Results 1 to 8 of 8
-
01-29-2020, 03:32 PM #1
- Join Date
- Aug 2019
- Posts
- 39
NJ RE Purchase way below assessed value
We have a client that has no credit history--that's right NONE--2 inquiries... He wants to buy a NJ former gas station for 304. has assessed value of 800. Can you help?
-
01-29-2020, 04:43 PM #2
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,921
Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
T/VM: 727-291-7890
Office: 727-233-1111
Skype: fc-financial
-
01-29-2020, 04:50 PM #3
- Join Date
- Aug 2019
- Posts
- 39
less than 150. Thoughts?
-
01-29-2020, 08:19 PM #4
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,921
Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
T/VM: 727-291-7890
Office: 727-233-1111
Skype: fc-financial
-
01-30-2020, 09:40 AM #5
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,471
Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
-
01-30-2020, 01:48 PM #6
Thats going to be tough, not because of the credit, because of the enviromental - when financing a gas station you willl always need a phase 1 enviro, and of something comes back and requires a phase 2, the station owner could be facing down a huge bill and potentially hold up the lenders funds / owners bank accounts until the enviro issue is fixed...
the other part of this is the tanks, some station owners own them and most are leased.so that could also be an issue...
Too many problems, I've done a few and wouldn't do it again.
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
-
03-02-2020, 12:23 AM #7
- Join Date
- Mar 2020
- Posts
- 160
Anthony Auriemma
732-552-5010
Bilderberg Business Lenders
-
03-09-2020, 06:11 PM #8
- Join Date
- Feb 2020
- Posts
- 8
We close 4-5 gas station CRE transactions a month. Please reach out if interested.
Similar Threads
-
Purchase Loan DC
By WhoElse? in forum Business LoansReplies: 2Last Post: 06-05-2017, 05:22 PM -
Carwash Purchase
By BigIz in forum Deal BinReplies: 4Last Post: 08-31-2016, 01:25 PM -
Need Purchase Order Finance Company able to finance Haiti $3MM purchase order
By Fundyman in forum Deal BinReplies: 1Last Post: 07-25-2015, 09:56 AM -
Restaurant Purchase
By FSB in forum Deal BinReplies: 1Last Post: 07-08-2015, 06:53 AM -
Need to purchase ucc leads
By lilru911 in forum Deal BinReplies: 2Last Post: 06-22-2015, 01:05 PM