$377,000 Foreign National refinance on our Private Money Fund!

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

Where?  North Carolina

Type: This was a refinance for a Canadian Foreign National that was paying off the seller from his purchase a year ago.  Among the challenges on this loan is that they had a poor management company in there- so even though they had owned it for a year, they were still running only 55% occupancy.  We got the deal done by doing a bridge loan to pay off the seller before he foreclosed and tried to take the property back.  We closed it through our own private money fund because we LOVE Canadian Borrowers and multi-family loans and we believed that the new management team he hired would turn the property around.  Once they do, a refinance to conventional rates can happen.  We should close 3 other private money loans this month-all of them tough situations that we are able to work around.  If the banks have told you know, then give me a call at 866-355-1244.  I specialize in getting tough deals done.  My 20 year track record speaks for itself-give me a call today!