Lenders wanted

MI, Multi-family, Purchase, $440K, FICO, 67% LTV
Posted on 2/27/2014 10:16:42 PM

My client is purchasing a 28 unit apartment building built in 1997 that is located near Henry Ford Hospital and Wayne State University in Detroit, Michigan. If you are afraid of Detroit then please don't contact me. The property is 95% occupied and in excellent condition. My client is experienced and has a $3.5 million net worth. The Detroit Development Fund will provide $220,000 for the balance of the $660,000 PP with a second and subordinate position to the first. We have title work ready to go. My client's deposit is hard and the date to close is March 14. MSHDA does not grant extensions to close. This is a great deal for my client which is why he bid it even without the cash to finance the purchase. He will refi this building and a second apartment that has over $1 million in equity in it as the exit strategy. He loses his deposit if he does not close. If you can help, please contact me and if not then please don't waste both of our time. Thank you.

  • by Joseph Kaiker on 3/6/2014 12:55:31 PM

    Has you client considered looking at a non-purpose Asset Pledge loan? Borrower remains in title to the asset, low COF's, No Doc, No FICO requirements, 7-10 day funding....please visit our website for more details: www.deckerglobal.com

  • by Michael Washington on 3/3/2014 12:36:02 PM

    My name is Michael Washington with Griffin Moor as long as you have all of your information in hand i can give you a decision in a couple of days to let you know what loan loan to value as well as your rate also you don't have worry high points on the deal once i submit your deal it will take about 2 to 3 days the main thing it will be before the 14 of March .so please call me at (410) 775-6849 or email me at mwashington@griffinmoor.com our website is www.griffinmoor.com

  • by Sam Trantham on 2/28/2014 4:19:45 PM

    Sam Trantham
    NMLO 208677

    93 Duck Lake Drive
    Austin, Texas 78734
    Off: 512-373-8639
    Cell: 512-633-4159
    EFax: 866-702-7995


  • by Jeffrey Jones on 2/28/2014 4:03:13 PM

    Sam, I need your email address please. Thanks.

  • by Sam Trantham on 2/28/2014 2:56:53 PM

    I have drop box account, send info over

    Savvy Real Estate


  • by Jeffrey Jones on 2/28/2014 2:20:57 PM

    Can you take Drop Box as I have the entire file in a Drop Box? Please let me know and I will send you the package today. Thank you.

  • by Sam Trantham on 2/28/2014 12:07:47 PM

    march 14, pretty fast.... I have possible multi family financing that is 10 yr fixed rate/ 30 yr amortization, can close fast but not sure about 3-14
    need to see some borrower doc's and property docs'

    follow up today please

  • by Alchemy Private Money on 2/28/2014 12:03:12 PM

    Email me your Summary / Scenario and contact information to alloyd@alchemypm.com or call me at 888-407-4133. Alchemy Private Money is a direct investor/lender. We pride ourselves on our fast, flexible, and creative financing solutions for borrowers looking for immediate approval on a secured or asset-based loan. Brokers are welcome.

    Austin Lloyd


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Lenders wanted View all

State Requested Amount Property Type Loan Type FICO LTV Posted
MI $140K Residential Purchase 50% 2/26/2014
Details description needs Hard money for o/o home. LTV 50
CA $187K Single Family Refinance 60% 2/24/2014
Details description Looking for hard money lender for property currently in default due to balloon loan maturing.
CA $187K Single Family Refinance 60% 2/24/2014
Details description Need a loan for loan currently in default due to balloon payment maturing.


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