WE HAVE MONEY AND ARE LENDING IT!!!!

As we enter the middle part of the 2nd quarter of '09,  we are still going strong lending money for commercial and residential hard money requests. The quality of the loans remain incredibly high as we are getting borrowers who have tremendous equity and credit looking mainly for short-term bridge loans. 

The opportunities have never been better for brokers and borrowers to contact us to discuss their hard money needs. We do not have prepayment penalties and do not rely on minimum credit scores, tax records or formal appraisals. We do not charge upfront fees and can fund quickly.

CALL ME TODAY AT 415-760-2338 OR REPLY BY EMAIL TO: Agilberg@aol.com  AND LET'S TALK!

California hard money lenders - commercial and residential bridge loans, private money short-term, equity loans - san francisco, marin, napa, sonoma, walnut creek, oakland, san mateo, atherton ,menlo park, palo alto, san jose, los altos, los gatos, sunnyvale, santa cruz ,monterey, carmel, los angeles, beverly hills, santa monica, hollywood hills, malibu, pacific palisades, venice beach, encino, sherman oaks, tarzana, calabasas, northridge, agoura hills, santa barbara, orange county, laguna beach, newport beach, dana point, san clemente, anaheim, irvine, carlsbad, la jolla, del mar, rancho santa fe, san diego, coronado, chula vista, palm springs, sacramento, lake tahoe, truckee

In my previous post, I discussed a checklist of factors to consider when evaluating loan requests for commercial properties. Today, I will list those factors to consider when looking at residential requests. Notice that there is a crossover of many of the factors listed from the commercial loan underwriting checklist.

 CHECKLIST OF FACTORS FOR RESIDENTIAL OWNERS SEEKING A HARD MONEY LOAN:

• Location - is there a large inventory of homes on the market? if so, how long have they been on the market and have there been substantial price reductions? Are there numerous foreclosures in the neighborhood? What is the demand for these types of homes? Is the home situated in a sought after school district? Is there shopping and transportation close by? Is there pride of ownership in the neighborhood? 
• Property Type ( Sfr, condo, townhouse, tic, etc )
• Property Condition and Floor Plan ( Older, newer construction, remodeled, fixer, etc )
• Loan Amount  ( we do loans from $100K - $20M )
• Loan Position (1st or 2nd?)
• Property Value  ( Is there a recent appraisal or broker opinion - who did the evaluation and when?)
• Purpose of the Loan ( What will the funds be used for? Is it a purchase or refi? If it's a purchase how much are they putting down and what is the source of the downpayment? If it is a refi, are they getting cash out? If it is cash out , what will he funds be used for - business or personal reasons? Will they be replacing an existing loan - and if so with whom?)
• How Long Is the Loan Needed For?
• What is the Exit Strategy? ( Refi, sale, etc )
• Any Other Collateral Available?
• What is the Borrower's Income and Overall Financial Situation?
• If a Refi, How Long Have They Owned the Property  (What did they pay for it and any improvements?)

HERE IS A LIST OF ITEMS TYPICALLY NEEDED TO ASSIST IN UNDERWRITING:

• 1003 Loan Application W/ a Schedule of Real Estate
• Credit Report  
• Preliminary Title Report ( w/ payoffs or explanations on items listed )
• Appraisal and/or Broker Opinion Using MLS Data W/ Digital Photos
• Purchase Contract ( for purchases )
• Any Reports ( inspection reports -  termite , roof, foundation, etc )
• Explanation for Use of Funds and Exit Strategy
• Copy of Senior Note and Current Mortgage Statement ( if doing a 2nd )
• Rental Agreements (for non-owner occupied loans )
• HOA documents ( for condos, townhouses, etc )

Appraisals simply do not tell the whole story. I like to carefully review MLS data on properties located within 1/4 to 1/2 mile of the subject property and look at all of the  Actives, Pendings, Solds, and Withdrawn Properties and focus on days on market  - usually using only data within 3-6 months of the current date.

Note: if the borrower is married or holds title with another individual or entity, it is important to know that all parties to the loan are on board with the concept of doing the loan. If the property is owned by a Trust, an estate,  or an LLC for example, then it is also important early on to get the proper documents relating to the particular entity/ borrower to the title company for their review.

