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rhelali
106 Posts |
 Posted - 05/07/2008 : 1:11:40 PM
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I need a lender who can finance a construction loan for $15-$20million. Current value of the land is $9million, future value is $45-$65million.
Purpose is for a new construction of 9 homes in Southern California.
The developer already owns the land, but needs the loan to build the homes.
Appraisal with current and future values have been completed.
I have the executive summary as well as the proforma and 3 years tax returns.
Everything is ready to go, but need financing!!
Phase 1 of the project is under construction, this loan request is for phase 2.
Please email me!!
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lenderben
933 Posts |
Posted - 05/07/2008 : 1:57:10 PM
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are there presales? is there any current debt on the property?
i would be happy to review the executive summary.
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JSKF
163 Posts |
Posted - 05/07/2008 : 2:05:37 PM
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Commercial Real Estate Lender
Kennedy Funding was founded in 1988 with the mission of providing two things sadly lacking in the traditional lender arena: speed and creativity. Conservative lending institutions such as banks and credit unions routinely took weeks or even months to close a loan, or denied funding outright due to restrictive regulation practices. Since we began, we have been issuing commitments in 24 hours and funding loans from $1 million to $100 million and more in as fast as five days or less. And as of 1996, we are a global lender, with a presence in North and South America, the Caribbean, Europe, and the South Pacific. Kennedy Funding specializes in short-term real estate-secured loans for a broad selection of situations, including bridge loans, land acquisition, raw land loans, development and construction, bankruptcies, foreclosures, and workouts.
Please contact Jeffsilver@kennedyfunding.com
P: 1-201-342-8500
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rhelali
106 Posts |
Posted - 05/07/2008 : 2:56:27 PM
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quote:
Originally posted by lenderben
are there presales? is there any current debt on the property?
i would be happy to review the executive summary.
Yes, 2 homes have been completed in phase 1
One home is in escrow for $3.4million
The other is still on the market
In addition, a piece of land has been sold for $1million and the home will be custom built to the buyer's specifications.
I'll email you the executive summary and pro forma in a few minutes.
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rhelali
106 Posts |
Posted - 05/07/2008 : 3:01:27 PM
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quote:
Originally posted by lenderben
are there presales? is there any current debt on the property?
i would be happy to review the executive summary.
Almost forgot, the current liens on the land total $4.75million |
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rhelali
106 Posts |
Posted - 05/07/2008 : 3:36:44 PM
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| just wanted to thank everyone who replied for your help |
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Jordan.Hurley1
41 Posts |
Posted - 05/07/2008 : 5:10:21 PM
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| i would be able to help you shoot me an email jordan.hurley1@gmail.com Thank you |
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rhelali
106 Posts |
Posted - 05/07/2008 : 5:37:47 PM
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quote:
Originally posted by Jordan.Hurley1
i would be able to help you shoot me an email jordan.hurley1@gmail.com Thank you
Jordan... You've got mail |
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alexfnil
3 Posts |
Posted - 05/07/2008 : 6:40:07 PM
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| I can help you with this. Shoot me an email. |
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rhelali
106 Posts |
Posted - 05/07/2008 : 7:48:39 PM
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quote:
Originally posted by alexfnil
I can help you with this. Shoot me an email.
Alex, you've got mail |
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rhelali
106 Posts |
Posted - 05/07/2008 : 7:50:31 PM
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Thank you all for your help.
I won't be taking any more inquiries for now |
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