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Originally posted by djmarvin

We orginate for a Private Portfolio lender. Your access to the portfolio is exclusive through us.

Here are some bullet points on the product:

Raw Land, Improved Land, & Existing Construction Financing
• This is a true Asset Based Private Portfolio Loan Product
• Loans not sold on Secondary Market
• Can be used for Construction Financing, Existing Construction, and any other Real Estate Backed transaction.
• Construction Financing in Colorado only.
• Raw Land to 55% LTV
• Improved Upon Land to 70% LTV
• Existing Construction to 70% LTV
• LTV Based Upon “As-Is” Fair Market Value, not "Fire Sale Value".
• LTV's on purchase transaction based on fair market value, which can result in 100% financing/no down payment.
• Closing in 7-15 Business Days
• No Credit Check Required
• Approvals based primarily on the equity in the property.
• All 50 states
• Investor Points 3-6%
• Broker and Intermediates can charge the same points charged by the Investor.
• All points and fees can be paid out of loan proceeds (loan amount not to exceed max LTV's)
• Interest Rate 12%
• Max Terms of 20 Years
• $30MM Max Loan Amount, $1MM Minimum Loan Amount (on select transactions Portfolio will syndicate to accommodate transactions that exceed $30MM)
• Can structure Interest Only Payments
• Interest Reserve account up to 12 months allowed.
• Exit strategy is required, but since this is Private Money we are flexible on the type of exit strategy.
• If the equity in the property is strong enough we can structure an Interest Reserve Account of up to 12 months payments if there is no exit strategy or current cash flow. Once the Interest Reserve Account funds are used up then the payments will need to be paid out of pocket.
• $1500 Legal Fees for Attorney to draw up the Loan Commitment Letter (due prior to issuance of Letter of Commitment).
• Primarily commercial properties/projects only
• High End/Large Cap only on a residential deal ($1MM Plus)

Also, for an informal submission I will need (if available):

• Executive Summary, to include the loan request information and the plan on how to pay back the debt (exit strategy).
• Pictures of the subject property.
• Resumes on the principals.
• Any recent appraisals that you may have.
• On income producing properties I will need the 2007 P&L’s and/or rent roll.
• Original purchase price and when the property was bought (land already owned)
• Use of Funds.

Once we decide if this is something that we have an interest in there may be a request for additional documentation and or information.

Please feel free to contact me directly with any questions that you may have.

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