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Updated almost 16 years ago on . Most recent reply
Need Financing to take down Bank REOs
Hi everyone,
Just wondering if anyone can suggest a good, reliable lender on the following financing needs? The needs are simple and straight forward (nothing creative,) but just want to connect with people who are RELIABLE and Trustworthy. So, I don't have to waste SO much time with people who can't perform. Your suggestions are appreciate it! :)
Also, if you are a lender, you are welcome to call me direct if you believe you have some good loan programs that will fit my needs.
Couple financing needs:
1. I need to sell some SFD properties to some end buyers to cash out my free and clear properties. In St. Louis & Decatur, GA. I have A paper end buyers, shows income and asset & need unlimited # of loans (so maybe through LLC or lender who can do the 4th to 10th loan.)
2. Commercial loan ($1m - $5m): I am getting together one or two strong borrower as partners to take down REOs direct from the bank. This will be mostly builder's close-out & apartments. Banks usually have 10 days due diligence & 5 days to close after the due diligence period. So, we'll need a) bridge loan - hard money and/or rehab loan & b) permanent financing. I like to have financing layout & pre-qualified for both prior to looking for deals.
We do need a reliable financing source, preferably direct lenders that are closing loans nowaday. We are looking to build long term relationship with.