All Forum Posts by: Jonathan Casillas

Lines of credit and loans from $50,000 -$5,000,000 (allowing you to purchase several properties within a 12 month period)

-Fund lesser of 80% of Acquisition and Rehab Costs or 65% of After Repair Value (ARV) on Residential Properties (1-4 units). We fund rehab draws up to 80% of the rehab costs.

-Fund lesser of 75% of Acquisition and Rehab Costs or 60% of ARV on Multifamily Properties (5-30 units)

-No application fee for credit line approval

-Monthly payments are interest only

-No prepayment penalty (3 months minimum interest)

-12%, 2 points on each draw

-Currently lending in approximately 48 states (exclusions include CA and NV)

-We only lend on Non-Owner Occupied Properties

-Borrower must have prior investment property experience

-Experience: Borrower must have previously purchased at least 2 investment properties.

-Liquidity: Cash to fund their equity requirement / Must have 20% of loan request in verifiable liquid assets.

Minimum FICO 620.

Minimum Net Worth: $150,000.

We will evaluate substantial credit issues, foreclosures/short sales.

Borrower must be free of significant open judgments and pending litigation.

Contact me for more info and to start the process today.

Jonathan Casillas

Foxworth Commercial Capital Sales Director

www.foxworthcommercialcapital.com

O: 800.278.1239 ext. 700

C: (919) 901-0872

Conference Line1-302-202-1108 (156465)

Private Funding for Projects: $10 million to $5 billion

I am in the process of building out a small group of interconnected business. There will be one 501 and several holding companies.  I am looking for recommendations on a good accountant. It would help if they where in NC (where I will be moving in about a month) but I am ok with a telecommuter. 

The closer to the 620 FICO you have the better chance of qualifying. Also be aware that the higher the FICO (credit score) the better your chances of getting a better rate on your mortgage. My 2 cents work on getting your score ABOVE a 620 to both better your chances and lower your rate. If you have any Student loan, Child support, car payments make sure you have them up to date for a few months.

Great talking to you today. I will be working on getting what your requested as soon as possible. 

Are you looking at buying Multifamily (5+ units) or large grade commercial properties but do not have the financing? We can help fund your deal.

• advance rate - up to 80% of purchase price
• Interest rate starting at 9.5% (depends on underwriting)
• Term ranging from 12 months -39 years
• Min loan amount 100K
• time to close= as low as 15 business days
• We also offer LOC that can be used rehab and other business costs (700+ FICO)

If you or someone in your circle (customer, agent,broker, investor) is in need of a commercial real estate broker who understands projects from an investors perspective ~ please contact us today.

Jonathan Casillas

Foxworth Commercial Capital Sales Director

www.foxworthcommercialcapital.com

O: 800.278.1239 ext. 700

C: (919) 901-0872

Conference Line1-302-202-1108 (156465)

Private Funding for Projects: $10 million to $5 billion

Ok so some background on me. I have been in some sort of real estate ( construction contractor, landlord, flipper, loan officer ext.) since around the age of 17 ( I am now 32yrs old). I am now at the point where I am looking to invest out of state. My question is what extra questions and or precautions do you take when hiring a management firm that will be running a investment that will NOT be in driving distance? I am planning on flying in to the location and networking with people face to face. I will also of course have done my "desktop research". As well as have my attorneys look over the company and the contracts. I am more interested in the things you have or wish you would have done above and beyond that of the firms you can always do a drive by on? 

welcome to BP. Its a great place to network and learn.

Before anyone can help your missing some vital info. Some of them are:

ARV

estimated build out time.

Increase in positive cash flow (if any)

Feel free to contact me with the answers to these questions and we will see how we can best help you.

We are not local (based in Delaware). That being said we do commercial lending in all 50 states. Feel free to contact me if interested in how we could best help you.

We facilitate both conventional and non conventional loans in all 50 states as long as the property is non owner occupied. We also have LOC options.