Looking for money to complete multi-family property purchase

Purchase price of this 16 family unit is $1M USD
Seeking up to 80% of this in either private money or hard money
Will accept a joint venture partner
Apartment is in a thriving area of Orlando, Florida
100% occupied and very low tenancy turnover
Currently cash-flows very well
Well maintained and little to no deferred maintenance on this property
Looking to close this property out in November
The value of this property is expected to increase due to its location and the improvements that are in development

Please be specific on what you can offer as a lender, your terms and conditions and the amount of documentation required.

Thank you

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Replies to This Discussion

Permalink Reply by Kenny Tshibangu on November 13, 2012 at 1:12pm

has $4Billion available to lend

and is ready to loan on your project now!

The 4 Terms

1. 14% Interest rate per year.

A. This is a pro-rated rate.

B. Example:

If your loan only extended 6 months, you would then only pay 7%

2. 5% Origination fee

A. This is due at close

B. Both the 14% and the 5% can be taken out of the loan proceeds.

3. Loan Review Fee/ Appraisal Fee

A. These are wrapped up into 1 fee ranging on average from 100k-150k

(If the lender has to appraise a gold mine with “in-ground assets” it could be from 150k - 200k+)

B. They always have this fee on every deal they do, because everything must be appraised and reviewed.

C. The reason for this is because the lender does not lend solely on people’s credit score, or if they have had a bankruptcy. The lender is more interested about the asset or the project.

D. THESE FEES ARE NOT UP FRONT!!! But the fees must be paid to the lender before the loan is funded.

E. They first have to make sure you qualify for a loan with them (only 2% of everyone that asks for a loan will even get to this stage). After you qualify, you must receive an LOI (Letter Of Intent) from the lender. This is NOT an LOC (Letter Of Commitment). A Letter Of Intent – Tells you what we intend to do. Then they give you references of people that you may check up on them. After this when you feel comfortable, it is then you pay the “Loan Review Fee” to the lender.

4. 50%LTV

A. This is on Gold, Diamonds, Real-estate, or anything you have.

B. They MUST have 50% collateral on almost every project the lender does a loan for.

C. They will do 95% on an SBLC or a BG.

But almost everything else 50%LTV

D. Example:

If you give the lender $10Million in assets they can give you a $5Million Loan.

All loans last for 1 year and are written up for that. But if your 14% is paid up for the year, then after a review there can be an extension to the next year. And so on every year after, for as long as you need it and the board approves it. You can have it for 50years or 100years if you want.

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Permalink Reply by Stephen Mitchell on November 13, 2012 at 2:17pm

Mr. Nicotera

I can secure financing, the following terms:

Non-Owner Occupied Rental Deals:

- Acquisition of a Single Family, Duplex, Triplex or Quad
- Property MUST be titled in corporate name
- $50k up to $500M
- LTV up to 70%
- Rates typically 9.50% – 9.75%
- Fixed 2, 3, & 5 year terms
- 25 year amortization
- credit scores as low as 600

I need last two yrs Tax returns Business/Personal

Financial Statement

Thanks

Stephen Mitchell

AMCKA Property Investments, LLC

stephen.l.mitchell@gmail.com

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Permalink Reply by Don lango Sr on November 14, 2012 at 5:19am

Joseph we have several programs available please send me a summary

Thank You

Don Lango Sr

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Permalink Reply by James Carroll on November 15, 2012 at 11:17am

Indiana Business Finance is comprised of hedge funds, private equity groups, and private investors. Our funding source lends/ provides JV equity on any commercial real estate deals here in the U.S. from 250K to 5B.

Outside the U.S. deals must be 5M and up seeking funding. Along with commercial real estate, multi-family our funding source love oil/gas deals, gold/silver/coal mining deals, and some residential. On the equity side our members will only provide JV equity on cash flowing deals preferably hotel, trophy properties, mixed use, multifamily, office and industrial.

Give you an example of what IBF can do for you look over the following offer: A. $2M loan with a minimum of $200K, no repayment and fixed interest rate at 3.625% or 4.620%. Payments are interest only, depending on the term. (This does not include negotiable points)

James Carroll

Small Business Funding Expert

http://www.myibf.com/

Funding Today's Small Businesses up to $150,000 in 15 Days

(765) 271- 5665 (Direct)

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Permalink Reply by Joseph Nicotera on November 18, 2012 at 12:31pm

Per our partner policy, could you complete a confidentiality agreement so I can send you the required information?

Best Regards,
Joe

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Permalink Reply by Joseph Nicotera on November 18, 2012 at 12:33pm

Per our partner policy, could you complete a confidentiality agreement so I can send you the required information?

Best Regards,
Joe

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Permalink Reply by Butch Wells on November 18, 2012 at 10:54pm

Hi ,
If you have investors needing funds have them check out:
http://pmbintl.com/altarasenita , click Borrow Info > and fill
in the application. After you submit the app you will be
contacted. If you have other concerns let me know and I
will help you further. Call me (855) 702-LOAN (5626). PMBI
is very competitive on rates and terms, interest only loans.
And rapid turn around time!!
Your Friend in Real Estate,
Butch

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Permalink Reply by William McKissock on December 12, 2012 at 9:32am

Joseph:

Lgreen Capital LLC is a group of 100+ HNW and Family Office principals who share deals and invest in Commercial Real Estate (and other asset classes). I facilitate the introduction of your opportunity to the Member Platform by way of a Deal Submission Template after we discuss on the phone and exchange NDAs. If a member is interested, you and he/she transact directly. Lgreen shares a percentage of any profits after return of capital with Lgreen principals.

If you would like to pursue working with us, please let me know.

Thank you,

William McKissock

wmckissock@lgreencapital.com

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Permalink Reply by Phoenix Capital Funding Group on January 3, 2013 at 7:36am

Joseph,

Here is my program if interested:

Loan Amount: $500,000 to $3,000,000

Loan To Value: 50% to 60% (Acquisitions and Construction)

Loan To Value: Up to 70% (Refi)

LTC: 90%-95% Max.

Length: 12 ,18 ,24,36 or 48 Months

Low Rates!

Interest Only Payments.

Projects: Acquisitions,Rehab, Refinancing and Construction.

1st Lein Position Mortgage.

US ONLY!

Closing: 30-60 days after we receive all required documents and Due Diligence is complete.

Cash Required: 5%-10% for all acquisition and construction projects ( see below)

No Upfront Fees!

Soft Proof of Funds Required. (Acquisition and Construction)

Our process is simple:

1) We will issue a commitment to fund if we are interested in moving forward. After which 5% to 10% of loan amount will be required as a down payment. This can be put into a third party escrow account.

2) You will then receive a list of required items needed to close. Everything will be handled by our attorney expeditiously.

3) After all items required to close have been received, we then schedule a closing through our attorney and yours. The 5% to 10% will be due on or before the scheduled closing date.

4) Again this program has been set up for serious borrowers who understand private funding. Since we charge nothing upfront, applicants will need to bring some "skin" to be considered.

5) Now offering a rate buy down! If you have more cash to apply towards funding, you can receive a lower rate!

Brokers are always welcome and protected. Brokers receive anywhere from 1/2 point up to 1 point. maximum for every referred project that closes depending on the loan amount.

Submit your projects at: http://www.pcfgbridgemoney.org