Asset based financing

[Salvatore Lentini]

I have a 100+ pad park in Houston TX area that I am looking to refi. I have an appraisal for $3.6M and am looking to pull about 50LTV. Anyone know of lenders that will lend based on credit score and the asset, not personal finances? Looking for longest term possible.

[Chad Brey]

Most private lenders (at least the ones that I network with) are asset based. Credit score is a plus, but not top priority. As long as the lender's name goes on the deed of trust during the life of the loan, you're good to go. If you are working with a lender for the very first time however, they might be a little nervous if credit score and personal finances are horrible. 50% LTV is pretty good though.