Looking for a direct lender for a mixed use property located in Illinois. Sales price = $390,000. Borrower wants 80% LTV but has ample liquid funds for 75% LTV. Property is 100% occupied with comm’l space = church. Need to close fast!!
A wholesaler in Colorado tried to “let the chips fall where they may” by talking direct to the client; looks like they were trying to steal the deal. The next day they called and “denied the loan” although for weeks they had a commitment, which was never provided.
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For the need investor category
I am seeking funding for a Triplex in Anchorage, Alaska. The asking price is $270,000. The property is 100% occupied and has a positive cash flow. Seller is moving out of state. Deals such as this are rare in Alaska, so this must be jumped on quickly.
Borrower has low FICO and is self-employed and only has $10,000 to put down. I know someone out there can make this work.