Results 1 to 6 of 6
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02-17-2017, 12:47 PM #1
Reputation points: 10
- Join Date
- Dec 2016
- Posts
- 30
nyc customer owns free and clear 800k property needs 200k now
excellent credit wants 200k she lives in the property
need to fund immediately
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02-17-2017, 01:08 PM #2
Reputation points: 12878
- Join Date
- Jan 2016
- Posts
- 435
Does this client own a business? If not you are looking for a hard money deal and an owner occupied cash our refinance is not going to be quick, easy or painless.
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02-17-2017, 01:40 PM #3
Reputation points: 105
- Join Date
- Apr 2016
- Posts
- 103
Alberto,
How much income did her business generate in 2016? We could lend up to 10% of gross annual sales, possibly more if income and equity are in line.
Let me know if this option would work for the borrower.
Sean
LiftForward
917.477.65434
sean@liftforward.com
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02-17-2017, 02:48 PM #4
Reputation points: 5777
- Join Date
- Mar 2016
- Posts
- 335
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02-17-2017, 03:00 PM #5
WBL is one of the only options to lend against owner-occupied. As long as she generates over $100K of gross monthly revenue, WBL can facilitate a $200K loan for this borrower.
Zachary Ramirez – CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
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02-18-2017, 05:09 PM #6
Reputation points: 10
- Join Date
- Feb 2017
- Posts
- 2
Does she really need a hard money loan with her good credit? I can get her 4.9% a year income without encumbering the property.
Alternatively, there are plenty of banks and private lenders that will lend with your description of her scenario.
Thank you.
Joe Tufo
Cash Flow Specialists Inc.
P.O.Box 844
Alamo CA 94507
925.352.6000
joe@joetufo.com
http://www.linkedin.com/in/joetufo
http://www.workingcapitalfast.com
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