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themoneyman
8 Posts |
 Posted - 03/24/2008 : 7:56:46 PM
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I am looking for a hard money lender to assist with the purchase of an apartment complex. Borrower has experience. Property has 47 units fully leased with excellent rent roll and cashflow.
Sticking point is borrower has low credit (low 500's) and is requesting 80% LTV. Purchase price is $3MM and borrower has $600k down. Recent appraisal supports purchase price.
Let me know if you can assist with the above scenario. If not as requested please supply me with your best terms. Reply to greg@allianceccg.com |
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omegafunding
277 Posts |
Posted - 03/27/2008 : 1:58:56 PM
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If the sellers can carry a second and the property can service the debt you might have a deal. 50% 1st position. Up to 90% CLTV. Call to discuss
Omega Funding, Inc
www.omegafund.com |
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