Fix & Flip Funding Request - Real Estate Finance2024-03-29T07:29:08Zhttps://realestatefinance.ning.com/forum/topics/fix-flip-funding-request?commentId=6517464%3AComment%3A313317&x=1&feed=yes&xn_auth=noBelow is my direct Private Le…tag:realestatefinance.ning.com,2017-12-11:6517464:Comment:3133172017-12-11T00:06:53.450ZDon Carterhttps://realestatefinance.ning.com/profile/DonCarter
<p><span>Below is my direct Private Lender and below is an overview of their</span><br></br><span>lending program:</span><br></br><br></br><span>Here is my lenders overview:</span><br></br><br></br><span>*Loan size:$350,000-$20MM+</span><br></br><span>*Collateral Location:Nationwide(Focus is in NY,FL,NJ,CT and PA</span><br></br><span>*Collateral Types:All RE considered</span><br></br><span>*Security:1st Mortgage Lien</span><br></br><span>*Loan to Value:Up to 65%</span><br></br><span>*Exit Fee:None</span><br></br><span>*Interest…</span></p>
<p><span>Below is my direct Private Lender and below is an overview of their</span><br/><span>lending program:</span><br/><br/><span>Here is my lenders overview:</span><br/><br/><span>*Loan size:$350,000-$20MM+</span><br/><span>*Collateral Location:Nationwide(Focus is in NY,FL,NJ,CT and PA</span><br/><span>*Collateral Types:All RE considered</span><br/><span>*Security:1st Mortgage Lien</span><br/><span>*Loan to Value:Up to 65%</span><br/><span>*Exit Fee:None</span><br/><span>*Interest Rate:Starting @8.99%</span><br/><span>*Term:6mos-3Yrs</span><br/><span>*Amoritization:Interest Only</span><br/><span>*Recourse-Generally required</span><br/><span>*Origination Fee:1%</span><br/><span>*Funding in 1-2 weeks</span><br/><br/><br/><span> The specific collateral we would lend against is non-owner occupied</span><br/><span>residential and for commercial it’s retail, offices, flagged hotels,</span><br/><span>multi-family and mixed-use. We also consider land and ground-up</span><br/><span>construction deals when they are located within a major market.</span><br/><br/><span>The specific information we need in order to properly consider a deal</span><br/><span>is the following:</span><br/><br/><span>What is the address and description of the asset to be used as collateral?</span><br/><span>How much does the borrower need to borrow and what will it be used for?</span><br/><span>How will our loan be paid back?</span><br/><span>How come a bridge loan is needed versus a conventional loan?</span><br/><span>Is the asset owner occupied?</span><br/><span>If the deal is an acquisition, is the purchase in contract and for how much?</span><br/><span>If there is an existing appraisal, please share it</span><br/><span>If the asset is rented, what is the occupancy or vacancy rate?</span><br/><span>If there is an operating memo or income/expense statement, please share it</span><br/><br/><br/><span>Don Carter</span><br/><span>Facilitator to Lender</span><br/><span>Cell:803-814-8152</span><br/><a href="mailto:E-mail%3Adonmoneybiz@gmail.com">E-mail:donmoneybiz@gmail.com</a></p>