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12-27-2022, 02:19 PM #1Member
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Real Estate
Does anyone know of a reliable lender that funds real estate?
Appraised for $221MM
Has term sheet for $80MM
Location Hawaii
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12-27-2022, 05:59 PM #2Member
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- Sep 2022
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Banks, Insurance companies.
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12-27-2022, 06:06 PM #3Member
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I fund large real estate consistently.
I work with private lenders that will fund 80% LTC (loan-to-cost of the project), creative financing, tailor-made capital.
Is this a refi? Is this encumbered already with other positions?
Acquisition? What's the deal? Use of funds?
Lots of questions to help them in the best way.
You can reach me at hello@prosperityfi.com to go through the project. I have other options as well for large deals.
Kristina
CEO Prosperity Financing
https://prosperityfi.com
Private Lenders Creative Financing Tailor-Made Capital
All Business Verticals - US & Worldwide
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12-27-2022, 06:09 PM #4Senior Member
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What kind of real estate - commercial, SFR, 1 - 4 units, what type of property?
Full docs, SISA, NoDoc or what?
Hard money, traditional or what?
What are you seeking that isn't on the term sheet?
Construction, Cash out refi, or what?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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12-28-2022, 09:12 AM #5Member
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- Aug 2021
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What LTV are they looking for? What is their experience level?
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12-28-2022, 11:31 AM #6Senior Member
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- Jackson Hole Wy
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We recently funded a $26M commercial mixed used property. But can go up for the right deal. Question why are they shopping a deal if they have a term sheet already? They looking for commercial/bank rates or private money?
Originally Posted by Mintfunding
bzuniga@omegafund.com
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12-28-2022, 11:34 AM #7Senior Member
Reputation points: 72961
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- Sep 2021
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- Irvine, CA
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I'm getting a LOI on this but I am suspicious on the up front lender fees. I think I know the lender and will know for sure when I get the LOI. 80M/221M doesn't make sense.
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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12-28-2022, 12:40 PM #8Senior Member
Reputation points: 226631
- Join Date
- Feb 2017
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- 3,411
I have a hard money lender who uses insurance company money on this. They recently opened up in Hawaii, can go up to 60% in theory and have fixed rates that haven't gone up very much with the interest rates, since their money is just kinda sitting there. Originally Posted by Mintfunding
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12-28-2022, 12:44 PM #9Senior Member
Reputation points: 72961
- Join Date
- Sep 2021
- Location
- Irvine, CA
- Posts
- 2,258
I think it's a construction loan. That what I could garner from the description about the LOI.
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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