Hey all, my name is Antwan Lee.
I have a client here in the Seattle area that is looking to refinance a retail strip mall property in Lake City, which is 10 minutes from Seattle. Most of my brokering is hard or private money bridge loans so I do not have a good option to help him because this customer, who I have assisted on residential investments before, has a 793 Experian score and he has a pretty low debt ratio. He owns 3 commercial properties and will not take hard money rates or points again, although he has in the past. He said he wants to continue to work with me but only at lower rates. Nice guy but he knows what he can get, just wants to give me first shot at it. He did a hard money refi with me last year but has already paid that property off and will not take that type of rate again.
Based on similar properties within 3 miles, his commercial strip is worth right around $3,2M. He owes $370k and wants to do a refinance to put cash in his hand to use for down payment on a new house for his family. Looking for a loan amount of $900k or so. His current rate is in the high 4's. He says he is ok with going up to maybe 6% to get this done.
This guy is worth $6M but it is almost all tied up in real estate so this money will help him out with moving to a new house this winter. Good cash flow, not much debt for what he owns. This should be easy but I do not have contacts that are not hard money.
He probably won't do a multi-broker situation so I am really looking for advice on which company to broker to for lower commercial rates.
If you don't mind pointing me in the right direct I could use the help.
Have a blessed morning.
Send me a message when you have a moment. I’m happy to help.
Shoot me an email at firstname.lastname@example.org. Happy to give you a few freebies,
I just checked out your website. When I have an opportunity in a state where you lend, I will get in touch with you. Looks like you have lower rates than most right now.
I believe you have my number. Feel free to call or text. I have done a couple six figure commercial deals for good credit investors this year. I can point you in the right direction if you still need help.
I am following this discussion as well. I would really like to know what commercial lenders are offering six and low seven figure lower interest rate loans at this time?
My name is Shaun Tollman. My email is email@example.com. I can help if you would like to message me either on this site or to that email address. I have 3 lenders I can discuss with you.
I am a newer Mtg. Broker and saw your comment here. I saw your email address and have just sent you a few questions about lenders as well. I hope that is ok?
This lender is private money but says they close fast. It appears they cover many states and have some nice options. Has anyone heard of this company?
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