[NickHubbard]

Hey Guys

Does anybody know a lender that does 2nd positions?

Looking for max LTV!


-Multi Family Residential Property / Value is $1.6M / over $1M in equity in property

-1st position balance of around $500K

-Borrowers runs business out of property, but does not live there

-Business annual gross revenue is around $640K

-600+ credit score

[TedFundy]

We can do this all day. Rates may be a bit higher than hard money lender but we can get it done in days not weeks. Also, we can do a LOC or interest only loan. Whatever the client wants.

PM sent.

[Anthony@WBL]

Nick,

This sounds like a deal for us, considering our new lower rates.

Best,

Anthony DeLeonardo
Vice President | Regional Wholesale Manager


Direct: (646)880-8035
Fax: (551)267-6714
Email: adeleonardo@wbl.com

[B2csp]

Am i the only one who sees "2nd position bridge loan"? which means you guys are saying you would have no problem getting behind someone else's lien on a 1.6MM property?

[dpFund]

Hey Nick,

I cannot do a second position, but may be able to do better. Assuming the numbers work, I can refi the first mortgage and provide cash out, probably somewhere in the $500k cash out area, depending upon the variables of the deal. If it is truly a multi family property that has a number of rentals that are generating income, it should not be an issue that the owner runs a business out of there.

In addition to all the other stuff we are doing in the industry, I am quietly funding a LOT of real estate. I have $9.3MM of deals that are on track to fund this month, with another $23MM coming up behind it for next month.

If you're interested, feel free to check out my real estate funding site: http://boulderequitypartners.com/

Happy to brainstorm with you about this client if you like.

Best,

Dan Page
Direct: (303) 938-8280