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rkrieg24
129 Posts |
 Posted - 05/05/2008 : 12:24:01 PM
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Purchase
701 Fico
SIVA
80%LTV --10% Seller 2nd =90% LTV
CA
7 Unit
Purchase price to be determined. Between 600k-900k. |
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PinnaclePeters
943 Posts |
Posted - 05/05/2008 : 12:48:13 PM
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You probably won't need to go "stated" on a multi-family. The leases should cover the debt (if not, why would he want to purchase it?)
I can do 80%, but no seller held 2nd would be allowed.
Gift funds, yes.
30 day source/seasoning, no reserves required...
30 yr. fixed rate @ 8.50% w/ no lock-out.
No upfront fees. |
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EMScommercial
4444 Posts |
Posted - 05/05/2008 : 12:51:44 PM
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I believe in today's market 15% skin in the game from the borrower may be your minimum down payment requirement (plus fees).... how are they cash flowing?
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 325+ entries as of today (lenders, banks, private money, hedge funds, pension funds, insurance companies, etc.)).
Eclipse Mortgage Services is the proverbial 'head of the snake'... 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!
Hyperlink to our page for submissions - very straight forward and simple - http://www.eclipsemortgageservices.com/body_contactme.php - we will instantaneously receive word of you submission and one of our account managers will be assigned and within one business day, you will be contacted and we can start the process!
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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ccbank
1174 Posts |
Posted - 05/05/2008 : 2:18:23 PM
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quote:
Originally posted by PinnaclePeters
You probably won't need to go "stated" on a multi-family. The leases should cover the debt (if not, why would he want to purchase it?)
He doesn't know how to structure the deal. |
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stuartg_
57 Posts |
Posted - 05/05/2008 : 3:31:49 PM
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In regards to your posting, here is what we can generally do:
Brinkabar participates in the following types of financing domestically and internationally:
Accounts Receivable, Bridge Loans, Corporate Restructuring, Corporate Working Capital, Import-Export, Intermediate Term Lending, Inventory, Leasing, Leveraged Buyouts, Machinery and Equipment, Management Buyouts, Mezzanine, Participations, Real Estate, Recapitalizations, Refinancing, Tax Exempt
Real Estate-
Acquisitions and Development:
Hotels, Condos, Residential Subdivisions, etc.
Raw Land Development up to 75% LTV
Construction up to 95% LTV
Income-Producing:
Apartments, hotels, offices, agricultural, industrial, multi-use
Up to 85% LTV
Mergers and Acquisitions (business-related)-
Up to 90% LTV
Size- $1-500M
Please send me basic info such as summary, use of funds, financials on project and buyer and I should be able to give you a prompt answer.
Very Best,
Stuart G Lewis
Managing Director
Brinkabar, Inc.
9595 Wilshire Blvd., Suite 900
Beverly Hills, CA 90212
310-300-8463 Tel
310-496-0588 Fax
slewis@brinkabar.com
www.brinkabar.com
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swmsn
4181 Posts |
Posted - 05/05/2008 : 5:15:33 PM
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Carlos and Chris are right.
In a multi Fam you usually can go full doc even if the borrowers taxes are not great. If the borrower is not liquid a million bucks its ok because it's the property that matters, not the borrower.
As Chris mentioned finding a home for this at such a high ltv may be a waste of time. Many Lenders want to see more money from a buyer especially in this market. Look at the borrowers 1003 and see what else you can refi to get more money. If you are able to have the borrower put in atleast 15% email me and I'll tell you what docs I need to see.
I think you can find some term sheets on 90% with seller held, but getting the deal to close will be another story. |
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rkrieg24
129 Posts |
Posted - 05/08/2008 : 2:25:14 PM
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Net Income--> $65,000
Purchase Price-->$850,000
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swmsn
4181 Posts |
Posted - 05/08/2008 : 6:09:23 PM
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| Are you sure of the Net? Send me your rent roll and P&L and let me make sure this is correct. ( Its free ) :) |
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