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mark85304
201 Posts |
 Posted - 05/06/2008 : 2:13:01 PM
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Are there any hard money lenders, commercial lenders, etc that would be willing to lend on 8 purchase properties located in the Austin Metro area.
All 8 properties are at around 70% LTV and lower
All 8 properties are below $175k
The investor has all 8 properties currently under contract. Of course he has money to put down, but he is looking for a lender that will lend on all 8 as a "blanket loan".
Anyone have any ideas? Thanks for the help! |
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bneumann
3 Posts |
Posted - 05/06/2008 : 2:29:49 PM
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Pinecrest National Funding a direct private hard money lender. We specialize in blanket loans as well as cross-colalterilzation and this is something that we could certainly look into for you. All 8 purchases are around $175k each? We will go up to 65% of the portfolio. Our loans range from $500k -$10 million... please call or email with more information.
Amortization: Interest Only
Interest Rates: 800-1200 bps over 30 day LIBOR (11%- 15%)
Origination Fee: 2-5 pts
Closing Time: 5-14 Business Days
Best,
Brad Neumann
Pinecrest National Funding, LLC
Account Executive
Tel: 646.723.3353 Fax: 646.607.9879
501 Madison Ave., Suite 501
New York, NY 10022
www.pinecrestfunding.com
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