[abfunders]

Some update on this since I posted it, and I didn't put this in the deal bin, and I'm already potentially cobrokering, but I'm still working to get the best deal for this company - obviously I'm still looking for the balance of "me" and "him."

Company does $6-7mm yearly and they can provide tax returns after he sees an offer he likes
Townhouse rental (currently vacant) in AZ appraised for $313,000 and office building in MO (used by the company) appraised for $474,000.
Both owned by the LLC free and clear.

They need around $500,000 as a LOC or hard money until the end of the year. Less than that, no deal.

They are looking for rates of under 10% bridge on the property until the end of the year when they have receivables coming in. 12 months max, wants no early pay-off penalty, no up-front fees. He wants the world. If I can give him several options, he will can pick. That's the advantage of a broker.

NO personal guarantee. ONLY based on the property. He does NOT want his credit "pulled," but I convinced him to give a potential lender his personal credit check from all 3 bureaus and to any legit offer, the login to verify it's not falsified. That's the equivalent of 3 hard pulls.

Anyone can email me. I have the appraisals. Just be honest with me if you're a broker or a direct lender, and the potential rates/points/terms and what my cut would be. I would prefer not to water the deal down with co-brokering, but I do want to get it funded. I

[aredmond]

Some update on this since I posted it, and I didn't put this in the deal bin, and I'm already potentially cobrokering, but I'm still working to get the best deal for this company - obviously I'm still looking for the balance of "me" and "him."

Company does $6-7mm yearly and they can provide tax returns after he sees an offer he likes
Townhouse rental (currently vacant) in AZ appraised for $313,000 and office building in MO (used by the company) appraised for $474,000.
Both owned by the LLC free and clear.

They need around $500,000 as a LOC or hard money until the end of the year. Less than that, no deal.

They are looking for rates of under 10% bridge on the property until the end of the year when they have receivables coming in. 12 months max, wants no early pay-off penalty, no up-front fees. He wants the world. If I can give him several options, he will can pick. That's the advantage of a broker.

NO personal guarantee. ONLY based on the property. He does NOT want his credit "pulled," but I convinced him to give a potential lender his personal credit check from all 3 bureaus and to any legit offer, the login to verify it's not falsified. That's the equivalent of 3 hard pulls.

Anyone can email me. I have the appraisals. Just be honest with me if you're a broker or a direct lender, and the potential rates/points/terms and what my cut would be. I would prefer not to water the deal down with co-brokering, but I do want to get it funded. I

Does he want your house, car, and wife too? Jeez I would let that one slide.....

[TedFundy]

Go get a re-fi or......... I'm guessing his credit sucks

[golf2014]

His wants are unreasonable. New lender will likely want there own appraisal and site inspection. Agreed it looks best to.let it go. Townhouse has no rental..
No idea on condition. Too many unclear n not realistic expectations.

[abfunders]

His FICO is around 750.

Instead of working against him and making fun of him, I'm working with him to get him to realize that I'm not "out to get him" (as much of the brokers are) and I'm trying something interesting just to get around the hard/soft pull.... he's going to give any direct lender his login to creditchecktotal.com. It's actually at least as good as 3 hard pulls. I told him that a hard pull (1) is removable and (2) worth the cost, but this can at least prove his sincerity. If they want to do their own hard pull afterwards, he knows it's for real.

I worked with him to realize that a direct lender normally needs to see his credit to know that he's not a scam artist with a foreclosure and 15 delinquent accounts. Which is what a former potential client of mine who wanted land deal because he was completely tapped out on the MCA route and needed more money. I dropped him that guy like a hot potato.

I'm also working with Kevin Henry @ Seacost to see if we can factor some of the invoices he has outstanding.

You gotta be creative to get anything done. Once I proved my creativity, I can tell that he trusts me, and we can close on something. The next challenge is, after I find the right funding source, walking the fine balance between adding closing points and losing the deal.

On the other hand, a NYer in Nevada who is grossing around $20-30k over the last 3 months and his credit got shocked (650) because he just bought a Bentley and $7mm house, needs $100k "yesterday" won't listen to reason about getting a co-signer who has excellent credit for me to help him. He says, "Your number is from NY, you're a hustler, I know the type, I'm also originally from NY."

I'm a Midwesterner. That attitude really bothered me.

[ElitheMoneyGuy]

Lol...