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04-10-2017, 10:38 AM #1
- Join Date
- Dec 2016
- Location
- New York
- Posts
- 30
$8,250,000 Funding Request for 100 acres land in Georgia
We are principals and looking for a private investor lender with capacity and desire to lend and invest in a development project in Georgia.
USE OF FUNDS:
Property Acquisition: $8,250,000
Loan Amount Request: $8,250,000
Current Appraised Value: $15,000,000
Estimated Future Appraised Value: $20,000,000
********************************************
LOAN STRUCTURE terms and conditions desired and acceptable by borrower:
55% LTV loan to Value ($8,250,000)
Interest rate: 8% to 12%
Term: 12 months to 24 months
Lender Points: 2 to 5 points
Broker Fee: 1 to 2 points
********************************************
PREFERRED TERMS:
The company is in start-up phase so we are requesting true Asset Based Funding:
* No minimum credit score
* No personal financials
* No tax returns
* Non-recourse funding
* The property will be purchased in an LLC.
* There are no bankruptcy or foreclosures on the principals.
********************************************
SPECIAL STIPULATIONS:
* All points and fees deducted from loan amount given by lender at closing
* No prepayment penalty
* 1st lien position for lenders
* Lenders accept all current due diligence: appraisal, current title search, property inspection.
* Down payment by borrower
********************************************
COLLATERAL / REMEDIES:
* 1st Lien Position - 1st priority for payment and enforceable 1st lien in case of foreclosure
* Business Income Insurance - To guarantee repayment in case of loss of business income
* General Liability Insurance - To protect the business and principals from 3rd party claims
* Builders Risk and Installation Insurance - To guarantee completion of the project in case of a catastrophe
********************************************
EXIT STRATEGIES:
* Refinance the property / cash-out immediately after closing.
* Resell the property for profit.
* Pay off loan with revenues and net profits from existing ventures
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04-10-2017, 12:32 PM #2
- Join Date
- Feb 2017
- Posts
- 34
Give me a call 888-820-0720 ext 702 mark at whizfunds I have the private source your looking for .
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04-30-2017, 11:26 PM #3Jerry Starr
Insource Funding
433 Plaza Real,
Boca Raton, Fl 33432
P: 800-805-3391 Fx: 561-270-6895
insourcefunding.net
WHAT WOULD YOU DO " IF " YOU HAD THE CAPITAL
◆ 50% LTV - No Fico Required
◆ 90% CLTV on Purchases
◆ Investment Residential / Commercial Properties
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05-02-2017, 12:52 PM #4
- Join Date
- Feb 2017
- Posts
- 34
I know this and these things just because they are asking for it their way does not mean they will get it !
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04-24-2017, 02:44 AM #5
- Join Date
- Apr 2014
- Posts
- 781
Gmail not allowed when advertising services Mr 1st posterererer
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04-24-2017, 10:10 AM #6
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04-28-2017, 02:32 PM #7
- Join Date
- Apr 2017
- Location
- Buffalo, NY
- Posts
- 5
Has an appraisal recently been ordered on the property? I would like to look at it before knowing if it's a deal I'd fund. Please send it and any other supporting documents to rj@valmarfunding.com
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04-30-2017, 11:14 PM #8
I see deals like this all day and throw them away, i call them " Clown Deals " - that's because somebody has this grandiose idea and they're looking for an investor to fund the entire deal - And hes asking for NOn recourse so that translates to I dont have any " Skin" in the game,
This deal isn't doable by any means - lets just point out 2 red flag's, and you new guys on here trying to pose as lenders take note.
1) of all the demand's are ridiculous, i wouldn't accept " diligence" from anyone especially when the loan amount is $8M, neither will anyone else.
2nd - Points and fees come from proceeds - this tells me the guy doesn't have any skin in the game, Or any Reserves.
This is a bad deal, the first reason is that its land ,so unless he has some other real estate to leverage, neither myself or any other " Real Estate" lender would touch it.
And this one takes the cake: we fund deals all the time without returns or weighing the risk on the Fico, but this Guy,
* No minimum credit score
* No personal financials - Your asking for $8MM, Of course i want to see your financials
* No tax returns - That tells me you didn't file or you make less that what you want me to believe.
* Non-recourse funding - Oh so you want all the risk to be on the lender since you don't have any skin in the game.
BAD DEAL ---- DEAD.Last edited by Jstarr; 04-30-2017 at 11:23 PM.
Jerry Starr
Insource Funding
433 Plaza Real,
Boca Raton, Fl 33432
P: 800-805-3391 Fx: 561-270-6895
insourcefunding.net
WHAT WOULD YOU DO " IF " YOU HAD THE CAPITAL
◆ 50% LTV - No Fico Required
◆ 90% CLTV on Purchases
◆ Investment Residential / Commercial Properties
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07-29-2017, 07:57 PM #9
- Join Date
- Jul 2017
- Posts
- 49
Call Lorraine at 765.517.0975.
Lorraine McNair - COO
MoveAhead Financial
2114 E Blvd
Kokomo, IN 46952
lorraine@moveaheadfin.com
www.moveaheadfin.com
765.517.0975
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05-02-2017, 12:50 PM #10
- Join Date
- Feb 2017
- Posts
- 34
I have a 100 % financing 6 % 10 year term payable quarterly senior construction debt mark 888-820-0720 ext 702
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05-06-2017, 02:50 PM #11
So when i looked at your website, it says Immigration Visas, How does that translate to a lender that is offering 100% financing ?
https://www.visasagency.com/
Jerry Starr
Insource Funding
433 Plaza Real,
Boca Raton, Fl 33432
P: 800-805-3391 Fx: 561-270-6895
insourcefunding.net
WHAT WOULD YOU DO " IF " YOU HAD THE CAPITAL
◆ 50% LTV - No Fico Required
◆ 90% CLTV on Purchases
◆ Investment Residential / Commercial Properties
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05-07-2017, 08:59 PM #12Sean Hawley
CEO
BLF
Bright Light Freight
shawley@brightlightfreight.com.com
631-210-6327
SBA, Term Loans, LOC, MCA & Equipment Finance (Transportation & Trucking)
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