Florida motel 60% ltv
Need a Funder or Vendor? START HERE

Results 1 to 2 of 2

Threaded View

  1. 05-16-2018, 10:01 PM #1
    CFSCCorp
    CFSCCorp is offline
    Senior Member Reputation points: 1232
    Join Date
    Jan 2017
    Posts
    116

    Florida motel 60% ltv

    > State: FL
    > Property: Motel - 21 Units (non-flagged)
    > Loan Type: Refi-Cash Out
    > Credit Score: 760
    > Income: Returns not filed for 16 or 17 - Need true No Doc, ( Roll & Operating Statement available. )
    > Occupancy%: 100% occupied.
    > Purchased: for 325k in 2016
    > Current Mtg: Free&Clear
    > Occupancy: Owner-Operator Occupied
    > Loan Amount $279,000 / LTV 60% (Appraised 465k)
    > Objective: 12-36months I/O hard money bridge

    Suggestions? Should be simple but getting back-lash on borrower purchasing the property in 2016, not enough seasoning to lend 60-65% off of current appraisal value. Need no seasoning requirement. True No-Doc. 60-65% ltv.
    Last edited by CFSCCorp; 05-16-2018 at 10:03 PM.
    Reply With Quote Reply With Quote

Similar Threads

  1. Private lender or anyone that can go this high..owns Motel Chain does 44mill a year
    By Sachip24 in forum Deal Bin
    Replies: 5
    Last Post: 04-12-2018, 01:57 AM
  2. Florida
    By MCAVeteran in forum Merchant Cash Advance
    Replies: 8
    Last Post: 11-09-2017, 09:21 AM
  3. Real Estate in Florida
    By Jstarr in forum Deal Bin
    Replies: 1
    Last Post: 08-03-2017, 10:13 AM
  4. MOtel looking for 250k at bank rates
    By skideeppow in forum Deal Bin
    Replies: 3
    Last Post: 07-16-2016, 04:17 PM
  5. ISO's In South Florida???
    By MrLynch in forum Merchant Cash Advance
    Replies: 6
    Last Post: 08-14-2014, 12:02 PM


Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

Forum Rules



INDUSTRY ANNOUNCEMENTS
Blue Owl Capital acquires Atalaya
Kansas added to disclosure service tool
FIS launches SMB digital lending

DIRECTORY