Results 1 to 9 of 9
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10-01-2015, 04:36 PM #1
- Join Date
- Aug 2015
- Location
- GA
- Posts
- 8
Small land deals. Average to poor credit
Anyone able to help on small land deals. Owned free and clear. Small numbers. Up to 50% LTV is fine. Loans would be 20k-100k on land that appraises for double or triple those numbers. Some raw some developed with homes or commercial property on them. Good credit all the day down to poor credit.
I have a few of these coming in monthly.
Non business owners or business owners with small revenue.Last edited by tbrown; 10-01-2015 at 05:00 PM.
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10-01-2015, 04:47 PM #2
If clients own a business WBL can take a look but ONLY to clients who are self employed and who are showing 20K or more a month in banks as we can only lend to a biz. I would prefer only looking at these types of files that land is appraised 6 figures or better because generally land deals are tougher. Pls contact me for further info if needed. Thanks
Regards,
Matthew A. Stucchio
Associate
World Business Lenders, LLC
120 W. 45th St.
5th & 29th Floor
New York, NY 10036
Main: (212) 293-8200
Direct: (212) 220-6018
Fax: (646) 417-7161
Email: Mstucchio@wbl.com
www.WBL.com
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10-01-2015, 05:08 PM #3
- Join Date
- Jul 2014
- Location
- Jackson Hole Wy
- Posts
- 730
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10-01-2015, 05:09 PM #4
- Join Date
- Sep 2014
- Posts
- 720
I may be able to help on the 600+ credit, $100K+ deals when they come across your desk. In the process of issuing our very first deals with this product now, still need to get proper infrastructure in place for ISO business, prob talking 60-90 days, maybe longer. 10 year term, rates a lot closer to mortgages than cash advances, monthly payments, not overly concerned about their net deposits. UW weighed most heavily on TR and financial statement. 7-10 day approval, 2% comm to ISO taken off top at closing.
Prob saying to yourself 2%, 7-10 days, f*ck that. In final stages of taking a merchant with business grossing a little over $10K/M, refinancing two mortgages on the deal bringing our principal to just under $450K. 2 points isn't so bad when we're talking about 45x monthly revenue lol. Keep in mind that this particular client has 700+ credit and a very strong balance sheet. Will keep everyone posted as this develops.
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10-01-2015, 05:12 PM #5
- Join Date
- Aug 2015
- Location
- GA
- Posts
- 8
Okay will do, thanks omega. I still need the other states. Mostly southern.
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10-01-2015, 05:46 PM #6
- Join Date
- Aug 2015
- Location
- GA
- Posts
- 8
Thanks Matthew and Anonymous. I do have someone that does the larger dollar amounts on these. Just wanted to network and see if these could be done under 100k.
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10-01-2015, 08:33 PM #7
- Join Date
- Aug 2015
- Posts
- 67
Hello T Brown,
I work with lenders who can do these smaller deals from 50K and higher for land deals.
I would love to work with You.
Feel free to contact me at Doran@DoranSummers.comDoran M. Summers
Small Business Loans & Commercial Loans
3960 Howard Hughes Parkway Suite #500
Las Vegas, NV 89169
Doran@DoranSummers.com
Www.DoranSummersFunding.com
217.799.0156
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10-02-2015, 10:10 AM #8
- Join Date
- Dec 2013
- Posts
- 4,713
Cresthill can taker a look! you'll know in HOURS after your submission!! Double Digit Commissions!
bizdev@cresthillcapital.com
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10-02-2015, 10:38 AM #9
- Join Date
- May 2015
- Location
- NC
- Posts
- 208
Who knew Cresthill was doing land loans
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