Low purchase price, Unique scenario (Hard Money Commercial Loan)
Unique situation- Does anyone know who can help? Purchase price $48,400 Property originally listed residential, appraisal came back commercial. Looks to be old bank, borrower fell in love, will be owner occ. Is legal conforming no rebuild letter Borrower 728 mid wants to put 10% down Any info is greatly appreciated! Click Here for More Info
Hello, if you are needing a commercial lender contact us so we can review your summary page of your product. We will review it and if we can commit to it we will give you a forward commitment and begin the process to funding. AmeriBest West Inc. 333 Wilshire Ave. Anaheim, CA 92804 714-240-0635 Direct 888-255-9999 Toll Free Contact: Rodolfo de Hoyos Property Types: Shopping Centers Factory Outlet Centers Mobile Home Parks Light Industrial/R&D Office Buildings Nursing/Assisted Living Hotels Other Property Types (call for quote) Apartments/Multifamily Net Lease/Credit (call for quote) Click Here for More Info
I had a client contact me who wants to refinance his commercial property. It is apparently two lots that he owns totaling 3 acres and 14k sqft of buildings. He currently owes about 375k on it. It is worth 1.3 - 1.5 million. He would like to take an additional 600k out. That would put his total loan amount at about 975k. The funds will be used to operate a travel trailer business. This property is in CA. Hes looking for: Stated or No Doc He said his comps are firmly above a million to 1.7 mill Credit score 620 LTV 75 Cashout o/o (States rent roll would be 15k if he was leasing it) Wants to get it done quickly. Somebody else toyed with the loan for 4 months. Do we approach this as two loans. Anybody know anyone who can do it? Click Here for More Info
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