We are a family owned and operated private equity fund based out of NYC. Our primary focus is bridge financing for income producing properties, and secondary is acquisitions of multifamily and credit-tenant retail. We are capable of closing extremely fast at competative rates.
Hi Rick, I have one project that may be of interest to you. It is 97 % complete 90% multi -family 10 % commercial classA in Calafornia water view. REO, 46 million debt appraisal 70 million. Selling for 29 million. four banks who will carry half.
Do you do small balance loans?
If not do you know who does?
We have a multi-use building in Herington, KS. It has 4 apartments and a cafe. It is 100% rented with a waiting list. It was recently valued
at $150K by United Country. We owe less than $50K on it and would like
to refi for $100K. We plan to pay off all our bills and finish
weatherizing the building with the proceeds.
We are currently purchasing a 12 unit apartment building in Kansas City, MO. It is REO and was listed for $135K. We made a crazy offer of $60K which
was accepted. The area has better than 85$ occupancy rate @ $450. This
building was vacated when it was foreclosed on and was vandalized. We
would like to borrow $115K to purchase and rehab. The value with rents
of only $350 and 75% occupancy would bring an ARV of at least $300K.
TIME IS OF THE ESSENCE WITH THIS ONE.
My husband is Welsh and has permanent residency for 1 1/2 years. We do not have any bad credit. Our FICO is only about 675 because of him being new and having
high balance cards. I can pay down about $7500 right now or the money
can be paid out of escrow. Also our mortgages are through a small local
bank that doesn't report. This also affects our rating.
Hi Max, I have one project that may be of interest to you. It is 97 % complete 90% multi -family 10 % commercial classA in Calafornia water view. REO, 46 million debt appraisal 70 million. Selling for 29 million. four banks who will carry half.
We can acquire 21 SFR Performing Notes these are nationwide and have a BPO value of $2.6 mil we can purchase at 50cents of BPO $1.3 mil. These cash flow at around $23k monthly. Our exit strategy is to reduce the current homeowners principle to 90% market value the Refi them and cash out. Is this something you could do.
Scott Foy / Homeland Acquisitions (708) 692-7001