Real estate blog entries tagged with hard money by Peter Maclennan - Commercial Hard Money Lender (Owens Financial Group)

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hard money: Locked Up in a Broker Daisy Chain - 04/22/08 05:59 PM

What is a Daisy Chain? I field phone calls from commercial loan brokers all day long discussing the different loan scenarios that come across their desks. Our company advertises in the Scotsman Guide and this generates some “cold” incoming calls.
Frequently, we will get a phone call from a Broker A … (3 comments)

hard money: When Hard Money Pays - 04/09/08 07:03 PM

It is not often that borrowers enjoy using a hard money lender to finance their projects. However situations do arise that demand the services of a commercial hard money lender. Let me illustrate this point with a story.
A few nights ago, one of the sinks in our house was plugged. Because … (0 comments)

hard money: A Busy Week - 02/01/08 06:59 PM

The week has been a whirlwind. I worked on sending out two applications and worked on sending out a loan closing package.
The process here is streamlined but there are a lot of T's to cross and i's to dot. The loan was very complex with many moving pieces and a somewhat … (0 comments)

hard money: Story Lenders: What's your story? - 01/17/08 06:28 PM

As a commercial hard money lender I have to be good listener. The reason is that everyone has a story to tell about their need for money. Some stories are better than others.
What should you include in your story? Introduction A good literary story introduces you to the characters, the … (0 comments)

hard money: Commercial Hard Money Construction Loans - 01/02/08 06:15 PM

I get at least one phone call a day requesting construction financing. (Owens Financial Group does fund commercial construction projects on a limited basis.) Underwriting a construction loan is handled differently than a typical commercial loan.
Lenders desire to know that a developer has enough money invested in the project to … (0 comments)

hard money: Underwriting a Commercial Loan - 10/23/07 02:00 PM

How Commercial Mortgages are Underwritten Commercial mortgages are underwritten differently than residential loans, hence the loan package needs to be assembled in a different fashion. When dealing with improved commercial real estate the property's net income is the most important factor in underwriting the loan.
Debt Service Ratio The property's … (3 comments)

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