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01-07-2022, 07:04 PM #1
- Join Date
- Jun 2020
- Posts
- 56
Hard Money Land Loan needed for ocean-front property in Jamaica
I have a client with 9 acres ocean-front in Jamaica looking for a hard money cash-out refinance loan. The property is owned free and clear and should appraise for $2.5 - $3MM. Looking for 40 - 50% LTV. The property has been approved for residential development and he is going to build 60+ duplexes. The cash out will be used to build the infrastructure. FICO of 780. He has owned the property for 18 years. If you are a broker and do not have a known source for this, don't bother doing a online search as I have already reached out to all the usual suspects. Several of the Caribbean lenders do not have funds at this time.
Tom Harrier
Integrity Commercial Loans
www.integritycommercialloans.com
407-928-8542
broker@tomharrier.net
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