$470,000 Purchase of a Strip Shopping center-private money loan.

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

Where:  Stone Mountain, GA

Type: This property was 40% vacant but the buyer was going to move his business into the vacant part of the building.  Still, everyone had trouble with the property for one reason or another.  Local banks are very tough on investor deals and this was too small for any life companies.  So they came to us.  The existing tenants easily cash flowed the entire place so this borrower was eliminating his rental payments completely by moving into a property that cash flowed his new payment (actually, he will still pay rent but it will be to HIMSELF).  Because of all the denials, he was up against a deadline to close or he would lose this property to a back up offer.  We swooped in with the money and closed in less than 3 weeks and got the deal done.  Once he has moved his business in, he will refinance us to more conventional rates. Call Brian today at 866-355-1244!