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AH0215
139 Posts |
 Posted - 05/08/2008 : 7:26:36 PM
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| This person owns a Stripmail 16 units, 4 units are vacant, and he owes 3,600,000 and the purchase price was 5.8 million. The new loan amount will be 4,350,000 Million, 75% LTV/CLTV, full doc. Cashout Refinance. Fico is 600, let me know. Thanks! |
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gcaron05
154 Posts |
Posted - 05/08/2008 : 7:32:22 PM
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quote:
Originally posted by AH0215
This person owns a Stripmail 16 units, 4 units are vacant, and he owes 3,600,000 and the purchase price was 5.8 million. The new loan amount will be 4,350,000 Million, 75% LTV/CLTV, full doc. Cashout Refinance. Fico is 600, let me know. Thanks!
We may be able to help, contact me. |
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AH0215
139 Posts |
Posted - 05/08/2008 : 7:34:21 PM
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| Do you guys require us to get approve with you? |
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gcaron05
154 Posts |
Posted - 05/08/2008 : 7:37:52 PM
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quote:
Originally posted by AH0215
Do you guys require us to get approve with you?
No just email me or call me. |
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ComLender
1035 Posts |
Posted - 05/09/2008 : 08:44:53 AM
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| Need a bit more information, but would have some interest in discussing this one. |
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privatelender4u
94 Posts |
Posted - 05/09/2008 : 11:20:53 AM
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What state? If it's in FL, DC, VA and MD. I probably can help.
call me for detail. 407-590-4109 |
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AH0215
139 Posts |
Posted - 05/09/2008 : 12:58:48 PM
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| it's in CA, and whatvare the typical going fees that you guys charge to the borrower? I am charging 1% for the origination and I have all the paper work from the client as well. Anyone that are interested please give me a call, my number is 9166134900, thanks guys! |
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swmsn
3984 Posts |
Posted - 05/09/2008 : 1:28:52 PM
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Hard Money Rates for this nationwide will be 12%- 14%
Fees are usually 2-5 Lender points.
75%ltv is high but possible by showing the strength of the deal. This will need to be structured correctly to make this happen with most.
Your Exit Strategy is KEY but that should be: Fix credit within 12 months and refi into conventional loan.
With Hard Money commercial Lenders you really do not nee to sign up. Most if not all you talk to are brokers anyway with Hard Money sources and hopefully the experience to help you.
Email me if you have not sent this out to 20 people by now and I'll send you a list of docs needed for review.
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cdavis77
58 Posts |
Posted - 05/09/2008 : 1:32:03 PM
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Anna,
I would like to see this deal as well. D you have an executive summary? Photos? If so email it to me so I can see if 75% is possible. We have a no hassle quick close Hard Money product. |
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uca741
267 Posts |
Posted - 05/11/2008 : 6:15:10 PM
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quote:
Originally posted by AH0215
This person owns a Stripmail 16 units, 4 units are vacant, and he owes 3,600,000 and the purchase price was 5.8 million. The new loan amount will be 4,350,000 Million, 75% LTV/CLTV, full doc. Cashout Refinance. Fico is 600, let me know. Thanks!
If you haven't found a lender yet please give me a call. we can close in 5 days if the information rates are 8-11% 3-6 pts let me know
lvlnpro@gmail.com
We are direct to sellers of CMO at deep discount.
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