Results 1 to 4 of 4
-
05-17-2018, 07:36 PM #1
- Join Date
- Jun 2016
- Location
- Brooklyn
- Posts
- 54
Hotel looking for collateral loan / advance of 1.1 m
WE HAVE A MERCHANT THST IS LOOKING FOR A COLLETRAL BASED LOAN (HONESTLY WE DONT DO MUCH OF THAT). HE OWNS A HOTEL. HOTEL CURRENTLY UNDER RENOVATIONS. HOTEL WAS APPRAISED AT 1.4 MILLION LAST OCTOBER AS IS, AND AT 3.4 AS A BRANDED HOTEL (BEST WESTERN/HOLIDAY INN). MERCHANT HAS A 650k MORTGAGE THAT HE IS CURRENT ON. LOOKING FOR ROUGHLY 1.1M, PAYOFF CURRENT MORTGAGE AND NET 500K TO USE TOWARDS THE ONGOING RENOVATIONS.... ANY IDEA WHERE TO TAKE THIS??? LOOKING FOR A DIRECT LENDER HERE, NOT LOOKING TO CO-BROKER OUT.
-
05-18-2018, 09:19 AM #2
- Join Date
- Dec 2017
- Location
- San Diego, CA
- Posts
- 45
Depending on what the property is currently valued at, we may be able to help. We have done other hotel deals and frequently do collateral deals. Feel free to contact me to discuss.
Alex P
855-262-2996
alex@lendrzhub.com
www.lendrzhub.com
-
05-18-2018, 09:38 AM #3
- Join Date
- Feb 2017
- Posts
- 3,450
Not looking to co-broker, and you've never done a real estate deal?
Renovation loans are really hard. The owner has to have strong financials and a really good AIA budget, and projections.
Head over to Scotsman guide and do a search for lenders, and start sending emails.
-
05-21-2018, 08:09 AM #4
- Join Date
- Apr 2016
- Posts
- 33
Please call me to discuss privately. 212-220-0175. Thanks, Robert
Similar Threads
-
Hotel looking for Term Loan
By SRS in forum Deal BinReplies: 6Last Post: 08-17-2021, 02:42 PM -
$65MM International Construction Loan For Five Star Hotel?
By kfundinghelp in forum Deal BinReplies: 9Last Post: 07-12-2017, 05:40 PM -
Direct Funders Needed for Hotel Loan Deals
By Joseph in forum Deal BinReplies: 3Last Post: 01-10-2017, 01:27 PM -
Need Non-Personal Guaranteed Advance or Loan (have collateral) - GOOD DEAL
By JoeFCA in forum Deal BinReplies: 1Last Post: 03-11-2015, 04:53 PM -
Cash Advance, possible collateral loan deal.
By IKorie in forum Deal BinReplies: 5Last Post: 12-30-2014, 02:19 PM