All Forum Posts by: Siraj Alsafar

I definitely do but it depends on the size of the loan, my guys prefer bigger loans. Feel free to connect with me to chat and see if they can help you.

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Quote from @Estela Molini:

We would like advice on how to finance a multi unit warehouse for rental. We will buy the land and build. What are the lenders that can do this out there? Also have 700-800k equity on primary home that could get a second mortgage on and some money down, in addition to very solid monthly income.

Whats the size of the construction loan?

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Quote from @Account Closed:

Hello,

My partner and I are nearing completion on a ground up build in Horseshoe Bay West. We are interested in learning more about what a refinance would look like if we choose not to sell the property.

I am would like to begin connecting with lenders to learn more about this process, what it would look like, and the costs associated.

What information is needed to begin this process?

FYI - This would be our first refinance.

Thanks in advance,

Nick

Hey Nick, I think I have the perfect company to help you but what is the amount of the refi you are seeking and what asset type/location is it? Feel free to connect with me if you need any help.

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Austin, Texas

I could probably do this, but we prefer to work direct to buyers. If we work with agents, sometimes my broker needs the ability to speak with buyers directly. Most agents aren't okay with this but if you are let me know.

If you want to speak to my broker then let me know and we can set up the call so he can explain why/how it works out.

We can probably not only sell you the property portfolio but also help finance the deal in as little as 30 days.

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Let me know if you need a lender with a lot of construction experience. The PM lender I have in mind specializes in CRE loans for development and they have a ton of construction contacts in the state of Florida.

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Panama City, Florida

Quote from @Jay Hinrichs:

Quote from @Siraj Alsafar:

Hey congrats on your success first off! I just had an amazing meeting with a lender in my local area who does a lot of development loans especially 100m+ which they can close in 30 days. They might be interested if you choose to go down this path, I can refer you to them, they prefer 5m+ but I believe they will consider any great loan if you can provide the documentation.

They are currently in the process of helping me finance my first 30 unit apartment building, I only had 10% to put down but it's also being sold under market value so that also helped. I talked to so many lenders who constantly said they could help and then shot me down. If you need help let me know and I can refer you if you need it and can provide proof of funds and other documentation they may ask for.

Connect with me and let me know if I can help!

I would be very cautious of this lender.. not many development ( or any) loans of that size happen in 30 days.. most take months and months to close.. they will give you credit for land equity especially if you paid cash for the dirt.. ( which is what we do ).

I appreciate your caution but they have been doing this for over 30 years and like I said they specialize in that size but some of their smaller loans can take longer.

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San Diego, California

I'd talk to local contractors and get three quotes after they can visit the site and talk to you about your plans. On another note if you decide to go through with it an need an amazing development lender who specializes in loans above 100m in 30 days or even loans between 2-5m at least then let me know and I can refer you to them.

I'm working with them now to acquire a 30 MF property for my first deal with 10% down.

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New York City, New York

Quote from @Matthew Stapleford:

Quote from @Chris Seveney:

@Matthew Stapleford

What type of development you looking to do ? We have experience in many facets but would need a lot more info

Hi Chris, part of my struggle has been figuring out what to turn the properties into. One property is a single-story building with a tenant occupying the front half and vacant space in the back half. The other property is a vacant four-story building that needs a lot of work. I think it may be best to just demolish both buildings and start fresh based on the amount of work the vacant building needs. Some sort of mixed-use building (i.e., ground-floor retail with apartments above) may make sense there. There is a $14 million Development kicking off at the other end of the block.

If you decide to continue with this project and you need a construction or renovation loan let me know! I just had a meeting with a lender I have been raving about, they are working on helping me acquire a 30 unit building with only 10% down so they understand value when they see it.

If this is something you decide to pursue and get an investor, plans etc and you need a construction loan let me know! I'd be more than happy to refer you to them, they specialize in development loans above 100m which can close in 30 days but they also are happy to look at loans that are a minimum of 2m-5m.

If you need help and an amazing lender connect with me and I'll give you their information.

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Do you have a lender who specializes in construction? I'm a licensed FL agent and I just found an amazing lender who I had a meeting with just two days ago. They are helping me with a 30 unit apartment building and I know they specialize in construction loans of 100m+ but if you have something above 2-5m they will look at that too.

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Tampa, Florida

Quote from @Josh Garcia:

Hey BP community, is anybody familiar with Okeechobee. Have a land opportunity but wanted to get some feedback on any major hurdles before I start the process

What are your questions and what are you working on?

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Fort Lauderdale, Florida

All Forum Posts by: Siraj Alsafar

Siraj Alsafar has started 3 posts and replied 41 times.

Post: Good Lender for Self Storage Facilities ??!

Post: Need referral for commercial building financing, buying the lend to build 10 units.

Post: Refinance Out Of Hard Money Loan

Post: Seeking Assistance: Finding a Seller for a $100 Million Single-Family Home Portfolio

Post: Dumb idea being my own contractor on commercial construction project.

Post: Starting out in ground up construction

Post: Development cost NYC (Brooklyn)

Post: Commercial Redevelopment in PA

Post: Building New Construction in Florida

Post: Anyone familiar with Okeechobee area?