All Forum Posts by: Michael Weller

@ Marvin S. If you care to discus your strategy in greater details, you may give me a call and I may be able to give you some pointers as well

Mark,

We provide bridge financing on asset based income producing properties. Funding starts at $2MM-$30MM+ interest only. Contact me for additional details.

@ Marvin S. What you could try to do is install an addendum in your EMD contingency clause that would give you say 21 days to do your due diligence and have that money come out of the gap funding at closing.

If the Seller agrees, that is.

Marvin,

As per our phone conversation, we provide bridge financing for income generating CRE, multifamily, hotels, storage, warehouse, retail etc,etc. We also purchase notes.

Hi Gunnar,

If you can find competent and reliable property management, a financial institution will not have much of a problem funding your deals especially if you have a track record of doing long distance projects.

If I may be of any assistance, feel free to get in touch.

Hi Dennis,

If you are a Newbie, I would not recommend it. The court house steps could be an unregulated(street) version of 'Shark Tank' where experienced Bidders could gang up against you by running up the price and leave you holding the proverbial bag. Of course if you have deep pockets and don't mind paying for the experience, then you may want to give it a try.

@Eric Dailey,

I know of a program where the residence is flipped back to the home owner who is upside down in his arrangement with the bank. It has to be a non confirming loan, meaning its not owned by either Freddie or Fannie.

How it works is,the note is bought from the bank at a discount of say 65%, LTV and provided bridge financing until home owner can be taken out with a long term conventional loan. It's a win win win for all concerned.

Marshall,

I don't know how much exactly you are looking for but based on your experience and assets you could possibly qualify for bridge financing. Contact me if you would like to discuss this further.

@Richard Decoste, you apparently see reading material on CRE as less desirable than real time application of the subject matter. As a Novice you may want to consider both. Anyhow, for starters by way of comps, find out what the Cap rate is in a 2 mile radius for mixed use commercial of similar size.

Find out the current NOI and if the subject property needs an upgrade, multiplying that figure (NOI) by 9 should place you in the neighborhood of where you want to begin considering where your offer should be.Of course you must do due diligence but you could start with this.

Hi Mark,

It depends on what market you are in but 7-8% Cap is quite normal for multifamily. For mobile homes you are looking at 9.5-10%. Again it depends on where you are.