I have a client that wants to purchase a mixed-use property in Seattle

[Shaun Tollman]

Good morning.

I have a client in Seattle that has found an off-market mixed-use property in downtown Seattle. Property was offered to him by one of his neighbors who is getting older and would rather sell this paid off property than continue to manage it.

This is in the Belltown neighborhood. Last appraisal was in Feb. 2021 for $3.8 million. It has a large storefront downstairs which is currently leased by a salon. Upstairs there are two upscale apartments. One is rented with a lease through June 2023. The other was recently remodeled and is now vacant.

My client can buy this property which is probably worth well over $4 million right now, for $3.5 million.

My client owns several free & clear rentals in Seattle and Bellevue. Total value of his real estate portfolio including his owner occ. is over $12 million. He has liens totaling less than $2 million so he is wealthy, does not mess around, and wants to make this happen. Credit is good but he has some high balances and his scores are in the mid-600's. 

I am a broker but I do not have a good lender for this due to credit scores below 680. He may take a slightly higher rate and then refinance later and we did discuss 3 year and 5 year ARM options.

Are there any lenders that can do this? Close in 6 weeks or less?

Please msg me!

Tollman

[WKL David]

Dear Sir :

Here are some highlights of CBIL Innovative Financial Alternatives Project Funding Program below: 

General Security Agreement Only: no personal or corporate guarantees, liens or mortgages
CBIL fund as debt financing or equity financing or Joint Venture (JV) partnership
Terms: 1 year, up to 30 years and grace or moratorium period available up to 2 years
Minimum funding $500k and above
Annual or Monthly interest payments
Annual interest rate of 3% with NO fees
Monthly interest rate of 2% with NO fees
All industries are considered. Real estate and non-real estate programs are available
Programs available globally
No penalty for early payoff
Funding duration is 21 - 30 days
*No Upfront Fees*

Initial documents required:

1.Fill and return back the information sheet
2.Submit a copy of your Executive Summary & Business Plan

Information Sheet ( File Attached )
Executive Summary Project Summary
Use of funds

David Lee
https://davidwkleeglobalfunding.com

[Alan Max]

We can help you with the loan you seek, please contact us at [e-mail]