[Fundyman]

Currently shutdown for renovations.
So you know upfront, there was rodent & crime activity there as well. Mostly need for renovation & crime caused shutdown.
Now that we got that out of the way...

Hotel is worth no less than $1.5-2MM
1st lien: $450K @ 6% w/ bank
2nd lien: $165K @ 12% per 6 months i/o
Credit 700+
Net Worth: $5MM+
Needs $300,000 cash out 1st refi at no more than 7.5% (i/o is fine, but rate can't be higher).

I have 2 yrs Tax returns, 6 months bank statements; can obtain current mortgage statements.

I need a no-nonsense lender who can just get this done w/out coming back with the usual crap they find on Google.
The client is in dire need of re-opening the hotel. He owns at least 4 & runs 2 more. He's not in the business of taking cash out & running, leaving all that equity to the side.

If you feel you can get this deal done within 30 days w/out pulling my leg, send me PM.

***WITHIN 30 DAYS! NO SBA BULLSH*T, PLEASE!***

[sigmundpannu]

Goto scotsmanguide.com and post it there.

[CO1]

Sba!

[Fundyman]

Sba!

I hear that! Might be the best way to go, except, I know the client won't be bothered w/ the SBA as long as there's a faster way that's not as expensive as standard 12% hard money.

[Fundyman]

Goto scotsmanguide.com and post it there.

Scotsmanguide isn't likely to help much, but thanks. I might use it as last resort.

[omegafund]

Depends on the location but if he is willing to cross collateralize some other properties rates would be in 9-11%
If he is in dire need he needs to get over the rates as he can refinance After renovation.
Bzuniga@omegafund.com

Currently shutdown for renovations.
So you know upfront, there was rodent & crime activity there as well. Mostly need for renovation & crime caused shutdown.
Now that we got that out of the way...

Hotel is worth no less than $1.5-2MM
1st lien: $450K @ 6% w/ bank
2nd lien: $165K @ 12% per 6 months i/o
Credit 700+
Net Worth: $5MM+
Needs $300,000 cash out 1st refi at no more than 7.5% (i/o is fine, but rate can't be higher).

I have 2 yrs Tax returns, 6 months bank statements; can obtain current mortgage statements.

I need a no-nonsense lender who can just get this done w/out coming back with the usual crap they find on Google.
The client is in dire need of re-opening the hotel. He owns at least 4 & runs 2 more. He's not in the business of taking cash out & running, leaving all that equity to the side.

If you feel you can get this deal done within 30 days w/out pulling my leg, send me PM.

***WITHIN 30 DAYS! NO SBA BULLSH*T, PLEASE!***

[B2csp]

Currently shutdown for renovations.
So you know upfront, there was rodent & crime activity there as well. Mostly need for renovation & crime caused shutdown.
Now that we got that out of the way...

Hotel is worth no less than $1.5-2MM
1st lien: $450K @ 6% w/ bank
2nd lien: $165K @ 12% per 6 months i/o
Credit 700+
Net Worth: $5MM+
Needs $300,000 cash out 1st refi at no more than 7.5% (i/o is fine, but rate can't be higher).

I have 2 yrs Tax returns, 6 months bank statements; can obtain current mortgage statements.

I need a no-nonsense lender who can just get this done w/out coming back with the usual crap they find on Google.
The client is in dire need of re-opening the hotel. He owns at least 4 & runs 2 more. He's not in the business of taking cash out & running, leaving all that equity to the side.

If you feel you can get this deal done within 30 days w/out pulling my leg, send me PM.

***WITHIN 30 DAYS! NO SBA BULLSH*T, PLEASE!***

If merchant is willing to let someone come in and consolidate his liens and give him 300k cash out for an interest only for 12-24 months while he finishes the renovation then
refi through a bank once he is done, it is possible. as long as the total refi and cash out amounts to more then a million. I have never seen any merchant who is willing to
consolidate their bank rate but if he is, let me know.

[Fundyman]

Depends on the location but if he is willing to cross collateralize some other properties rates would be in 9-11%
If he is in dire need he needs to get over the rates as he can refinance After renovation.
Bzuniga@omegafund.com

Facts indeed.

[Zach]

WBL can structure a bridge loan for the borrower, holding back 3 months of payments and structuring it with a 6-month prepayment addendum. This way he makes no payments for the first three months and only pays a few months' worth of interest.

He can simply refinance us upon completion of his renovations. We should be able to get it done in a suitable timeframe to meet his needs.

[MoneyMatchMaker]

Currently shutdown for renovations.
So you know upfront, there was rodent & crime activity there as well. Mostly need for renovation & crime caused shutdown.
Now that we got that out of the way...

Hotel is worth no less than $1.5-2MM
1st lien: $450K @ 6% w/ bank
2nd lien: $165K @ 12% per 6 months i/o
Credit 700+
Net Worth: $5MM+
Needs $300,000 cash out 1st refi at no more than 7.5% (i/o is fine, but rate can't be higher).

I have 2 yrs Tax returns, 6 months bank statements; can obtain current mortgage statements.

I need a no-nonsense lender who can just get this done w/out coming back with the usual crap they find on Google.
The client is in dire need of re-opening the hotel. He owns at least 4 & runs 2 more. He's not in the business of taking cash out & running, leaving all that equity to the side.

If you feel you can get this deal done within 30 days w/out pulling my leg, send me PM.

***WITHIN 30 DAYS! NO SBA BULLSH*T, PLEASE!***

I have a fund that I deal with that has rates at 5-7% for borrowers with 700+ credit score min loan size is 1m, but I have them doing a 845k loan now at 6%, so they will consider a smaller amount like you're asking for. 30 days is typical closing time but I have seen it take as long as 45 days. Your borrower will need to have a renovation plan with budget drafted if doesn't already, they won't just had him 300K FYI. Contact me if you'd like to pursue this option.

Burton M. Brooks | CEO
Money MatchMaker Corporation

North Miami Beach, FL 33162
www.mmcocapital.com
Direct: 419-559-3251
Office: 305-647-2682
Fax: 888-303-2670
Burt@mmcocapital.com

[Fundyman]

WBL can structure a bridge loan for the borrower, holding back 3 months of payments and structuring it with a 6-month prepayment addendum. This way he makes no payments for the first three months and only pays a few months' worth of interest.

He can simply refinance us upon completion of his renovations. We should be able to get it done in a suitable timeframe to meet his needs.

Cool, but all @ what rates.....?

[Fundyman]

I have a fund that I deal with that has rates at 5-7% for borrowers with 700+ credit score min loan size is 1m, but I have them doing a 845k loan now at 6%, so they will consider a smaller amount like you're asking for. 30 days is typical closing time but I have seen it take as long as 45 days. Your borrower will need to have a renovation plan with budget drafted if doesn't already, they won't just had him 300K FYI. Contact me if you'd like to pursue this option.

Burton M. Brooks | CEO
Money MatchMaker Corporation

North Miami Beach, FL 33162
www.mmcocapital.com
Direct: 419-559-3251
Office: 305-647-2682
Fax: 888-303-2670
Burt@mmcocapital.com

Indeed, all my hopes are right here w/ you on that post, Burton. Pulling this off would be HUUUUUUGE... (as much as I hate the f*cker..., Donald Trump voice)