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zizou510
225 Posts |
 Posted - 01/30/2008 : 12:00:43 PM
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I’m working on a lot of first this year. This time young grasshopper has a 1.1 million dollar commercial deal with full tax returns to prove income. Not sure if you even need those crazy things. I’m not sure who to take this loan to or how to structure it.
Full doc
Ltv----whatever it must be 5 or 10% down
Good assets
Mid credit
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jskolnick
232 Posts |
Posted - 01/30/2008 : 12:26:34 PM
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Luis,
Yes you will need those crazy tax returns unless you want to go for a stated loan and pay higher interest rates. 10% down might get it done, 20% would be much better, however, depending on the property type, 10% may work. Please feel free to contact me at any time to discuss this loan.
We are commercial mortgage brokers.
We can arrange any type of asset based lending. From lines of credit to accounts receivable, purchase order, equipment financing to real estate. We maintain relationships with a variety of different banks. This gives us the ability to offer the best terms for loans from $500,000.00 and up. Loans can be submitted through our web site, www.greenmountainfs.com, via e-mail to greenmountainfs@gmail.com or call us at 516-596-1456.
Jerry Skolnick
Green Mountain Financial Services, Ltd.
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ComLender
1266 Posts |
Posted - 01/30/2008 : 12:42:33 PM
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| Please feel free to call or e-mail me to discuss structure and pricing. |
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kenvphan
452 Posts |
Posted - 01/30/2008 : 3:31:14 PM
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| I can help if they can come up with 20%. Terms will be dependent on property type and strength of borrower. |
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Matt W.
1927 Posts |
Posted - 01/30/2008 : 3:38:36 PM
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Can help you if they only have 10% down. What property type? Please call or email me with more information and I will help you every step of the way.
Thanks, |
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bzloanman
899 Posts |
Posted - 01/30/2008 : 3:54:30 PM
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Just a piece of advice for those just geting into commercial. There is the basic rule of 80/20. 80% of the loan is based on the property. Sure the borrower has to be able to pat for the loan but if you have a borrower with suberb credit and financials, it wont matter if he's trying to buy a commercial property who's P&Ls or rent rolls are in the proverbial $h!tter.
Now for the deal you're talking about now you wouldn't come to me because I'm hard money. The ltv's won't work for you. You've already had several other commercial lenders reply so you want to talk with them.
I'd ask them if they have training for commercial loans on their website or if they could send you something to go over. I know that either interbay or silverhill had a little training link years ago maybe they still do now.
Good luck and whoever you talk to let them know you don't know much and ask them to help you.
Close'em!!
BZ |
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bmiklos
2 Posts |
Posted - 01/30/2008 : 5:20:45 PM
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quote:
Originally posted by zizou510
I’m working on a lot of first this year. This time young grasshopper has a 1.1 million dollar commercial deal with full tax returns to prove income. Not sure if you even need those crazy things. I’m not sure who to take this loan to or how to structure it.
Full doc
Ltv----whatever it must be 5 or 10% down
Good assets
Mid credit
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bmiklos
2 Posts |
Posted - 01/30/2008 : 5:27:11 PM
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quote:
Originally posted by zizou510
I’m working on a lot of first this year. This time young grasshopper has a 1.1 million dollar commercial deal with full tax returns to prove income. Not sure if you even need those crazy things. I’m not sure who to take this loan to or how to structure it.
Full doc
Ltv----whatever it must be 5 or 10% down
Good assets
Mid credit
I am a wholesale commerical lender. We will consider deals with a LTV Max of 75%. Seller carry can cltv the deal to 85%. Must be full doc. We will an appraisal per FDIC requirements that we order. If you want a rate/term quote, our products are generally at par. Please e-mail the P&L, Balalnce sheets for the project, loan amount requested, time for cloisnhg of deal, estimated FICO, borrower presumed net worth and pictuers!
Finally, your contact number for phone discussions is helpful.
We offer 30 year amortization, due in 15 years, can be fixed 3,5,7,10 years roll to non-negative AML. Prepayments flexiable, no impounds no legal fess, limited environmental screen $300, plus cost of bank ordered MAI appraisal. Min. DCR 1.15 for most property types. I am interested in your deal.
Quesitons, call me at 916-533-3317.
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RodneyLO
821 Posts |
Posted - 01/30/2008 : 5:33:13 PM
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quote:
Commercial --- grasshopper here
Quick learner, him.
Stay around, he may.
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gman1958
294 Posts |
Posted - 01/30/2008 : 6:34:04 PM
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luis
i sent u an email...
quote:
Originally posted by zizou510
I’m working on a lot of first this year. This time young grasshopper has a 1.1 million dollar commercial deal with full tax returns to prove income. Not sure if you even need those crazy things. I’m not sure who to take this loan to or how to structure it.
Full doc
Ltv----whatever it must be 5 or 10% down
Good assets
Mid credit
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danielk369
423 Posts |
Posted - 01/30/2008 : 7:02:42 PM
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Luis,
I would like to go over this scenario with you, I have many investors that I work with and should be able to get this done for you, you can either call or email me. |
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swmsn
4205 Posts |
Posted - 01/30/2008 : 7:33:08 PM
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Zizou, email me and I'll give you a list of docs you need and answers to why you need each one and what the importance is. ( That will get you started ) I can help on your deal as well but need obvious details. You can use this as commercial 101. I look fwd to hearing from you. Even if you dont want to use me, I'll still help. :)
What goes around comes back around. |
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zizou510
225 Posts |
Posted - 01/30/2008 : 7:36:44 PM
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thank you to everyone!!!!!! It's great that everyone wants to help.I will be in contact thursday.
tax you, and god bless america |
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INTEGRITY FINANC
646 Posts |
Posted - 01/30/2008 : 10:47:33 PM
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I can help you with your Commercial 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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knagi
374 Posts |
Posted - 01/30/2008 : 11:44:47 PM
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love to take you under our wings and sign you up with my company
$0 origination
will close in 30 days
$2995 underwriting fee collected at closin
will pay up to 3% YSP
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Mark_GMC
579 Posts |
Posted - 01/31/2008 : 05:40:02 AM
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GMC has recently expanded it commercial programs and now offers:
CONVENTIONAL, SMALL BALANCE, and HARD MONEY Commercial Programs.
We offer loans from $150k to $10M+ and can lend to all FICO scores and most property types, depending on which program your scenario fits into.
Please feel free to take a look at our latest commercial flyer at http://www.gmcmortgagecapital.com/docs/MS/GMC-Commercial-Flyer.jpg
If you have a scenario to present, we offer a QUICK solution at http://commercial-ms.gmcmortgagecapital.com This only takes about 60 seconds to complete and our commercial desk will get back with you quickly as to which program best fits your scenario's needs.
Please feel free to contact us directly at (954) 332-3567 x201 if you prefer. We're more than happy to give you an honest, straight forward conversation concerning your deal and our ability to get it done. We look forward to speaking with you soon! |
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EMScommercial
5138 Posts |
Posted - 02/01/2008 : 6:39:05 PM
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Please let us know if we can help you with your commercial scenario(s) - I'm sure that if there is any financing options for your clients out there, we can find it in our vast internal database of commercial lending sources of which we are direct brokers for (currently stands at 275+ entries as of today (lenders, banks, private money, hedge funds, insurance companies, etc.)).
EMS is the end of that broker chain.... next step - the lending source....
** We issue a mutual NCND to protect both sides!! **
Remember... We only get paid when the thing funds!
Thanks! |
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