Small land deals. Average to poor credit
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  1. #1
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    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.

  2. #2
    Senior Member Reputation points: 113 MatthewAStucchio's Avatar
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    Quote Originally Posted by tbrown View Post
    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.
    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

  3. #3
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    If in TX,CO,CA email me.


    Quote Originally Posted by tbrown View Post
    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.

  4. #4
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    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.

  5. #5
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    Okay will do, thanks omega. I still need the other states. Mostly southern.

  6. #6
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    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.

  7. #7
    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.com
    Doran 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

  8. #8
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    Cresthill can taker a look! you'll know in HOURS after your submission!! Double Digit Commissions!


    bizdev@cresthillcapital.com

  9. #9
    Who knew Cresthill was doing land loans

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