All Forum Posts by: Jason K.

Hey, I have someone ive been working with for a while. They finally purchased their first investment property in FL. Owns it free and clear and put a few hundred thousand into it. Currently sitting vacant. Great credit, good liq, but zero experience. He partnered up with a local GC but he only has experience building, never owned or flipped anything so no connection on title (but he does have similar GU experience) which I know a lot of lenders dont consider as true experience. GC is willing to PG. Project is shovel ready

Anyone lending on something like this with reasonable LTC/LTV ratios ? Trying to stick to private/bridge

Thanks

You should still be able to do a ground-up loan. It will require a heavy down payment though.

Any scenario where the borrower wakls away happy and doesnt get hit over the head at closing ?

What do you mean? Did a lender change terms on you?

No I mean is there any situation where the borrower doesnt have to come to closing with a hefty amount of cash and actually gets favorable terms based his situation ?

0 Votes

Miami, Florida

Quote from @Chris Seveney:

Quote from @Jason K.:

Anyone lending on something like this with reasonable LTC/LTV ratios ? Trying to stick to private/bridge

Thanks

I just got back from the NPLA conference and met with a few lenders who do GUC with no experience. As others mentioned requires more down payment and will be more expensive but its available.

Rate and origination isnt a factor here, the hefty down payment is though for sure. Curious to hear about those lenders if you dont mind sharing

0 Votes

Miami, Florida

Quote from @Erik Estrada:

Quote from @Jason K.:

Anyone lending on something like this with reasonable LTC/LTV ratios ? Trying to stick to private/bridge

Thanks

You should still be able to do a ground-up loan. It will require a heavy down payment though.

Any scenario where the borrower wakls away happy and doesnt get hit over the head at closing ?

0 Votes

Miami, Florida

Anyone lending on something like this with reasonable LTC/LTV ratios ? Trying to stick to private/bridge

Thanks

0 Votes

Miami, Florida

All Forum Posts by: Jason K.

Jason K. has started 1 posts and replied 5 times.

Post: No experience GU loans ?

Post: No experience GU loans ?

Post: No experience GU loans ?

Post: No experience GU loans ?

Post: No experience GU loans ?