[helpinghand]

Need a pure hard-money lender that will entertain this deal.

Here is the skinny:

• Needs appx. $100k to re-fi the building where she operates + working capital
• Owns property in Maui, Hawaii worth $500,000 with $110,000 left on it
• Revenues appx. $12k/mo. - not enough to support amount of capital needed

Which hard money lenders can I take this to?

[Michael Jagiello BGF]

I'd say to give WBL a shot they like deals like this ask for Humayyun he's a good guy and will definitely take a look at it and spell some options out

[KTK]

Unless I am mistaken you will need a minimum of $20K/$25K a month through the biz for a WBL offer.

[FundMaster82]

If the clients industry is health or medical based, give James Graydon a call from ProMED Healthcare Financing. 631-468-6325

Need a pure hard-money lender that will entertain this deal.

Here is the skinny:

• Needs appx. $100k to re-fi the building where she operates + working capital
• Owns property in Maui, Hawaii worth $500,000 with $110,000 left on it
• Revenues appx. $12k/mo. - not enough to support amount of capital needed

Which hard money lenders can I take this to?

[Zach]

This guy's cashflow is too low for the $100K he is asking for (through WBL).

Max we would offer would be ~$24K

[Avell Group Consultants]

You might be able to get a hard money loan, interest only monthly payments. But any lender in this space will pay off the existing mortgage, making the loan 210k. What would be your client's exit strategy to pay off the principal in full 2-3 years down the line? Why isn't he trying to do a traditional refinance of the property?

[jayrich316]

You might be able to get a hard money loan, interest only monthly payments. But any lender in this space will pay off the existing mortgage, making the loan 210k. What would be your client's exit strategy to pay off the principal in full 2-3 years down the line? Why isn't he trying to do a traditional refinance of the property?

Because he left out that it is a cannabis medical dispensary...not as many lenders interested in that