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AmFirstMtg
358 Posts |
 Posted - 01/14/2008 : 09:45:52 AM
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Thank you for your help. I have a borrower who is looking to Purchase an existing Self Service Car Wash. Property cash flows on its own. Borrower is looking for minimum down payment loan, they have 700+ FICO's and this is their first commercial purchase.
What is available? Highest LTV? Approx Rates and Terms? Etc.
Thank you again.
Steven |
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AmFirstMtg
358 Posts |
Posted - 01/14/2008 : 10:09:10 AM
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Loan Amt between 800k and 1.3m. Borrower is looking at a few. They are all located in Denver, Ft. Collins and Colorado Springs Metro areas.
Thank you. |
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service1
253 Posts |
Posted - 01/14/2008 : 10:21:16 AM
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Steven,
SBA loans are a good alternative for Car Washes. Would require 20% down, but term would be up to 25 years. Please give me a call. |
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mike@AJTM
21 Posts |
Posted - 01/14/2008 : 10:21:26 AM
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We could provide up to 90% if the cash flow is there. We provide financing nationwide for all types of commercial property. Commercial Option Arm for selected properties. Business loans with or without real estate. Prime rates and Hard Money available, New Construction. LTV as high as 90% CLTV 100% deal per deal basis. All property types considered. Stated programs available. Acquisition & Development High LTV’s Email me a summary or contact me at the number below.
Michael Anthony
New Business Dev. Officer
800-757-9806
561-431-6433 Fax
Michael@ajtmfinancial.com
www.ajtmfinancial.com
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Creditcrunch911
16 Posts |
Posted - 01/14/2008 : 11:01:34 AM
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quote:
Originally posted by AmFirstMtg
Thank you for your help. I have a borrower who is looking to Purchase an existing Self Service Car Wash. Property cash flows on its own. Borrower is looking for minimum down payment loan, they have 700+ FICO's and this is their first commercial purchase.
What is available? Highest LTV? Approx Rates and Terms? Etc.
Thank you again.
Steven
Steven, Call me to discuss. I have several options. 201-362-9559 |
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Matt W.
1795 Posts |
Posted - 01/14/2008 : 2:04:56 PM
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Car wash properties are tough. We look at the land to improvement ratio and most car wash properties have very little improvements other than the car wash "tube" which is considered equipment and not improvements. Helps to have current pictures of the property to ensure we can make a loan on it.
Please call or email for product brochure and for Par pricing.
Thanks,
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EMScommercial
4656 Posts |
Posted - 01/14/2008 : 3:42:43 PM
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Steven...
We've done a few in the past... (car washes that is).....
SBA is an option.....
positives.... less down payment....
negatives.... (where do i start)...
takes forever to underwrite (at least twice as long)
limited income for broker
sba fees
Our network of over 250 commercial funding sources which we are direct brokers for - NATIONWIDE ... and Beyond!!! - could be just what you need for such a deal..... (the number changes regularly - adding and removing to meet our clients' needs) to our database.....
We do all the legwork - finding the lenders interested and getting the documents to them.... receiving the letters of intent and organizing them in sensible order for your clients..... we should work together on your deals.... let's talk!
** We issue a mutual NCND to protect both sides!! **
We currently have 139 lending sources for this type of property **Car Wash** in our internal database! This will help us find just the right loan for your client!!
Please contact me asap so we can get this taken care of! Just a note... if you call and I am not available at that time to talk, any one of my highly trained account managers can help you as well.
Check out our BASIC RATE/TERM sheet to get an idea if your scenario is 'in the ball park' and then contact us to start the ball rolling to get specific numbers for your loan! http://www.EclipseMortgageServices.com/aaaaaEMS_ratesheet.pdf
Thank you... |
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INTEGRITY FINANC
646 Posts |
Posted - 01/14/2008 : 9:11:21 PM
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I can help you with your Car Wash Loan!
Email your 1008, 1003 and credit report to psadhu@ifgloans.com for pricing.
Integrity Financial Group is a Nationwide Commercial Lender, Integrity currently has a Residential / Commercial Hard money Program in California only.
Patrick Sadhu
Wholesale Account Executive
INTEGRITY FINANCIAL GROUP
Tel. 916-343-7559
Fax. 916-409-0753
Email: psadhu@ifgloans.com
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EMScommercial
4656 Posts |
Posted - 01/20/2008 : 3:23:57 PM
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| still need help with this? let us know..... |
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knagi
374 Posts |
Posted - 01/21/2008 : 7:30:11 PM
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Please contact me with any current loans you may need our assistance.
**Our minimum FICO requirement is 600 on both stated and full doc programs
**Our minimum loan amount is $100,000 and maximum of $1,500,000 on stated and $6,000,000 on full-doc
**Our maximum LTV on stated is 85% and the maximum LTV on full doc is 95% and possibly 97% with a strong file on selected properties
I am encouraging you to use these great rates and discounts to your advantage ……
*** We are offering up to $1500 cash back on appraisals at closing this offer is good till March 2008
*** No origination fee
*** We lowered our processing fees from $4995 TO $2995 collected at closing
*** will pay up to 3% YSP
All I need to process this file and give you a pre approval
** 1003
** Credit Report
** 2 yr tax returns (Personal and Business) only if we are going full-Doc
Sincerely,
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