All Forum Posts by: Fred Shatzoff

@Reuven Krumbein  So ask the seller?  Does the property need work?  Is there something not normal about the property?  If he is giving you a good rate for a long period of time.  Then maybe consider taking it.  

@Jay Malaviya  You can get a 30 year fixed rate loan with these programs.  What is your definition of high rates? Some rates are as low 5.25%.  If property cash flows and you qualify does the rate matter.  Remember Fannie Mae only allows 10 loans and it is a full doc loan.  The more rentals you have the harder it becomes to qualify.

• 1.FICO 500+ Borrower must be at least 1 year removed from discharge or dismissal of a BK. Low FICO severely lowers the LTV.
• 2.Loan Terms: 12 -24 months, interest only.
• 3.Loan Amount: $100K to $7M.
• 4.Max LTV/ARV: Lender typically finances 75% of the purchase price and 100% renovations. 65% -70% on refinance cash out.
• 5.Interest Rate: 8.99%+.
• 6.Property Types: 1-4 unit, Condos, Townhouses, 5 -50 Units.
• 7.Lending Territory: Nationwide except for North Dakota, South Dakota and Alaska.
• 8.Closing Time Frame: 10-14 Days.

To Find out More Contact Fred Shatzoff 551-272-9066 or

@Cody Harris  There are options. The most important thing is experience if someone is new it becomes a little more difficult.

@Jay Malaviya You can get a commercial loan in your LLC name, They will run your credit but the loans do not show up on your credit report .

• 1.FICO 660+
• 2.Loan Terms: 12, 18, & 24 months, fixed interest only
• 3.Loan Size: $75,000 to $1,000,000
• 4.Max LTC/LTV: The lender will finance up to 85% LTC, Loan to Cost & 100% of the construction (done in draws).
• 5.The Loan amount cannot exceed 70% of the ARV.
• 6.Purchase w/no rehab = 70%.
• 7.Refinance as is = 65% LTV.
• 8.Property Types: 1 -4 Units, Condos and Townhouses.
• 9.Interest Rate: 7.95% 11.25%.
• 10.Lending Territory: AZ, CA, CO, CT, DC, FL, GA, IL, KY, MA, MD, MI, MN, MO, NC, NJ, NV, NY, OH, OK, PA, SC, TN, TX, WA, AND WV.

To Find out More Contact Fred Shatzoff 551-272-9066 or

@Alex Moazeni When you say you are maxed out do you mean you have 10 Fannie Mae loans? If so the alternative is get a non qm loan. These are strictly to LLC's, no doc, no limit on how many properties you can own, 30 year fixed are available with no balloon.

11 Capital Finance is a nationwide commercial mortgage company that works with hundreds of lenders in the United States.

On the Permanent Side we do:

1. Bank Loans (conventional and SBA loans 1M+).

2. Bank Alternate Stated loans (these lenders are not banks and borrowers do not need to submit tax returns to qualify for these types of loans)

.

On the Temporary Side we do:

1. Renovation loans (for 1-4 unit investment properties and some standard commercial properties),

2. Bridge Loans (for 1-4 unit investment properties and commercial properties) and

3. Ground Up Construction loans (for 1-4 unit investment properties).

To Find out More Contact Fred Shatzoff 551-272-9066 or

@Derek Olmschenk There are lenders that will lend to an LLC with a 30 year fixed, 5/1 arm and 7/1 arm with no balloon. Yes rates are higher, most lenders offer a no do doc loan.

1. 1. Fico: 680+.
2. 2. Loan Size: $100K to No Max.
3. 3. Max LTV: 75% for 1 to 4 Units. 80% for Commercial Properties.
4. 4. Debt Service Ratio: 1.25 + Lender does not factor in vacancy.
5. 5. Interest Rate: 4.00% -6.25%.
6. 6. Property Types: 1 -4 Units and Pure Commercial Properties.
7. 7. Use of Funds: Purchase, Refi, Cash Out Refi.
8. 8. Territory: Call me.
9. 9. Required Loan Docs: 3 years tax returns (personal and business), Personal Financial Statement, Current Leases, Rent Roll.

To Find out More Contact Fred Shatzoff 551-272-9066 or