Property Flipper with 3 Free and Clear Houses
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  1. #1
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    Property Flipper with 3 Free and Clear Houses

    Haven't messed around with real estate too much since I got out of the mortgage biz in 2010. However, I have a long time cash advance client who owns 3 single family homes free and clear. They are titled in a business name (not individual). He would like to take cash out of them to work on other projects while they are on the market.

    I would prefer to work with a direct lender on this deal if possible but not against co-brokering either. There won't be any credit issues on this deal.

  2. #2
    Senior Member Reputation points: 32550 Funder Mark's Avatar
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    I am just going to say it now, WBL is the place. Now lets see all the WBL people say "send it to me"!

  3. #3
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    Im sure you'll get a few now.

  4. #4
    Obviously, WBL can do this as long as his business has sufficient deposits or you can look at doing cash-out refinances on the properties. Visio Lending has a cash-out program on investment properties currently listed for sale. Here's my contact at Visio:

    Taylor Kleve
    Visio Financial Services Inc.
    o: 512-334-1467 | c: 319-360-4990

  5. #5
    Senior Member Reputation points: 113 MatthewAStucchio's Avatar
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    Quote Originally Posted by Finance1 View Post
    Haven't messed around with real estate too much since I got out of the mortgage biz in 2010. However, I have a long time cash advance client who owns 3 single family homes free and clear. They are titled in a business name (not individual). He would like to take cash out of them to work on other projects while they are on the market.

    I would prefer to work with a direct lender on this deal if possible but not against co-brokering either. There won't be any credit issues on this deal.
    Yes, WBL can take a look. We would def. be able to make an offer if everything is in the ballpark of what you are saying. Pls give me a call/email to discuss and/or submit. 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

  6. #6
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    Location and value of the properties? Leases signed and income producing?
    You can probably get a decent deal with local lender or you can try national lender if the loan amount is sufficient.

    How much cash do they need.


    Quote Originally Posted by Finance1 View Post
    Haven't messed around with real estate too much since I got out of the mortgage biz in 2010. However, I have a long time cash advance client who owns 3 single family homes free and clear. They are titled in a business name (not individual). He would like to take cash out of them to work on other projects while they are on the market.

    I would prefer to work with a direct lender on this deal if possible but not against co-brokering either. There won't be any credit issues on this deal.

  7. #7
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    Again other than MCA firms that leverage Real Estate (and some Private Hard Money types) this space is not where Commercial Real Estate Lenders troll.. Depending on property type, guarantor credit (even if it owned by the Corp), Corporate Fiscal Fitness, location, and appraised value will determined the actual available capital to be pulled out. We are a Mortgage Brokerage and can assist on a co brokerage basis.

    Richard 516 510 3855

    www.businesscapitalconsultants.com

    775 Park Avenue Suite 255
    Huntington, NY 11743

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