Pritam,
When you find
a commercial property, please keep the following in mind.
I am a
finder for a financial group who have direct contracts with several
aggressive funding sources.
We provide loans for quality commercial real estate projects.
RE Lending Guidelines:
1. Will fund 90-100% of acquisition and development/conversion costs.
2. Project out of the box (developer not experienced with this type project, or project not completely clean) - may still fund it at 70% and charge more points and higher interest rate.
3. Loan amount will never exceed 70% of end value of project.
4. Person doing project should have financial substance, personal substance, experience with type of current project, good track record, and good credit.
5. Minimum loan amount is $5MM. No project is too large.
Corporate Acquisitions:
Will loan 80% to valuation on quality projects.
Please contact me for more information.
Greg Bjorgo
Redwood City, CA
415-846-3352
[EMAIL PROTECTED]
-----Original Message-----Hello all,
From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED]On Behalf Of Pritam Sinha
Sent: Tuesday, June 07, 2005 11:57 PM
To: [EMAIL PROTECTED]; [EMAIL PROTECTED]
Cc: [EMAIL PROTECTED]; [EMAIL PROTECTED]; [email protected]; [EMAIL PROTECTED]; [EMAIL PROTECTED]; Mortgage Funding; Mortgage Banker; [EMAIL PROTECTED]; Investor Loans; [EMAIL PROTECTED]; [EMAIL PROTECTED]; [EMAIL PROTECTED]; Broker First; [EMAIL PROTECTED]
Subject: [creative-re] Looking for high cap rate apartment or other commercial buildings
I will soon own close to 90 SFRs nationwide; but so far own almost nothing more than 4-units. Meanwhile, my credit is cluttered with many loans (though score is still very high), which makes getting new residential loans difficult -- but this is very congenial for getting apartment loans.
I want to look at apartment buildings and other commercial buildings with high cap rates (10+); of course lower is acceptable with NNN leases, where I can get in with little or nothing down; or partner up with one or more cash partners.
If u have anything, please let me know.
Pritam
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