construction loan: Commercial Mortgage Warren RI. - 01/19/16 11:30 PM
If you are looking for a commercial mortgage in Warren RI my office is a good place for you to begin your mortgage application process.
Right now the commercial mortgage and commercial real estate in Warren is strong. Especially the multi family segment of the market.
My office has both traditional lenders offering very competitive programs. We also work with many lenders who are more forgiving about damaged credit or weak tax returns and can offer commercial mortgages based in most part on the equity in your investment property.
My office also has lenders that offer cash out refinance mortgages along with a variety … (0 comments)

construction loan: Hard Money Pawtucket RI. - 01/19/16 11:06 PM

 
Hard Money in Pawtucket RI.
Real Simple Message Here. If you have a property or project that doesn't quite fit in with a bank but has a strong amount of equity, a private lender might be a good option for you.
My office works with hard money lenders looking for the following scenario's...
*Fix & Flip.
*Fix & Fill.
*New Construction.
*Rehab.
 
Generally there are down payments expected based on the actual project and figures. Most times, the cost of the repairs and rehab can be built right into the loan and you can draw these funds as need be.
 
If you have a project in Pawtucket, East Providence, … (0 comments)

construction loan: After Repair Value Loan. ARV Loan. - 12/28/15 01:51 AM
As a commercial mortgage broker I get to see some really exciting loan products.
Here is an overview on a commercial mortgage the assigns value to the property based on repairs/renovation  not yet done.
This is not an official offer to lend but simply a look at some guidelines.
Collateral: 1-4 family non-owner occupied residential real estate.
Term: 12 months.
Loan Amount: $75k-2.5M.
Loan to Value: Up to 65% of the After Repair Value!
Credit Scores: 650 Minimum.
Experience: Must provide proof of prior rehab investment experience.
Closing: As few as 10 business days.
 
Naturally, you should call myself or a broker you normally deal with to discuss your exact project … (0 comments)

construction loan: How does a rehab loan work? - 12/26/15 12:30 AM
How does a rehab loan work.
As a commercial mortgage broker this is a common question I hear. More specifically the question is really about how does the borrower get their funds to rehab their property. A commercial rehab loan can work several different ways.
With the big picture there are two basic ways the funds are released. The loan can pay as you go or the loan can pay as you need. Depending on the borrowers financial position and cash on hand one of these options may not work, pay as you go.
Pay As You Go. With this pay out method funds … (0 comments)

construction loan: What is Hard Money? - 01/31/15 02:10 AM

What is Hard Money?
A hard money mortgage is an alternative to borrowing money from a bank or credit union.
The hard money mortgage is typically based on the subject properties equity with only a small amount of attention paid to the borrowers credit.
Loan amounts vary greatly from lender to lender based on what their comfort level is. Some private money lenders will not lend more than 50% of the properties value, while some will consider going as high as 75-80%.
Understandably, with the greater risk that these loans come with to the investor, rates and fees tend to be a bit more than what a traditional bank … (5 comments)

construction loan: Fix & Flip with Zero Down. - 09/04/14 12:07 AM
 
One of the most common loan inquiries I get is from a client who has found that perfect diamond in the rough that they want to polish up real nice and then sell quickly for a boat load of money. Usually this client has never flipped a property before or they have been a sub contractor plenty of times, watched someone else do a flip and think they know what to do.

The problem is that they are rich in dreams but broke when it comes to the skin in the game. The request is that a private lender will … (0 comments)

construction loan: Hard Money Loan in Action. - 08/31/14 11:51 PM
Here is a before and after showcasing Hard Money in action.
This client had originally gone to a local conventional lender who said "Yes" before they said "No". Party poopers...
A Private Money lender was able to come in and save the day!
Don't let an opportunity pass you by because of a banks indecision and tons of red tape. Private Money offers speed and common sense opinions on deals like this.
Jason
 
               
 
 
… (0 comments)

construction loan: Both Activerain and Private Money in Action... - 09/23/13 06:13 AM
This blog post was originally titled "Private Money in Action" however when I was posting the following pictures it occured to me that this lead and eventual closing came to me through Activerain. Pretty cool.
 
Anyway, telling the story with words is one thing. Sometimes it's nice to see the story told in pictures. These pictures are from a new construciion loan (originated by my office) in which the loan helped my client get control of the land, prep it for a new modular constructed home and assemble it.
 
Here is the empty lot...

One section delivered...

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