$2,475,000 Refinance Cash-Out of 70% Occupied FL Office Building, $300,000 of Renovation Funded
Terms Funded
- 12.25% Interest Only Rate
- No Tax Returns or Financials

- 12 Month Term (w/ extensions)
- Existing Appraisal Accepted
- 5% for 6 Month Prepay Penalty
- $509K of Cash-Out Funded 
- $300K for Renovations Funded
This borrower required short-term financing to complete $300,000 of tenant improvements to increase the occupancy of his 70% occupied office building. He was also looking for over $500K of unrestricted cash-out for a time sensitive investment in other real estate. The low property occupancy eliminated him from conventional and non-conforming financing, and he needed a quick and easy bridge financing program to close fast!

How this deal went down...
  1. We issued a term sheet for our bridge program within 24 hours andrequired no upfront fee. 
  2. Our term sheet was signed and we had an approval in the borrower's hands within 24 hours only requiring the following to close: title, inspection, appraisal, credit report, leases, corporate docs and renovation budget.
  3. The borrower signed the approval, paid only a $2,500 site inspection and due diligence fee and we accepted his 7 month old existing appraisal saving him tons of time and money.
  4. A satisfactory inspection was conducted the next day, the borrower sent in the outstanding conditions and we were clear-to-close 9 days after the signed approval was first received. 
No Upfront Fees | < 24 Hour Term Sheets | 5 Minute Online Application
demetrius@tavaughncapitaladvisors.com

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