$695,000 PRIVATE MONEY LOAN For a Foreclosed Shopping Center

Posted by in Commercial Real Estate, Recent Closings

            Where:  Mansfield, OH

Type:  This borrower was buying a foreclosed shopping center in Ohio.  Just that combination and the small loan size was enough to scare most people.  But he was getting it way under value.  Our private money fund liked the borrower and had done deals with him in the past.  We are willing to go to 80% of the purchase price on foreclosed and note discount deals IF our loan amount stays under 60%.  In this case, the property appraised at around $900,000 so we were fine.  We can fund these types of loans in under 3 weeks.  I am the underwriter, my brother is credit committee….we can get you closed!  Call me today at 866-355-1244.