Equity Share, a formal "Equity Share Agreement" must be in place defining the terms and conditions agreed to by the parties.

Frank now needed lenders to agree to finance his program. He negotiated with three major real estate lenders who accepted his program. As a result, Frank with his program, became top producer in the CB affiliate and many sellers avoided potential forecloser and buyers became home owners who would not become homeowners, simply continue renting and not participate in the American Dream.

As a result of his innovative program and encouragement of Coldwell Banker's co-owner and close friend Steve DeSena, Frank became CBs Top Producer.

Frank and FRENDCO Facilitation Services is proud to be a pioneer and one of only a handful of Equity Share Specialists in the United States. Equity share has been featured in articles like the "Wall Street Journal" and "San Francisco Chronicle" featuring Frank as one of the Equity Share specialists.

FRENDCO believes Equity Sharing will become an integral part of real estate in the 21st Century!

Be sure to read the heartwarming testimonials from grateful Buyers, Sellers and Developers we were honored  to help.

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