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.
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.
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.
wanted to find a solution for Home Sellers who could not sell their
homes and many were defaulting on their loans.
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%).
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.
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!).
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.
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.
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.
a result of his innovative program and encouragement of Coldwell Banker's
co-owner and close friend Steve DeSena, Frank became CBs Top Producer.
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
believes Equity Sharing will become an integral part of real estate
in the 21st Century!
sure to read the heartwarming testimonials
from grateful Buyers, Sellers and Developers we were honored