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  1. #1

    600k 12 unit collateral

    I have a client that owns a 12 unit apartment building, looking for some kind of equity LOC or abl set up. He hasnt recent appraisal on the property for 600k. Not very versed in this sector so anyone that thinks it worth your time shoot me a PM.

  2. #2
    Senior Member Reputation points: 34509 Jstarr's Avatar
    Join Date
    Nov 2014
    Location
    South Florida
    Posts
    838

    Well, send me the details and i might be able to assist,

    Location
    Occupied or vacant
    When did he purchase it & Purchase price
    Any Debt on the property
    Exit plan.




    Quote Originally Posted by codyp_bizcash View Post
    I have a client that owns a 12 unit apartment building, looking for some kind of equity LOC or abl set up. He hasnt recent appraisal on the property for 600k. Not very versed in this sector so anyone that thinks it worth your time shoot me a PM.
    Jerry Starr
    Insource Funding
    433 Plaza Real, Ste 275 Boca Raton, Fl 33432
    P: 800-805-3391 Fx: 561-270-6895
    Jerry@insourcefunding.net | insourcefunding.net

    WHAT WOULD YOU DO " IF " YOU HAD THE CAPITAL

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

    If you get declined, let me know... I don't need exit plan, financials, vacant OK, 500 score OK-- don't even need a full appraisal unless it's fix n flip. Just a BPO is fine - and close quickly. 65% loan to value.

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