| Author |
Previous Topic | Next Topic |
|
caligirltt
728 Posts |
 Posted - 05/18/2008 : 2:01:02 PM
|
Can a Corporation buy a SFR?? And if yes...how???
thanks! |
|
coopercash
2744 Posts |
Posted - 05/18/2008 : 2:12:37 PM
|
In principle, an S or C Corp or an LLC or LLP can mortgage finance a SFR IF you can find a lender agreeable to such a transaction. However, even though Title may be in the corporate name as might the Note you can be certain that the Principals of the Corporate entity will be named on the Note as personal guarantors.
Investors frequently secure financing for NOO properties using the above strategy. |
|
|
caligirltt
728 Posts |
Posted - 05/19/2008 : 08:41:08 AM
|
Is this all anyone knows aboaut this?
thanks! |
|
|
caligirltt
728 Posts |
Posted - 05/21/2008 : 11:24:49 AM
|
| bumb |
|
|
Quicksilver
4850 Posts |
Posted - 05/21/2008 : 12:21:35 PM
|
The problem is the lenders that did in past, are not around anymore, and the banking institutions that do (or say they do), only Wachovia am I seeing actually do some but they've gotten a lot stricter. I know some wealthy people/investors here that when talking with them this was brought up and they pretty much can't secure financing anymore in corp, llc etc. Some of the private institutions like BNY I think will but the catch is you better have a ton of liquid assets with them, they love managing assets and will make some pretty crazy exceptions if they can. In the past some did so with no personal liability, but now as Richard said they will require the people to still be personal guarantors from what I'm seeing which kinda negates holding in an entity as they will still have liability. You can thank all the new investors" who were getting non-recourse debt for investment purposes and then walking away and claiming bk for the entity, along with builders whom banks gave non-recourse debt to as they were anxious to get a slice of the boom.
I remember my mother almost bought a house here that was owned by Toyota Corp. I can't remember but the guy was VP or something with them, and they bought his family a gorgeous house here. |
|
|
swmsn
4205 Posts |
Posted - 05/21/2008 : 12:41:35 PM
|
I also know that just as this is difficult now for you to find imagine how it is when they go to Refinance.
Some local banks to that area may help as well. You would need to get a fee agreement signed and shop to help them.
|
|
|
caligirltt
728 Posts |
Posted - 05/22/2008 : 09:14:37 AM
|
| really, I don't need to make commission on it. Our office is also selling the property. We just need a loan and that is how that want to do it. I told the client I would research it to see what we can come up with. So if there is anyone who knows how to do this, whether they work with brokers or not please let me know. I would also be interested in referring the file to someone |
|
|
ccbank
1351 Posts |
Posted - 05/22/2008 : 11:02:14 AM
|
| If in California we will consider it but, it won't be cheap. |
|
|
caligirltt
728 Posts |
Posted - 05/22/2008 : 3:17:21 PM
|
wont be cheap, as far as upfront fees? Rates?
What do you require down?
thanks |
|
|
caligirltt
728 Posts |
Posted - 05/27/2008 : 12:37:04 PM
|
anyone else that knows anything about this??
thanks!! |
|
|
EMScommercial
5141 Posts |
Posted - 05/27/2008 : 12:57:22 PM
|
Stacy... what will this SFR be used for?....
Unless it has DIRECT use for the business, chances are - there will have to be a personal guarantor from one or more of the corporate principals.....
How strong does the company look?
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 receive your submission and an account managers will be assigned. Within one business day you will be contacted - starting 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... |
|
|
| |
Previous Topic | Next Topic |
|
Search for: 
