[dpFund]

Thanks for your kind words everyone. Sorry I have not logged back sooner. Closing out the week with $4.5MM funded so it has been a busy one.

This is pretty straightforward Real Estate financing. With the following items I can tell you whether we have a shot at funding:

1.) Property Address
2.) Estimated value of subject property
3.) Total amount of mortgages owed
4.) Total amount of cash-out desired
5.) What the client's credit looks like

If it looks promising, THEN I ask for our application and a very specific credit link (I need a tri-merge report). Armed with that I can typically issue a term sheet.

I can fund with (almost) any type of credit (funding two right now with credit in the 500s). But the client cannot be late on the subject property mortgage. That is a deal killer.

I can fund pretty much any type of property with the exception of primary residence.

Properties do not need to be owner occupied. Most of the deals I fund are not. I just funded one this week wherein the client had 47 separate properties and we pulled some cash out of all of them so he could purchase more properties.

I do not fund 2nd or 3rd mortgage. Instead, I pay off any existing mortgages/liens and provide cash-out on top. So the deal size can get quite large, pretty fast.

The intriguing thing for a lot of brokers is that many clients are in a pickle with cash advance loans and other business issues. But they may own rental properties or other real estate we can fund against. In this case, my funding has nothing to do with their business whatsoever. I am funding the property (and the rental income derived from that property), not the business. The only time the business comes into the picture is if the property is owner occupied. Then I just need tax returns/financials to prove the client has the income to pay the mortgage.

Average turnaround is 3-4 weeks. Larger, more complex deals can take longer. Clean, straightforward ones can go quicker.

Hope this helps a little bit.

Feel free to email me.

Best,

Dan Page
Direct: (303) 938-8280
dan@BoulderEquityPartners.com