All Forum Posts by: Chris Cambridge

I would calculate this as follows because it's a 6.5 Cap then value at $2.46MM 

If DSCR is 1.35 If DSCR is 1.25

Loan $1.6MM                                      $1.736MM

LTV 65% 71%

Rate 5.5-6%

Term 25 Yr

Mtg Payment $118.5K                             $127k  

Difference would be the DP. He either has access to it or not.

No FHA is too expensive at this price level. I mentioned in a prior post there are stated commercial programs out there that can go up to 75%. The rates are more around 7% to start. There are other options with lower rates and comes with prepays. These are best for metro areas in building without section 8. Basically clean deals get best options. By the way are these all apt buildings or is this 2 apt buildings and a multifam residential?

Welcome to BP. Looking at your credit there are stated commercial programs out there that can go up to 75%. The rates are more around 7%. 

There are other options with lower rates and comes with prepays. These are best for metro areas in building without section 8. Basically clean deals get best options. 

Sponsor option is good option, just make it count. Do a solid deal. 

You can visit bnassets.com/sb-lines-of-credit/ but you may have been through this process.

An unsecured credit line option can be used to purchase, rehab, and flip real estate, allowing you to leverage resources to do more deals, and increase your bottom line on each and every property.
There are source of funds in the market place that our experts have established relationships by auditing banks and compiling a list of those whom lend to businesses without reporting the business owners or investor’s personal credit! This means that the unsecured business credit can be drawn on without fear of damaging our clients debit/credit ratio.
You can access products for Start-Up companies. If you’ve been in business for less than two (2) years, you may still qualify for up to $75,000 in unsecured business capital. For businesses with a 2 year+ history that can go full doc can qualify for $150,000 lines.
Ideally 730+ scores on average gets access to LOC programs. If your credit isn't there and you do have a partner with better credit who wishes to personally guarantee your business line of credit you may be able to use them to acquire capital for your business.

Business credit lines for Real Estate Acquisitions and Business Capital

Tired of paying high interest rates to hard money lenders?

What about giving up half of your profits to a funding partner?

An unsecured credit line option can be used to purchase, rehab, and flip real estate, allowing you to leverage our resources to do more deals, and increase your bottom line on each and every property.

There are source of funds in the market place that our experts have established relationships by auditing banks and compiling a list of those whom lend to businesses without reporting the business owners or investor’s personal credit! This means that the unsecured business credit can be drawn on without fear of damaging our clients debit/credit ratio.

You can access products for Start-Up companies. If you’ve been in business for less than two (2) years, you may still qualify for up to $75,000 in unsecured business capital. For businesses with a 2 year+ history that can go full doc can qualify for $150,000 lines.

Ideally 730+ scores on average gets access to LOC programs. If your credit isn't there and you do have a partner with better credit who wishes to personally guarantee your business line of credit you may be able to use them to acquire capital for your business.

Yes there are programs that offer stated up to $50K and full doc can get you $150K. Credit needs to be about 730 to play ball. These don't report to you personally. Reach out for more info. 

Condos have varying criteria for investment by lenders. Things to consider would be number of units that are rented vs owned as a percentage of total units. Yes there are loans for you out there if you leave it in an LLC. Some of which look past seasoning.

Best way to figure that out is to call developers in the area doing that type of product. Be sure to get the difference between conversion and new construction to have accurate numbers. 

Please ask the questions in a right way that doesn't make it seem as though you are prying into their numbers.

Hey Mr. X, blah blah blah intro, ego stroking... I'm trying to get a handle on some numbers. What price per sf is generally expected when doing a reposition from this asset to that asset that's about x sqft? 

What ppsf should be expected for acquisition and then conversion?

Some guys are actually open to helping. Last month I was helping a friend and was surprised that some opened up here in NYC (of all places)

Jeff a solution would be to get a cash out refi from a blanket for your DP. Remember only a portion of that equity is accessible based upon LTV standards. The cash you get would help determine what price asset you should take down next whether 50 or 150. Actually having cash to put in now opens up the playing field on leverage because you can get an equity cash infusion from another source and go big.

So take the money out stick it in your pocket (aka Hip National Bank) go window shopping. When asked by the salesman, Can I help you? Point to the type of item you want stick your hand in your pocket, watch him pucker up and lay out options for you.