$8,250,000 Funding Request for 100 acres land in Georgia
Need a Funder or Vendor? START HERE

Results 1 to 12 of 12
  1. #1
    Member Reputation points: 18
    Join Date
    Dec 2016
    Location
    New York
    Posts
    30

    $8,250,000 Funding Request for 100 acres land in Georgia

    We are principals and looking for a private investor lender with capacity and desire to lend and invest in a development project in Georgia.

    USE OF FUNDS:

    Property Acquisition: $8,250,000

    Loan Amount Request: $8,250,000

    Current Appraised Value: $15,000,000

    Estimated Future Appraised Value: $20,000,000

    ********************************************

    LOAN STRUCTURE terms and conditions desired and acceptable by borrower:

    55% LTV loan to Value ($8,250,000)

    Interest rate: 8% to 12%

    Term: 12 months to 24 months

    Lender Points: 2 to 5 points

    Broker Fee: 1 to 2 points

    ********************************************

    PREFERRED TERMS:

    The company is in start-up phase so we are requesting true Asset Based Funding:

    * No minimum credit score
    * No personal financials
    * No tax returns
    * Non-recourse funding

    * The property will be purchased in an LLC.
    * There are no bankruptcy or foreclosures on the principals.

    ********************************************

    SPECIAL STIPULATIONS:

    * All points and fees deducted from loan amount given by lender at closing

    * No prepayment penalty

    * 1st lien position for lenders

    * Lenders accept all current due diligence: appraisal, current title search, property inspection.

    * Down payment by borrower

    ********************************************

    COLLATERAL / REMEDIES:

    * 1st Lien Position - 1st priority for payment and enforceable 1st lien in case of foreclosure

    * Business Income Insurance - To guarantee repayment in case of loss of business income

    * General Liability Insurance - To protect the business and principals from 3rd party claims

    * Builders Risk and Installation Insurance - To guarantee completion of the project in case of a catastrophe

    ********************************************

    EXIT STRATEGIES:

    * Refinance the property / cash-out immediately after closing.

    * Resell the property for profit.

    * Pay off loan with revenues and net profits from existing ventures

  2. #2
    Give me a call 888-820-0720 ext 702 mark at whizfunds I have the private source your looking for .

  3. #3
    Senior Member Reputation points: 18402
    Join Date
    Apr 2014
    Posts
    781

    Gmail not allowed when advertising services Mr 1st posterererer

  4. #4
    Administrator Reputation points: 55342 admin's Avatar
    Join Date
    Jul 2012
    Posts
    634

    Quote Originally Posted by golf2014 View Post
    Gmail not allowed when advertising services Mr 1st posterererer
    What this guy ^ said

  5. #5
    Member Reputation points: 10
    Join Date
    Apr 2017
    Location
    Buffalo, NY
    Posts
    5

    Has an appraisal recently been ordered on the property? I would like to look at it before knowing if it's a deal I'd fund. Please send it and any other supporting documents to rj@valmarfunding.com

  6. #6
    Senior Member Reputation points: 34509 Jstarr's Avatar
    Join Date
    Nov 2014
    Location
    South Florida
    Posts
    840

    I see deals like this all day and throw them away, i call them " Clown Deals " - that's because somebody has this grandiose idea and they're looking for an investor to fund the entire deal - And hes asking for NOn recourse so that translates to I dont have any " Skin" in the game,

    This deal isn't doable by any means - lets just point out 2 red flag's, and you new guys on here trying to pose as lenders take note.



    1) of all the demand's are ridiculous, i wouldn't accept " diligence" from anyone especially when the loan amount is $8M, neither will anyone else.

    2nd - Points and fees come from proceeds - this tells me the guy doesn't have any skin in the game, Or any Reserves.

    This is a bad deal, the first reason is that its land ,so unless he has some other real estate to leverage, neither myself or any other " Real Estate" lender would touch it.

    And this one takes the cake: we fund deals all the time without returns or weighing the risk on the Fico, but this Guy,

    * No minimum credit score
    * No personal financials - Your asking for $8MM, Of course i want to see your financials
    * No tax returns - That tells me you didn't file or you make less that what you want me to believe.
    * Non-recourse funding - Oh so you want all the risk to be on the lender since you don't have any skin in the game.

