Property Management but owns the property
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  1. #1
    Senior Member Reputation points: 11553 Eagle Funding's Avatar
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    Property Management but owns the property

    Have a merchant who does property management but owns the property. 705 credit, 540K in revenue on the property management side of the business last year, and the appraised value on the commercial property is over 1M. SBA I am assuming is out the picture because of the industry type while owning the property. Merchant is looking for 160K, anyone have any idea of how to tackle this?
    Eagle Funding Group
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  2. #2
    Senior Member Reputation points: 16709
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    Quote Originally Posted by Eagle Funding View Post
    Have a merchant who does property management but owns the property. 705 credit, 540K in revenue on the property management side of the business last year, and the appraised value on the commercial property is over 1M. SBA I am assuming is out the picture because of the industry type while owning the property. Merchant is looking for 160K, anyone have any idea of how to tackle this?
    IF equity in property lots of private RE lenders would take this deal. What state? What type of property?

  3. #3
    Senior Member Reputation points: 4567 NickHubbard's Avatar
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    Either bridge loan or stated income!

    Is the property owned free n clear? If not, whats the lien balance?
    Nick Hubbard
    Senior Loan Advisor
    314-252-0299 - Office
    314-885-2262 - Direct
    nick@elitefactoring.com
    www.elitefactoring.com

  4. #4
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    Mantis has been funding the real estate brokerages and management related companies ...
    Marcus Clapman | Business Development | Cresthill Capital
    (High Commissions Payout Group)
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    Tel: 917-521-6528 | Fax: 212.671.1473
    Email: bizdev@cresthillcapital.com
    http://www.cresthillcapital.com

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