Category Archives: Uncategorized

Unbelievable Low Rates for Private-Hard Money Loans

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Earlier today, one of my wholesalers sent me this memo on Hard Money-Private Money loans…these are the lowest that many of us have ever seen for hard money….so if you are in need of someone that needs a loan like this…or know of someone, please get in contact with me…as this “special” has a limited time frame. Here it is:

……… is running a 2-Week Special with rates in the 7-9% range on Hard-Money. The special applies to SFR’s, Townhomes, Condos, and 2-4 Units, as well as some 5+ Units . This special makes sense for a huge number of borrowers so get your submissions in ASAP.

Our current wholesale submission requirements are as follows. We will respond with a written approval within 24 hours but usually before the end of the business day:
• Submission Form (see attached)
• 1003
• Credit Report
• Purchase Contract (if applicable)
• Current Rent Roll (Multi-Family 5+ Units)

This is about as easy as it gets….and now we are getting these rates on a national scale….literally doing business nationally, thanks to the web.

 

 

Equipment Leasing

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As part of the Trade Show for the health and fitness industry, I have been presenting the various options available to clients interested in leasing gym, fitness, and health center equipment. In addition, working with our affiliates, these are the other kinds of equipment we offer:

Ethnic Food Manufacturer

Cabinetry Manufacturing

Self Storage-Mini Storage Commercial Financing

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I am frequently called to ask what is considered in order to get financing for Self Storage-Mini Storage properties. Like all commercial property, a number of factors are considered and there is no one aspect of the application that is more critical than another…all are important.

Evaluation by the lender will include the location of the property. Is it in an area that will continue to be a good area for customers to get access to; to be a safe area; and one that is in an area that is not affected by community problems. What is the history of the property? How old, what has been the traditional rental-lease pattern, and does it have a pattern of stability of tenants? What is the condition of the property? Does it show good and current maintenance…or a lot of deferred maintenance? Are the streets paved and in good condition? Are the buildings well maintained, or showing considerable management neglect? Is the security system old, or new, and if new, does it have security video, controlled gate access, and internal property safeguards, such as closed circuit cameras?

Then they look at the buyer….and all of the factors considered in a typical commercial loan application are important. Credit history, income history, experience with managing commercial income property, and overall business background are considered. What is the projected future of the business based on this borrower owning the property? All of this is included.

So, it starts with finding that right property, and when you find it, start the process of determining if you can qualifty…and give me a call.