Results 1 to 4 of 4
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11-12-2014, 11:04 AM #1
collateral property - looking for 1 million dollars .
Broker : I have a client that has an ocean front penthouse condo with panoramic views in south fla worth 1.7 million free and clear
A 70,000 Sq ft storage facility worth 3 million with tenants - free and clear
A 32,000 sq ft manufacturing facility that makes tinsel - with equipment valued over 1 million - free and clear
Total of 5 million in assets .
He's looking for 1 million dollars - problem is he is a sole prop.. and doesn't show W2 for income but is willing to collateralize property.Jerry Starr
Insource Funding
433 Plaza Real,
Boca Raton, Fl 33432
P: 800-805-3391 Fx: 561-270-6895
insourcefunding.net
WHAT WOULD YOU DO " IF " YOU HAD THE CAPITAL
◆ 50% LTV - No Fico Required
◆ 90% CLTV on Purchases
◆ Investment Residential / Commercial Properties
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11-18-2014, 05:35 PM #2
- Join Date
- Jul 2014
- Posts
- 82
collateral property - looking for 1 million dollars .
That's a hard money loan all day, I can do it.
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11-18-2014, 05:57 PM #3
This is a Super Jumbo, Cash-Out Refi. A Conventional Lender won't touch it unless he is in contract for another property of equal or higher value. If his credit does not exceed 700+ Fico he will have to demonstrate income to achieve a low rate. Anyone looking for that kind of money, will likely appreciate a long term loan with no pre-payment penalty. It must also be his primary-property, to which I believe someone whose achieved this kind of Real Estate, already knows.
Is he dismissing this option completely and only looking for an MCA?Joe EsparzaFUNDKITE"FinTech High-Risk Funding Table"joseph.e@fundkite.com | 929.999.2700x1008
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12-30-2014, 02:45 PM #4
- Join Date
- Dec 2014
- Posts
- 93
If you still need a home for this one please get in contact with me!
Erin Dreselly
World Business Lenders
81 Market Sq., Suite 7
Newington, CT 06111
Direct: 860-549-2419
Cell: 860-692-4636
Fax: 860-499-5413
Email: edreselly@wbl.com
Web: www.wbl.com
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