Results 1 to 4 of 4
-
06-08-2015, 02:53 PM #1
self storage needs hard money deal
I have a self storage facility that is looking to expand and needs 2MM for 24 months 800 fico and doesn't want to deal with banks, would rather do a hard money deal.
The property has an existing 5mm mortgage with Wells Fargo and appraised at 18MM
ALSO POSTED IN REAL ESTATE THREAD
Pm meJerry 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
-
06-08-2015, 05:21 PM #2
- Join Date
- Apr 2015
- Posts
- 188
Shoot me an email and talk nathaniel@instafundllc.com
-
06-08-2015, 09:41 PM #3
- Join Date
- Jan 2015
- Posts
- 41
self storage needs hard money deal
Any hard money lender will buy out the mortgage and would have to find 7 MM. Figure monthly payments of approximately 7K with 7MM DUE as balloon payment at end of term. If he is eligible, he would be far better with a refi from Wells Fargo or another bank. If he needs money fast, you could do a hard money loan, and switch to a call mentionable mortgage as an exit strategy. Feel free to PM me if you would like to discuss further.
-
06-09-2015, 11:25 AM #4
- Join Date
- Jan 2015
- Posts
- 41
Sorry about the typo above - payments would be around 70K monthly
Similar Threads
-
Va hard money deal
By Crdeals in forum All Other LendingReplies: 2Last Post: 05-29-2015, 05:54 PM -
hard money for residential
By Jstarr in forum All Other LendingReplies: 2Last Post: 03-31-2015, 08:27 AM -
hard money agent in atlanta
By lilru911 in forum Help WantedReplies: 0Last Post: 12-10-2014, 06:40 PM -
Hard Money Biz Loan
By 1StopFunding in forum Business LoansReplies: 1Last Post: 03-30-2014, 08:29 PM -
Hard Money Commercial Mortgage
By mfs01 in forum Merchant Cash AdvanceReplies: 6Last Post: 11-14-2013, 06:37 PM