Posted by fritz on September 10, 2005 at 07:05:25:
If you are willing to consider an equity venture, I have a source that “MAY” finance the entire project
Their minimum loan amount is $5MM, with a minimum FICO of 660. I believe this is a construction project.
It is an 80/20 with the 20% as equity.Yes I understand many investors are reluctant to use the gift of equity in a purchase. I have seen many deals fall thru the cracks because the borrower, is capped at probably 80% LTV, or for lacking either the closing costs and/or cash reserves
Remember, in approximately 12 months, with the “added” equity, one can always refi and pay,off the investor. It is definitely an option one should carefully consider. It may also be the last resort for many investors with dreams and vison, but limited cash.
Do you have an executive summary, Pro Forma, an exit strategy, pre-qualified buyers ready to purchase at pre-construction prices etc.
If you need to review some financing options, please be kind enough to send an email
Like AllState, you will be in very good hands