CRITERIA

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Financing

Up to 100% financing, based on common sense underwriting  - In most cases includes money for acquisition, escrow, and closing; but rarely carrying costs.

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Asset based

• Collateral securitized by real estate

• Income and non income producing properties

• Asset driven regardless of credit

• No sourcing or seasoning of funds or reserves 

• Foreign Nationals OK

• No 4506's

• Seller held seconds OK

• Anywhere in the United States / Worldwide - on case by case basis

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Experience

Real estate track record commensurate to project or team experience

Ability to demonstrate a business plan and exit strategy

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Terms

24 month - 10% interest only - 4 to7 points - $350k loan minimum

Several properties may be bundled to meet minimum.

Close in corporate, business, or trust.  No prepayment penalties

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Letter of Intent (LOI)

An LOI indicates conditions for release of funds.

Acceptance includes a refundable 1% commitment held by a closing attorney, title company, or escrow agent.

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LOANS

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Acquisition

Purchase property using loan proceeds.

 

Acquisition & Development

Purchase and develop real property to an enhanced state.

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Construction

Construct a building or for improvements of real property.

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Rehab - Purchase

Rehabilitate real property to an enhanced state.

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Fix & Flip 

Make property ready for resale in short order.

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Cash Out Refinance

Refinance to close out an existing loan.

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Bridge

Short duration borrowing until permanent financing is secured for acquisition, cash out, buy outs, work outs, construction, rehab

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Workout, Bankruptcy, Foreclosure

Temporary funding until sale of asset or institutional financing becomes available

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PROPERTIES

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Income producing

Residential - non owner occupied units, apartments, complexes,  condo/coop conversions, assisted living 

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Retail, storage, industrial, office, medical, mixed use - buildings, complexes, centers

 

Non-income producing

Land acquisition, development, construction, rehab escrows, bank workouts, foreclosures and bankruptcies

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VALUES

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Expected price

Based on market factors and property analysis

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Comparable Sales

Market value of nearby comparables based on recently sales within an area and time frame

 

Replacement Value

Dollar amount it would cost to rebuild at current construction costs plus the value of the land

 

Income Approach

Income created by the asset based on occupancy

 

As-Is

Value in current condition without construction or repairs

 

Loan to Cost (LTC)

Ratio between construction costs versus loan financing

 

After Repair Value (ARV)

Value used  to calculate the spread between current and complete renovation.

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