Results 1 to 4 of 4
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04-29-2020, 06:23 PM #1
- Join Date
- Apr 2020
- Posts
- 7
Small Commercial and Investment Real Estate Mortgages
I wanted to see if anyone thought there was a market for small starting at 25k first mortgages on investment and commercial real estate. Currently is someone owns something and wants to borrow less then 150k or so they are very limited choices and do an MCA deal. This product is set up as a mortgage with a monthly payment and the cost is much lower an a MCA loan.
Looking for thoughts if you think there is a market as well as how can we best market this product
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05-15-2020, 08:11 AM #2
In my opinion it's not worth it, put a 100k minimum loan amount, then you scale up. If you truly want to help that individual out, lead them to a local that will give them a HELOC [Home equity line of credit]. For example in Florida they are not offering that at the moment, so they would need to go to plan B. Any files you have needing help over 100k loan amount drop me an email.
Gómez Capital Funding
Richard Gómez~Director of Funding
12555 Biscayne Blvd
North Miami, FL 33181
917.600.5647 Mobile
305.320.7125 Office
305.513.5735 Fax
Richard@gomezcapitalfunding.com
www.gomezcapitalfunding.com
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05-15-2020, 08:43 AM #3
- Join Date
- Feb 2017
- Posts
- 3,427
Richard, both Chase and Wells Fargo, and actually most banks, stopped offering HELOCs for now....
https://www.nasdaq.com/articles/jpmo...tainty-2020-04
https://www.pymnts.com/loans/2020/we...es-new-helocs/
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05-15-2020, 08:57 AM #4
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,484
Some community banks are still offering them.
Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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