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clarenceworley
4039 Posts |
 Posted - 08/05/2008 : 07:27:36 AM
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Got a restaurant owner who has a property which currently appraises for 1.4 million in N jersey and he owes 200k, wants additional line of credit for 600k for a short term construction loan-has a take out loan secured.
Owned restaurant previously, re-bought from owners who ran it in the ground. Can doc income, assets with partner. Significant restaurant experience.
Wants to close fast. any suggestions? |
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HMDApproved
684 Posts |
Posted - 08/05/2008 : 08:09:20 AM
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| You have mail |
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joe313
638 Posts |
Posted - 08/05/2008 : 08:15:58 AM
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Michael,
We're right in Paramus, and this sounds like something I would want to lend on. I'm guessing that the $600k will increase the value of the property. This would be hard money. Call or e-mail me and we can discuss it further.
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clarenceworley
4039 Posts |
Posted - 08/05/2008 : 08:21:18 AM
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| Thanks for the replies! |
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ComLender
1266 Posts |
Posted - 08/05/2008 : 10:36:15 AM
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| Could potentially do construction to perm. |
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joseph@ajtm
61 Posts |
Posted - 08/05/2008 : 12:27:58 PM
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We would be interested in your loan. We still have some aggressive funding programs available when others are tightening their lending conditions. We can do 90%CLTV on all of our programs and can provide 90% LTV on Owner Occupied.
We are looking at anything commercial that makes sense. We also have a great training program available for the residential professional looking to make the move to commercial. We could provide a rate as low as 6.5% .We provide financing nationwide for all types of commercial property. Business loans with or without real estate. Prime rates and Hard Money available, New Construction. All property types considered. Stated programs available. Email me a summary or contact me at the number below.
Joseph Tomasi
New Business Dev. Officer
A.J.T.M. Financial Group, LLC.
877-229-8880 ext.02
561-431-6433 Fax
joseph@ajtmfinancial.com
www.ajtmfinancial.com |
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