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brokerdanob
200 Posts |
 Posted - 05/29/2008 : 11:54:41 AM
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| I have a developement with 45 units and 12 contracts. These units will be put in a rental pool. The property has a great history of rental cash flow. None of the conforming lenders will touch these although Cwide did one last year and recently declared the project ineligible. 3 units have closed in the last 18 months with one being a cash sale. All borrowers have credit above 700. It's looking like I need some private money or a condo tel lender. Any one have any ideas? Developer is open to any suggestions. |
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brokerdanob
200 Posts |
Posted - 05/29/2008 : 12:13:28 PM
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| Developer will even agree to buy back the loans if the do not perform. |
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brokerdanob
200 Posts |
Posted - 05/29/2008 : 1:16:32 PM
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| btt |
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