[VersaBusinessSystems]

Who can do this deal? Needs to be 12 months or longer. Merchant needs 400k to purchase the land his building is on the landlord died and the kids are liquidating for a steal at only 400k. Merchant has been paying 3600 a month rent for 9 years. Dealership down the street including a small building sold for 1.5m so def worth it. Merchant has a rental property with 170k equity and a home he just bought 6 months ago put 50% down $500k which he never would have done had he known he was gonna be able to buy his land that the landlord said he would never sell.

I have all docs tax returns p&l bank statements app, credit reports you name it. Who can help me get this deal done? A 3% success fee has been agreed if we go through a bank but would rather just get something like 24 month term or interest only payments and in a year he can convert over to a commercial mortgage. They just wont approve another mortgage due to the recent home purchase and he already has another mortgage on rental property but that one makes a profit every month on airbnb

[Zonefund]

Who can do this deal? Needs to be 12 months or longer. Merchant needs 400k to purchase the land his building is on the landlord died and the kids are liquidating for a steal at only 400k. Merchant has been paying 3600 a month rent for 9 years. Dealership down the street including a small building sold for 1.5m so def worth it. Merchant has a rental property with 170k equity and a home he just bought 6 months ago put 50% down $500k which he never would have done had he known he was gonna be able to buy his land that the landlord said he would never sell.

I have all docs tax returns p&l bank statements app, credit reports you name it. Who can help me get this deal done? A 3% success fee has been agreed if we go through a bank but would rather just get something like 24 month term or interest only payments and in a year he can convert over to a commercial mortgage. They just wont approve another mortgage due to the recent home purchase and he already has another mortgage on rental property but that one makes a profit every month on airbnb

Greenbox
Libertas
Wall Street funding
Samson

[Olderguy]

So hold on a minute....I assume the purchase includes the land and a structure....or is it just land where he parks the cars?

If it has a structure, what is the appraised value...same if it's land......if the selling price is below the appraised value, and if we can appraise as commercial, then you could do 90% CLTV and the seller carry back can be throw away so all they merchant needs is $50K plus fees.

But more than likely it's a land deal and that's 50% LTV....use a appraised value vs. separated negotiated sale with the kids. Might squeeze more or maybe some seller carry back. Maybe figure to do an equity gift.

NoDoc loan - financials not needed.

I just need more information....reach out...

[microboby]

went this road a couple months ago , seems theres no reliable funder for this type of deal out there . yes a lot short term up to 6 months and stuff but amounts are not great . My guy ended up taking an AMEX loan and a BOFA LOC . by far the better choice . Try Greenbox and maybe wellen , the Usual NY smaller shops just wont get you the offers that you need. Others are time wasters