$260,000 Cash-Out on a vacant property

Posted by in Brian's Blog, Commercial Real Estate, Recent Closings

Where: Raleigh, NC

Type:  This borrower was a strong borrower who had drained all his reserves keeping his company afloat and was finally at the break out point having just landed a huge contract that will begin funding him in September.  Problem was, he was out of money and was not going to make it to September at his burn rate (cash needed each month just to keep his business open and running).  But he had a vacant property in North Carolina worth $1 million so we got him a quick private money loan.  We closed it in 2 weeks and he will make it through.  It will be another business success story of a business that found a way to make it through and come back from the post Lehman financial collapse.  Much like my own business.  There are great stories happening out there and hopefully the above deals will encourage you.  I know I am constantly inspired by my clients-they are the dreamers still making it happen! Call Brian today at 866-355-1244.