4Rmgt 0 Report post Posted May 6, 2004 How many times has it happened to you? You are about to close on a commercial property deal and the you cannot get the financing from the bank. I have an alternative, commercial loan using private capital, and can arrange for commercial loans up to 90% of Loan To Value (LTV). A commercial loan is a loan on any commercial entity. If you buy a business that is the obvious one, but any rental property that has 5 or more units (legal units) qualifies as a commercial property. A mixed-use building is commercial. I am a private investor myself and deal with other private investors. Private investors use their own money so they are not encumbered with stringent government bank regulations and statutes that hinder institutional banks. Individuals, not cumbersome loan committees, make lending decisions. Being unrestricted, investors often think outside the box so that they can design complex, sophisticated, and creative loan packages. Share this post Link to post Share on other sites
Andrew Ikeda 0 Report post Posted May 7, 2004 Hello Ryan, I'd be interested in hearing more about your commercial loans. What kind of credit scores does the borrower need? What are the dollar amounts min and max? Are there any types of properties you will not finance? i.e. gas stations, churches, funeral homes? I am interested in apartments, hotel/motels and storage units. I've made four offers in the past month. How many properties is an investor limited to? Also, a contact number would be great too! Thank you for sharing the information. Andrew Ikeda 360-909-3374 mobile andikeda@netscape.net Share this post Link to post Share on other sites
4Rmgt 0 Report post Posted May 8, 2004 Andrew, As they are private investors there are no set rates. They are flexible to work with investors on deals that make sense. Types of properties not financed...haven't met a type they won't at least consider. All the ones you mentioned were fine. As to the credit scores, it depends on the situation, property and individual as well. Because I represent private lenders, they can choose what to do with their own money. If they like you, regardless of credit, the can choose to lend you the money. They can act rather quickly and conveniently for you. The minimum is 250k, as to a max, I haven't maxed them out yet. The largest I have seen them do is $855 Million, but that is only because it was the largest deal I have brought their way. As to contact information, the website was in my signature block. The word Commercial Loan was actually linked to the site with more details. That URL is: http://www.4rmanagement.com/commercial_loans.asp I can be contacted through the contact page on that site. I prefer not to leave e-mail as I get countless spam messages. Thanks, Share this post Link to post Share on other sites
Andrew Ikeda 0 Report post Posted May 9, 2004 Hello Ryan, Thanks for the response. I will be in touch with you soon regarding all this! At this time, I have excellent scores (725 FICO middle score) but I lack cash. I've been trying to be a little creative and testy with sellers regarding financing. I have been able to find good properties and I'm open to working with private lenders. Two hard money lenders have asked to be partners with me on two particular deals. Do you know if these private lenders will want to be partners on deals? I personally prefer to go alone into these deals but if I see enough cash flow for two of us, well then, I'm all ears. What you wrote above really excites me as I have ambitions of buying apartment complexes and other commercial units...and the bigger, the better! I'll be contacting you soon. Take care and thanks! Andrew Share this post Link to post Share on other sites
