Results 1 to 4 of 4
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01-12-2022, 02:11 PM #1
- Join Date
- Jan 2022
- Location
- Florida
- Posts
- 10
bridge loan needed 3.5 for land and development of land.
has a construction loan approved and signed off on for way more ( 8 times more to be exact). not sure if i should post it here or not. he is looking for any fee's or down pymt to be included in loan. Anticipates a 9-12 month paid in full term as construction lender will be paying in full. Lender is willing to be in 2nd position for the 9-12 month duration before he buys the land in full from bridge lender. anyone???
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01-14-2022, 09:38 AM #2
Think about it....guy wants this whole thing handed to him with NO financial contribution on his part. What part of this makes any sense at all? None of it. He need to go out and find an equity investor, not a lender.
Steve Benjamin
Professional Business Loans
522 Contessa
Irvine, CA 92620
steveprobiz@gmail.com
https://probizloans.net/
Broker, Underwriter, general business loan expert
949.228.1050
@ 24 hour funding working capital loans
@ Term loans from 3 years to 10 years at 9.5% and up
@ Equipment financing up to 7 years
@ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
@ SBA loans - 7A and 504.
@ Private money equity and debt for major investments
@ Personal Loans up to gross income from personal tax return.
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01-14-2022, 12:34 PM #3
- Join Date
- Jan 2022
- Location
- Florida
- Posts
- 10
He does have money invested into the project. 300k in development and 1.3 million to secure his construction loan of 25m.
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01-14-2022, 01:18 PM #4
Have him get an investor to get what he needs to move forward would probably be his best option. A lot of these development projects run out of funds and then can't the project funded that may require a capital contribution.
Last edited by Olderguy; 01-14-2022 at 01:35 PM.
Steve Benjamin
Professional Business Loans
522 Contessa
Irvine, CA 92620
steveprobiz@gmail.com
https://probizloans.net/
Broker, Underwriter, general business loan expert
949.228.1050
@ 24 hour funding working capital loans
@ Term loans from 3 years to 10 years at 9.5% and up
@ Equipment financing up to 7 years
@ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
@ SBA loans - 7A and 504.
@ Private money equity and debt for major investments
@ Personal Loans up to gross income from personal tax return.
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