Must be in a HOT Market!!
Florida, Texas, Ohio, Illinois, California or New York and other markets considered on Case-by-Case basis, must be Hot!
Lenders are aggressive with: Commercial, Multi-Family only or 1-4 unit Fix and Flip.
Lenders will only work with well-qualified investors with experience, You must cover the closing costs, have a 660 Fico and 6 months reserves, plus verified experience.
Ground-up is OK, Fix and Flip OK, Repositioning OK, Major Rehab OK
$10,000,000 Max on the 1st deal.
If you are finding great (cheap) deals in your local (hot) market and you can’t find anyone to finance these properties, contact us, we can!
Better to use business entity. (LLC, INC) They prefer you to be in contract when you apply. Costs to start doing business is $299 for underwriting the file and gets you a term sheet, then $450 for appraisal,
Luxury Properties are OK !
Spec Developments with Approved Permits/Plans (Shovel Ready) 80-85% LTC, 9.5%, We can then Refinance you into a 5.5-6.5% rate construction loan for 12-24 months! (Select markets) Southern California, Atlanta, Philadelphia, Some parts of DC.