I have a client in a very unique situation that I believe is solvable for the right hard money lender.

This woman owns 47 residential rental properties, worth $4M +. Some are paid off, some have loans on them. There is $2M - $2.5M of equity with a 65% or 70% LTV. Some of the properties are in her name and some are are held jointly with her ex-husband.

This is where it gets interesting. She owes the ex-husband $2M. We had an offer on the table a few months ago for $2M with a traditional lender. As with most divorces, there is acrimony. The ex refused the offer (go figure). Instead, he came after her and basically started making life miserable, so she went into BK.

Now...there is a judge involved and she claims the judge can force acceptance of a reasonable offer.

But now we have a BK to content with. She says she does not owe anyone a dime other than her ex, but she needed BK to protect herself from him.

My approach is to find a creative Hard Money lender that will lend against her properties (which are all income producing) and get her ex paid off so she can exit the BK. Then come back at a later date and refi the hard money loan with traditional financing.

Any takers?

Best,

Dan Page
dan@fundingstrategypartners.com