    BAD DEAL ---- DEAD.
    Last edited by Jstarr; 04-30-2017 at 11:23 PM.
    Jerry Starr
    Insource Funding
    433 Plaza Real,
    Boca Raton, Fl 33432
    P: 800-805-3391 Fx: 561-270-6895
    insourcefunding.net

    WHAT WOULD YOU DO " IF " YOU HAD THE CAPITAL

    ◆ 50% LTV - No Fico Required
    ◆ 90% CLTV on Purchases
    ◆ Investment Residential / Commercial Properties



  7. #7
    Senior Member Reputation points: 34509 Jstarr's Avatar
    Join Date
    Nov 2014
    Location
    South Florida
    Posts
    840

    MRjames, you obviously don't understand what your looking at - this is a BAD DEAL... I wouldnt lend on this deal and neither will anyone else.

    Quote Originally Posted by mrjames View Post
    Give me a call 888-820-0720 ext 702 mark at whizfunds I have the private source your looking for .
    Jerry Starr
    Insource Funding
    433 Plaza Real,
    Boca Raton, Fl 33432
    P: 800-805-3391 Fx: 561-270-6895
    insourcefunding.net

    WHAT WOULD YOU DO " IF " YOU HAD THE CAPITAL

    ◆ 50% LTV - No Fico Required
    ◆ 90% CLTV on Purchases
    ◆ Investment Residential / Commercial Properties



  8. #8
    I have a 100 % financing 6 % 10 year term payable quarterly senior construction debt mark 888-820-0720 ext 702

  9. #9
    I know this and these things just because they are asking for it their way does not mean they will get it !

  10. #10
    Senior Member Reputation points: 34509 Jstarr's Avatar
    Join Date
    Nov 2014
    Location
    South Florida
    Posts
    840

    So when i looked at your website, it says Immigration Visas, How does that translate to a lender that is offering 100% financing ?

    https://www.visasagency.com/


    Quote Originally Posted by mrjames View Post
    I have a 100 % financing 6 % 10 year term payable quarterly senior construction debt mark 888-820-0720 ext 702
    Jerry Starr
    Insource Funding
    433 Plaza Real,
    Boca Raton, Fl 33432
    P: 800-805-3391 Fx: 561-270-6895
    insourcefunding.net

    WHAT WOULD YOU DO " IF " YOU HAD THE CAPITAL

    ◆ 50% LTV - No Fico Required
    ◆ 90% CLTV on Purchases
    ◆ Investment Residential / Commercial Properties



  11. #11
    Senior Member Reputation points: 5110 LJH365's Avatar
    Join Date
    May 2014
    Location
    NY, NY
    Posts
    165

    Quote Originally Posted by jstarr View Post
    so when i looked at your website, it says immigration visas, how does that translate to a lender that is offering 100% financing ?

    https://www.visasagency.com/
    lol.
    Sean Hawley
    CEO
    Bright Light Funding
    Bright Light Freight
    shawley@brightlightfunding.com.com
    631-827-3847
    Term Loans, LOC, MCA (focus on Transportation & Trucking)

  12. #12
    Call Lorraine at 765.517.0975.

    Lorraine McNair - COO
    MoveAhead Financial
    2114 E Blvd
    Kokomo, IN 46952
    lorraine@moveaheadfin.com
    www.moveaheadfin.com
    765.517.0975

Similar Threads

  1. $100k Request for Attorney
    By Plousio in forum Business Loans
    Replies: 3
    Last Post: 09-14-2016, 02:24 PM
  2. Replies: 3
    Last Post: 08-26-2016, 07:56 AM
  3. Jumbo Loan Request
    By D360 in forum All Other Lending
    Replies: 1
    Last Post: 09-15-2015, 10:15 PM
  4. Replies: 7
    Last Post: 06-22-2015, 01:33 PM
  5. Texas & Georgia Deals
    By CherelleSOS in forum Merchant Cash Advance
    Replies: 0
    Last Post: 12-17-2014, 11:20 AM


Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  


INDUSTRY ANNOUNCEMENTS

Lendica partners w/ EBizCharge
Pipe plans to fund $1B to SMBs
URBN partners with Stripe


DIRECTORY