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02-13-2018, 02:23 PM #1
- Join Date
- Jan 2017
- Posts
- 116
LAND DEAL / 40% LTV / MARYLAND - need true NO DOC
State: Maryland
Loan Type: Refi-Cash Out
Property Type: Land (Raw - Water and Sewer in progress)
Appraisal Value: 1.6M
Mortgage Balance: Free and Clear
Loan Amount: 650k (flexible on ln amt) -- Can be 12mo, 24mo bridge.
LTV: 40%
Credit: 640
Keep hitting road-block with private/hard money asking for returns ---borrower still working with accountant on 2016, etc. Looking for straight NO DOC / HARD MONEY BRIDGE.
Recommendations on private/hard money lender(s)?
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02-13-2018, 02:29 PM #2
If it wasnt raw land i would look at it, problem is most of us lenders have alot of land that have become non performing notes that we cant give away - in fact we have an entire subdivision in north florida that we've been sitting on for at least 2 years.
I have several friends in Maryland that i could mention it too, if there is any interest ill let you know.
does it have any enviromential issues, or deed restrictions?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
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02-13-2018, 04:31 PM #3
- Join Date
- Feb 2014
- Location
- Florida
- Posts
- 266
Have you tried Riverdale Funding?
Shannon Harris
Funding Specialist
888-705-8818 phone
239-790-2664 fax
Shannon@StellarBusinessFunding.com
www.stellarbusinessfunding.com
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02-13-2018, 05:37 PM #4
- Join Date
- Jul 2014
- Location
- Jackson Hole Wy
- Posts
- 730
I have some contacts in Maryland. Contact me if you want assistance and yes I am broker in this deal but have funded land deals before. Ben bzuniga@omegafund.com
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