Through our company SanMagAcquisitions.com, we buy, fix and refinance REO and distressed apartment buildings for long term hold in our portfolio.
Our purchase criteria and LTV is always 65% or less of ARV, including repairs. Since we keep properties in our portfolio and refinance this properties once repairs are completed, we don't depend on finding buyers to cash out our investors/lenders.
Investors/lenders funds are secured by a first position Trust deed (always) and we pay 10% and up in interest only to our investors. The average loan term is 24-60 months.
If interested in receiving executive summary with financial analysis and other pertinent information on any of our acquisition opportunities, please email me at info@SanMagAcquisitions.com to be included in our data base of investors/lenders.
We prefer to deal with private/individual investors who can pull the trigger fast on these deals, since a fast all cash closing is one of our best weapons to acquire these properties at bargain prices. However, if your organization have a stream lined process with minimum red tape, please feel free to email us as well.
Please feel free to visit our website www.SanMagAcquisitions.com if you would like to learn more about our acquisition criteria and process.
Your end buyers will need funding. We can help with that.
I'm a strategic referral partner with NYC Commercial Funding Conduit which provides recourse and non-recourse commercial funding from 100k to no upper limit.
My role is to send out loan worksheets which need to be completely and accurately filled out by borrowers and get these to the NYC analyst team for a full funding proposal. When the worksheet is returned we then send out a preliminary funding offer. If it is satisfactory we prepare our final, and official, funding offer which will include instructions as to how to wire us a fully refundable $2,500 - $5,000 retainer fee.
Notice how the borrower pays nothing until after they get the funding offer they like.
James W. Peterson