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02-18-2020, 05:20 PM #1
- Join Date
- Nov 2019
- Location
- Philadelphia Region
- Posts
- 5
REI - Small Deal - Rural Area
This is a re-post as I am still seeking a reputable source. The last one decided the deal wasn't large enough for them after starting the process, even though I posted these exact paramters;
Cashout/Rifi
70% - 75% LTV desired
Experienced RE investor (small player)
Portfolio (6) properties
(Can be split into two loans, 4 on one, 2 on the other if need be)
Rural Texas
Closest MSA is Houston (about 70 miles)
Total Portfolio Value: $365,000 - $390,000
Each property valued $60,000 to $65,000
Existing balance (all properties): $100,000
Anticptaed loan amount: $255,000 - $292,000
Stirctly Asset-Based
(Personal FICO mid score 599)
Above average DSCR
I have been jerked around with this file beginning with Patch of Land...which subsequently means the client has been jerked around, too. I'm on a mission to simply find a home for the file, and provide the client with what he needs.
I'd be grateful for any guidance in the right direction, or assistance with putting it together.
Please, don't waste your time or mine if you are not certain you can do put this together.
Thank you.Make it a great day!
Patrick Gaul, Founder
Coastal Funding Group
Office: 888.908.4881
CoastalFundingGroup.com
Patrick@CoastalFundingGroup.com
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