Hard money / sfr / non-owner / natural person
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  1. #1
    Senior Member Reputation points: 1232
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    Hard money / sfr / non-owner / natural person

    Scenario:

    **HARD MONEY:**
    PV: 400k
    Loan Amount: 200k (property free and clear)
    LTV: 50%-60%
    Property Type: SFR
    Occupancy: Nonowner
    Income: Stated / no doc
    credit: 600+
    use of funds: upgrade / renovate
    exit strategy: selling in 2yrs or less


    vesting: natural person's name, not entity

    Looking for at least 2 years +

  2. #2
    Senior Member Reputation points: 4567 NickHubbard's Avatar
    Join Date
    Jun 2015
    Location
    Saint Louis, Mo
    Posts
    329

    Property Location?
    Nick Hubbard
    Senior Loan Advisor
    314-252-0299 - Office
    314-885-2262 - Direct
    nick@elitefactoring.com
    www.elitefactoring.com

  3. #3
    Senior Member Reputation points: 1232
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    Jan 2017
    Posts
    116

    NJ

  4. #4
    Senior Member Reputation points: 34509 Jstarr's Avatar
    Join Date
    Nov 2014
    Location
    South Florida
    Posts
    840

    Yes, I can do NJ - no i will not vest in individual name, DODD Frank issues.
    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



  5. #5
    Senior Member Reputation points: 7360
    Join Date
    Aug 2015
    Location
    Boulder, CO
    Posts
    755

    From what you describe above, it sounds like it fits within our wheelhouse.

    Let me know if you would like to discuss.

    Best,

    Dan Page
    Boulder Equity Partners
    Direct: (303) 938-8280
    dan@boulderequitypartners.com

  6. #6
    I funded a deal (with one of our external lenders) similar to this in Maryland less a week ago. Owner had $150k loan outstanding and value of $315k. FICO was well below what you have. Deal had a very low rate and owner had the option of a 2 or 3 year loan (chose two year loan as he wants to sell in 2 years as well). Took about a week to fund! Let me know if you want to discuss further.

    Steven Safirstein
    Vice President of Sales & Head of ISO Relations
    Breakout Capital Finance, LLC
    6862 Elm Street, Suite 300, McLean, VA 22101
    O: 703 852 6013 I steven@breakoutfinance.com
    Last edited by ssafirstein; 10-19-2017 at 12:31 PM.

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