[dpFund]

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

[anydealfunded]

Are these single family and under same corporate umbrella or all separate entities? If they are separate entities owned by one entity I can help you as well as get the BK to sign off. Up to 75% ltv which would get her the cash out she needs. Pm me.

[dpFund]

Are these single family and under same corporate umbrella or all separate entities? If they are separate entities owned by one entity I can help you as well as get the BK to sign off. Up to 75% ltv which would get her the cash out she needs. Pm me.

Thanks for the response. Some of the properties are owned outright by my client, and some are jointly owned with her and her ex-husband.

[boundbygravity]

Hey Dan, your email reply got lost in the stack. Apologies.

I can do up to 85% LTV but I am in talks with underwriting to figure out where to proceed with this deal. We need more information and want to make sure she can't just flush the loan under BK.

Need you to please prepare a property schedule annotating what properties are solely owned by her. Because the husband is acting in a hostile manner, we want to limit his involvement as much as we possibly can.

Have scheduled call with you at noon EST. Speak to you then.

[snajieb]

Dan,

How much is the borrower generating in income from the properties? Also what type of BK is the borrower in and what is FICO?

Sean

[Synergy Funding]

Sending you a PM