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Updated over 1 year ago on . Most recent reply

User Stats

12
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5
Votes
Alex Boots
5
Votes |
12
Posts

Advice needed - Syndicate

Alex Boots
Posted

Hey guys,

I was referred to a commercial lender called Silver Hill Funding in Los Angeles by a local residential loan officer.  The email string was roughly as follows:

Referral source email to commercial lender:  "Alex is spearheading communication for his investor group. They are pooling between 4 individuals to begin a real estate business. They are specifically interested in 16-unit rentals and I am referring them to you for your expertise in the commercial lending space."

Commercial Lender : "Hi, is this a syndicate?"

Me: "Yes it is. 

Commercial Lender: "We don't lend on syndicates."

Me: "Okay, no problem. Do you have anyone you could recommend who could help me"

Commercial Lender: "Sorry no"

The quick answer and lack of helpfulness struck me. 

My questions: Are syndicates hard to get financed? Was my intro email said in a way that made me appear unqualified?  Or is this commercial lender just not helpful/unfriendly? Any thoughts?

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