All Forum Posts by: Carl Crump

@Mike Stohler Thank you for the quick reply. I am not very familiar with CMBS loans but they seem complicated lol. If it is a way to get this closed I would be happy to take a look at some options.

Thank you!

Hello,

I am working with some people trying to purchase a hotel in southern CA.  I realize with everything going on these are not the easiest loans to get right now.  Does anyone know lenders that can finance hotels in the $35M+ range?  It is for a purchase and the hotel is actually making money during COVID.  Any help would be greatly appreciated.  

I looked through the lenders on this site but there are not any for hotels.  

Thank you!

@Mike Stohler @Nichole Stohler Hello.  Do you have recommendations on good lenders for Hotels whether it be SBA or other means.  I am in CA but I know a lot of them will be nationwide or cover multiple states.  The amounts needed are about $30M+.  I think SBA may have a lower limit?

Thank you!

It is in Los Angeles so it is just a SFR. I will keep looking for local lenders. thank you!

@Odie Ayaga  Yes unfortunately the seller is carrying 10-15% which makes it more difficult of course.  

I will try to reach out to him thank you @Moises R Cosme

Hello,

I know lending times are very tough right now and hard money was hit hard too. Are there any hard money or private money lenders offering 75 LTV right now for an investment purchase? Any that will allow seller carry as well? Properties are in southern CA. Any help is appreciated. Loan amounts are in the $3M range.

Thank you!!

@Don Konipol  Thank you that is all very useful and eye opening information.  I know this will not be easy or even quick probably.  Raising capital will be a main obstacle as well as the deal analysis and package presentation.  I do plan on bringing in people to help with the areas I am weakest especially on the first deal or two.  

I am not afraid of the work or challenge so I hope to be letting you all know about my first closed deal soon as well as my progress/hurdles along he way.  I have a 9-12 month outlook to get the first deal done and then have a good educational foundation and infrastructure to roll on from there.  

Thanks!

@Roni E. Are you talking about the Ultimate Guide to Apartment investing course from Michael Blank?  I did see that and it looks interesting and like a great place to start.  It does mention it comes with the SDA.

Thank you. 

@Logan Freeman I have done SFH and the sustainability and amount of work seems like it can be applied to syndication for much larger returns. I have wanted to work towards multifamily for a while and have read and heard a lot about syndication and it seems like a great fit. I also have some existing contacts that may make the transition a little easier.

For multifamily I know CA may not be the best market I am open to looking into other markets once I get to the market research phase.  I believe brokers and investors will be the top two priorities as well as a good attorney.  Due diligence will be a big deal for sure in all aspects of this strategy.  I am just excited to learn now and start building a team. 

Thanks!