All Forum Posts by: Erik Zimerman

My post is fake??

What a strange comment. Spam for what? Are you interested in my homes? Some of them staged and listed for sale or rent.

Appreciate your post which is as accurate as it is polite.

Thanks. But who would do it even at a higher apr, say 15%? Any ideas?

Greetings everyone. I am motivated to monetize equity on up to 5 high end brand new construction SF in the Miami-Dade area (Miami Beach, Surfside).  Not sure if to rent them all and wait for a better market in the future or find cash buyers for some, even if at a discount.

The properties cash flow positive and give very nice returns in this environment if rented.  The price ranges from 4 to 6 million on each, with one being more expensive and on the water. I would consider selling equity, or selling, or renting & then selling.

In this high rate environment, selling them at a reasonable price would take time and I am motivated to liquidate or monetize some or all of the portfolio or its equity fast. Don't what kind of folks like to buy or invest in portfolios like these... of high end unique properties in very desirable neighborhoods. 

Appreciate any advice or connection to interested parties. Thank you.

Thank you.

We are looking in the range of $500k for the second positions. Could vary depending on the property.

These are SF, not condos. Thank you.

Greetings all. We own a portfolio of homes in the Miami area (Surfside, Miami Beach, Bay Harbour...). These are mostly new construction homes with a first position and plenty of equity. Values from $4 to $15 million each. We are interested in someone who can provide a second position loan of on some of these. We are a prime lender as far as credit worthiness, and there is plenty of equity. A lender that could go up to 80% LTV would be ideal, but even up to 65% would be useful for us in certain situations. We understand the rates might be somewhat higher for being a second position, that is ok with us.

Most lenders will just go through the motion of trying to refinance the entire position, even if they tell you otherwise at first. Are there folks out there, private money, that will provide second positions loans? Short term or long term? Thank you.