Results 1 to 13 of 13
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03-01-2022, 09:36 AM #1
Reputation points: 74
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Need $100k for warehouse on 36 acre farm
Hey guys.
My client has a 36 acre property that is zoned agricultural and wants $100k for 30 years to build a 6,000 sq.ft. warehouse. He currently has a $300k mortgage. The property has a current value of $450-500k. FICO=675 as reported by client. He would like to close asap. Let me know if you can do this deal. Thanks.Courtney Smith
Fairfax Funding, LLC
PH: 407-706-8600
www.FairfaxFunding.com
csmith@fairfaxfunding.com
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03-01-2022, 10:32 AM #2
I am doing 100% Loan to Cost construction loan now, after final map, on a couple of properties. But there's too much information missing. What's the value after the warehouse is completed? What is the revenue now that is paying the $300,000 lien on the land? Loan amount may be too small as well. To many questions. You'll need a bridge loan until construction is finished, then you can roll it over to a traditional 30 year loan. I just checked with my construction guy and the loan amount is too small.
Last edited by Olderguy; 03-01-2022 at 12:10 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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03-01-2022, 11:42 AM #3
Reputation points: 84417
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- Florida
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- 2,977
Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
T/VM: 727-291-7890
Office: 727-233-1111
Skype: fc-financial
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03-01-2022, 12:23 PM #4
I think I would do a personal loan for $100,000 at round 8% 3 to 5 year then roll it over into a 30 year fixed traditional mortgage when completed.
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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03-01-2022, 01:36 PM #5
Reputation points: 84417
- Join Date
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- Florida
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If the $100,000 Personal Loan is paid of in 3 or 5 years, what are you rolling over?
Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
T/VM: 727-291-7890
Office: 727-233-1111
Skype: fc-financial
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03-01-2022, 01:46 PM #6
Reputation points: 74
- Join Date
- Mar 2016
- Posts
- 47
No, it's not (unfortunately
. Right now, it's raw land with 10 greenhouses, no income. He's planning to turn it into a working farm, producing greens and peppers. Already has established relationships with vendors and supermarket chains and other commercial outlets.
Courtney Smith
Fairfax Funding, LLC
PH: 407-706-8600
www.FairfaxFunding.com
csmith@fairfaxfunding.com
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03-01-2022, 01:53 PM #7
Reputation points: 340530
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,498
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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03-01-2022, 01:59 PM #8
Reputation points: 74
- Join Date
- Mar 2016
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- 47
Courtney Smith
Fairfax Funding, LLC
PH: 407-706-8600
www.FairfaxFunding.com
csmith@fairfaxfunding.com
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03-01-2022, 02:42 PM #9Steve 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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03-01-2022, 02:54 PM #10
Last edited by Olderguy; 03-01-2022 at 03:10 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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03-01-2022, 07:21 PM #11
Reputation points: 2847
- Join Date
- Dec 2021
- Posts
- 41
Dave lambert.....stop the nonsense.
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03-01-2022, 07:35 PM #12
Reputation points: 84417
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,977
I will be polite - F**** Off - the merchant already has a 30 year mortgage.
If he is able to secure a 3 or 5 year term loan - The loan will be paid off - what is hell is the merchant going to roll over?
The post stated" My client has a 36 acre property that is zoned agricultural and wants $100k for 30 years to build a 6,000 sq.ft. warehouse. He currently has a $300k mortgage.
Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
T/VM: 727-291-7890
Office: 727-233-1111
Skype: fc-financial
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03-01-2022, 07:52 PM #13
play nice guys...
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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