Lima One Capital for Investors

[George Carrasquillo]

Who has any experience with Lima One for either rehab or rental lending?

[Ceril S.]

@Christian Sifuentes We closed in early december with a deal with LimaOne - just put in for my final draw today as our property closed out the permits and inspections yesterday. Not sure why other people had issues. This was our 6th property but our first one with a HML so I was a bit nervous. (and proving that we had experience already landed us better rates - yay!) Everyone I dealt with either answered my question right away or sent me to the right person for my question. The draws worked out fine - once requested, inspected within 2 days, $ wired the day after. Being able to just put in 10% of both purchase and rehab changes the game for us. (They do require that you have some reserves to start rehab) I was totally against using a HML before this, but a deal fell into our laps when our capital was being used in another property. We are currently looking for a bank to refi the loan out, but we would totally work with LimaOne again.

PS. This is for a BRRR deal buy and hold rental.