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10-21-2019, 08:54 PM #1
- Join Date
- Jan 2018
- Posts
- 34
California Hard Money Deal
Have a request to compete on a term sheet. Here are the details of the current deal:
$11m asset backed loan (real estate)
8.5% interest
3 years, interest only payments
1% origination fee
Anyone out there that feels they can compete on this?
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10-21-2019, 10:26 PM #2
Sent you a PM
Nick Hubbard
Senior Loan Advisor
314-252-0299 - Office
314-885-2262 - Direct
nick@elitefactoring.com
www.elitefactoring.com
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10-29-2019, 01:46 AM #3
- Join Date
- Mar 2016
- Posts
- 123
Hi Ben:
Shopping a loan can be a negative if overdone.
You're missing a few details:
Commercial real estate?
Is this an acquisition, refi cash out, PIP, rehab, ground up construction?
I/O 36 months - does that include 6 mo extensions or the desired term ?
LTV? LTC? ARV?
MSA?
Property type?
Owner occupied or no?
Does that 1% origination not include the broker fee? Seems a tad light unless the loan scenario's a gem.
MikeMike Lewis - commercial real estate loan broker / owner
No up front fees loan broker
Commercial real estate loans: Acquisition, refinance, construction and FAST bridge loans from $200k +
tel/voicemail: 937-964-5355
cell/voicemail: 440-637-5646
corporate email: mikelewis@michaellewisgroup.com
www.linkedin.com/in/cigarmike
Veteran Owned
WE CO-BROKER with an even 50/50 split and we both get paid by wire at close.
We issue a combination mutual NDA / fee split, you introduce your CRE clients to us stating simply we handle your commercial real estate loans, we take it from there and keep you in the loop. When a loan you referred closes, you get paid at close by wire.If you can work with that please do not hesitate to contact us. Our loan forms are vanilla with no company name.
Michael Lewis Group Commercial real estate loans
http://michaellewisgroup.com/index.html
Loan Matrix
Forms
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