For more information or a quick quote, contact me at:

Tel: 415-760-2338  or Email: agilberg@aol.com

Reminder:  We are a direct hard money lender lender doing both residential and commercial hard money loans covering all of California including:

San Francisco Marin County Sonoma Santa Rosa Napa Contra Costa Walnut Creek Alameda County Oakland San Mateo Hillsborough Redwood City Santa Clara County San Jose Palo Alto Santa Cruz Monterey Carmel Los Angeles Beverly Hills Santa Monica Palos Verdes Venice Orange County Laguna Beach Newport Beach Irvine San Diego La Jolla Carlsbad Del Mar Coronado Lake Tahoe Sacramento

I am asked daily what my "sweet spot" is for doing hard money loans. And I always say - " it depends on the deal." There are many factors that go into deciding whether a loan request is fundable and often it truly becomes more art than science. For commercial properties, I have developed a list of factors to consider when getting those requests.

CHECKLIST OF FACTORS TO CONSIDER FOR COMMERCIAL PROPERTY OWNERS SEEKING A HARD MONEY LOAN:

• Location of Property 
• Property Type, Condition, and Strength ( age, rents/tenant profile, construction )
• Loan Amount
• Loan Position (1st or 2nd?)
• Property Value  (who did the evaluation and when?)
• Purpose of the Loan ( purchase or refi? )
• How Long Is the Loan Needed?
• What is the Exit Strategy? ( refi or sale? )
• Will the Property Be Able to Debt Service the Loan?
• If Necessary, Is There Any Other Collateral Available?
• What is the Borrower's Overall Financial Situation?

CHECKLIST OF ITEMS TYPICALLY NEEDED TO ASSIST IN UNDERWRITING:

• 1003 Loan Application W/ a Schedule of Real Estate
• Credit Report
• Rent Roll
• Lease Information
• Income / Expense Statement
• Preliminary Title Report
• Appraisal and/or Broker Opinion W/ Digital Photos
• Phase 1 and/or Phase 2  ( only in some cases )
• Explanation for Use of Funds and Exit Strategy
• Financial Statement
• Copy of Senior Note and Current Mortgage Statement ( if doing a 2nd )

With respect to commercial loans , we look at: Apartments, Retail, Office, Storage, Industrial, Strip Centers, Hotels, Gas Stations, Entitled Land. And as a reminder, we lend up to 60- 65% LTVs for both residential and commercial properties and our loan amounts typically start from $200,000 to $20,000,000.

For more info or a quick quote, call me at 415-760-2338 or reply by email to agilberg@aol.com

Art Gilberg here w/ Trust Deed Investments, Inc. I wanted to let you all know that despite the tremendous drop in the stock market and the tightening of the credit markets, our firm is well-positioned and flush with capital and aggressively looking to lend up to $20M on both residential and commercial properties throughout California.

Here again is a brief summary of our private, hard money equity loan program:

- 1st and 2nds - up to 65% ltvs
- no prepayment penalties
- low doc requirements - no ficos, no tax returns, no formal appraisals
- fast underwriting and funding
- includes purchases, refinances, construction, cross collateral, conversions, TICs, short-term bridge, foreclosure/bankruptcy bailouts
- competitive wholesale rates/fees

If you would like more information or want a quick quote on a particular loan, please feel free to call me anytime at 1-800-924-2209 or 415-760-2338 or send an email to agilberg@aol.com. And feel free to forward my information to anyne who may be looking for a fast, reliable equity funding source.


Art Gilberg
Trust Deed Investments, Inc. - Direct Hard Money
San Francisco, Ca 94109
Tel:   1-800-924-2209 or 415-923-5234 or 415-760-2338
Email: agilberg@aol.com

We're getting more requests than ever for private money / hard money loans. The worsening credit markets are forcing borrowers and brokers to seek out alternative funding sources. We are filling that need now more than ever - both residential and commerical equity loans. We lend up to 65% loan to value and up to $20m on any one transaction. The documentation is easy and our response to a request is swift.

Feel free to contact me anytime if you a have a question about obtaining a private money equity loan.

California Direct Hard Money Lender - Over 25 Years As A Direct Source of Funds

- 1sts & 2nds - up to $20M - up to 65% LTVs
- residential and commercial properties
- no prepayment penalties
- no ficos, no tax returns, no bank statements
- fast funding
- competitive rates/fees - email or call me for a quick quote
- refinances, purchases, investor bridge, construction, probate estates, foreign nationals, foreclosures, bankruptcy and divorce buyouts, land, cross collateral


Art Gilberg
Trust Deed Investments, Inc. - Direct Hard Money
San Francisco, Ca
Tel: 415-760-2338
Email: agilberg@aol.com