All Forum Posts by: Sherri D.

Hello,

I own a duplex with two three bedroom/one bath units that I need a refinance/rehab loan by September 28, 2017 (current loan maturity date) and am looking for a $75,000 loan for 6 months 15% APR. The ARV of the property is estimated at $125,000 which puts the LTV at only 60%. I have a detailed loan proposal complete with cash flow and profit and loss schedules if interested. Please contact me ASAP with any questions!

Thank you!

Hello,

I own a duplex with two three bedroom/one bath units that I need to refinance and rehab by September 28, 2017 and am looking for a $75,000 loan for 6 months 15% APR. The ARV of the property is estimated at $125,000 which puts the LTV at only 60%. I have a detailed loan proposal complete with cash flow and profit and loss schedules if interested. Please contact me ASAP with any questions!

Thank you!

Hello Jorge,

Thank you for your question. The answers are because I just refinanced at 65% LTV so I am just trying to get at a small portion of the equity left with fresh appraisals already done. Plus, most lenders only do 65% LTV and require 1st lien position. Lastly, my credit is improving but still needs some work so I am looking for an asset based private lender that will look at the asset, the quality and strength of the deal and the fact that I have never defaulted on a loan as there are understandable reasons for my credit score. Banks and organized hard money/private money lenders have minimum credit score requirements that I usually don't meet. And if I do, they only want 1st lien position and would most likely require another appraisal even though I just had one done.

Regarding the HELOC, again with the credit.

But if there is someone out there just wanting to put their money to work with it covered by more than enough collateral and make more than market for a return, then this is the deal for them!

Thank you!

Hello,

Between two properties I own there is $123,900 of equity. I need to get access to just $35,000 (less than 30%) of it.

I am willing to extend 2nd lien position as both have 1st mortgages, 15% interest only for 12 months. Anyone interested, please contact me at [email protected].

Thank you!

Sherri

Hello,

I am looking for a 2nd mortgage for a 5-unit rental property I own. I have a 1st mortgage for 65% LTV and would like to cash out $35,000 from the remaining value left. I have an appraisal that was completed last month that puts the value of the property at $235,000.

Anyone interested, please contact me at [email protected]. There are several options for terms.

Thank you!

Sherri

For the first project #1 where I needed to refi for $110,200 I used Cogo Capital and my long time private investor. For project #2 I used another private lender Blackstone Realty, and we're doing a JV.

Yes, I was able to get both financed. Thank you!!

Hi Kevin, yeah, not quite at that level yet, but I am headed there!

Hello Reginald, if you would like to fund the whole thing that would work too! Just let me know next steps regarding submitting an application and what your loan parameters are regarding credit, terms, etc.

Thank you!

Sherri

Hello,

I have a 12-unit property with a purchase price of $375,000 that I am seeking a $105,000 loan to be used for down payment funds and project contingencies. This would be a 6 month loan, 2nd lien position, 12% APR, interest only payments regardless of prepayment with a 10% equity payout up to $1,500 at refinance.

The calculated ARV for the property is $702,000 and needs rehab of $37,500.

If interested I have a more detailed loan proposal prepared, complete with profit & loss and cash flow statements. For this and to answer any additional questions, please email me at [email protected], or reply to this post.

Thank you!!

Hello,

I have a 12-unit property with a purchase price of $375,000 that I am seeking a $105,000 loan to be used for down payment funds and project contingencies. This would be a 6 month loan, 2nd lien position, 12% APR, interest only payments regardless of prepayment with a 10% equity payout up to $1,500 at refinance.

The calculated ARV for the property is $702,000 and needs rehab of $37,500.

If interested I have a more detailed loan proposal prepared, complete with profit & loss and cash flow statements. For this and to answer any additional questions, please email me at [email protected], or reply to this post.

Thank you!!